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Bills · 2019-2020 Regular Session

SB 260

Died at session end Official bill text Atom feed

Relating to: changing the 12 percent rule regarding the total value of taxable property included in the creation of a tax incremental financing district in the village of Ontario. (FE)

Property tax Vernon county

  1. Introduced, stopped here
  2. Passes Senate, not reached
  3. Passes Assembly, not reached
  4. Governor signs, not reached
  5. Law, not reached

Unfamiliar terms? Glossary

What this bill does

Plain-language analysis by the nonpartisan Legislative Reference Bureau

With regard to the village of Ontario, this bill changes the rule that the

equalized value of taxable property of a new or amended tax incremental district

(TID) plus the value increment of all existing TIDs does not exceed 12 percent of the

total equalized value of taxable property in the city or village. Under the bill, the 12

percent rule does not apply to the village of Ontario, with regard to the creation of

TID Number 2 by the village. Upon the termination of that TID, the limit will return

to 12 percent.

What it would cost

Fiscal estimates filed by state agencies, as official PDFs

Sponsors

Introduced by: Testin (R)

1 cosponsors

Oldenburg (R)

Full history

  1. Jun 6, 2019 · Senate

    Introduced by Senator Testin; cosponsored by Representative Oldenburg

  2. Jun 6, 2019 · Senate

    Read first time and referred to Committee on Economic Development, Commerce and Trade

  3. Jun 19, 2019 · Senate

    Fiscal estimate received

  4. Oct 2, 2019 · Senate

    Senate Amendment 1 offered by Senator Testin

  5. Oct 23, 2019 · Senate

    Senate Substitute Amendment 1 offered by Senator Testin

  6. Feb 19, 2020 · Senate

    Public hearing held

  7. Apr 1, 2020 · Senate

    Failed to pass pursuant to Senate Joint Resolution 1