SB1293 amends tax abatement rules for government property improvements in Arizona.

SB1293 amends Arizona law to modify the tax abatement rules for government property improvements. It specifies that the slum or blighted area designation automatically terminates five years after the review unless certain conditions are met. The bill also outlines the conditions under which a lease or development agreement can continue despite the termination of the designation. Additionally, it sets a ten-year limit for the designation of a slum or blighted area, with automatic termination unless formally renewed or modified.

SB1293 amends tax abatement rules for government property improvements in Arizona.

SB1293 amends Arizona law to modify the tax abatement rules for government property improvements. It specifies that the slum or blighted area designation automatically terminates five years after the review unless certain conditions are met. The bill also outlines the conditions under which a lease or development agreement can continue despite the termination of the designation. Additionally, it sets a ten-year limit for the designation of a slum or blighted area, with automatic termination unless formally renewed or modified.