Establishes a reporting format for Tax Increment Financing Reports for municipalities.
Directs the Comptroller to create a reporting format for Tax Increment Financing Reports for 14 municipalities. If a municipality fails to file the report within the required time, the Comptroller may order the municipality to cease all distributions from its Special Tax Allocation Fund for redevelopment project costs other than debt service on bonds until the report is filed. The Comptroller may charge fees for late filings and may decline to order an audit if the municipality's books and records are inadequate.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
Analyze for Free
See what it does, who it affects, and the critical issues in plain language. Free, 30 seconds.