Excludes school district foundation property taxes from urban renewal revenue division and allows voluntary payments.
This bill excludes school district foundation property taxes from the division of revenue under tax increment financing. It prohibits these taxes from being divided for fiscal years starting July 1, 2027. The bill authorizes school districts to voluntarily approve payments from their general fund to municipalities for urban renewal projects. These payments are optional and do not affect state foundation aid or other amounts under Code chapter 257.
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