Clarifies eligibility for tax increment financing district extensions using revenue for affordable housing and transit-oriented development.
This bill amends the definition of "transit-oriented development" to allow such developments to qualify for tax increment financing district extensions without needing to be located in a transit-oriented development district, area, or corridor. It also specifies that eligible districts can use tax increment financing revenue for affordable housing and transit-oriented development to qualify for a 20-year extension.
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