SB 129: Mitigate Impacts of Tax Increment Financing

Official summary

Abstract published by the legislature (via Open States). Text as published by the legislature; reproduced verbatim.

Current law requires county revitalization authorities and urban renewal authorities to, in certain instances, submit impact reports that detail the potential impacts of a proposed urban renewal or county revitalization plan on local services and infrastructure. The bill requires taxing entities that would be subject to tax increment financing pursuant to a proposed urban renewal or county revitalization plan to file either a certification of or a technical rebuttal to an impact report. If a taxing entity does not file either a certification or a technical rebuttal within 45 days after a county revitalization authority or urban renewal authority's submission of an urban renewal or county revitalization impact report, the impact report is presumed certified. The bill also requires taxing entities that would be subject to tax increment financing pursuant to a downtown development authority's proposed plan of development to file either a certification of or a technical rebuttal to a downtown development authority's impact report.On or before October 1, 2027, and on or before October 1 of each year thereafter, the legislative council staff is required to prepare a report or issue brief on the impact of tax increment financing on the state and local shares of education funding.(Note: This summary applies to this bill as introduced.)

Sponsors

Sponsors by party (alphabetical): Democratic 2

“Support” is shown only as formal sponsorship recorded by the legislature. Roll-call votes are available on the official bill page.

Recent official actions

1. March 19, 2026Senate Committee on Local Government & Housing Postpone Indefinitely
2. February 25, 2026Introduced In Senate - Assigned to Local Government & Housing