Environmental & Healthcare Legislative Watch50 States · D.C. · U.S. Congress
From official state and federal legislative records. Informational only, not legal advice.
Now law
This is now an official law, recorded in the state's law books.
The governor signed it. Nothing left to watch.
In plain words
AI summaryWritten by AI from the bill text. Check the official text before relying on it.
Fiscal Summary OTHER FISCAL IMPACT Additional allocations of state and local sales tax revenue generated from within a commercial development district may be made to the respective local government entities. However, the extent and timing of any such additional allocations cannot be estimated with reasonable certainty. Bill Summary Present law authorizes the creation of commercial development districts in rural, economically distressed counties experiencing persistent high unemployment and traditionally low levels of family income, to apportion and distribute sales and use tax revenue to address such issues. Eligible counties must submit a completed application to the commissioner of finance and administration ("commissioner"), and then may receive an allocation of sales and use tax revenues. Present law provides that the tax revenue allocation available for properties located in a county that borders at least three distressed, rural counties in at least three fiscal years since FY 2016-2017, and whose governing body passed a resolution or official action prior to January 1, 2021, are available for eligible counties or municipalities that have filed an application with the commissioner between January 1, 2021, and December 31, 2026. This bill extends that application deadline to December 31, 2040. Present law provides that tax revenue allocation available pursuant to this allocation program applies to eligible counties or municipalities located in such eligible counties, or industrial development corporations established by such eligible counties or municipalities, that have received the approval of a commercial development district from the commissioner on or before June 30, 2031. This bill extends that deadline to June 30, 2041.
