Under existing law, a Major 21st Century Manufacturing Zone suitable for the site of certain manufacturing facilities may be established within a tax increment district, and must comprise at least 50 percent of the tax increment district within which such zone is located. This bill would allow a Major 21st Century Manufacturing Zone to be located within a tax increment district without regard to the size of such tax increment district, and allow ad valorem tax revenues collected within such tax increment district to be used to reimburse costs incurred by a public entity to acquire land within the Major 21st Century Manufacturing Zone prior to the creation of such tax increment district.

Statutes affected:
Introduced: 11-99-4, 11-99-5, 11-99-6, 11-99-2, 11-99-4, 11-99-5, 11-99-6