This bill mandates the establishment of an advisory committee for districts utilizing tax increment financing (TIF). It amends existing laws to require that the board of commissioners for urban renewal agencies consist of no fewer than five members, including representatives from both the county or consolidated city-county government and a school district that overlaps with the urban renewal area. The bill also specifies the initial terms for commissioners and outlines the process for their appointment and removal.

Additionally, the bill stipulates that before adopting a TIF provision as part of an urban renewal or comprehensive development plan, municipalities must notify relevant counties and school districts, allowing for public consultation. The legislative body of a local government that adopts a TIF provision is required to appoint an advisory committee to assist in the administration of the urban renewal area or targeted economic development district, although urban renewal areas administered by certain agencies are exempt from this requirement.

Statutes affected:
LC Text: 7-15-4282
SB0003_1(1): 7-15-4282
SB0003_1(2): 7-15-4282
SB0003_1(3): 7-15-4282
SB0003_1(4): 7-15-4282
SB0003_1(5): 7-15-4282
SB0003_1(6): 7-15-4282
SB0003_1: 7-15-4282
SB0003_2(1): 7-15-4234, 7-15-4282
SB0003_2(10): 7-15-4282
SB0003_2(11): 7-15-4282
SB0003_2(2): 7-15-4234, 7-15-4282
SB0003_2(3): 7-15-4234, 7-15-4282
SB0003_2(4): 7-15-4282
SB0003_2(5): 7-15-4282
SB0003_2(6): 7-15-4282
SB0003_2(7): 7-15-4282
SB0003_2(8): 7-15-4282
SB0003_2(9): 7-15-4282
SB0003_2: 7-15-4234, 7-15-4282
SB0003_3: 7-15-4234, 7-15-4282
SB0003_X(1): 7-15-4234, 7-15-4282
SB0003_X(10): 7-15-4234, 7-15-4282
SB0003_X(11): 7-15-4234, 7-15-4282
SB0003_X(12): 7-15-4234, 7-15-4282
SB0003_X(13): 7-15-4234, 7-15-4282
SB0003_X(14): 7-15-4234, 7-15-4282
SB0003_X(15): 7-15-4234, 7-15-4282
SB0003_X(16): 7-15-4234, 7-15-4282
SB0003_X(17): 7-15-4234, 7-15-4282
SB0003_X(2): 7-15-4234, 7-15-4282
SB0003_X(3): 7-15-4234, 7-15-4282
SB0003_X(4): 7-15-4234, 7-15-4282
SB0003_X(5): 7-15-4234, 7-15-4282
SB0003_X(6): 7-15-4234, 7-15-4282
SB0003_X(7): 7-15-4234, 7-15-4282
SB0003_X(8): 7-15-4234, 7-15-4282
SB0003_X(9): 7-15-4234, 7-15-4282
SB0003_X: 7-15-4234, 7-15-4282