The bill mandates that any district utilizing tax increment financing (TIF) must establish an advisory committee to assist in the administration of urban renewal areas or targeted economic development districts. The advisory committee is required to include representatives from each incorporated city or town, county, and school district that overlaps with the urban renewal area or targeted economic development district. However, urban renewal areas managed by an urban renewal agency created under a specific section are exempt from this requirement.

Additionally, the bill amends existing laws regarding the composition of the board of commissioners for urban renewal agencies. It stipulates that the board must consist of no fewer than five commissioners, including at least one representative from the county or consolidated city-county government and one from a school district that overlaps with the urban renewal area. The initial appointments will have staggered terms, and the bill clarifies the process for appointing commissioners and the conditions under which they may be removed.

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