Assembly Bill 812 proposes an amendment to the existing law regarding tax incremental districts (TIDs) in the Village of Somers, specifically addressing the percentage of land that can be designated for residential use. Currently, the law stipulates that lands proposed for newly platted residential use within a mixed-use development TID cannot exceed 35 percent of the total area. This bill seeks to increase that limit to 50 percent for TIDs located in the Village of Somers, thereby allowing for a greater proportion of residential development within these districts.

The specific legal language amended in the bill clarifies that while the general rule remains that residential use cannot exceed 35 percent of the area within a TID, an exception is made for the Village of Somers, where the limit is raised to 50 percent. This change aims to facilitate more residential development in the area, potentially addressing housing needs and promoting growth within the community.

Statutes affected:
Bill Text: 66.1105(2)(cm), 66.1105