HB 15-1348 Summary

• Changes urban renewal authority composition from 5-11 commissioners to 13 commissioners minimum, requiring at least one representative each appointed by county commissioners, special districts, and school districts to represent non-municipal taxing bodies.

• Requires municipalities to notify and negotiate with county and other affected public bodies before approving urban renewal plans that allocate their tax revenues, with mandatory mediation if no agreement is reached within 120 days.

• Mandates repayment of property tax increment revenues to non-municipal taxing bodies after project debt is paid, based on each body's pro rata share of prior year property tax increment attributable to their mill levy.

• Provides procedures for reimbursement of pre-approval contributions made by counties, special districts, or school districts to urban renewal projects within 12 months prior to plan approval.

• Applies to urban renewal plans and modifications created or adopted on or after January 1, 2016, with an effective date of August 5, 2015, subject to voter approval if a referendum petition is filed.