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DE HB227

Bill

Official Source

Status

Passed

7/12/2017

Primary Sponsor

William Carson

Click for details

Origin

House of Representatives

149th General Assembly

AI Summary

  • Amends Delaware Code Chapter 17, Title 22 to modify tax increment financing (TIF) provisions applicable only to the City of Dover
  • Allows City of Dover to designate the specific date for determining adjusted assessed value and original assessed value of properties within its TIF Districts
  • Permits the designated date to be January 1 of the year preceding the TIF District resolution or any later date selected by Dover City Council
  • Clarifies that agricultural, horticultural, or forest use properties in Dover TIF Districts shall be assessed at fair market value without regard to their special use assessment classification
  • Prohibits the City of Dover from pledging its full faith and credit toward payment of bonds authorized under the TIF chapter

Legislative Description

An Act To Amend Chapter 17, Title 22 Of The Delaware Code Relating To Municipal Tax Increment Financing.

Last Action

Signed by Governor

7/12/2017

Committee Referrals

Judicial & Community Affairs6/23/2017
Housing & Community Affairs6/13/2017

Full Bill Text

No bill text available