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ID H0560
Bill
Status
2/17/2012
Primary Sponsor
Local Government Committee
Click for details
AI Summary
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Repeals Chapter 20, Title 50, Idaho Code, which contained the state's urban renewal law.
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Amends Section 50-2904 to remove references to "urban renewal plans" while maintaining provisions for revenue allocation areas and competitively disadvantaged border community areas.
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Repeals Section 50-2905 relating to recommendations by urban renewal agencies.
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Transfers fiduciary responsibility for existing obligations and liabilities of urban renewal agencies to appropriate local governing bodies, which must retire such obligations consistent with their original terms.
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Requires that urban renewal area revenues exceeding amounts needed to meet existing financial obligations be returned to taxing districts on a pro rata basis.
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Declares the act an emergency measure effective upon passage and approval.
Legislative Description
Repeals and amends existing law relating to urban renewal law and provides for the assumption of fiduciary responsibility and the return of unexpended moneys.
URBAN RENEWAL
Last Action
to Loc Gov
2/20/2012