HB0844 Summary

• Amends the Tax Increment Allocation Redevelopment Act to add a median household income requirement for "blighted areas" in redevelopment project areas created on or after the bill's effective date.

• Requires that blighted areas have a median household income of 100% or less of the area median income as determined by the U.S. Department of Housing and Urban Development.

• If an area contains no residents, the adjoining census tracts must meet the 100% or less area median income threshold instead.

• Applies only to redevelopment project areas created after the bill's enactment; does not affect previously designated areas.

• Takes effect immediately upon becoming law.