IN SR0056

Urges the legislative council to create an interim study committee to examine the use of tax increment financing (TIF), with particular focus on the Clark County Redevelopment Commission

Study would evaluate whether legislative bodies should approve certain redevelopment commission actions, including entering into debt obligations, long-term agreements, and purchasing real property

Committee would examine whether redevelopment commissions should provide annual public reports detailing revenues, expenses, fund balances, outstanding obligations, and parcel information for each TIF district

Study would assess whether more frequent or thorough audits by the state board of accounts are needed for redevelopment commissions and authorities

Committee would evaluate appropriate limits on the percentage of incremental assessed value captured by TIF districts and whether excess revenues should be distributed to other taxing units