HB 5852 Summary

• Amends the Water Resource Improvement Tax Increment Finance Authority Act to exclude from tax increment revenues any ad valorem property taxes or specific local taxes levied for millages approved by voters after December 31, 2016, with limited exceptions for certain renewal millages and safety-related millages.

• Requires municipalities operating water resource improvement authorities to maintain websites displaying authority records from the preceding 5 fiscal years, including board minutes, budgets, audits, development plans, and tax increment finance plans.

• Establishes annual informational meeting requirement for authority boards to highlight financial and operational information, with notice to be provided to the municipality and affected taxing jurisdictions at least 20 days in advance.

• Expands annual reporting requirements to include detailed accounting of tax increment revenues, public investment amounts, water resource improvements made, sponsorship contributions, and other operational metrics that must be published in local newspapers or online.

• Transfers enforcement authority from the State Tax Commission to the Department of Treasury, which may withhold excess tax increment revenues from non-compliant authorities for up to 60 days after written notification of violations.