S.F. No. 4299 Summary

• Creates a tax-stressed cities demolition grant program administered by the Commissioner of Employment and Economic Development to provide grants covering 50 percent of demolition costs for qualifying vacant properties in eligible cities.

• Defines "tax-stressed city" as a statutory or home rule charter city with a net tax capacity tax rate greater than or equal to 125 percent for the previous calendar year.

• Establishes that qualifying properties must have been vacant for at least one year, pose a public safety threat due to inadequate maintenance or abandonment, and cannot be listed on the National Register of Historic Places.

• Requires development authorities to apply with municipal governing body approval, including documentation of site identification, demolition cost estimates, municipal funding for the remaining 50 percent, and evidence of financial need and public safety threat.

• Appropriates $2,246,000 from the general fund in fiscal year 2023 to establish the program account, with administrative costs capped at five percent annually, and mandates annual reporting to legislative committees beginning January 15, 2024.