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Introduced Senate Bill (S)

DIGEST

Overlapping allocation areas. Permits counties and municipalities in a case in which a municipality annexes an area in the county after the county has established a redevelopment district in that area to mutually approve the allocation of property tax proceeds derived from the municipality's component of the tax rate applied to the allocation area to be transferred to the redevelopment commission of the annexing municipality. Overlapping allocation areas. Permits counties and municipalities in a case in which a municipality annexes an area in the county after the county has established a redevelopment district in that area to mutually approve the allocation of property tax proceeds derived from the municipality's component of the tax rate applied to the allocation area to be transferred to the redevelopment commission of the annexing municipality.