DIGEST OF INTRODUCED BILL
Renaissance zones. Permits the enterprise zone board to designate certain areas as renaissance zones. Provides relief from property taxes and state and county income taxes to renaissance zone residents and businesses. Provides that real and personal property located in a renaissance zone may be assessed for payment of property taxes committed to funding or paying bonded indebtedness or certain lease rentals. Requires an urban enterprise association to use the assistance provided by an enterprise zone business for capital improvements within the zone.