DIGEST OF INTRODUCED BILL
Public transportation corporation funding. Provides that a redevelopment commission of a municipality may provide revenue to a public transportation corporation from property tax proceeds allocated to the redevelopment commission in a tax increment financing area. Limits the amount of revenue to the amount of property tax revenue received by the redevelopment commission that is attributable to the public transportation corporation's tax rate. Requires a joint public hearing of the municipality's legislative body and the redevelopment commission and the adoption of substantially similar authorizing resolutions.