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2015 Regular Session
At the request of:
Chief Sponsors:
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Bill Title: Relating to remediation of contaminated property.
Catchline/Summary: Authorizes local government to create by ordinance or resolution Land Bank Authority as municipal corporation.
Authorizes authority to have powers necessary to acquire, rehabilitate, redevelop, reutilize or restore brownfield properties. Authorizes authority to bring action to recover remedial action costs or damages and authorizes court in such action to allow authority to recover costs, expert witness fees, reasonable attorney fees and prejudgment or preaward interest. Provides process for dissolution of authority. Exempts authority, under certain circumstances, from liability for spill or release of oil or hazardous material existing on property as of date authority becomes owner or operator of property. Requires authority to be managed and controlled by board of directors. Sets forth duties of board. Authorizes local government to adopt program granting property tax abatement against taxes imposed on brownfields in amount equal to specified percentage of certain remediation costs. Provides that program becomes effective only upon certain threshold level of concurrence by local taxing districts. Provides that additional abatement may be granted if local government adopts additional requirements in connection with development of brownfields. Provides that amounts of abatement in excess of tax liability may be carried forward for four consecutive property tax years. Provides for clawback of abated amounts if abatement of brownfield revoked for cause.].
Chapter Number: Chapter 631
Fiscal Impact: Has Minimal Fiscal Impact
Revenue Impact: Has Minimal Revenue Impact
Measure Analysis: Staff Measure Summary / Impact Statements
Current Location: Chapter Number Assigned
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Subsequent Referral(s):
Potential Conflicts of Interest/Vote Explanations: Potential Conflicts of Interest/Vote Explanation Documents
Measure History
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