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Senate Study Bill 27

Conference Committee Text

PAG LIN
  1  1    Section 1.  Section 404.2, subsection 2, paragraph f,
  1  2 unnumbered paragraph 1, Code 1995, is amended to read as
  1  3 follows:
  1  4    A statement specifying whether the revitalization is
  1  5 applicable to none, some, or all of the property assessed as
  1  6 residential, agricultural, commercial or industrial property
  1  7 within the designated area or a combination thereof and
  1  8 whether the revitalization is for rehabilitation and additions
  1  9 to existing buildings or new construction or both.  If
  1 10 revitalization is made applicable only to some property within
  1 11 an assessment classification, the definition of that subset of
  1 12 eligible property must be by uniform criteria which further
  1 13 some planning objective identified in the plan.  The city
  1 14 shall state how long it is estimated that the area shall
  1 15 remain a designated revitalization area which time shall be
  1 16 longer than one year from the date of designation and shall
  1 17 state any plan by the city to issue revenue bonds for
  1 18 revitalization projects within the area.  For a county, a
  1 19 revitalization area shall include only property which will be
  1 20 used as industrial property only.  
  1 21                           EXPLANATION
  1 22    This bill removes the restriction that a county
  1 23 revitalization area shall include only property which will be
  1 24 used as industrial property.  
  1 25 LSB 1570SC 76
  1 26 tj/jj/8
     
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