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SF 3037 Senate Long Description

Modifying certain tax increment financing provisions; eliminating the requirement for decertification of TIF districts or hazardous +substance subdistricts established to pay for the local match requirement for contamination cleanup grant eligibility purposes and a certain +exclusion from the definition of housing district relating to fair market value of improvements constructed for other than low and moderate income +housing; expanding the definition of tax increment to repayment or return of +tax increments under certain agreements and to the market value homestead+ credit; transferring the requirement for filing of copies of development or +project plans with the state auditor from the commissioner of revenue to the development authority; modifying certain housing district +qualification requirements and certain conditions under the requirement to add net +tax capacity increases to the original net tax capacity for tax increment computation purposes; repealing the three year activity rule and +certain developer payment use restrictions (ra)