Providing public accountability for taxpayer subsidies of private business; prohibiting new tax increment financing (TIF) district certifications and TIF district duration extensions after a certain date; defining business subsidies, prohibiting local government units (political subdivisions) from providing business subsidies, exception for certain authorized TIF districts; requiring public hearings for business subsidies and public notice; defining local government units providing subsidies as host municipalities and authorizing certain sharing; repealing certain economic development definitions, abatement and bonding authority and administrative powers
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