Chapter 09 - Tax Incremental Districts
- Section 11-9-1 - Definition of terms.
- Section 11-9-2 - Municipal powers related to districts.
- Section 11-9-3 - Planning commission hearing on creation of district--Notice.
- Section 11-9-4 - Recommendation by planning commission for creation of district--Designation ofboundaries.
- Section 11-9-5 - Governing body resolution creating district--Boundaries--Name.
- Section 11-9-6 - Districts with overlapping boundaries permitted.
- Section 11-9-7 - Maximum percentage of taxable property in municipality permitted in districts.
- Section 11-9-8 - Findings required as to blighted areas--Likelihood of enhanced value fromimprovements.
- Section 11-9-9 - Areas conducive to disease or crime defined as blighted.
- Section 11-9-10 - Developed areas impairing growth defined as blighted.
- Section 11-9-11 - Open areas impairing growth defined as blighted.
- Section 11-9-12 - Determination of tax incremental base on creation or expansion of district.
- Section 11-9-13 - Recommendation of project plan by commission--Statement of improvementsproposed, costs, and plan for financing.
- Section 11-9-14 - Definition of project costs.
- Section 11-9-15 - Specific items included in project costs.
- Section 11-9-16 - Statement as to zoning and property use impact--Relocation methods.
- Section 11-9-17 - Governing body resolution adopting project plan--Findings of feasibility andconformity with municipal master plan.
- Section 11-9-18 - Amendment to project plan--Procedure.
- Section 11-9-19 - Tax incremental base defined.
- Section 11-9-20 - Determination of tax incremental base for newly created district.
- Section 11-9-20.1 - Aggregate assessed value for district not in compliance with § 10-6-33.8.
- Section 11-9-21 - Identification on assessment rolls of property within districts.
- Section 11-9-22 - Property recently acquired by municipality--Presumption as to inclusion in taxincremental base.
- Section 11-9-23 - Redetermination of tax incremental base when project costs increased by amendmentof plan.
- Section 11-9-24 - Annual notice to taxing districts as to total assessed value and tax incremental base--Change in laws not to result in lower assessed values--Conditions.
- Section 11-9-25 - Allocation to municipality of tax increments--Duration of allocation.
- Section 11-9-26 - Definition and computation of tax increment for district.
- Section 11-9-27 - Taxation of property in district.
- Section 11-9-28 - Payment to municipality of allocable tax increment.
- Section 11-9-29 - Repealed.
- Section 11-9-30 - Methods of paying project costs.
- Section 11-9-31 - Tax increments deposited in special fund--Municipal appropriations to fund--Investment of moneys in fund.
- Section 11-9-32 - Permissible uses of special fund.
- Section 11-9-33 - Bonds and notes authorized for payment of project costs.
- Section 11-9-34 - Resolution authorizing bonds or notes--Voters' approval not required.
- Section 11-9-35 - Maximum amount of bonds or notes--Maturity--Redemption provisions--Bearer orregistered--Denominations.
- Section 11-9-36 - Bonds and notes payable only from special fund--Not general debt of municipality.
- Sections 11-9-37, 11-9-38 - Pledge of special fund to bonds or notes--Restrictions on use of fund--Lien on fund. Bonds and notes negotiable--Bonds payable only from tax increment
- Section 11-9-39 - Other provisions to secure holders of bonds and notes.
- Section 11-9-39.1 - State pledge not to alter rights vested in bondholders until bonds or notes are fullydischarged.
- Section 11-9-40 - Sale of bonds or notes--Other municipal bonding provisions applicable.
- Section 11-9-41 - Procedure for condemnation under power of eminent domain.
- Section 11-9-42 - Tax increments not to be used for residential structures.
- Section 11-9-43 - Performance bond required of purchaser or lessee of property.
- Section 11-9-44 - Notice to purchaser or lessee and surety of default in contract--Taking possession ofproperty on default.
- Section 11-9-45 - Disposition of special fund remaining after payment of project costs.
- Section 11-9-46 - Termination of tax incremental district.