Honorable Allan Ritter, Chair, House Committee on Economic Development
FROM:
John S. O'Brien, Deputy Director, Legislative Budget Board
IN RE:
HB918 by Krusee (Relating to the authority of a municipality to establish economic development programs in certain areas.), As Introduced
No fiscal implication to the State is anticipated.
The bill would authorize a governing body of a municipality to include an area annexed for limited purposes or an area in the extraterritorial jurisdiction as part of an area where economic development programs may be established. The bill would take effect immediately if it receives a two-thirds vote in each house; otherwise, it would take effect September 1, 2005.
Local Government Impact
Expanding the area in which a municipality may include an economic development program would have a positive fiscal impact on the municipality. The fiscal impact would vary by municipality and would depend on the program implemented.