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ARIZONA HOUSE OF REPRESENTATIVESFifty-sixth Legislature First Regular Session |
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HB 2809: public infrastructure improvements; reimbursement
Sponsor: Representative Carbone, LD 25
Committee on Commerce
Overview
Modifies the total amount paid to a city, town or county for infrastructure improvements related to manufacturing facilities to the lesser of the tax revenues received from persons conducting business under the Prime Contracting Classification derived from contracts to construct buildings and associated improvements for the benefit of a manufacturing facility or 80% of the total cost of public infrastructure improvements.
History
Current law provides that a city, town or county may be paid up to 80% of the cost of public infrastructure improvements for the benefit of a manufacturing facility and that the funds distributed are from tax revenues received from persons conducting business under the Prime Contracting Classification derived from contracts to construct buildings and associated improvements for the benefit of a manufacturing facility. Additionally, the total amount paid to all cities, towns and counties shall not exceed $100,000,000. (A.R.S. § 42-5032.02)
Provisions
1. Revises the total amount paid to a city, town or county to construct buildings and associated improvements for the benefit of a manufacturing facility is the lesser of the tax revenues received from persons conducting business under the Prime Contracting Classification derived from contracts to construct buildings and associated improvements for the benefit of a manufacturing facility or 80% of the total cost of the public infrastructure improvements. (Sec. 1)
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Makes technical changes. (Sec. 1)
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6. HB 2809
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