Uses of Fees or Alternatives to Fund Transit (2008)

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33 APPENDIX C Summary Table: Tax Increment Financing State Statutes State Duration Enabling Statute Alabama 30 years per district; Tax Incre- ment Districts Code of Alabama 11-99.1 et seq. Alaska None specified; Improvement Area Projects Alaska Statutes 29.47.460. Arizona None Arkansas 25 years per district Community Redevelopment, Ar- kansas Code 14-168-301 et seq. California 30 years (plus up to 15-year extension) Community Redevelopment Law, California Code 33000 et seq. Colorado 25 years per project to fund bonds Urban Renewal Law, Colorado Revised Statutes, 31-25-101 et seq. Connecticut As determined by CT Develop- ment Authority Tax Incremental Financing Pro- gram, Title 8, Chapter 130, § 8-124 et seq. Delaware 30-year bond issuance Municipal Tax Increment Fi- nancing Act, 22-1701 et seq. District of Columbia Per project area Tax Increment Financing, § 2-1217.01 et seq. Georgia Dissolve by resolution of council and no debt Redevelopment Powers Law, 36-44-1 et seq. Hawaii Dissolve as established by ordi- nance Tax Increment Financing Act, 46-101 et seq. Florida 40 years from adoption of rede- velopment plan Community Redevelopment Act, 163.330 et seq. Idaho 24 years Local Economic Development Act, § 50-2901 et seq. Illinois 23 years per district Tax Increment Allocation Rede- velopment Act, 65 Illinois Compiled Statutes 5/11- 74.4-1 et seq. Kansas 20 years Kansas Revised Statutes 12-1770 et seq. Indiana 30 years Indiana Code 36-7-14 et seq. Iowa 20 years per district Urban Renewal Law, Iowa Ad- ministrative Code 50-8-1 § 403.1 et seq. Kentucky 20 years Increment Financing Act, Ken- tucky Revised Statutes 65-680–699. Louisiana 30 years Tax Increment Development Act, Title 47, Subtitle 9, Chapter 1. Massachusetts 30 years District Improvement Financing, Chapter 40Q, § 1-4. Maine 30 years per district Title 30-A, § 5227. Maryland Per development district agree- ment Tax Increment Financing Act, § 14-201 et seq. (2001). Michigan Active until purpose has been ac- complished Tax Increment Finance Author- ity Act, § 125.1801 et seq. Minnesota 25 years per district (30 for pre- Tax Increment Financing Act,

34 1979) Minnesota Statutes 469.174– 469.179 Mississippi Per individual financing plans Tax Increment Financing Act, § 21-45-1 et seq. (2001). Missouri 23 years per district Real Property Tax Increment Al- location Redevelopment Act, 99.800 Missouri Revised Statutes et seq. Montana 15 years Urban Renewal Law, § 7-15-4201 et seq. Nebraska 15 year per districts; no limit of number per city Community Development Law, Nebraska Revised Statute 18-2100 et seq. Nevada Up to 45 years Community Redevelopment Law, § 279.382 et seq. New Hampshire 30 years Municipal Economic Develop- ment and Revitalization Districts, § 162-K et seq. New Jersey Until obligations for any project in the district cease to be out- standing Revenue Allocation District Fi- nancing Act, C.52:27D-459 et seq. New Mexico 5 years Urban Development Law, § 3-46-1 et seq. New York Per redevelopment plan Municipal Redevelopment Law, § 970-a et seq. North Carolina 30 years Project Development Financing Act, Chapter 159, Article 6 North Dakota By local ordinance Urban Renewal Law, § 40-58-01 et seq. Ohio 30 years Municipal Tax Increment Fi- nancing Act, § 5709.40 et seq. Oklahoma 25 years Local Development Act, § 850 et seq. Oregon 30 years Urban Renewal Law, § 457.010 et seq. Pennsylvania 20 years Tax Increment Financing Act, Title 53.§ 6930.1 et seq. Rhode Island By project plan Tax Increment Financing Act, § 45-33.2-1 et seq. South Carolina Per redevelopment plan Tax Increment Financing Law, § 31-6-10 et seq. South Dakota 15 years Tax Incremental Districts, § 11-9-1 et seq. Tennessee Per redevelopment plan Redevelopment § 13-20-201 et seq. Texas By local ordinance or when all project costs, tax increment bonds, and interest are paid Tax Increment Financing Act, § 311.001 et seq. Utah 25 years Redevelopment Agencies Act, § 17 B-4-101 et seq. Vermont On project basis Tax Increment Financing, Ti- tle 24, § 1891 et seq. Virginia For so long as any obligations or development project costs are un- paid Tax Increment Financing, § 58.1-3245 et seq. Washington 30 years Community Revitalization Fi- nancing, § 39.89.010 et seq. West Virginia 30 year district; no limit of num- ber per municipality West Virginia Tax Increment Fi- nancing Act, West Virginia Code 7- 11B-1 et seq.

35 Wisconsin 27 years (raised from 23 in 2003) Tax Increment Law, § 66.1105 et seq. Wyoming 25 years Wyoming Urban Renewal Code, § 15-9-101 et seq. Source: Council of Development Finance Agencies at http://www.cdfa.net/cdfa/cdfaweb.nsf/pages/tifstatestatutes.html.