Under current law, counties and municipalities are authorized to
issue tax incentives, including property and sales tax credits or rebates, to promote certain uses of real property, such as the installation of renewable energy fixtures. Section 2 of the bill authorizes boards of county commissioners to establish a similar incentive program to offer limited county property tax credits or rebates to participants in a program designed to directly improve an area of specific local concern related to the use of real property in the county. Section 3 sets forth applicable definitions and requirements to
establish an incentive program to address an area of specific local concern, which is defined as a use of real property in the county that is determined by the board of county commissioners to be diminishing or unavailable based on verifiable data and which use the board of county commissioners finds and declares necessary for the preservation of the health, safety, or welfare of the residents of the county.
An incentive program must be established by resolution or
ordinance adopted by a board of county commissioners at a public meeting and must include the board's findings and determinations regarding the specific area of local concern and specific criteria for the qualification of program participants. Incentive programs must be evaluated on an annual basis and may be renewed only if determined to be effective. An incentive program must be uniformly applied among all owners of the same class of real or commercial property. Sections 4 and 5 authorize municipalities to establish an identical
incentive program offering limited municipal property tax credits or rebates to participants in a program designed to directly improve an area of specific local concern related to the use of real property in the municipality.
