SB409: Economic Development - County or Municipal Corporation Economic Development Authority - Powers and Use of Proceeds

Legislative Summary

Expanding the acceptable names authorized for an economic development authority established by a county or municipal corporation; expanding the powers of an authority, subject to limitations in the articles of incorporation of the authority and resolutions of the legislative body of a county or municipal corporation; providing that certain actions require prior approval of the legislative body of a county or municipal corporation under certain circumstances; expanding the authorized uses of tax increment proceeds; etc.