House Bill 1665

AN ACT TO PROVIDE THAT THE DEPARTMENT OF FINANCE AND ADMINISTRATION SHALL ESTABLISH A PROGRAM TO PROVIDE INCENTIVE PAYMENTS FOR DEVELOPERS TO DEVELOP PROPERTY IN THE CAPITOL COMPLEX IMPROVEMENT DISTRICT AND TO PLACE SUCH PROPERTY INTO USE WHICH WILL INCREASE THE VALUE OF THE PROPERTY AND PROMOTE ECONOMIC DEVELOPMENT AND THE PUBLIC INTEREST WITHIN THE DISTRICT; TO DEFINE CERTAIN TERMS FOR THE PURPOSES OF THIS ACT; TO PROVIDE AN APPLICATION PROCESS FOR DEVELOPERS WHO DESIRE TO PARTICIPATE IN THE INCENTIVE PROGRAM; TO PROVIDE THAT WHEN PROPERTY IS DEVELOPED ACCORDING TO A DEVELOPMENT PLAN AND PLACED INTO USE, THE CITY OF JACKSON AND HINDS COUNTY SHALL REMIT TO THE DEPARTMENT OF FINANCE AND ADMINISTRATION FOR A CERTAIN PERIOD OF TIME, THE REVENUE DERIVED FROM THE APPLICABLE MUNICIPAL OR COUNTY AD VALOREM TAX LEVIED FOR GENERAL FUND PURPOSES ON A PORTION OF THE INCREASE IN THE ASSESSED VALUE OF THE PROPERTY; TO REQUIRE THE DEPARTMENT OF FINANCE AND ADMINISTRATION TO DEPOSIT SUCH REMITTED AMOUNTS INTO A SPECIAL FUND CREATED IN THIS ACT AND EXPEND MONIES IN THE FUND, UPON APPROPRIATION BY THE LEGISLATURE, TO PROVIDE INCENTIVE PAYMENTS TO SUCH DEVELOPERS; TO PROVIDE FOR THE AMOUNT OF THE INCENTIVE PAYMENTS AND PERIOD OF TIME THAT INCENTIVE PAYMENTS WILL BE MADE TO DEVELOPERS; TO PROVIDE THAT AFTER INCENTIVE PAYMENTS HAVE BEEN MADE TO A DEVELOPER FOR THE TIME PROVIDED IN THIS ACT, THE DEPARTMENT OF FINANCE AND ADMINISTRATION SHALL DEPOSIT FUNDS RECEIVED FROM PAYMENTS REMITTED BY THE CITY OF JACKSON AND HINDS COUNTY INTO THE CAPITOL COMPLEX IMPROVEMENT DISTRICT PROJECT FUND FOR A CERTAIN PERIOD OF TIME; AND FOR RELATED PURPOSES.

In the House of Representatives

• John Thomas "Trey" Lamar, III

  Sponsor

• House of Representatives floor amendmentAdopted

  Adopted Feb 29

• Senate committee amendmentPending

• Senate floor amendmentPending

l9n doesn't hold this bill's text yet.

In the House of Representatives Feb 19 – Feb 29

1. Feb 19Referred to the House committee on Ways and Means
2. Feb 27Reported from committee in the House: title sufficient, do pass
3. Feb 29Amended in the House
4. Passed the House as amended

In the Senate Mar 1 – Apr 10

1. Mar 1Sent to the Senate
2. Mar 21Referred to the Senate committee on Finance
3. Apr 2Reported from committee in the Senate: title sufficient, do pass as amended
4. Apr 10Amended in the Senate
5. Passed the Senate as amended

Back in the House of Representatives Apr 15 – Apr 29

1. Apr 15Returned to the House to concur in the Senate's amendments
2. Apr 16Declined in the House to concur, and invited a conference
3. Apr 17Conferees named in the House: Lamar, Steverson and Barnett
4. Apr 18Conferees named in the Senate: Harkins, Parker and Horhn
5. Apr 29Died in conference in the House