05/12/2002 01:50 PM Senate RLS

The committee took up CSHB 521(CRA)-MUNICIPAL IMPROVEMENT AREAS.                                                            
                                                                                                                                
MS. AMY  ERICKSON, staff to  Representative Murkowski,  sponsor of                                                              
HB  521,  informed  members that  this  legislation  clarifies  an                                                              
ambiguity in the  current law that tax increment  financing can be                                                              
used to improve  public areas. It  can be used with  revenue bonds                                                              
and general obligation  bonds. HB 521 also extends  the definition                                                              
of improvement area to include areas adjacent to blighted land.                                                                 
                                                                                                                                
SENATOR  COWDERY   moved  to  calendar   CSHB  521(CRA)   and  its                                                              
accompanying fiscal note at the Chairman's discretion.                                                                          
                                                                                                                                
CHAIRMAN  PHILLIPS announced  that without  objection, the  motion                                                              
carried.