Class 2 municipalities; industrial development boards, powers amended
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Progress
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- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Overview
This bill amends the powers of industrial development boards in Class 2 municipalities. Specifically, it grants these boards the authority to issue and sell bonds, and to acquire, construct, improve, and manage development projects. The bill also expands their ability to finance these projects through loans, grants, and contributions from various sources, all with the goal of promoting economic development within the municipality. The act takes effect on October 1, 2026.
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