Contact: Lindsey Ross, Senior Press Secretary
STATEHOUSE (April 9, 2019) – A bill authored by State Sen. Jeff Raatz (R-Richmond) that would allow for the creation of residential housing development programs recently passed the House Committee on Ways and Means by a vote of 22 to 1.
Senate Bill 566 would allow redevelopment commissions in counties with populations of 100,000 or less to establish a program for residential housing development as well as a tax increment funding (TIF) allocation area for the program.
“Populations in many rural communities are declining, and this legislation would give them the opportunity to grow by allowing them to develop and use TIFs,” Raatz said. “I believe this legislation would have a positive impact on the rural areas in our state.”
Raatz added that SB 566 is a result of a housing study created by the Eastern Indiana Regional Planning Commission, consisting of Fayette, Randolph, Rush, Union and Wayne counties.
SB 566 will now move to the full House of Representatives for consideration.
For a high-resolution photo of Sen. Raatz, click here.