AGENDA ITEM 17
Faden, Senior Legislative Attorney
Expedited Bill 55-10, Taxation - Transportation Impact
Tax - Credits - Amendments
Expedited Bill 55-10, Taxation - Transportation Impact Tax - Credits - Amendments,
sponsored by Councilmembers Knapp and EIrich, was introduced on October 26, 2010. Action
is tentatively scheduled following the public hearing.
Bill 55-10 would clarify the extent to which certain entities may apply unused
transportation impact tax credits to satisfy an obligation under Policy Area Mobility Review or a
successor policy area transportation test. This bill would modify an amendment to Bill 19-10,
Taxes - Transportation Impact Tax - Amendments, which the County Executive returned
unsigned on October 25.
This Bill would modify the previously-adopted amendment by:
• limiting any credits allowed to $1.7 million; and
• allowing credits to be used only if the Executive designates the receiving
development as a strategic economic development project.
This packet contains:
Expedited Bill 55-10
Legislative Request Report
F:\LAW\BILLS\1055 Impact Tax - Credits - Amendments\Public Hearing-Action Memo.Doc