General fund could be tapped to bail out troubled TIFs under bill out of Senate Finance Committee

The general fund of a city or county could be tapped to bail out troubled TIFs under a bill that passed out of the state Senate Finance Committee this week.

The bill could possibly put taxpayers even more on the line for developments constructed through Tax Increment Financing (TIF) plans.

Sen. Joey Fillingane, R-Sumrall, chair of the senate finance committee, authored Senate Bill 2550, which would allow governing bodies to use monies from the general fund to pay the debt service on troubled developments.

Madison County Journal
2/6/15