TIF tiff | Arkansas Blog

Friday, April 27, 2007

TIF tiff

Posted By on Fri, Apr 27, 2007 at 6:04 AM

The Morning News has a good roundup from the Northwest Arkansas perspective on yestereday's Supreme Court ruling that outlawed capture of the required 25 mills of local property tax support for schools for Tax Increment Finance redevelopment districts. The possibility that the court would rule this way had already prompted a change in thinking on TIF districts in that part of the state.

I see in the D-G that NLR Mayor Hays still lusts over the 19 school mills assessed in excess of the 25 base mills to provide some corporate welfare swag for Bruce Burrow's Bass Pro development. It might be foolhardy, but I still hope someone will directly address the question of how the redevelopment amendment overrode baseline constitutional provisions that limit expenditure of school tax money to the operating purposes for which they were voted. That point wasn't addressed directly, only by implication (and then in a bad way), in Thursday's Supreme Court ruling. A TIF scheme in Louisiana was successfully attacked for taking money voted for one purpose and using it for corporate welfare.

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