To expand the community revitalization program to allow local governments to finance public improvements not only using increased property tax revenues, but also excess excise tax revenues, and revenue generated through a sales and use tax, up to $1 million per year, per project, credited against the state sales and use tax in an increment area. The bill limits the annual aggregate amount of new local sales and use taxes that may be credited against the state tax to $5 million initially. See companion HB 1907.   Official Text and Analysis.

To promote economic development and community revitalization.