Section X-6C.

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Section X-6C.: enterprise areas - Economic stagnation or decline - Use of local taxes and fees for public investments - Development or redevelopment of unproductive, etc. areas.

    A.  The Legislature, by law, may grant incorporated cities,
towns, or counties the ability to provide incentives, exemptions and
other forms of relief from taxation for historic preservation,
reinvestment, or enterprise areas that are exhibiting economic
stagnation or decline.  Relief from taxes imposed by other local
taxing jurisdictions shall only be allowed by contractual arrangement
with the municipal or county governing body.  The law shall require
public hearings before such relief may be granted and shall provide
for the local initiative power and referendum of the people.  The
Legislature may set limitations on the cumulative incentives and
relief provided pursuant to the provisions of this section, the time
period for the exemptions, the geographical area of the jurisdiction
covered, the percentage of the tax base of the jurisdiction eligible
for the relief programs, and threshold limits of investment credit
and jobs created.
    B.  The Legislature, by law, may authorize that the cities,
towns, or counties may specifically use local taxes and local fees,
in whole or in part, for specific public investments, assistance in
development financing, or as a specific revenue source for other
public entities in the area in which the improvements take place and
may direct the apportionment of the taxes and fees specified in this
subsection for the purposes specified in this section.  The
Legislature may establish for this subsection, the same procedures
and limitations authorized in subsection A of this section.
    C.  The Legislature, by law, may authorize any city, town, or
county to plan, finance and carry out the development or
redevelopment of areas determined by the governing body of such city,
town, or county to be unproductive, undeveloped, underdeveloped or
blighted.  The authority of the county shall be limited to the
unincorporated areas of such county but any city, town or county may
by agreement jointly plan, finance or carry out a development plan
with any other public or private entity for one or more development
projects within their respective boundaries.
    D.  Any city, town, or county may exercise the provisions of this
section separately or in combination with powers granted by any other
laws of this state.

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