DES MOINES, Iowa (AP) — Iowa lawmakers considered changes Tuesday to an economic development tool used for decades in some cities and counties that critics have alleged is unfairly relocating jobs from one community to another.
Members of the Senate's Ways and Means Committee, which oversees tax policy, is considering whether to overhaul the tax increment financing system (TIF), in which future tax revenue is dedicated to infrastructure work.
Some lawmakers say the practice, established in 1969, has been crucial to redeveloping urban areas. Others argue it's being misused.
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