An act relating to the City of Barre tax increment financing district

This bill extends the City of Barre's ability to borrow money for its tax increment financing district until March 31, 2026, and allows the city to keep collected property taxes for that district until December 31, 2039. The legislation directly affects the City of Barre by modifying the time limits on how long it can use tax increment financing to fund projects and retain the resulting tax revenue. By overriding previous state laws, the bill gives the city more flexibility to manage its financing district without needing new legislative approval for these specific extensions. The changes take effect on July 1, 2023, providing the city with additional time to plan and implement development projects supported by the financing district.