HB 2379 - DIGEST

     Declares that it is the purpose of this act to provide for the allocation of a portion of state and local retail sales and business and occupation taxes for a limited time to assist in the financing of needed health and safety improvements, public improvements, and other public investments in urban areas that are needed to encourage private development and to strengthen existing law to remedy problems arising from substandard and deteriorating buildings.

     Designates limitations on the apportionment of excise tax revenues to finance an urban stabilization program.

     Specifies procedures for applications for funding for programs.

     Declares that the authority for apportionment districts expires July 1, 2007.