HARRY HUGHES, Governor

1537

2.  Mercantile, retail, or service
facilities that primarily serve out-of-state markets; or

3.  Office buildings for use as
corporate or company headquarters or as regional offices for
any business activity, including the activities mentioned in
this subsection and nonprofit organizations;

(iv) The dredging of spoils from tidal
waters and the filling of adjoining land;

(v) The development of areas for the
disposal of spoils;

(vi) The construction, reconstruction, or
repair of bulkheads, berths, wharves, supply sheds, storage
buildings, or other facilities, appurtenances, and equipment
necessary or useful in connection with the operation of a
modern port; [or]

(vii) Acquisition,                        refinancing,

rehabilitation, or improvement of a public use airport; OR

(VIII) THE CONSTRUCTION, EQUIPPING, OR
FINANCING OF A SPORTS ARENA OR SPORTS STADIUM USED BY A
PROFESSIONAL TEAM WITH A FRANCHISE FOR MAJOR OR MINOR LEAGUE
BASEBALL, BASKETBALL, FOOTBALL, OR ICE HOCKEY OR SOCCER.

(2) "Industrial project" does not include any

mercantile, retail, or service establishment except as

specified in paragraph (l)(iii) [and], (vii), AND (VIII) of
this subsection.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act
shall take effect July 1, 1980.

Approved May 6, 1980.

CHAPTER 498

(House Bill 1888)

AN ACT concerning

Tax Increment Financing

FOR the purpose of enabling municipalities and counties to
borrow money and issue certain types of bonds;
providing for the purposes for which proceeds of the
bonds may be used; providing a method of repaying the
bonds; providing for conditions precedent to the
issuance of such bonds, including the designation of a