LINCOLN- Under Sen. Machaela Cavanaugh's LB746, voters in any Nebraska city would have to approve a tax-increment financing request that exceeds $20 million. Sen. Cavanaugh introduced the bill to limit Omaha's use of TIF in particular, which, according to Cavanaugh, has been a bit too trigger-happy with TIF when starting large projects. "It's not about the merits of the project, it's the process," said Cavanaugh in defense of her bill, "Are we honoring the intention of TIF, and are we honoring the people? These are the people's tax dollars."

TIF, a popular and at times controversial tool, is intended to spur the revival of "blighted" areas and is often awarded to developers to cover redevelopment expenses before begin paid back over 15 or 20 years. Normally, the property tax payments go to support schools and other local tax-reliant bodies. Cavanaugh, during an Urban Affairs Committee hearing, stated that she introduced the bill in response to the recent flurry of TIF-supported projects in Omaha, including the Streetcar project and Mutual of Omaha's planned downtown office tower.

Officials from the City of Omaha and the Greater Omaha Chamber of Commerce testified in opposition to the bill, saying that the city already offers the opportunity for public opinion at various points throughout the TIF process. Jacquelyn Morrison, an economic development aide to Omaha Mayor Jean Stothert, said that few projects in the past couple of years fell within the parameters of this bill.

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