Family Living Act of 2003: Difference between revisions

m
Line 27: Line 27:


===Incentives for UTCs===
===Incentives for UTCs===
The FLA made alterations to the tax law to provide incentives for developers to construct subdivisions which also included new or rehabilitated mixed-use structures, creating a legal framework for what would later be known as the "[[Housing_in_Urcea#Urban_town_and_country|urban town and country]]" model. The incentive scheme would grant as much as a 58% real property tax exemption for any subdivision which would include at least 20% mixed use development, a figure that would increase to 67% if such subdivision included preexistent and historic structures. The incentives also involved significant tax write-offs for construction-related expenses. The latter provision was intended to incentivize developers to build new developments around older, near-abandoned small towns or villages that were left behind following the downturn in the nation's industrial economy. Under the provisions of the law, the mixed-use structures had to actually be completed as mixed-use instead of being eventually transitioned to all-residential; in that case, the law stipulates a claw-back of exempted taxes from the developer by the [[Ministry_of_Administration_of_the_Realm_(Urcea)#Department_of_Administration_of_Tax_Collection_and_Receipts|Department of Administration of Tax Collection and Receipts]], which the law provided with additional funding to help ensure implementation. UTCs were subsequently enhanced in an amendment to the FLA passed in [[2012]] which created subsidies for local public transit agencies to construct new transit lines into downtown areas of UTCs.
The FLA made alterations to the tax law to provide incentives for developers to construct subdivisions which also included new or rehabilitated mixed-use structures, creating a legal framework for what would later be known as the "[[Housing_in_Urcea#Urban_town_and_country|urban town and country]]" model. The incentive scheme would grant as much as a 58% real property tax exemption for any subdivision which would include at least 20% mixed use development, a figure that would increase to 67% if such subdivision included preexistent and historic structures. The incentives also involved significant tax write-offs for construction-related expenses. The latter provision was intended to incentivize developers to build new developments around older, near-abandoned small towns or villages that were left behind following the downturn in the nation's industrial economy. Under the provisions of the law, the mixed-use structures had to actually be completed as mixed-use instead of being eventually transitioned to all-residential; in that case, the law stipulates a claw-back of exempted taxes from the developer by the [[Ministry_of_Administration_of_the_Realm_(Urcea)#Department_of_Administration_of_Tax_Collection_and_Receipts|Department of Administration of Tax Collection and Receipts]], which the law provided with additional funding to help ensure implementation. UTCs were subsequently enhanced in an amendment to the FLA known as the Connectivity Act passed in [[2012]] which created subsidies for local public transit agencies to construct new transit lines into downtown areas of UTCs.


===Protections for Proprietor Communes===
===Protections for Proprietor Communes===