Tampa Bay Business Journal's Editor in Chief, Alexis Muellner, published an extensive background story on the Community Investment Tax (CIT) in advance of voters deciding its fate during the General Election. Hillsborough County Commissioners are scheduled to meet on CIT funded projects on July 17. "It's crunch time," wrote Muellner, then going into details on the efforts involved in creating Hillsborough County's CIT in 1996 and explaining how 9% of CIT tax dollars go to the upkeep and investments at Raymond James Stadium. Under the terms of the proposed renewal, 50% of CIT tax dollars would go to transportation needs in Hillsborough and 5% of those tax dollars would go to the Hillsborough County Public School District for capital needs.
The Hillsborough County sales tax does not expire for nearly 2 years, however voters will be asked to decide during the November 2024 ballot whether to renew or allow it to expire in late 2026. The June 28, 2024 TBBJ story reads, in part:
"Voters approved the half-percent (CIT) sales tax in September 1996 for 30 years. It expires in late 2026. CIT-funded capital improvement projects include construction, renovation, replacement and expansion of existing facilities, assets and infrastructure. Capital equipment typically includes fire rescue and police vehicles..."
"Who will lead and promote it in the private sector is looming over the current effort. Hillsborough, the school board and the cities of Tampa, Temple Terrace and Plant City have now put together lists of spending priorities for primarily public safety and transportation over the 15 year period of the tax. As the process of putting the CIT on the November ballot continues, county commissioners will discuss the projects at a July 17 meeting, which will be similarly scheduled at the other municipalities before the referendum details head to the Supervisor of Elections office. "
Click here to read the full story.