STATE HOUSE PASSES LEGISLATION TO OFFER TAX BREAKS TO “ZOMBIE MALLS”

The state House has passed legislation that offers tax breaks to redevelop so-called zombie malls. The legislation would allow local governments to exempt malls for ten years from any property-tax increases when they redevelop underused malls as mixed-use properties. The tax breaks could be extended if developers add affordable housing, renewable energy systems and green space to their plans. The bill now heads to the state Senate.