Use of tax revenues collected within Major 21st Century Manufacturing Zones.

Notwithstanding any other provision of the Constitution, public moneys, including ad valorem tax revenues, collected within a tax increment district located within a Major 21st Century Manufacturing Zone as defined by law, and proceeds of obligations issued by the municipality or county establishing the district for the purposes of redevelopment or revitalization of property located therein, may be expended for the acquisition of the property and the redevelopment, rehabilitation, or conservation thereof, and the moneys, property, and proceeds may be disposed of, whether to or for the benefit of private interests or otherwise, for such consideration as shall be determined in the discretion of the governing body of the county or municipality, as the case may be, that established the district and without regard to Sections 93 and 94 of this Constitution. Any obligations of a municipality or county issued for the purposes set forth above shall not be chargeable against the constitutional debt limit of the municipality or county. The exercise of any powers granted in the Major 21st Century Manufacturing Zone Act, Act 2013-51, by any municipality or county, or the governing body thereof, shall not be subject to those limitations or restrictions that would otherwise have been applicable under Section 93 or Section 94 of this Constitution. The Major 21st Century Manufacturing Zone Act, Act 2013-51, is hereby validated and confirmed.