Commission returns millions in PILOT funds to schools

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By Rich Sobolewski, Director of Interactive Content - bio | email

CHATTANOOGA -

(WRCB) - Superintendent Rick Smith says he'll put millions of dollars in new funds to immediate use.

Wednesday morning Hamilton County Commissioners voted to return control of PILOT funds to the school system.

PILOT stands for "Payment In Lieu of Taxes," and it's collected from large businesses like Volkswagen, so the school system doesn't lose money when they're given tax breaks.

Wednesday's voted reversed last year's decision to put the money in escrow.

Voting to keep control of the cash, were Commissioners Joe Graham, Fred Skillern and Jim Fields.

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WRCBtv.com | Chattanooga News, Weather & SportsCommission returns millions in PILOT funds to schools

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