SB0707C-Committee Bill Summary (House)
SCS SB 707 & 484 -- TAX INCREMENT FINANCING
SPONSOR: Flotron (Scheve)
COMMITTEE ACTION: Voted "do pass by consent" by the Committee on Commerce by a vote
of 23 to 0.
Current law excludes the blind pension fund tax and the merchant's and manufacturer's inventory
replacement tax from tax increment financing (TIF) projects, except in redevelopment projects
approved by the municipality's governing body after April 1, 1990, and before January 1, 1998.
This substitute specifies that these taxes are included in TIF projects approved after August 13,
1982, and before January 1, 1998. This substitute also allows 3 members of TIF commissions in
municipalities located in St. Louis County to be appointed by the county executive, with the
consent of the county council. The substitute contains an emergency clause.
FISCAL NOTE: Loss to Blind Pension Fund of Unknown in FY 1999, FY 2000, and FY 2001.
PROPONENTS: Supporters say that the bill corrects an error made in legislation passed last
year, relating to the appointment of county members to tax increment financing commissions in
Testifying for the bill was Senator Flotron.
OPPONENTS: There was no opposition voiced to the committee.
Debra Cheshier, Senior Legislative Analyst
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