HB 746 -- DOWNTOWN REVITALIZATION PRESERVATION REDEVELOPMENT
PROJECTS

SPONSOR:  Bringer

COMMITTEE ACTION:  Voted "do pass by consent" by the Committee on
Job Creation and Economic Development by a vote of 13 to 0.

This bill allows contributions to a downtown revitalization
preservation development project from any private not-for-profit
organization or local contributions from tax abatement or other
sources to be substituted on a dollar-for-dollar basis for the
local match of 100% of payments in lieu of taxes and economic
activity taxes from the development's fund.

FISCAL NOTE:  No impact on state funds in FY 2010, FY 2011, and
FY 2012.

PROPONENTS:  Supporters say that the bill will allow downtown
revitalization preservation development projects, commonly
referred to as MODESA-lite projects, to operate the same way as
Missouri Downtown Economic Stimulus Act projects and will help
smaller communities by allowing them to leverage in-kind
contributions and funds from certain organizations so they can
participate in downtown revitalization projects.

Testifying for the bill was Representative Bringer.

OPPONENTS:  There was no opposition voiced to the committee.

Missouri House of Representatives
95th General Assembly, 1st Regular Session
Last Updated November 17, 2009 at 9:25 am