HB 103 -- Tax Increment Financing

Sponsor:  Portwood

This bill changes the laws regarding tax increment financing
(TIF).  In its main provisions, the bill:

(1)  Prohibits the revenue from any increase in any tax within a
TIF district from being used for anything other than the
specified purpose of the tax increase;

(2)  Changes the definitions of "blighted area" and "conservation
area";

(3)  Changes the definition of "redevelopment project costs" to
include extraordinary professional service costs which are
required under the Real Property Tax Increment Allocation
Redevelopment Act;

(4)  Requires that conditions and contingencies of commitments to
finance redevelopment project costs be included in the required
general description of a redevelopment plan;

(5)  Requires redevelopment plans adopted by municipal and county
governments to be re-adopted by two-thirds of all members of the
governing body if a petition is submitted according to procedures
established in the bill;

(6)  Requires redevelopment plans adopted by municipal and county
governments to be re-adopted by two-thirds of all members of the
governing body if the TIF Commission makes a negative
recommendation;

(7)  Authorizes TIF projects within the 100-year flood plain in
the City of St. Charles if the redevelopment area actually abuts
a river or major waterway and is substantially surrounded by
contiguous properties with residential, industrial, or commercial
zoning classifications.  Currently, no TIF projects are allowed
in the flood plain in certain areas in St. Charles County;

(8)  Specifies that if a TIF project includes residential uses,
real property tax revenues attributable to the residential
portion of the development will go directly to the affected
school districts unless commission members representing the
affected districts say they will forgo this revenue; and

(9)  Requires that those persons or entities receiving the
financing on a TIF project in Kansas City or St. Louis must make
good faith efforts to use minority or women's business
enterprises on the project.

Missouri House of Representatives
94th General Assembly, 1st Regular Session
Last Updated July 25, 2007 at 11:18 am