FIRST REGULAR SESSION
HOUSE BILL NO. 1083
94TH GENERAL ASSEMBLY
INTRODUCED BY REPRESENTATIVES FUNDERBURK (Sponsor), DAVIS, WALLACE AND WETER (Co-sponsors).
Read 1st time March 7, 2007 and copies ordered printed.
D. ADAM CRUMBLISS, Chief Clerk
To repeal section 99.815, RSMo, and to enact in lieu thereof one new section relating to tax increment financing projects.
Be it enacted by the General Assembly of the state of Missouri, as follows:
Section A. Section 99.815, RSMo, is repealed and one new section enacted in lieu thereof, to be known as section 99.815, to read as follows:
99.815. When a county of this state desires to implement a tax increment financing project within the boundaries of a municipality partially or totally within the county, such county shall first obtain the permission of the governing body of the municipality located within the county. When a municipality of this state desires to implement a tax increment financing project within the boundaries of any other taxing entity, whether partially or totally within the boundaries of any taxing entity, such municipality shall not be able to pledge the revenues of any other sales taxing entity without first obtaining the permission of the governing body of each sales taxing entity in the form of an order or ordinance supporting the diversion of that taxing entity's duly levied taxes. Failure to obtain such permission shall prevent the jurisdiction implementing the tax increment financing project from obtaining payments in economic activity taxes from the other sales taxing entities at any time during the existence of the tax increment financing project. When the term "municipality" is used within sections 99.800 to 99.865, such term may be interpreted to include a county implementing a tax incremental financing project.