HB 775 -- Tax Increment Financing Guidelines

Sponsor:  Johnson (47)

For projects approved after December 31, 2004, this bill permits
tax increment financing (TIF) to be used for no more than 25% of
the total estimated redevelopment costs for projects that are
primarily retail.  The bill prohibits TIF from being used to
develop sites in which 25% or more of the area is vacant or if
the area is currently being used for agricultural or
horticultural purposes.

The bill also requires municipalities that receive payments in
lieu of taxes from a redevelopment project to pay 25% of these
payments to other taxing entities which may be entitled to
receive revenue from levies on real property.  When a TIF project
includes residential uses, the bill requires that the real
property tax levies attributable to the residential portion of
the development pass through to the school district.

Missouri House of Representatives
92nd General Assembly, 2nd Regular Session
Last Updated September 23, 2004 at 11:13 am