HB 1731 -- Tax Increment Financing

Sponsor:  Lembke

This bill changes the definition of "blighted area" as it relates
to tax increment financing (TIF).  The area must:

(1)  Have buildings that are unsanitary, unsafe for living or
working, or substantially vacant;

(2)  Have a crime rate significantly higher than in surrounding
neighborhoods;

(3)  Be characterized by pervasive poverty, unemployment, and
general distress by having at least 75% of the residents with
incomes below 80% of the state's median income and a level of
unemployment exceeding 150% of the state's average for the
previous 12 months; and

(4)  Have a cost-benefit analysis done by an independent
contractor which includes how the project will affect tax
revenues if it is completed with or without TIF and any
substantial and certain long-term economic feasibility and
benefits to the affected taxing districts.

Missouri House of Representatives
93rd General Assembly, 2nd Regular Session
Last Updated November 29, 2006 at 9:44 am