HB 523 -- Tax Increment Financing Agreements

Sponsor:  LeVota

This bill requires any developer who violates a tax increment
financing agreement in a manner that damages the
revenue-generating ability of a pre-existing business to
compensate the affected business for the amount of lost sales
revenue.  The amount will be calculated from the time the
violation first occurred until the developer has fully
compensated the business.  Any governing body with jurisdiction
over the project may provide procedures for calculating the lost
revenue and reaching a settlement agreement.

Missouri House of Representatives
94th General Assembly, 1st Regular Session
Last Updated July 25, 2007 at 11:19 am