SCS SB 155 Summary

• Repeals and re-enacts section 99.825, RSMo, governing public hearing procedures for tax increment financing redevelopment projects and areas in Missouri.

• Requires municipalities to hold public hearings and notify all affected taxing districts before approving redevelopment plans, projects, or designating redevelopment areas; interested parties may file written objections and testify orally.

• Allows municipalities to override a commission recommendation against a redevelopment project if voters within the municipality approve it by at least two-thirds majority vote, as an alternative to a two-thirds governing body vote.

• Restricts tax increment financing projects in economic development areas to fund only infrastructure improvements such as highways, roads, streets, bridges, sewers, traffic control systems, water systems, curbing, and sidewalks, explicitly excluding buildings.

• Permits minor changes to redevelopment plans and boundaries after initial approval without a new hearing if changes do not enlarge exterior boundaries or substantially affect established land uses, with at least ten days' prior notice by mail and newspaper publication to affected taxing districts.