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MO HB914
Bill
Status
3/26/2013
Primary Sponsor
Kurt Bahr
Click for details
AI Summary
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Adds definitions for "anchor tenant" (any tenant leasing 15,000 square feet or more) and "incentives" (transportation development districts, tax increment financing, neighborhood improvement districts, community improvement districts, and other economic development incentives) to section 99.805
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Limits incentives received by any single redevelopment project to a maximum of $3 million per anchor tenant, effective August 28, 2013
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Prohibits any anchor tenant from being used to secure more than $15 million in aggregate incentives for redevelopment projects statewide
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Repeals the original section 99.805 and creates two new sections (99.805 and 99.807) relating to the real property tax increment allocation redevelopment act
Legislative Description
Modifies the real property tax increment allocation redevelopment act
Last Action
HCS Voted Do Pass (H)
4/23/2013