SB 213 Summary

• Repeal and replace sections 99.810, 99.848, and 99.1042 of Missouri law governing tax increment financing for redevelopment and development projects.

• Limit redevelopment project ordinances to adoption within 10 years of the redevelopment plan approval, with municipalities able to create new redevelopment plans with independent funds after the 10-year period expires.

• Establish separate reimbursement requirements for emergency service districts: 50-100 percent of tax increment for districts providing emergency services under chapters 190 or 321 (applicable to projects approved after August 28, 2004), and 20 percent for non-emergency service districts (applicable to projects approved after August 28, 2013).

• Extend development financing duration to 25 calendar years and allocate 50 percent of economic activity taxes to the special allocation fund only for projects approved for state supplemental rural development financing.

• Grant all taxing districts the right for their elected boards to determine whether the district's tax increments shall be spent on the development project.