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MO SB114

Bill

Official Source

Status

Introduced

1/7/2015

Primary Sponsor

Will Kraus

Click for details

Origin

Senate

2015 Regular Session

AI Summary

  • School districts and library districts (authorized under chapter 182) would receive 50% reimbursement of their tax increment from the special allocation fund in tax increment financing (TIF) arrangements

  • Emergency services districts (under chapters 190 or 321) retain existing reimbursement rights of 50-100% of their tax increment from TIF funds

  • The new school and library district reimbursement provision applies only to TIF projects or districts approved on or after August 28, 2015

  • Emergency services district reimbursement exemption for pre-existing projects remains unchanged (projects approved before August 28, 2004)

  • Amends section 99.848, RSMo, by adding a new subsection specifically addressing school and library district TIF reimbursements

Legislative Description

Allows school and library districts to be reimbursed for 50% of their tax increment under a TIF plan

Last Action

Hearing Conducted S Jobs, Economic Development and Local Government Committee

3/4/2015

Committee Referrals

Jobs, Economic Development And Local Government1/22/2015

Full Bill Text

No bill text available