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MO SB162
Bill
Status
1/7/2015
Primary Sponsor
Jamilah Nasheed
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AI Summary
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Creates a new category called "arts and education district redevelopment area" for redevelopment zones located in a city not within a county (St. Louis City) that have more than five redevelopment projects approved under a plan prior to 2004
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Extends eligibility for economic activity taxes and payments in lieu of taxes (PILOT) to up to 25 years from the date of ordinance approval for qualifying arts and education district projects
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Requires passage of a separate ordinance specifically authorizing the 25-year extended period for the arts and education district redevelopment area
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Amends Chapter 99, RSMo by adding new section 99.844, overriding standard TIF provisions in sections 99.800 to 99.865
Legislative Description
Authorizes certain tax increment financing projects in St. Louis City to have a longer project period
Last Action
Second Read and Referred S Jobs, Economic Development and Local Government Committee
1/29/2015