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MO SB519
Bill
Status
2/25/2015
Primary Sponsor
Ronald Richard
Click for details
AI Summary
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Exempts redevelopment areas in St. Louis City (a city not within a county) that are contiguous with former public housing sites from the existing $32 million annual cap on Missouri Supplemental Tax Increment Financing Fund disbursements
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Applies only to projects that may lead to retention and expansion of over 2,000 jobs associated with a geospatial-intelligence facility
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Establishes a separate annual cap of $4 million in new state revenues for qualifying geospatial-intelligence redevelopment areas
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Amends Section 99.845, RSMo, which governs tax increment financing allocation and the distribution of payments in lieu of taxes to municipalities
Legislative Description
Creates a separate $4 million cap for state supplemental TIF projects in St. Louis City associated with geospatial-intelligence facilities
Last Action
Second Read and Referred S Jobs, Economic Development and Local Government Committee
3/10/2015