SB 80 – Dedicates at least 10% of future TIF increments to schools affected by the TIF

• Sponsor: Bartle
• LR Number: 0119S.02I
• Committee: Economic Development, Tourism & Local Government
• Last Action: 2/2/2005 - Hearing Conducted S Economic Development, Tourism & Local Government Committee
• Effective Date: August 28, 2005

Current Bill Summary

SB 80 - This act requires that future TIF projects dedicate at least 10% of the tax increment that would otherwise be used to fund the redevelopment project and at least 10% of all payments in lieu of taxes to any school within the boundary of the TIF area. Where more than one school is located within the TIF area, the 10% portion will be divided pro rata by the land area of the school districts contained within the TIF area.

Because this act amends a double-enacted section, the act also repeals one version of Section 99.845, RSMo.

The act is similar to SB 1056 (2004).

ANDY LYSKOWSKI