SB 1276 Modifies provisions of law requiring the creation of county-wide tax increment finance commissions
Sponsor: Griesheimer
LR Number: 5389S.01I Fiscal Note:
Committee: Economic Development, Tourism & Local Government
Last Action: 3/3/2008 - Second Read and Referred S Economic Development, Tourism & Local Government Committee Journal Page: S425
Title: Calendar Position:
Effective Date: August 28, 2008

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Current Bill Summary

SB 1276 - Under current law, municipalities located within counties subject to the authority of the East-West Gateway Council of Governments, except those located in Franklin County, are required to create a county-wide TIF commission for the approval of tax increment finance projects. This act removes reference to the East-West Gateway Council of Governments and specifically requires municipalities located within the counties of Jefferson, St. Louis and St. Charles to create county-wide TIF commissions for approval of projects. The act provides membership requirements similar to those provided under current law, as well as a time-line for public hearings on projects and determinations of the commission. Failure of the county-wide TIF commission to make a determination on any given project within the time provided within the act will result in the commission being deemed to have made a recommendation in opposition to such project.

The act repeals a doubly-enacted version of Section 99.825, RSMo.