SB 1056 Dedicates 10% of future TIF increments to schools affected by the TIF
LR Number:3947S.01I Fiscal Note:3947-01
Committee:Ways and Means
Last Action:02/10/04 - Hearing Conducted S Ways & Means Committee Journal page:
Effective Date:August 28, 2004
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Current Bill Summary

SB 1056 - This act requires that future tax increment financing (TIF) projects dedicate 10% of the tax increment that would otherwise be used to fund the redevelopment project 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.