Missouri State Senate

Introduced

SB 343 - The act extends the previous cap on the amount of the appropriation of fifteen million dollars. Provisions now provide that the annual amount of the revenues approved for disbursements from the MO supplemental tax increment financing fund, in combination with the annual amount of other new revenues approved for disbursements from the state supplemental downtown development fund (under Section 99.960, RSMo) shall not exceed one hundred fifty million dollars.

Under the act, redevelopment project costs may include portions of salaries and expenses of the Department of Economic Development and the Department of Revenue allocable to each redevelopment project approved for disbursements from the MO supplemental tax increment financing fund for administrative functions associated with such redevelopment project. The amounts shall be recovered from new state revenues deposited in the MO supplemental tax increment financing fund.

ANDY LYSKOWSKI

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