SB 651 Dedicates at least ten percent of future TIF increments to schools affected by the tax increment financing
Sponsor: Bartle
LR Number: 3337S.01I Fiscal Note: 3337-01
Committee: Economic Development, Tourism & Local Government
Last Action: 1/25/2006 - Hearing Conducted S Economic Development, Tourism & Local Government Committee Journal Page:
Title: Calendar Position:
Effective Date: August 28, 2006

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Current Bill Summary

SB 651 - 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 located at least partially 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.

This act is identical to SB 80 (2005).