SB 155 Modifies provisions of Missouri's Real Property Tax Increment Allocation Redevelopment Act
Sponsor: Rupp
LR Number: 1041S.04C Fiscal Note: 1041-04N.ORG
Committee: Ways and Means and Fiscal Oversight
Last Action: 5/13/2011 - S Informal Calendar S Bills for Perfection--SB 155-Rupp, with SCS Journal Page:
Title: SCS SB 155 Calendar Position:
Effective Date: August 28, 2011

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Current Bill Summary

SCS/SB 155 - Under current law, a municipality desiring to approve a tax increment financing project, which has received a recommendation in opposition from the tax increment finance commission, may do so only by a two-thirds majority vote of the governing body of such municipality. This act would limit the application of such provision to municipalities located within St. Charles, Jefferson, and St. Louis Counties and prohibit the governing body of such a municipality from approving a tax increment finance project if the tax increment finance commission makes a recommendation in opposition to such project, unless the question is submitted to the voters of the municipality and the question is approved by a two-thirds majority of the voters.