SB 199 Exempts certain projects from the Tax Increment Allocation Redevelopment Act annual appropriation cap
Sponsor: Wasson
LR Number: 0894S.01I Fiscal Notes
Committee: Economic Development
Last Action: 5/12/2017 - Informal Calendar S Bills for Perfection--SB 199-Wasson Journal Page:
Title: Calendar Position:
Effective Date: August 28, 2017

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Current Bill Summary

SB 199 - Current law caps the annual amount of new state revenues that may be appropriated to the Missouri Supplemental Tax Increment Financing Fund for redevelopment projects under the Real Property Tax Increment Allocation Redevelopment Act at $32 million. This act excludes from this cap any annual amounts generated by any single plan or project which is estimated to create in excess of fifteen thousand new jobs with an average annual wage of more than $75,000.

This act is substantially similar to HB 772 (2017) and is similar to a provision contained in HCS/SB 134 (2017).