The Missouri Senate Minute for Jan. 29: TIF

The first legislation of the year is talked about on the floor of the Missouri Senate. Among these measures is Senate Bill 570. Sponsor, Sen. Andrew Koenig of Manchester, says his proposal would modify provisions relating to tax-increment financing…

“We have a redefinition of ‘blight,'” Sen. Koenig said. “We take out, actually, platting and improper subdivision.”

This comes a year after a similar proposal is filed. During discussion, Sen. Lauren Arthur of Kansas City mentions tax-increment financing tends to benefit school districts…

“This is an important tool, but, it can be abused or overused in certain cases,” Sen. Arthur said.

Senate Bill 570 receives preliminary approval on Tuesday afternoon. Committee hearings also continue in the Missouri Senate as lawmakers work toward concluding the fourth week of the Second Regular Session of the 100th General Assembly.