SB 221 - This act authorizes the State Auditor to audit any tax increment financing (TIF) redevelopment project in the same manner that he or she may audit any agency of the state. (Section 29.207)

This act also excludes local sales taxes whose revenue is dedicated to education programs or to a fire protection district from the definitions of "economic activity taxes" and "payment in lieu of taxes" for the purposes of funding TIF districts. (Sections 99.805 and 99.845)

This act prohibits the implementation of a TIF redevelopment project without its redevelopment plan receiving approval from the local TIF commission. (Section 99.820)

This act is identical to HB 1493 (2020).

JOSH NORBERG

Statutes affected:
Introduced (0523S.01): 29.207, 99.805, 99.820, 99.845

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Senate Committee Minutes:
SENATE COMMITTEE MINUTES Bill No.: SB 221
Sponsor: Beck
Hearing Date: 2/25/2021


COMMITTEE: Ways and Means

CHAIRMAN: Koenig

DATE REFERRED: 1/28/2021 DATE HEARING REQUESTED: 1/29/2021



STAFF:
Rob Krosley
Josh Norberg
Daniel Wilhelm


WITNESSES GIVING INFORMATION:
Randy Scherr - Missouri Economic Development Financing Association


WITNESSES FOR:
David Overfelt - Missouri Retailers Association


WITNESSES AGAINST:
Jim Erickson - Econoic Development Corporation of Kansas City, MO