Missouri HB1777 modifies tax increment financing categories for redevelopment projects.

Missouri HB1777 modifies the categories of recipients that participate in tax increment financing for redevelopment projects. The bill specifies that redevelopment projects in blighted areas, including former automobile manufacturing plants and historic hotels, can use tax increment financing. It also details the types of taxes and revenues eligible for allocation to redevelopment projects, including state sales tax revenues and state income tax withheld by employers.

Missouri HB1777 modifies tax increment financing categories for redevelopment projects.

Missouri HB1777 modifies the categories of recipients that participate in tax increment financing for redevelopment projects. The bill specifies that redevelopment projects in blighted areas, including former automobile manufacturing plants and historic hotels, can use tax increment financing. It also details the types of taxes and revenues eligible for allocation to redevelopment projects, including state sales tax revenues and state income tax withheld by employers.