SECOND REGULAR SESSION

HOUSE BILL NO. 1823

96TH GENERAL ASSEMBLY


 

 

INTRODUCED BY REPRESENTATIVES BROWN (85) (Sponsor), ENTLICHER, WIELAND, WHITE, KOENIG, BRATTIN, ATKINS, KELLEY (126), McNARY, LICHTENEGGER, BAHR, LEACH, KIRKTON AND REDMON (Co-sponsors).

5307L.01I                                                                                                                                                  D. ADAM CRUMBLISS, Chief Clerk


 

AN ACT

To amend chapter 99, RSMo, by adding thereto one new section relating to tax increment financing.




Be it enacted by the General Assembly of the state of Missouri, as follows:


            Section A. Chapter 99, RSMo, is amended by adding thereto one new section, to be known as section 99.856, to read as follows:

            99.856. 1. No company shall benefit from a tax increment financing project if such company relocates from within the state of Missouri.

            2. If a company opens a new business while closing an existing business within ten miles from the new business and within a two-year period and such company received a benefit through tax increment financing for the new business, such company shall forfeit such benefit.