House Committee Considers Changes to TIF Law

Legislation to change the law regarding Missouri’s Tax Increment Financing – or TIF – is being considered by a House committee. Representative Bob Johnson of Lee’s Summit sponsors the bill which creates and defines twelve conditions of “blight” which may be used for cities and counties wanting to offer TIFs for economic development. Jeffrey Kaczmarek, President and CEO of the Economic Development Corporation of Kansas City, opposes the legislation. He says developers are more likely to put their dollars into areas that already provide infrastructure and communities must be allowed to use the TIF as a tool. Kaczmarek says a TIF or other incentive now leads to greater revenues going to cities and counties in the future.