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MO House passes limits to TIFs

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By AP/KWMU

St. Louis, MO – Lawmakers in the Missouri House gave initial approval Tuesday to legislation that makes it harder for developers to get certain tax breaks.

Tax increment financing, or TIF, allows municipalities to pay for development projects by using the taxes that would have gone to local government entities such as school districts.

The House approved restricting the use of TIFs on undeveloped land. The measure would also allow voters to force local governments to reconsider controversial TIF projects and it defines 'blight' more explicitly.

Land needs to be considered blighted before TIFs can be used.

The move to restrict TIFs has picked up momentum after several towns or cities approved the tax breaks over the objections of school boards, residents and other government entities that stood to lose those tax revenues.

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