In my personal opinion, the single most important thing the Missouri General Assembly needs to do this year is pass Tax Increment Financing reform. SB 721 is a great way to accomplish that for the Saint Louis area, at least. The bill has passed the senate and a house committee. All it needs now is to pass out of the full House of Representatives. Passing this bill would be a great policy change for Missouri as it would greatly reduce the tax giveaways that are killing our local property tax base and encouraging the worst types of local economic planning and eminent domain abuse.
SB 721 would limit the ability of cities to override the county TIF commissions. It would greatly reduce the absurd spectacles of city councils representing a few thousand people imposing their will over the objections of county TIF commissions representing a few hundred thousand people.
Yes, I would like to see these reforms moved to other parts of the state as well, especially the Kansas City area. But for now, limiting TIF in Saint Louis would be a great start. Passage of TIF reform and SB 721 would be an outstanding policy change for Missouri.
