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SECOND REGULAR SESSION
HOUSE BILL NO. 1777
103RD GENERAL ASSEMBL Y
INTRODUCED BY REPRESENT A TIVE AMA TO .
3920H.01I JOSEPH ENGLER, Chief Clerk
AN ACT
T o repeal section 99.845, RSMo, and to enact in lieu thereof one new section relating to tax
increment financing.
Be it enacted by the General Assembly of the state of Missouri, as follows:
Section A. Section 99.845, RSMo, is repealed and one new section enacted in lieu
2 thereof, to be known as section 99.845, to read as follows:
99.845. 1. A municipality , either at the time a redevelopment project is approved or ,
2 in the event a municipality has undertaken acts establishing a redevelopment plan and
3 redevelopment project and has designated a redevelopment area after the passage and
4 approval of sections 99.800 to 99.865 but prior to August 13, 1982, which acts are in
5 conformance with the procedures of sections 99.800 to 99.865, may adopt tax increment
6 allocation financing by passing an ordinance providing that after the total equalized assessed
7 valuation of the taxable real property in a redevelopment project exceeds the certified total
8 initial equalized assessed valuation of the taxable real property in the redevelopment project,
9 the ad valorem taxes, and payments in lieu of taxes, if any , arising from the levies upon
10 taxable real property in such redevelopment project by taxing districts and tax rates
11 determined in the manner provided in subsection 2 of section 99.855 each year after the
12 ef fective date of the ordinance until redevelopment costs have been paid shall be divided as
13 follows:
14 (1) That portion of taxes, penalties and interest levied upon each taxable lot, block,
15 tract, or parcel of real property which is attributable to the initial equalized assessed value of
16 each such taxable lot, block, tract, or parcel of real property in the area selected for the
17 redevelopment project shall be allocated to and, when collected, shall be paid by the county
EXPLANA TION — Matter enclosed in bold-faced brackets [thus] in the above bill is not enacted and is
intended to be omitted from the law . Matter in bold-face type in the above bill is proposed language.
18 collector to the respective af fected taxing districts in the manner required by law in the
19 absence of the adoption of tax increment allocation financing;
20 (2) (a) Payments in lieu of taxes attributable to the increase in the current equalized
21 assessed valuation of each taxable lot, block, tract, or parcel of real property in the area
22 selected for the redevelopment project and any applicable penalty and interest over and above
23 the initial equalized assessed value of each such unit of property in the area selected for the
24 redevelopment project shall be allocated to and, when collected, shall be paid to the municipal
25 treasurer who shall deposit such payment in lieu of taxes into a special fund called the
26 "Special Allocation Fund" of the municipality for the purpose of paying redevelopment costs
27 and obligations incurred in the payment thereof. Beginning August 28, 2014, if the voters in
28 a taxing district vote to approve an increase in such taxing district's levy rate for ad valorem
29 tax on real property , any additional revenues generated within an existing redevelopment
30 project area that are directly attributable to the newly voter -approved incremental increase in
31 such taxing district's levy rate shall not be considered payments in lieu of taxes subject to
32 deposit into a special allocation fund without the consent of such taxing district. Revenues
33 will be considered directly attributable to the newly voter- approved incremental increase to
34 the extent that they are generated from the dif ference between the taxing district's actual levy
35 rate currently imposed and the maximum voter -approved levy rate at the time that the
36 redevelopment project was adopted. Payments in lieu of taxes which are due and owing shall
37 constitute a lien against the real estate of the redevelopment project from which they are
38 derived and shall be collected in the same manner as the real property tax, including the
39 assessment of penalties and interest where applicable. The municipality may , in the
40 ordinance, pledge the funds in the special allocation fund for the payment of such costs and
41 obligations and provide for the collection of payments in lieu of taxes, the lien of which may
42 be foreclosed in the same manner as a special assessment lien as provided in section 88.861.
43 No part of the current equalized assessed valuation of each lot, block, tract, or parcel of
44 property in the area selected for the redevelopment project attributable to any increase above
45 the total initial equalized assessed value of such properties shall be used in calculating the
46 general state school aid formula provided for in section 163.031 until such time as all
47 redevelopment costs have been paid as provided for in this section and section 99.850.
48 (b) Notwithstanding any provisions of this section to the contrary , for purposes of
49 determining the limitation on indebtedness of local government pursuant to Article VI,
50 Section 26(b) of the Missouri Constitution, the current equalized assessed value of the
51 property in an area selected for redevelopment attributable to the increase above the total
52 initial equalized assessed valuation shall be included in the value of taxable tangible property
53 as shown on the last completed assessment for state or county purposes.
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54 (c) The county assessor shall include the current assessed value of all property within
55 the taxing district in the aggregate valuation of assessed property entered upon the assessor's
56 book and verified pursuant to section 137.245, and such value shall be utilized for the purpose
57 of the debt limitation on local government pursuant to Article VI, Section 26(b) of the
58 Missouri Constitution;
59 (3) For purposes of this section, "levies upon taxable real property in such
60 redevelopment project by taxing districts" shall not include the blind pension fund tax levied
61 under the authority of Article III, Section 38(b) of the Missouri Constitution, or the
62 merchants' and manufacturers' inventory replacement tax levied under the authority of
63 subsection 2 of Section 6 of Article X of the Missouri Constitution, except in redevelopment
64 project areas in which tax increment financing has been adopted by ordinance pursuant to a
65 plan approved by vote of the governing body of the municipality taken after August 13, 1982,
66 and before January 1, 1998.
67 2. In addition to the payments in lieu of taxes described in subdivision (2) of
68 subsection 1 of this section, for redevelopment plans and projects adopted or redevelopment
69 projects approved by ordinance after July 12, 1990, and prior to August 31, 1991, fifty
70 percent of the total additional revenue from taxes, penalties and interest imposed by the
71 municipality , or other taxing districts, which are generated by economic activities within the
72 area of the redevelopment project over the amount of such taxes generated by economic
73 activities within the area of the redevelopment project in the calendar year prior to the
74 adoption of the redevelopment project by ordinance, while tax increment financing remains in
75 ef fect, but excluding taxes imposed on sales or char ges for sleeping rooms paid by transient
76 guests of hotels and motels, taxes levied pursuant to section 70.500, licenses, fees or special
77 assessments other than payments in lieu of taxes and any penalty and interest thereon, or ,
78 ef fective January 1, 1998, taxes levied pursuant to section 94.660, for the purpose of public
79 transportation, shall be allocated to, and paid by the local political subdivision collecting
80 of ficer to the treasurer or other designated financial of ficer of the municipality , who shall
81 deposit such funds in a separate segregated account within the special allocation fund. Any
82 provision of an agreement, contract or covenant entered into prior to July 12, 1990, between a
83 municipality and any other political subdivision which provides for an appropriation of other
84 municipal revenues to the special allocation fund shall be and remain enforceable.
85 3. In addition to the payments in lieu of taxes described in subdivision (2) of
86 subsection 1 of this section, for redevelopment plans and projects adopted or redevelopment
87 projects approved by ordinance after August 31, 1991, fifty percent of the total additional
88 revenue from taxes, penalties and interest which are imposed by the municipality or other
89 taxing districts, and which are generated by economic activities within the area of the
90 redevelopment project over the amount of such taxes generated by economic activities within
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91 the area of the redevelopment project in the calendar year prior to the adoption of the
92 redevelopment project by ordinance, while tax increment financing remains in ef fect, but
93 excluding personal property taxes, taxes imposed on sales or char ges for sleeping rooms paid
94 by transient guests of hotels and motels, taxes levied pursuant to section 70.500, taxes levied
95 for the purpose of public transportation pursuant to section 94.660, taxes imposed on sales
96 pursuant to subsection 2 of section 67.1712 for the purpose of operating and maintaining a
97 metropolitan park and recreation district, licenses, fees or special assessments other than
98 payments in lieu of taxes and penalties and interest thereon, any sales tax imposed by a
99 county with a charter form of government and with more than six hundred thousand but fewer
100 than seven hundred thousand inhabitants, for the purpose of sports stadium improvement or
101 levied by such county under section 238.410 for the purpose of the county transit authority
102 operating transportation facilities, or for redevelopment plans and projects adopted or
103 redevelopment projects approved by ordinance after August 28, 2013, taxes imposed on sales
104 under and pursuant to section 67.700 or 650.399 for the purpose of emergenc y
1 0 5 communication systems, shall be allocated to, and paid by the local political subdivision
106 collecting of ficer to the treasurer or other designated financial of ficer of the municipality , who
107 shall deposit such funds in a separate segregated account within the special allocation fund.
108 Beginning August 28, 2014, if the voters in a taxing district vote to approve an increase in
109 such taxing district's sales tax or use tax, other than the renewal of an expiring sales or use
110 tax, any additional revenues generated within an existing redevelopment project area that are
111 directly attributable to the newly voter- approved incremental increase in such taxing district's
112 levy rate shall not be considered economic activity taxes subject to deposit into a special
113 allocation fund without the consent of such taxing district.
114 4. Beginning January 1, 1998, for redevelopment plans and projects adopted or
115 redevelopment projects approved by ordinance and which have complied with subsections 4
116 to 12 of this section, in addition to the payments in lieu of taxes and economic activity taxes
117 described in subsections 1, 2 and 3 of this section, up to fifty percent of the new state
118 revenues, as defined in subsection 8 of this section, estimated for the businesses within the
119 project area and identified by the municipality in the application required by subsection 10 of
120 this section, over and above the amount of such taxes reported by businesses within the
121 project area as identified by the municipality in their application prior to the approval of the
122 redevelopment project by ordinance, while tax increment financing remains in ef fect, may be
123 available for appropriation by the general assembly as provided in subsection 10 of this
124 section to the department of economic development supplemental tax increment financing
125 fund, from the general revenue fund, for distribution to the treasurer or other designated
126 financial officer of the municipality with approved plans or projects.
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127 5. The treasurer or other designated financial of ficer of the municipality with
128 approved plans or projects shall deposit such funds in a separate segregated account within
129 the special allocation fund established pursuant to section 99.805.
130 6. No transfer from the general revenue fund to the Missouri supplemental tax
131 increment financing fund shall be made unless an appropriation is made from the general
132 revenue fund for that purpose. No municipality shall commit any state revenues prior to an
133 appropriation being made for that project. For all redevelopment plans or projects adopted or
134 approved after December 23, 1997, appropriations from the new state revenues shall not be
135 distributed from the Missouri supplemental tax increment financing fund into the special
136 allocation fund unless the municipality's redevelopment plan ensures that one hundred
137 percent of payments in lieu of taxes and fifty percent of economic activity taxes generated by
138 the project shall be used for eligible redevelopment project costs while tax increment
139 financing remains in effect. This account shall be separate from the account into which
140 payments in lieu of taxes are deposited, and separate from the account into which economic
141 activity taxes are deposited.
142 7. In order for the redevelopment plan or project to be eligible to receive the revenue
143 described in subsection 4 of this section, the municipality shall comply with the requirements
144 of subsection 10 of this section prior to the time the project or plan is adopted or approved by
145 ordinance. The director of the department of economic development and the commissioner of
146 the of fice of administration may waive the requirement that the municipality's application be
147 submitted prior to the redevelopment plan's or project's adoption or the redevelopment plan's
148 or project's approval by ordinance.
149 8. For purposes of this section, "new state revenues" means:
150 (1) The incremental increase in the general revenue portion of state sales tax revenues
151 received pursuant to section 144.020, excluding sales taxes that are constitutionally dedicated,
152 taxes deposited to the school district trust fund in accordance with section 144.701, sales and
153 use taxes on motor vehicles, trailers, boats and outboard motors and future sales taxes
154 earmarked by law . In no event shall the incremental increase include any amounts
155 attributable to retail sales unless the municipality or authority has proven to the Missouri
156 development finance board and the department of economic development and such entities
157 have made a finding that the sales tax increment attributable to retail sales is from new
158 sources which did not exist in the state during the baseline year . The incremental increase in
159 the general revenue portion of state sales tax revenues for an existing or relocated facility
160 shall be the amount that current state sales tax revenue exceeds the state sales tax revenue in
161 the base year as stated in the redevelopment plan as provided in subsection 10 of this section;
162 or
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163 (2) The state income tax withheld on behalf of new employees by the employer
164 pursuant to section 143.221 at the business located within the project as identified by the
165 municipality . The state income tax withholding allowed by this section shall be the
166 municipality's estimate of the amount of state income tax withheld by the employer within the
167 redevelopment area for new employees who fill new jobs directly created by the tax
168 increment financing project.
169 9. Subsection 4 of this section shall apply only to the following:
170 (1) Blighted areas located in enterprise zones, pursuant to sections 135.200 to
171 135.256, blighted areas located in federal empowerment zones, or to blighted areas located in
172 central business districts or urban core areas of cities which districts or urban core areas at the
173 time of approval of the project by ordinance, provided that the enterprise zones, federal
174 empowerment zones or blighted areas contained one or more buildings at least fifty years old;
175 and
176 (a) Suf fered from generally declining population or property taxes over the twenty-
177 year period immediately preceding the area's designation as a project area by ordinance; or
178 (b) W as a historic hotel located in a county of the first classification without a charter
179 form of government with a population according to the most recent federal decennial census
180 in excess of one hundred fifty thousand and containing a portion of a city with a population
181 according to the most recent federal decennial census in excess of three hundred fifty
182 thousand;
183 (2) Blighted areas consisting solely of the site of a former automobile manufacturing
184 plant located in any county with a charter form of government and with more than nine
185 hundred fifty thousand inhabitants. For the purposes of this section, "former automobile
186 manufacturing plant" means a redevelopment area containing a minimum of one hundred
187 acres, and such redevelopment area was previously used primarily for the manufacture of
188 automobiles but ceased such manufacturing after the 2007 calendar year; or
189 (3) Blighted areas consisting solely of the site of a former insurance company
190 national service center containing a minimum of one hundred acres located in any county
191 with a charter form of government and with more than nine hundred fifty thousand
192 inhabitants.
193 10. The initial appropriation of up to fifty percent of the new state revenues
194 authorized pursuant to subsection 4 of this section shall not be made to or distributed by the
195 department of economic development to a municipality until all of the following conditions
196 have been satisfied:
197 (1) The director of the department of economic development or his or her designee
198 and the commissioner of the of fice of administration or his or her designee have approved a
199 tax increment financing application made by the municipality for the appropriation of the new
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200 state revenues. The municipality shall include in the application the following items in
201 addition to the items in section 99.810:
202 (a) The tax increment financing district or redevelopment area, including the
203 businesses identified within the redevelopment area;
204 (b) The base year of state sales tax revenues or the base year of state income tax
205 withheld on behalf of existing employees, reported by existing businesses within the project
206 area prior to approval of the redevelopment project;
207 (c) The estimate of the incremental increase in the general revenue portion of state
208 sales tax revenue or the estimate for the state income tax withheld by the employer on behalf
209 of new employees expected to fill new jobs created within the redevelopment area after
210 redevelopment;
211 (d) The of ficial statement of any bond issue pursuant to this subsection after
212 December 23, 1997;
213 (e) An affidavi t that is signed by the developer or developers attesting that the
214 provisions of subdivision (1) of subsection 1 of section 99.810 have been met and specifying
215 that the redevelopment area would not be reasonably anticipated to be developed without the
216 appropriation of the new state revenues;
217 (f) The cost-benefit analysis required by section 99.810 includes a study of the fiscal
218 impact on the state of Missouri;
219 (g) The statement of election between the use of the incremental increase of the
220 general revenue portion of the state sales tax revenues or the state income tax withheld by
221 employers on behalf of new employees who fill new jobs created in the redevelopment area;
222 (h) The name, street and mailing address, and phone number of the mayor or chief
223 executive of ficer of the municipality;
224 (i) The street address of the development site;
225 (j) The three-digit North American Industry Classification System number or
226 numbers characterizing the development project;
227 (k) The estimated development project costs;
228 (l) The anticipated sources of funds to pay such development project costs;
229 (m) Evidence of the commitments to finance such development project costs;
230 (n) The anticipated type and term of the sources of funds to pay such development
231 project costs;
232 (o) The anticipated type and terms of the obligations to be issued;
233 (p) The most recent equalized assessed valuation of the property within the
234 development project area;
235 (q) An estimate as to the equalized assessed valuation after the development project
236 area is developed in accordance with a development plan;
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237 (r) The general land uses to apply in the development area;
238 (s) The total number of individuals employed in the development area, broken down
239 by full-time, part-time, and temporary positions;
240 (t) The total number of full-time equivalent positions in the development area;
241 (u) The current gross wages, state income tax withholdings, and federal income tax
242 withholdings for individuals employed in the development area;
243 (v) The total number of individuals employed in this state by the corporate parent of
244 any business benefitting from public expenditures in the development area, and all
245 subsidiaries thereof, as of December thirty-first of the prior fiscal year , broken down by full-
246 time, part-time, and temporary positions;
247 (w) The number of new jobs to be created by any business benefitting from public
248 expenditures in the development area, broken down by full-time, part-time, and temporary
249 positions;
250 (x) The average hourly wage to be paid to all current and new employees at the
251 project site, broken down by full-time, part-time, and temporary positions;
252 (y) For project sites located in a metropolitan statistical area, as defined by the federal
253 Of fice of Management and Budget, the average hourly wage paid to nonmanagerial
254 employees in this state for the industries involved at the project, as established by the United
255 States Bureau of Labor Statistics;
256 (z) For project sites located outside of metropolitan statistical areas, the average
257 weekly wage paid to nonmanagerial employees in the county for industries involved at the
258 project, as established by the United States Department of Commerce;
259 (aa) A list of other community and economic benefits to result from the project;
260 (bb) A list of all development subsidies that any business benefitting from public
261 expenditures in the development area has previously received for the project, and the name of
262 any other granting body from which such subsidies are sought;
263 (cc) A list of all other public investments made or to be made by this state or units of
264 local government to support infrastructure or other needs generated by the project for which
265 the funding pursuant to this section is being sought;
266 (dd) A statement as to whether the development project may reduce employment at
267 any other site, within or without the state, resulting from automation, mer ger , acquisition,
268 corporate restructuring, relocation, or other business activity;
269 (ee) A statement as to whether or not the project involves the relocation of work from
270 another address and if so, the number of jobs to be relocated and the address from which they
271 are to be relocated;
272 (f f) A list of competing businesses in the county containing the development area and
273 in each contiguous county;
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274 (gg) A market study for the development area;
275 (hh) A certification by the chief of ficer of the applicant as to the accuracy of the
276 development plan;
277 (2) The methodologies used in the application for determining the base year and
278 determining the estimate of the incremental increase in the general revenue portion of the
279 state sales tax revenues or the state income tax withheld by employers on behalf of new
280 employees who fill new jobs created in the redevelopment area shall be approved by the
281 director of the department of economic development or his or her designee and the
282 commissioner of the of fice of administration or his or her designee. Upon approval of the
283 application, the director of the department of economic development or his or her designee
284 and the commissioner of the office of administration or his or her designee shall issue a
285 certificate of approval. The department of economic development may request the
286 appropriation following application approval;
287 (3) The appropriation shall be either a portion of the estimate of the incremental
288 increase in the general revenue portion of state sales tax revenues in the redevelopment area
289 or a portion of the estimate of the state income tax withheld by the employer on behalf of new
290 employees who fill new jobs created in the redevelopment area as indicated in the
291 municipality's application, approved by the director of the department of economic
292 development or his or her designee and the commissioner of the of fice of administration
293 or his or her designee. At no time shall the annual amount of the new state revenues approved
294 for disbursements from the Missouri supplemental tax increment financing fund for
295 redevelopment projects approved prior to August 28, 2018, exceed thirty-two million dollars;
296 provided, however , that such thirty-two million dollar cap shall not apply to redevelopment
297 plans or projects initially listed by name in the applicable appropriations bill after August 28,
298 2015, which involve:
299 (a) A former automobile manufacturing plant;
300 (b) The retention of a federal employer employing over two thousand geospatial
301 intelligence jobs; or
302 (c) A health information technology employer employing over seven thousand
303 employees in the state of Missouri and which is estimated to create in excess of fifteen
304 thousand new jobs with an average annual wage of more than seventy-five thousand dollars.
305
306 At no time shall the annual amount of the new state revenues for disbursements from the
307 Missouri supplemental tax increment financing fund for redevelopment plans and projects
308 eligible under the provisions of paragraph (a) of this subdivision exceed four million dollars
309 in the aggregate. At no time shall the annual amount of the new state revenues for
310 disbursements from the Missouri supplemental tax increment financing fund for
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311 redevelopment plans and projects eligible under the provisions of paragraph (b) of this
312 subdivision exceed twelve million dollars in the aggregate. T o the extent a redevelopment
313 plan or project independently meets the eligibility criteria set forth in both paragraphs (a) and
314 (b) of this subdivision, then at no such time shall the annual amount of new state revenues for
315 disbursements from the Missouri supplemental tax increment financing fund for such eligible
316 redevelopment plan or project exceed twelve million dollars in the aggregate;
317 (4) At no time shall the annual amount of the new state revenues approved for
318 disbursements from the Missouri supplemental tax increment financing fund for
3 1 9 redevelopment plans or projects approved on or after August 28, 2018, and before August
320 28, 2028, be increased by or exceed ten million dollars. Any individual redevelopment plan
321 or project approved prior to August 28, 2018, which is expanded with buildings of new
322 construction shall not be increased by more than three million dollars annually in excess of
323 the original previously approved maximum annual projected amount. At no time shall the
324 annual amount of the new state revenues approved for disbursements from the Missouri
325 supplemental tax increment financing fund for redevelopment plans or projects approved on
326 or after August 28, 2028, exceed twenty million dollars; provided, however , that such ceilings
327 shall not apply to redevelopment plans or projects exempted from such ceilings under
328 subdivision (3) of this subsection. For all redevelopment plans or projects initially approved
329 on or after August 28, 2018, at no time shall a single redevelopment plan or project within
330 such redevelopment plan receive an appropriation under this section that exceeds three
331 million dollars annually;
332 (5) Redevelopment plans and projects receiving new state revenues shall have a
333 duration of up to fifteen years, unless prior approval for a longer term is given by the director
334 of the department of economic development or his or her designee and the commissioner of
335 the of fice of administration or his or her designee; except that, in no case shall the duration
336 exceed twenty-three years.
337 1 1. In addition to the areas authorized in subsection 9 of this section, the funding
338 authorized pursuant to subsection 4 of this section shall also be available in a federally
339 approved levee district, where construction of a levee begins after December 23, 1997, and
340 which is contained within a county of the first classification without a charter form of
341 government with a population between fifty thousand and one hundred thousand inhabitants
342 which contains all or part of a city with a population in excess of four hundred thousand or
343 more inhabitants.
344 12. There is hereby established within the state treasury a special fund to be known as
345 the "Missouri Supplemental T ax Increment Financing Fund", to be administered by the
346 department of economic development. The department shall annually distribute from the
347 Missouri supplemental tax increment financing fund the amount of the new state revenues as
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348 appropriated as provided in the provisions of subsection 4 of this section if and only if the
349 conditions of subsection 10 of this section are met. The fund shall also consist of any gifts,
350 contributions, grants or bequests received from federal, private or other sources. Moneys in
351 the Missouri supplemental tax increment financing fund shall be disbursed per project
352 pursuant to state appropriations.
353 13. Redevelopment project costs may include, at the prerogative of the state, the
354 portion of salaries and expenses of the department of economic development and the
355 department of revenue reasonably allocable to each redevelopment project approved for
356 disbursements from the Missouri supplemental tax increment financing fund for the ongoing
357 administrative functions associated with such redevelopment project. Such amounts shall be
358 recovered from new state revenues deposited into the Missouri supplemental tax increment
359 financing fund created under this section.
360 14. For redevelopment plans or projects approved by ordinance that result in net new
361 jobs from the relocation of a national headquarters from another state to the area of the
362 redevelopment project, the economic activity taxes and new state tax revenues shall not be
363 based on a calculation of the incremental increase in taxes as compared to the base year or
364 prior calendar year for such redevelopment project, rather the incremental increase shall be
365 the amount of total taxes generated from the net new jobs brought in by the national
366 headquarters from another state. In no event shall this subsection be construed to allow a
367 redevelopment project to receive an appropriation in excess of up to fifty percent of the new
368 state revenues.
369 15. Notwithstanding any other provision of the law to the contrary , the adoption of
370 any tax increment financing authorized under sections 99.800 to 99.865 shall not supersede,
371 alter , or reduce in any way a property tax levied under section 205.971.
372 16. (1) Beginning January 1, 2027, for red evelopment plans and projects
373 adopted or red evelopment pr ojects appr oved by ordinance and that have complied with
374 subsections 4 to 12 of this section, in addition to the payments in lieu of taxes and
375 economic activity taxes described in subsections 1, 2, and 3 of this section, up to fifty
376 per cent of the new state revenu es estimated for the businesses within the project ar ea
377 and identified by the municipality in the application requ ired by subsection 10 of this
378 section, over and above the amount of such taxes r eported by businesses within the
379 pr oject area as identified by the municipality in their application prior to the appr oval
380 of the red evelopment pr oject by ordinance, while tax incr ement financing rem ains in
381 effect, shall be allocated to and paid by the local political subdivision collecting officer to
382 the tr easurer or other designated financial officer of the municipality , who shall deposit
383 such funds in a separate segr egated account within the special allocation fund.
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384 (2) Notwithstanding any other pr ovision of law to the contrary , the funds
385 described in subdivision (1) of this subsection and used for r edevelopment plans and
386 pr ojects shall be distributed to any political subdivision including, but not limited to, a
387 neighborhood impr ovement district, ambulance district, fir e district, library district, or
388 school district, that levies a tax on each taxable lot, block, tract, or parce l of r eal
389 pr operty within such pr oject area and that would have received a distribution of such
390 r evenues had the tax incre ment allocation financing authorized under this section not
391 been adopted in such pr oject area.
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