NOTICE TO ALL MEDC MEMBERS:Our MEDCode bill, HB 741, will be heard on Wednesday morning, March 7, at 8:00 a.m. in the House Special Committee on Job Creation and Economic Development in House Hearing Room 7 in the basement of the Capitol. We are extremely grateful to our sponsor, Rep. David Pearce (R-121, Warrensburg, pictured at left) for filing this bill on our behalf.
This bill allows local economic developers to continue establishing voluntary agreements between taxing districts and developers to use a portion of the new tax revenue generated by a project to help finance the public infrastructure necessary for the project. Under the bill, all amounts donated to the project are voluntary - a taxing district may donate all, a portion of, or none of the new tax revenue to the project; the projects must be for public projects (streets, sidewalks, public infrastructure, etc.); and no eminent domain may be used for the project.
