A proposed constitutional amendment making its way through the Missouri legislature would require local lawmakers to seek voter approval before establishing Tax Increment Financing (TIF).
Developers tend to like TIFs, as the arrangement allows them to build projects that can eventually pay for themselves, with the additional revenue generated by the special taxing district created for each TIF.
But the process has been abused in some areas of the state, at the expense of the people. And as various TIF developments at the Lake of the Ozarks have revealed, not every project pans out the way the developer hopes.
The proposed amendment was put forward by Rep. Keith Ellington, a Democrat in the Kansas City area. It is House Joint Resolution 20, and made its way through the House Local Government Committee unanimously.
Passage of HJR 20 would put the issue on the Missouri ballot, for state voters to approve or reject.
