PATTONVILLE FIRE PROTECTION DISTRICT (“DISTRICT”) REIMBURSEMENT RATE – SENATE BILL 870 NOTIFICATION

Pursuant to Senate Bill 870 enacted into law by the 99th General Assembly of the Missouri Legislature and signed by the Governor, the District shall set an annual reimbursement rate for financing pursuant to Chapter 99 RSMo, Chapter 100 RSMo and Chapter 353 RSMo.  The reimbursement rate for the District beginning upon the approval of the District’s tax rate shall be 100%.  Beginning August 28, 2018 and thereafter, the District shall be entitled to reimbursement from the special allocation funds as defined in Chapter 99 RSMo in the amount of 100% of the District’s tax.  This applies to all tax increment financing (TIF) projects approved after August 28, 2004.  Moreover, the District shall be reimbursed an amount of 100% of the ad valorem real, personal and other tangible property tax revenues that the District would have received in the absence of a tax abatement under Chapter 100 RSMo and Chapter 353 RSMo.  These reimbursements are applicable to all tax increment financing, tax abatements and special allocation funds financing or amendments filed after August 28, 2018.

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