Modifies categories of recipients that participate in tax increment financing

HB 574 modifies Missouri's tax increment financing (TIF) rules for redevelopment projects. It changes how property tax revenues from increased property values in redevelopment areas are allocated, specifically requiring taxing districts' consent before revenues from voter-approved levy rate increases (after August 2014) are deposited into the TIF "Special Allocation Fund." The bill also clarifies that increased property values above initial assessments won't count toward state school aid calculations until redevelopment costs are paid. This directly affects municipalities using TIF programs, property owners in redevelopment zones, and local taxing districts (like school districts) that collect property taxes. The changes aim to clarify revenue distribution between municipalities and taxing districts within redevelopment projects.