SB 235 -- LOCAL GOVERNMENT INDEBTEDNESS

SPONSOR:  Quick (Johnson, 47)

COMMITTEE ACTION:  Voted "do pass by consent" by the Committee on
Local Government by a vote of 17 to 0.

This bill requires that the calculation of the constitutional
limit for local government indebtedness include the additional
value added as a result of redevelopment projects in the area.
The county assessor is required to include the value when making
entries in the assessor's book.

FISCAL NOTE:  No impact on state funds.

PROPONENTS:  Supporters say that the value of a tax increment
finance project should be included in the value of property when
used by school districts to establish bonding limits.  The bill
will help schools increase the amount of bonds that they can sell
and the amount of revenue they can obtain.

Testifying for the bill were Senator Quick; Cooperating School
Districts of Suburban Kansas City and St. Louis; Missouri
Coalition of School Administrators; Missouri School Boards
Association; Missouri National Education Association; and
Missouri State Teachers Association.

OPPONENTS:  There was no opposition voiced to the committee.

Steve Bauer, Legislative Analyst

Missouri House of Representatives
Last Updated July 25, 2003 at 10:13 am