HB 341 -- State Property Preservation Fund

Co-Sponsors:  Deeken, Smith (118)

This bill creates the State Property Preservation Fund, which is
to consist of moneys appropriated by the General Assembly.

Moneys in the fund are available for the payment of any property
loss for insured state-owned or leased buildings if a notice of
coverage is issued for the property and the state is obligated to
provide evidence of insurance.

The aggregate of payments from the fund are not to exceed the
lesser of the amounts necessary to repair or restore the covered
property to its condition before the covered loss or its fair
market value at the time of the loss.

The fund is to be deemed as satisfying all provisions contained
in any agreement requiring the state to purchase or maintain
property insurance on state-owned or leased buildings or their
contents.

Missouri House of Representatives
Last Updated July 25, 2003 at 10:11 am