FIRST REGULAR SESSION
93RD GENERAL ASSEMBLY
INTRODUCED BY REPRESENTATIVE HOBBS.
Read 1st time March 31, 2005 and copies ordered printed.
STEPHEN S. DAVIS, Chief Clerk
AN ACT
To amend chapter 260, RSMo, by adding thereto three new sections relating to electronic devices, with penalty provisions.
Be it enacted by the General Assembly of the state of Missouri, as follows:
Section A. Chapter 260, RSMo, is amended by adding thereto three new sections, to be known as sections 260.970, 260.973, and 260.976, to read as follows:
260.970. As used in sections 260.970 to 260.976, the following words and terms mean:
(1) "Credit instrument", any type of borrowing obligation issued under section 260.976, including any bonds, commercial line of credit note, tax anticipation note, or similar instrument;
(2) "Department", the Missouri department of revenue;
(3) "Electronic device", a cathode ray tube, cathode ray tube device, flat panel screen, or any other similar video display device with a screen size that is greater than four inches in size measured diagonally, videocassette players, videocassette recorder decks, camcorders, laserdisc players, rack audio systems, compact audio systems, compact disc players, portable compact disc players, portable headset audio, home radios, telephones, telephone answering machines, fax machines, personal word processors, personal computers, computer printers, computer monitors, and modems, including fax modems, but such term shall not include any motor vehicle or large piece of commercial or industrial equipment, including but not limited to commercial medical equipment, which contains a cathode ray tube, cathode ray tube device, flat panel screen, or other similar video display device that is contained within and is not separate from the large piece of commercial or industrial equipment;
(4) "Seller", as defined in section 144.010, RSMo.
260.973. 1. A person commits the crime of improper disposal of an electronic device if he knowingly places an electronic device in a solid waste disposal area or otherwise disposes of an electronic device in a nonpermit location.
2. Each improper disposal of an electronic device shall constitute a separate violation.
3. Improper disposal of an electronic device is a class C misdemeanor.
260.976. 1. Electronic devices shall be delivered to a recycling or resource recovery facility permitted by this or another state or to the agent of an electronic device wholesaler or manufacturer for delivery to a permitted solid waste disposal area. Any person purchasing a new electronic device may present to the seller of such device the used electronic device or parts of such device which the new electronic device is intended to replace.
2. A fee for each new electronic device sold at retail in this state shall be imposed on the seller. The fee shall be charged by the seller to the purchaser of a new electronic device for use and not for resale to an ultimate purchaser subject to the fee.
3. The fee imposed under subsection 2 of this section shall be imposed at the rate of eight dollars for each new personal computer sold. A fee of five dollars shall be required for each cellular phone and for each new electronic device which is not a personal computer. Such fee shall be added to the total cost to the purchaser at retail after all applicable sales taxes on the new electronic device have been computed. The fee imposed, less six percent of fees collected to be retained by the seller, shall be paid to the department in the form and manner required by the department, including the total number of new personal computers and new electronic devices which are not personal computers sold during the preceding month. The department shall promulgate rules and regulations necessary to administer fee collection and enforcement. Any rule or portion of a rule, as that term is defined in section 536.010, RSMo, that is created under the authority delegated in this section shall become effective only if it complies with and is subject to all of the provisions of chapter 536, RSMo, and, if applicable, section 536.028, RSMo. This section and chapter 536, RSMo, are nonseverable and if any of the powers vested with the general assembly pursuant to chapter 536, RSMo, to review, to delay the effective date, or to disapprove and annul a rule are subsequently held unconstitutional, then the grant of rulemaking authority and any rule proposed or adopted after August 28, 2005, shall be invalid and void.
4. The department shall administer, collect, and enforce the fee authorized under this section and pursuant to the same procedures used in the administration, collection, and enforcement of the general sales tax and use tax imposed under chapter 144, RSMo, except as provided in sections 260.970 to 260.976. The proceeds of the new electronic device fees, less four percent of such fees collected to be retained by the department as collection costs, shall be transferred by the department into an appropriate subaccount of the solid waste management fund created under section 260.330.
5. There is hereby created for the purposes of implementing the provisions of this section a body corporate and politic to be known as the "Board of Environmental Quality". The powers of the board shall be vested in five board members who shall be the governor, lieutenant governor, attorney general, director of the department of natural resources, and the commissioner of administration or his or her designee. The board shall have all powers necessary to effectuate its purposes including, without limitation, the power to provide a seal, keep records of its proceedings, and provide for professional services. The governor shall serve as chair, the lieutenant governor shall serve as vice chair, and the commissioner of administration shall serve as secretary. Staff support for the board shall be provided by the commissioner of administration.
(1) Notwithstanding the provisions of any other law to the contrary:
(a) No officer or employee of this state shall be deemed to have forfeited or shall forfeit his or her office or employment by reason of his or her acceptance of an appointment as a board member or for his or her service to the board;
(b) Board members shall receive no compensation for the performance of their duties under this subsection, but each commissioner shall be reimbursed from the funds of the commission for his or her actual and necessary expenses incurred in carrying out his or her official duties under this section.
(2) In the event that any of the board members or officers of the board whose signatures or facsimile signatures appear on any credit instrument shall cease to be board members or officers before the delivery of such credit instrument, their signatures or facsimile signatures shall be valid and sufficient for all purposes as if such board members or officers had remained in office until delivery of such credit instrument.
(3) Neither the board members executing the credit instruments of the board nor any other board members shall be subject to any personal liability or accountability by reason of the issuance of the credit instruments.
(4) The board is authorized, by offering for public negotiated sale, to issue, sell, and deliver credit instruments, bearing interest at a fixed or variable rate as shall be determined by the board, which shall mature no later than ten years after issuance, in the name of the board in an amount determined by the board not to exceed a total of four hundred fifty million dollars, less the principal amount of any financing agreement entered into under subdivision (15) of this subsection, for the purposes set forth in this section. Such credit instrument may only be issued upon the approval of a resolution authorizing such issuance by a simple majority of the members of the board, with no other proceedings required.
(5) The board shall provide for the payment of the principal of the credit instruments, any redemption premiums, the interest on the credit instruments, and the costs attributable to the credit instruments being issued or outstanding as provided in this section. Unless the board directs otherwise, the credit instrument shall be repaid in the same time frame and in the same amounts as would be required for loans issued pursuant to 42 U.S.C. Section 1321; however, in no case shall credit instruments be outstanding for more than ten years.
(6) The board may irrevocably pledge money legally available to it, provided that the general assembly has first appropriated moneys for the payment of credit instruments.
(7) Credit instruments issued under this section shall not constitute debts of this state or of the board or any agency, political corporation, or political subdivision of this state and are not a pledge of the faith and credit of this state, the board or of any of those governmental entities and shall not constitute an indebtedness within the meaning of any constitutional or statutory limitation upon the incurring of indebtedness. The credit instruments are payable only from revenue provided for under this chapter. The credit instruments shall contain a statement to the effect that:
(a) Neither the state nor the board nor any agency, political corporation, or political subdivision of the state shall be obligated to pay the principal or interest on the credit instruments except as provided by this section; and
(b) Neither the full faith and credit nor the taxing power of the state nor the board nor any agency, political corporation, or political subdivision of the state is pledged to the payment of the principal, premium, if any, or interest on the credit instruments.
(8) The board pledges and agrees with the owners of any credit instruments issued under this section that the state will not limit or alter the rights vested in the board to fulfill the terms of any agreements made with the owners or in any way impair the rights and remedies of the owners until the credit instruments are fully discharged.
(9) The board may prescribe the form, details, and incidents of the credit instruments and make such covenants that in its judgment are advisable or necessary to properly secure the payment thereof. If such credit instruments shall be authenticated by the bank or trust company acting as registrar for such by the manual signature of a duly authorized officer or employee thereof, the duly authorized officers of the board executing and attesting such credit instruments may all do so by facsimile signature provided such signatures have been duly filed as provided in the uniform facsimile signature of public officials law, sections 105.273 to 105.278, RSMo, when duly authorized by resolution of the board, and the provisions of section 108.175, RSMo, shall not apply to such credit instruments. The board may provide for the flow of funds and the establishment and maintenance of separate accounts within the special employment security fund, including the interest and sinking account, the reserve account, and other necessary accounts, and may make additional covenants with respect to the credit instruments in the documents authorizing the issuance of credit instruments including refunding credit instruments. The resolutions authorizing the issuance of credit instruments may also prohibit the further issuance of credit instruments or other obligations payable from appropriated moneys or may reserve the right to issue additional credit instruments to be payable from appropriated moneys on a parity with or subordinate to the lien and pledge in support of the credit instruments being issued and may contain other provisions and covenants as determined by the board, provided that any terms, provisions or covenants provided in any resolution of the board shall not be inconsistent with the provisions of this section.
(10) The board may issue credit instruments to refund all or any part of the outstanding credit instruments issued under this section including matured but unpaid interest. As with other credit instruments issued under this section, such refunding credit instruments may bear interest at a fixed or variable rate as determined by the board.
(11) The credit instruments issued by the board, any transaction relating to the credit instruments, and profits made from the sale of the credit instruments are free from taxation by the state or by any municipality, court, special district, or other political subdivision of the state.
(12) As determined necessary by the board the proceeds of the credit instruments less the cost of issuance shall be placed in the department of natural resources environmental quality fund to be administered by the department of natural resources and may be used for grants and loans to assist municipalities and other political subdivisions with the costs associated with the construction of waste water disinfection systems and with the infrastructure to address sewer overflow. The fund may also be sued for grants and loans to establish a program to assist farmer or agricultural businesses in addressing bacterial pollution resulting from livestock or other agriculturally related pollution of the water table.
(13) The board may enter into any contract or agreement deemed necessary or desirable to effectuate cost-effective financing hereunder. Such agreements may include credit enhancement, credit support, or interest rate agreements including, but not limited to, arrangements such as municipal bond insurance; surety bonds; tax anticipation notes; liquidity facilities; forward agreements; tender agreements;
remarketing agreements; option agreements; interest rate swap, exchange, cap, lock or floor agreements; letters of credit; and purchase agreements. Any fees or costs associated with such agreements shall be deemed administrative expenses. The board, with consideration of all other costs being equal, shall give preference to Missouri-headquartered financial institutions, or those out-of-state-based financial institutions with at least one hundred Missouri employees.
(14) To the extent this section conflicts with other laws the provisions of this section prevail. This section shall not be subject to the provisions of sections 23.250 to 23.298, RSMo.
(15) (a) As used in this subdivision the term "lender" means any state or national bank.
(b) The board is authorized to enter financial agreements with any lender for the purposes set forth in this section, or to refinance other financial agreements in whole or in part, upon the approval of the simple majority of the members of the board of a resolution authorizing such financial agreements, with no other proceedings required. The total amount of the outstanding obligation under all such agreements shall not exceed the difference of four hundred fifty million dollars and the principal amount of credit instruments issued under this subsection. In no instance shall the outstanding obligation under any financial agreement continue for more than ten years. Repayment of obligations to lenders shall be made from the fees imposed on new electronic devices subject to appropriation by the general assembly.
(c) Financial agreements entered into under this subdivision shall not constitute debts of this state or of the board or any agency, political corporation, or political subdivision of this state and are not a pledge of the faith and credit of this state, the board or of any of those governmental entities and shall not constitute an indebtedness within the meaning of any constitutional or statutory limitation upon the incurring of indebtedness. The financial agreements are payable only from revenue provided for under this chapter. The financial agreements shall contain a statement to the effect that:
a. Neither the state nor the board nor any agency, political corporation, or political subdivision of the state shall be obligated to pay the principal or interest on the financial agreements except as provided by this section; and
b. Neither the full faith and credit nor the taxing power of the state nor the board nor any agency, political corporation, or political subdivision of the state is pledged to the payment of the principal, premium, if any, or interest on the financial agreements.
(d) Neither the board members executing the financial agreements nor any other board members shall be subject to any personal liability or accountability by reason of the execution of such financial agreements.
(e) The board may prescribe the form, details and incidents of the financing agreements and make such covenants that in its judgment are advisable or necessary to properly secure the payment thereof provided that any terms, provisions or covenants provided in any such financing agreement shall not be inconsistent with the provisions of this section. If such financing agreements shall be authenticated by the bank or trust company acting as registrar for such by the manual signature of a duly authorized officer or employee thereof, the duly authorized officers of the board executing and attesting such financing agreements may all do so by facsimile signature provided such signatures have been duly filed as provided in the uniform facsimile signature of public officials law, sections 105.273 to 105.278, RSMo, when duly authorized by resolution of the board and the provisions of section 108.175, RSMo, shall not apply to such financing agreements.
(16) The commission may issue credit instruments to refund all or any part of the outstanding borrowing issued under this section including matured but unpaid interest.
(17) The credit instruments issued by the commission, any transaction relating to the credit instruments, and profits made from the issuance of credit are free from taxation by the state or by any municipality, court, special district, or other political subdivision of the state.