HCS HB 1711 -- INDUSTRIAL DEVELOPMENT PROJECTS IN BOONE COUNTY

SPONSOR:  Johnson, 47 (Robb)

COMMITTEE ACTION:  Voted "do pass by consent" by the Committee on
Local Government by a vote of 15 to 0.

Currently, if a municipality undertakes an industrial development
project which was approved after August 28, 2003, the lessee may
reimburse the municipality for the actual costs of issuing the
bond and administering the plan.  Anything reimbursed in excess
of the actual costs must be disbursed to each school district,
junior college district, county, or city in proportion to its
current ad valorem tax levy.

This substitute specifies that for plans approved after
May 15, 2005, in Boone County, reimbursements in excess of the
actual costs must be disbursed to each affected taxing entity in
proportion to the current ad valorem tax levy of each affected
taxing entity, not just the entities in current law.

FISCAL NOTE:  No impact on state funds in FY 2007, FY 2008, and
FY 2009.

PROPONENTS:  Supporters say that Boone County would like to
distribute the excess reimbursements equally among all affected
taxing entities instead of just those currently listed in
statute.

Testifying for the bill were Representative Robb; and Keith
Schnarre.

OPPONENTS:  There was no opposition voiced to the committee.

Julie Jinkens McNitt, Legislative Analyst

Missouri House of Representatives
93rd General Assembly, 2nd Regular Session
Last Updated November 29, 2006 at 9:44 am