HB 1930 -- PENALTIES AND INTEREST ON DELINQUENT TAXES

SPONSOR:  Hubbard

COMMITTEE ACTION:  Voted "do pass" by the Special Committee on
Urban Issues by a vote of 8 to 2.

This bill changes the minimum rate of interest that can be
charged on delinquent real property taxes from 1% to 2% per month
and the maximum rate from 10% to 18% per year.  The prime rate
limitation is also removed.

FISCAL NOTE:  No impact on General Revenue Fund in FY 2007,
FY 2008, and FY 2009.  Estimated Income on Other State Funds of
Unknown in FY 2007, FY 2008, and FY 2009.

PROPONENTS:  Supporters say that in 1999 St. Louis was limited to
a tax no greater than the prime rate.  The bill will bring the
City of St. Louis to the same tax level as all other cities.

Testifying for the bill were Representative Hubbard; and Office
of the Mayor of the City of St. Louis.

OPPONENTS:  There was no opposition voiced to the committee.

Robert Triplett, Legislative Analyst

Missouri House of Representatives
93rd General Assembly, 2nd Regular Session
Last Updated November 29, 2006 at 9:45 am