HB 1711 -- Industrial Development Projects in Boone County

Sponsor:  Robb

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 bill 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.

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