MO SB755

Repeals and reenacts section 238.235, RSMo, to modify transportation development district sales tax provisions.

Sales tax may be imposed on retail sales at increments of one-eighth of one percent up to a maximum of one percent, with exemptions for motor vehicles, trailers, boats, outboard motors, and public utilities.

Transportation development district must submit proposal to qualified voters or receive voter approval via petition before imposing or increasing sales tax; ballot must specify tax rate, duration, and transportation purpose.

Director of revenue collects and administers the tax; collected revenue is deposited into a "Transportation Development District Sales Tax Fund" and distributed monthly to appropriate districts, less one percent for collection costs.

Tax revenues designated for specific transportation purposes must be held in special trust funds and used solely for those designated purposes; funds continue to be used for designated purpose even after tax period expires or tax is repealed, unless repeal would impair district's ability to repay liabilities.