MO SB357

Defines "hydroelectric power generating equipment" as very-low-head turbine generators with nameplate capacity of 400-600 kilowatts and related machinery used in production, generation, conversion, or storage of hydroelectric power.

Classifies hydroelectric power generating equipment as tangible personal property subject to property taxation rather than real property.

Establishes hydroelectric power generating equipment as a separate subclass (subclass 7) of tangible personal property for assessment purposes.

Assesses hydroelectric power generating equipment at one percent of its true value in money, the lowest assessment rate among tangible personal property subclasses.

Repeals and replaces existing sections 137.010, 137.080, and 137.115 to incorporate the new hydroelectric equipment classification into Missouri's property tax assessment framework.