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MO HB1038
Bill
Status
1/4/2012
Primary Sponsor
Mike Leara
Click for details
AI Summary
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Amends Chapter 66, RSMo to add Section 66.602 regarding distribution of county sales taxes collected under Sections 66.600 to 66.630
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Beginning January 1, 2013, requires 10% of funds deposited with the county treasurer under Section 66.620 to be distributed to cities, towns, villages, and unincorporated areas based on the location where sales were consummated under state law
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Each subsequent year adds an additional 10% of funds to be distributed by sales location until the full transition is complete over 10 years
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All remaining funds during the transition period continue to be distributed according to existing provisions in Sections 66.620 and 66.630
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Upon full implementation, 100% of county sales tax revenue will be distributed based on the location in which sales were deemed consummated under state law rather than current distribution methods
Legislative Description
Phases out the current distribution method of the St. Louis County sales tax over 10 years until all the tax revenue is distributed based upon the location in which the sales were deemed consummated
Last Action
Public Hearing Held (S)
3/27/2012