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MO HB1244
Bill
Status
1/10/2012
Primary Sponsor
Jeanie Lauer
Click for details
AI Summary
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Creates a new section 67.2055 in Missouri law to authorize municipalities to develop technology business facility projects for economic development purposes
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Defines "technology business facility" as facilities engaged in wired telecommunications carriers, data processing/hosting services, or internet publishing and web search portals
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Allows municipalities to purchase, construct, lease, or mortgage facility components to private entities and receive grants and private donations for these projects
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Exempts leases and rentals of project components from local sales taxes and exempts leasehold interests from property taxes
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Requires payments in lieu of taxes from lessees to be distributed to affected taxing entities after reimbursing the municipality for administrative costs
Legislative Description
Allows a governmental entity to engage in projects involving a technology business facility used for specified purposes
Last Action
Voted Do Pass (H)
1/31/2012