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MO SB513
Bill
Status
Introduced
1/4/2012
Primary Sponsor
Jason Crowell
Click for details
AI Summary
- Repeals the application deadline of January 1, 2013 and replaces it with August 28, 2012 for new applications under sections 99.915 to 99.980
- Prohibits applications from being approved prior to August 28, 2003, except for disaster relief projects in counties where the governor requested federal assistance for natural disasters occurring between May 1-10, 2003
- Allows the Missouri Development Finance Board to approve up to two applications prior to December 31, 2006 in home rule cities with more than 400,000 inhabitants located in multiple counties
- Caps state sales tax increment at one-half of incremental increase in all sales taxes, with retail sales only qualifying if the board confirms new sources existed outside the state during the baseline year
- Defines incremental increase calculations for existing facilities, out-of-state business relocations, and Missouri facility relocations based on state sales tax revenue comparisons
Legislative Description
Prohibits the approval of new applications under the Missouri Downtown Economic Stimulus Act after August 28, 2012
Last Action
Second Read and Referred S Ways and Means and Fiscal Oversight Committee
1/5/2012
Committee Referrals
Ways And Means And Fiscal Oversight1/5/2012
Full Bill Text
No bill text available