MO SB315

Repeals and reenacts section 137.720, RSMo, relating to the collection and deposit of property taxes into county assessment funds

Removes the December 31, 2015 expiration date for subsections 2, 3, and 5, making permanent the requirements for additional property tax deductions to fund county assessments

Maintains tiered deduction rates based on county classification: counties of first and second classification deduct 0.5%, and counties of third and fourth classification deduct 1% of ad valorem property tax collections

Establishes annual caps on additional deductions ranging from $75,000 to $125,000 depending on county classification, effective July 1, 2009

Requires disallowance of property tax collections deposited into assessment funds if the state tax commission withholds reimbursement funds for three consecutive quarters due to noncompliance with assessment maintenance plans