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MO SB379
Bill
AI Summary
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Amends Section 66.620 RSMo to modify the distribution formula for county sales taxes in St. Louis County beginning January 1, 2016
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Guarantees that no city, town, or village in Group B (municipalities without a pre-existing city sales tax) receives less than 50% of the sales tax revenue actually generated within its boundaries
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Requires the Director of Revenue to identify municipalities that would receive less than 50% of locally-generated taxes under the standard formula, calculate the shortfall, and distribute additional funds to bring them to the 50% minimum
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Adjusts distributions to unincorporated county areas and other Group B municipalities after accounting for the 50% minimum guarantee payments
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Applies the 50% floor calculation to municipalities that straddle Group A and Group B by considering all county sales taxes generated within their boundaries regardless of which group the sales occur in
Legislative Description
Requires that municipalities in the St. Louis County sales tax pool receive at least 50% of the revenue generated inside a given municipality
Last Action
Hearing Conducted S Jobs, Economic Development and Local Government Committee
3/18/2015