FIRST REGULAR SESSION
[TRULY AGREED TO AND FINALLY PASSED]
SENATE COMMITTEE SUBSTITUTE FOR
SENATE BILL NO. 352
91ST GENERAL ASSEMBLY
2001
0420S.05T
AN ACT
To amend chapter 94, RSMo, by adding thereto one new section relating to capital improvements.
Section A. Chapter 94, RSMo, is amended by adding thereto one new section, to be known as section 94.575, to read as follows:
94.575. The following words, as used in sections 94.575 to 94.577, shall mean:
(1) "Capital asset" or "fixed asset", assets of a long-term character that are intended to continue to be held or used, including but not limited to land, buildings, machinery, furniture, and other equipment, including computer hardware and software;
(2) "Capital improvements", any capital or fixed asset having an estimated economic useful life of at least two years.