HCS/SCS/SB 800 - This act modifies provisions relating to political subdivisions. POPULATION DESIGNATIONS IN STATUTES (Section 1.100)
Currently, any law that is limited to certain cities, counties or political subdivisions based on population at the time of enactment shall include any such entity that later acquires such population. This act provides that once such an entity comes under operation of such a law, a subsequent change in population shall not remove the city, county, or political subdivision from the operation of that law.
This provision is similar to SB 949 (2016).
SUPPLEMENTAL TAX CREDITS FOR CERTAIN REDEVELOPMENT PROPERTY (Section 99.845)
Currently the General Assembly may appropriate to the supplemental tax increment financing fund from the general revenue fund an amount to be distributed by the Department of Economic Development for approved redevelopment plans or projects. The appropriation is either a portion of the increased sales tax revenue in the area or a portion of the withheld income tax from the project.
The total cap on the amount that may be distributed is set at $32 million with an additional $4 million authorized for redevelopment of a former automobile manufacturing plant and an additional $12 million authorized to retain the National Geospatial-Intelligence Agency. Under this act, an additional $4 million is authorized for a redevelopment project formerly included in an airport noise mitigation program.
ESTABLISHING MUSEUM DISTRICTS (Section 184.815)
A petition to create a museum district may be filed no more than 5 years after the President declares the area a disaster area as defined in statute. This act would allow a petition to be filed up to 10 years after such declaration.
REDEVELOPMENT OF FORMER AUTOMOBILE MANUFACTURING PLANTS (Section 447.708)
This act provides that all demolition costs in St. Louis County associated with a former automobile manufacturing plant are an allowable cost for tax credits so long as the redevelopment will create at least 250 new jobs or retain at least 300 jobs.
MEET IN MISSOURI ACT (section 620.1620)
This act establishes the "Meet in Missouri Act". Eligible local convention commissions may submit major convention plans to the director of the Department of Economic Development. If the plans are approved by the director, then a grant shall be paid from the newly created "Major Economic Convention Event in Missouri Fund" to the commission. The commission shall hold such funds until the major convention event has occurred and a required report has been submitted to the Department.
A major convention plan shall be approved by the director until certain conditions, as described in the act, are met. These conditions require that the convention event will occur within five years from the application, that the commission is competing for the event against non-Missouri cities, and the economic benefit to the state exceeds the amount of the grant. The amount of any grant shall not exceed 50% of the cost of hosting the event or one million dollars, whichever is less.
At the conclusion of the event, the commission shall issue a report to the director detailing the final amount of convention costs incurred and actual attendance figures. If the final amount of convention costs is less than the amount of the grant, then the act sets forth the amounts that the commission must refund from the grant amount. If the actual attendance is lower than 85% of the projected attendance, the commission will be required to refund a portion of the grant. If the actual attendance is lower than 25% of the projected attendance, the commission will be required to refund the entire grant. A commission will not be required to refund a portion of the grant if low attendance is caused by man-made or other weather related disasters.
Any refunded amounts shall be returned to the fund and used for future grants. This act shall sunset 6 years after enactment unless reauthorized by an act of the General Assembly.
This provision is similar to SCS/HB 1698 (2016) & HB 1313 (2015).
DOMENIC SITA