HB 702 -- Municipal Technology Business Facility Projects

Sponsor:  Flook

This bill allows municipalities to engage in projects involving a
technology business facility which is a facility located in an
underground mine with at least 2 million square feet of space
used for data processing, hosting, Internet publishing and
broadcasting, or web search portals.  The governing body of any
county, city, incorporated town, or village is authorized to:

(1)  Carry out technology business facility projects for economic
development;

(2)  Accept grants from the federal and state governments for the
project's purposes and enter into agreements which may be
required by the grantor if the agreements are not contrary to
Missouri laws;

(3)  Receive any gifts and donations from private sources to be
used for the project's purposes; and

(4)  Enter into loan agreements, sell, lease, or mortgage to
individuals, partnerships, or corporations any component of a
technology business facility.

Transactions involving the lease or rental of any project
component are exempt from local sales taxes.  Leasehold interests
will not be subject to property taxes.

If an individual or corporation transfers property for a project
free of charge to the governing body of any municipality, it will
retain the right to have the governing body transfer the donated
property back at no cost.

Missouri House of Representatives
95th General Assembly, 1st Regular Session
Last Updated November 17, 2009 at 9:25 am