HCS HB 2373 -- TAX LEVY REVISIONS

SPONSOR:  Smith, 14 (Funderburk)

COMMITTEE ACTION:  Voted "do pass" by the Committee on Tax Reform
by a vote of 10 to 0.

This substitute allows any political subdivision that approved a
tax increase after August 27, 2008, to levy a rate to collect
substantially the same amount of tax revenue as would have been
collected by applying the voter-approved increased tax rate
ceiling to the total assessed valuation of the political
subdivision on or before the election date, increased by the
percentage increase in the federal Consumer Price Index; however,
the rate cannot exceed the greater of the most recent
voter-approved rate or the most recent voter-approved adjusted
rate.

Currently, certain political subdivisions that levy separate tax
rates on the different subclasses of property are required to
revise tax rates when there is a tax rate reduction after certain
tax revenue calculations.  The substitute allows the subdivisions
to revise the rates.  If voters approve separate stated tax rates
to be applied to the different subclasses of property or increase
the separate rates that may be levied on the different subclasses
of property by different amounts, the single tax rate calculation
must be a blended rate that is to be calculated in the manner
specified in law.

FISCAL NOTE:  No impact on state funds in FY 2011, FY 2012, and
FY 2013.

PROPONENTS:  Supporters say that the bill will allow a taxing
district to maintain the same base revenue level from the
previous year and add the full amount of the new voter-approved
rate when that rate is approved as a specific amount.  The bill
makes a technical correction to language passed in Senate Bill
711 in 2008.

Testifying for the bill were Representative Funderburk; and Fire
Chief Russell Mason, Central County Fire and Rescue.

OPPONENTS:  There was no opposition voiced to the committee.

Missouri House of Representatives
95th General Assembly, 2nd Regular Session
Last Updated September 14, 2010 at 3:13 pm