HB 2107 -- Municipal Technology Business Facility Projects

Sponsor:  Flook

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

Transactions involving the lease or rental of any project
component are exempt from local sales taxes, and 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, 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, 2nd Regular Session
Last Updated September 14, 2010 at 3:13 pm