SECOND REGULAR SESSION

HOUSE BILL NO. 1340

88TH GENERAL ASSEMBLY

INTRODUCED BY REPRESENTATIVES BROWN (Sponsor), OSTMANN, GROSS, KISSELL,

BENNETT AND CHRISMER.

Read 1st time January 29, 1996 and 1000 copies ordered printed.

DOUGLAS W. BURNETT, Chief Clerk

L2972.01I

AN ACT

To repeal section 137.100, RSMo 1994, relating to property taxation, and to enact in lieu thereof one new section relating to the same subject, with an effective date.

Be it enacted by the General Assembly of the state of Missouri, as follows:

Section A. Section 137.100, RSMo 1994, is repealed and one new section enacted in lieu thereof, to be known as section 137.100, to read as follows:

137.100. 1. The following subjects are exempt from taxation for state, county or local purposes:

(1) Lands and other property belonging to this state, except for any property described in subsection 2 of this section;

(2) Lands and other property belonging to any city, county or other political subdivision in this state, including market houses, town halls and other public structures, with their furniture and equipments, and on public squares and lots kept open for health, use or ornament;

(3) Nonprofit cemeteries;

(4) The real estate and tangible personal property which is used exclusively for agricultural or horticultural societies organized in this state;

(5) All property, real and personal, actually and regularly used exclusively for religious worship, for schools and colleges, or for purposes purely charitable and not held for private or corporate profit, except that the exemption herein granted does not include real property not actually used or occupied for the purpose of the organization but held or used as investment even though the income or rentals received therefrom is used wholly for religious, educational or charitable purposes;

(6) Household goods, furniture, wearing apparel and articles of personal use and adornment, as defined by the state tax commission, owned and used by a person in his home or dwelling place.

2. Any real property of any state university or college, when such property contains a research facility and such property is within a county of the first classification with a charter form of government with a population of at least two hundred thousand but not more than two hundred fifty thousand and adjoins another county of the first classification with a charter form of government with a population of at least nine hundred thousand inhabitants, shall have any parcel or portion of such property, if described below, fully assessed and taxed as follows:

(1) If used for recreational purposes for which a fee is charged to participate or observe such recreation, the property shall be taxed at one hundred percent of the tax rate; or

(2) If used for the purposes of commerce or business, the property may be taxed at up to eighty-five percent of the tax rate.

Section B. Section A of this act shall become effective on January 1, 1997.