HS HCS HB 327 -- PROPERTY (Rizzo)

In its main provisions, the substitute:

(1)  Designates the City of Sugar Creek as an enterprise zone;

(2)  Allows any employee of a new business facility with the
NAICS Number 336991 to be considered a resident of an enterprise
zone, even if the employer no longer chooses to live in the
zone, as long as certain conditions are met;

(3)  Changes the definition of "new residence" as it relates to
tax credits for the rehabilitation and construction of
residences in distressed communities and census blocks.  It is
now termed a "new market rate residence" and the definition
includes the stipulation that a new residence is one which is or
will be owner-occupied and which is not replacing a national
register-listed or local historical structure;

(4)  Expands the definition of a "distressed community" to
include specific areas of the City of Kansas City and St. Louis
County;

(5)  Requires any individual wishing to put a lien on a motor
vehicle or trailer to submit proof of such a lien to the
Director of the Department of Revenue.  The individual is also
required to notify the owner of the vehicle or trailer of the
lien; and

(6)  Allows self-service storage facilities to impose reasonable
late fees for each month that an occupant does not pay rent when
it is due, as long as the late fee is specified in the rental
agreement.  A reasonable late fee is defined as the greater of
$20 or 20% of the monthly rental amount.  An operator who wishes
to establish a higher late fee has the burden of proof that the
higher late fee is reasonable.  The operator can recover all
reasonable rent collection and lien enforcement expenses from
the occupant.

Relating to the Petroleum Storage Tank Insurance Fund, the
substitute:

(1)  Extends the Petroleum Storage Tank Insurance Fund to
December 31, 2010.  Thereafter, the fund's board of trustees may
function only to complete payment of claims made prior to the
expiration date;

(2)  Allows the fund's board to adjust the surcharge on
petroleum loads after 60 days notice and an opportunity for
public comment.  The maximum surcharge is increased from $25 to
$60 per load.  If the fund's balance exceeds its liabilities by
10% on the first day of any month, the surcharge reverts to $25
per load 2 months later;

(3)  Allows the board, in consultation with the Department of
Natural Resources, to prioritize claims and expenditures from
the fund;

(4)  Allows tank owners and operators to continue participating
in the fund after transferring their property to another party;

(5)  Extends the deadline for participation in or application
for funds for the cleanup of contamination caused by petroleum
storage tanks from December 31, 1997, to August 28, 2000;

(6)  Allows any person who claims to have paid the surcharge in
error to file a claim for a refund with the board within 3 years
of the payment.  Any person aggrieved by the board's decision
may seek judicial review within 60 days following the board's
decision; and

(7)  States that the fund will clean up contamination caused by
a petroleum storage tank with a capacity of 10,000 gallons or
less when a retailer is the sole provider of retail fuels within
a 4-mile area.  The costs of the cleanup must be incurred
between April 1, 1999, and April 1, 2001, and the retailer must
make application for participation in the fund by March 15, 2001.

FISCAL NOTE:  Estimated Net Income to Petroleum Storage Tank
Insurance Fund of $6,100,980 in FY 2002, $10,975,980 in FY 2003,
and $1,370,546 in FY 2004.  Savings to Road Fund of $0 in FY
2002, $0 in FY 2003, and $95,000 in FY 2004.  Estimated Net Cost
to General Revenue Fund of $60,000 to $260,000 in FY 2002, FY
2003, and FY 2004.  Estimated Net Cost to Highway Fund of
$315,019 to Unknown in FY 2002, $240,902 to Unknown in FY 2003,
and $158,728 to Unknown in FY 2004.

Missouri House of Representatives
Last Updated November 26, 2001 at 11:43 am