HB 2043 -- Industrial Development

Co-Sponsors:  Cunningham, Portwood

This bill outlines the process which must be undertaken by a
municipality wishing to authorize an industrial development
project requiring the issuance of bonds or the conveyance of a
fee interest in property to a municipality.

Current law allows a municipality to approve a project for
industrial development by a majority vote of the municipality's
governing body.  The bill requires that a municipality approve
the project plan by ordinance.

The bill outlines the requirements for the project plan and the
responsibilities of the municipality when the proposed industrial
development project involves the issuance of bonds or the
conveyance of a fee interest in property to a municipality.  No
tax abatement or exemption will become effective unless a
majority of the affected taxing districts approve the tax
abatement or exemption.

Missouri House of Representatives
Last Updated October 11, 2002 at 9:03 am