SECOND REGULAR SESSION

HOUSE BILL NO. 2192

91ST GENERAL ASSEMBLY

INTRODUCED BY REPRESENTATIVE HENDRICKSON.

Read 1st time March 14, 2002, and 1000 copies ordered printed.

TED WEDEL, Chief Clerk

4192L.01I

AN ACT

To amend chapter 137, RSMo, by adding thereto one new section relating to personal property taxes.



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

Section A. Chapter 137, RSMo, is amended by adding thereto one new section, to be known as section 137.011, to read as follows:

137.011. 1. For all tax years beginning on or after January 1, 2002, in lieu of any tax on tangible personal property, the state tax commission shall certify the assessed valuation of all tangible personal property for the calendar year 2002 for each county and each political subdivision therein to the director of revenue of the state of Missouri. The director of revenue shall apply the valuation so certified to the rate of personal property tax levied for the calendar year 2002 in each such political subdivision and shall certify the result of this calculation to the house and senate appropriations committees of the Missouri general assembly. The general assembly shall annually thereafter use the same 2002 results of the calculation by the director of revenue as the basis for the appropriation of money received pursuant to sections 196.1000 to 196.1003, RSMo, to the various political subdivisions for approximate reimbursement of revenue lost pursuant to this section.

2. This section shall be effective unless the moneys received pursuant to sections 196.1000 to 196.1003, RSMo, are no longer ssufficient to reimburse political subdivisions for any loss of revenue pursuant to this section.


Missouri House of Representatives