HCS SB 504 -- SATELLITE ENTERPRISE ZONES

CO-SPONSORS:  Clemens, Champion (Wasson)

COMMITTEE ACTION:  Voted "do pass by consent" by the Committee on
Local Government by a vote of 11 to 0.

This substitute allows Springfield to designate a satellite
enterprise zone within its corporate limits.  The city must
submit a plan to the Department of Economic Development
describing how the zone corresponds to the city's overall
enterprise zone strategy.  The zone will not be designated until
the plan is submitted and approved by the department's director.

FISCAL NOTE:  Estimated Net Loss to General Revenue Fund of $0 in
FY 2004, $60,000 in FY 2005, and $60,000 in FY 2006.  The fiscal
impact could be divided between the General Revenue Fund and the
County Foreign Insurance Fund (which ultimately goes to local
school districts) if some of the tax credits are utilized against
insurance premium taxes.

PROPONENTS:  Supporters say that the bill will help distressed
communities and create jobs.

Testifying for the bill were Senator Cauthorn for Senator
Clemens; and City of Springfield.

OPPONENTS:  There was no opposition voiced to the committee.

Steve Bauer, Legislative Analyst

Missouri House of Representatives
Last Updated July 25, 2003 at 10:13 am