SB 464 - This act modifies the duties and powers of the Missouri Penitentiary Redevelopment Commission.
Currently, the commission has the power to lease or sell property to developers. This act would allow the commission to hold the proceeds from such transactions outside the state treasury.
This act would remove the commissions ability to receive rentals or proceeds from the sale of real estate for its lawful activities. However, the commission will continue to receive contributions and money from other sources and be able to apply for grants or other funding. Under this act, the commission will be able to deposit such funds into the Missouri State Penitentiary Redevelopment Fund.
Under the act, the commission is authorized to purchase insurance from the Missouri Public Risk Management Fund and is determined to be a "public entity", as defined by Section 537.700, RSMo.
The commission shall be a state commission for the purposes of Section 105.711, RSMo, which created the "State Legal Expense Fund". All members of the commission will be entitled to coverage under this fund.
This act is similar to certain provisions of CCS/SS/SCS/HCS/HB 58 (2005).