SB 1175 Modifies various provisions of law relating to the Missouri Housing Development Commission
Sponsor: Goodman
LR Number: 5270L.02C Fiscal Note: 5270-02
Committee: Financial & Governmental Organizations and Elections
Last Action: 5/16/2008 - H Calendar S Bills for Third Reading w/HCS Journal Page:
Title: HCS SB 1175 Calendar Position:
Effective Date: August 28, 2008
House Handler: Cox

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Current Bill Summary

HCS/SB 1175 - Under this act, all offices of the Missouri Housing Development Commission shall be in Cole County. In addition, all employees of the commission shall maintain employment in Cole County. This directive becomes effective July 1, 2009.

Under current law, the Missouri Housing Development Commission may not have outstanding bonds or notes in an amount exceeding $200 million. The current statutory framework exempts several types of bonds and notes from this limitation. This legislative proposal provides that the $200 million limitation shall not apply to any conduit revenue bonds or notes of the commission in which the payment of debt service is the responsibility of an approved mortgagor.