CCS/HCS/SB 111 - This act modifies various provisions regarding bonds issued by a political subdivision, qualifications for candidates of public office, limited liability companies who own property in certain cities, public administrators, and guardianships.
BONDS ISSUED BY A POLITICAL SUBDIVISION (108.170)
This act requires political subdivisions with an unenhanced bond rating of AA+ or higher to issue such debts through a competitive process unless such political subdivision employs the services of a municipal advisor, as defined in the act. Such political subdivisions may use a negotiated or competitive process. This requirement shall not apply when the bonds are sold to a government entity, when the principal amount of the bonds issued does not exceed $12,500,000, or to bonds issued for refinance.
Any person who is engaged as a municipal advisor by a political corporation or subdivision with respect to a particular issue of securities shall be independent, as defined in the act, of the underwriter of that issue of securities.
The State Treasurer shall make relevant information regarding debt issuance and bidding practices available to political subdivisions.
This provision is similar to a provision contained in HCS/SB 95 (2017), HCS/SCS/SB 112 (2017), HCS/SS/SB 124 (2017), HCS/SB 146 (2017), HB 545 (2017), HCS/HB 950 (2017), HB 2251 (2016), HB 204 (2015), and HCS/SB 148 (2015).
QUALIFICATIONS FOR CANDIDACY (115.306)
The act removes the provision prohibiting persons found guilty of a federal misdemeanor from running for elective public office.
ENHANCED ENTERPRISE ZONES (135.963)
Currently, property tax exemptions for property located in an enhanced enterprise zone may not be granted for a period longer than twenty-five years from the date on which the enhanced enterprise zone was created. This act removes the language that limits the exemption to the date on which the zone is created. This act also requires that no exemption be granted during the final ten years of an enhanced enterprise zone for a period longer than ten years.
This provision is identical to provisions contained in HCS/SB 302 (2017) and to SCS/SB 426 (2017).
LIMITED LIABILITY COMPANIES IN CERTAIN CITIES (347.048)
Currently, limited liability companies leasing real property to others or owning unoccupied real property in Kansas City are required to file an affidavit with the city clerk listing the manager of the property. This act requires the affidavit to name a natural person with control of the property and his or her street address. The act further applies to real property owned in the City of Independence.
If the person who manages the property changes, the LLC must file a new affidavit listing a successor manager within 30 days. No LLC may be charged a fee for filing a required affidavit. If an LLC required to file an affidavit fails to file an affidavit, any person adversely affected or the city may petition the court to direct the filing of an affidavit.
This provision is identical to SB 286 (2017) and substantially similar to HCS/HB 493 (2017), HCS/SCS/SB 112 (2017), HCS/SB 326 (2017), HCS/SB 332 (2017), SB 365 (2017), SB 693 (2016), HB 1708 (2016), SCS/SB 335 (2015), the perfected version of HCS/HB 864 (2015), and to a provision in HCS/HB 1154 (2015) and similar to HB 895 (2015).
PUBLIC ADMINISTRATORS (473.730, 473.743, 473.747)
This act provides that candidates for the office of public administrator must provide to the election authority a copy of a signed affidavit from one surety company indicating that the candidate meets the bonding requirements. The secretary of state shall notify the election authorities of this new requirement for such candidates.
After being elected to office, a public administrator shall enter into bond to the state in a sum not less than ten thousand dollars with one or more securities, rather than two or more securities.
These provisions are similar to provisions in SCS/HCS/HB 199 (2017), the truly agreed to and finally passed version of SB 112 (2017), HCS/SB 114 (2017), SCS/SB 698 (2016), and SB 495 (2015).
The act also modifies the duties of a public administrator. A public administrator can exercise his or her duties as specified in statute upon the appointment by the probate court. Additionally, a public administrator no longer has the duty to take charge of all minors in certain situations, minors under the age fourteen who have no legal guardian, or has charge and custody of the estate of a deceased person when moneys are delivered from the county coroner. The act repeals provisions stating that the public administrator is the ex officio public conservator and has charge of all estates of minors pursuant to court order.
These provisions are identical to provisions in HCS/HB 921 (2017) and HCS/SCS/SB 112 (2017) and similar to provisions contained in HCS/SB 114 (2017).
Finally, the act states that a guardian may execute a preneed contract for a ward's funeral services. If a next-of-kin does not exercise his or her right of sepulcher within ten days of the ward's death, then the guardian may consent for the disposition of the body.
These provisions are identical to HB 897 (2017) and to provisions in the truly agreed to and finally passed version of SB 112 (2017), and similar to provisions contained in HCS/SB 114 (2017).