SB 788 Requires that municipalities in the St. Louis County sales tax pool receive at least 50% of the revenue generated inside a given municipality
Sponsor: Schatz
LR Number: 4741S.12P Fiscal Notes
Committee: Jobs, Economic Development and Local Government
Last Action: 5/13/2016 - Formal Calendar S Bills for Third Reading--SS for SCS for SB 788-Schatz (In Fiscal Oversight) Journal Page:
Title: SS SCS SB 788 Calendar Position: 3
Effective Date: August 28, 2016

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Current Bill Summary

SS/SCS/SB 788 - Currently, the revenues from a 1% sales tax in St. Louis County are distributed to unincorporated areas of the county as well as municipalities based on a formula. What are commonly called "Group B" entities pool their revenue from the tax. After a diversion to account for incorporation of previously unincorporated areas, revenues are generally split amongst the municipalities and unincorporated areas of the county in Group B by population, regardless of where the tax was collected.

This act requires that beginning January 1, 2017, municipalities and the unincorporated areas of the county in Group B receive at least 50% of the tax revenue generated in such municipality or unincorporated area of the county. However, such new formula shall not apply in any year where the total amount of sales taxes collected in the county is less than the amount collected in calendar year 2014 and any adjustment to provide a Group B entity with 50% of the tax revenue generated in that area shall not result in another Group B entity receiving less revenue than it received in 2014.

This act is similar to SB 379 (2015), HCS/HB 812 (2015), HCS/HB 1067 (2015) and provisions in CCS/HCS/SB 221 (2015).