SB 908
Modifies provisions relating to certain special taxing districts
Sponsor:
LR Number:
3714S.04I
Committee:
Last Action:
1/5/2022 - S First Read
Journal Page:
S29
Title:
Calendar Position:
49
Effective Date:
August 28, 2022

Current Bill Summary

SB 908 - This act modifies provisions relating to certain special taxing districts.

NEIGHBORHOOD IMPROVEMENT DISTRICTS

Current law requires the governing body of a city or county to provide notice of a public hearing to consider the plans, specifications, and proposed assessment rolls for a neighborhood improvement district (NID), with such notice to be published in a newspaper of general circulation and mailed to each owner of real property subject to assessment within the boundaries of the NID. This act requires such notice to also be given to the Department of Revenue, which shall publish such information on its website. (Section 67.461)

This act also requires the governing body of a city or county establishing a NID to submit to the State Auditor and the Department of Revenue a description of the boundaries of the district, as well as information on assessments made in the district, as described in the act. The governing body establishing a NID shall not order any assessments on property within the district until such information is submitted. (Section 67.457)

COMMUNITY IMPROVEMENT DISTRICTS

Current law requires the governing body of a municipality to provide notice of a public hearing to establish or amend a community improvement district (CID), with such notice to be published in a newspaper of general circulation and mailed to each owner of real property within the boundaries of the CID. This act requires such notice to also be given to the Department of Revenue, which shall publish such information on its website.

This act also requires the governing body of a city or county establishing a CID to submit to the State Auditor and the Department of Revenue a description of the boundaries of the district, as well as the rates of property tax and sales tax in the district, as described in the act. The governing body establishing a CID shall not collect any taxes or assessments until such information is submitted. (Sections 67.1421 and 67.1431)

Current law also requires the governing board of a CID to provide a proposed annual budget to the governing body of the city, as well as submit a report including financial and other information to the municipal clerk and the Department of Economic Development. This act requires such information to also be sent to the Department of Revenue and the State Auditor. (Section 67.1471)

TAX INCREMENT FINANCING DISTRICTS

Current law requires a tax increment financing (TIF) commission to provide notice of a public hearing prior to the adoption of an ordinance proposing a redevelopment plan or project, with such notice to be published in a newspaper of general circulation and mailed to each owner of real property within the boundaries of the TIF district. This act requires such notice to also be given to the Department of Revenue, which shall publish such information on its website.

This act also requires the governing body of the municipality establishing a redevelopment area to submit to the State Auditor and the Department of Revenue a description of the boundaries of the redevelopment area, estimated redevelopment project costs, and the date on which the redevelopment area terminates, as described in the act. The governing body establishing a redevelopment area shall not deposit any payments in lieu of taxes into the special allocation fund until such information is submitted. (Sections 99.825 and 99.830)

Current law also requires the governing body of a municipality to provide notice of a public hearing to be held five years after the establishment of a redevelopment plan, with such notice to be published in a newspaper of general circulation. This act requires such notice to also be given to the Department of Revenue, which shall publish such information on its website. (Section 99.865)

TRANSPORTATION DEVELOPMENT DISTRICTS

Current law requires a circuit clerk to provide notice to the public that a petition has been filed for the creation of a transportation development district (TDD), with such notice to be published in a newspaper of general circulation. This act requires such notice to also be given to the Department of Revenue, which shall publish such information on its website. (Section 238.212)

This act also requires the governing body of a local transportation authority establishing a district to submit to the State Auditor and the Department of Revenue a description of the boundaries of the district, as well as the rates of property tax and sales tax in the district, as described in the act. The governing body establishing a TDD shall not collect any taxes until such information is submitted. (Section 238.222)

JOSH NORBERG

Amendments

No Amendments Found.