HB 470 -- PROPERTY TAX

Under current law, the State Tax Commission is required to
promulgate regulations and publish values based on productive
capability for each of the several grades of agricultural and
horticultural land by December 31 of each even-numbered year.
This bill changes the requirement to each odd-numbered year.

If the regulations are approved by the General Assembly, they
will take effect on January 1 of the next odd-numbered year.

HB 470 -- PROPERTY TAX (Smith)

Under current law, the State Tax Commission is required to
promulgate regulations and publish values based on productive
capability for each of the several grades of agricultural and
horticultural land by December 31 of each even-numbered year.
This bill changes the requirement to each odd-numbered year.

If the regulations are approved by the General Assembly, they
will take effect on January 1 of the next odd-numbered year.

FISCAL NOTE:  No impact on state funds.

HB 470 -- PROPERTY TAX

SPONSOR:  Smith

COMMITTEE ACTION:  Voted "do pass by consent" by the Committee
on  Governmental Organization and Review by a vote of 8 to 0.

Under current law, the State Tax Commission is required to
promulgate regulations and publish values based on productive
capability for each of the several grades of agricultural and
horticultural land by December 31 of each even-numbered year.
This bill changes the requirement to each odd-numbered year.

If the regulations are approved by the General Assembly, they
will take effect on January 1 of the next odd-numbered year.

FISCAL NOTE:  No impact on state funds.

PROPONENTS:  Supporters say that this bill allows assessors time
to implement tax commission rules.  This is important in rural
counties that do not have computer systems.

Testifying for the bill were Representative Smith; the State Tax
Commission; and Missouri Assessors Association.

OPPONENTS:  There was no opposition voiced to the committee.

Steve Bauer, Research Analyst

HB 470 -- Property Tax

Sponsor:  Smith

Under current law, the State Tax Commission is required to
promulgate regulations and publish values based on productive
capability for each of the several grades of agricultural and
horticultural land by December 31 of each even-numbered year.
This bill changes the requirement to each odd-numbered year.

If the regulations are approved by the General Assembly, they
will take effect on January 1 of the next odd-numbered year.