FIRST REGULAR SESSION
SENATE BILL NO. 348
90TH GENERAL ASSEMBLY
INTRODUCED BY SENATOR WIGGINS.
Read 1st time January 25, 1999, and 1,000 copies ordered printed.
TERRY L. SPIELER, Secretary.
S1468.01I
AN ACT
To repeal section 92.031, RSMo 1994, relating to debt service taxation in charter cities with a population of no less than three hundred thousand and no more than seven hundred thousand residents, and to enact in lieu thereof one new section relating to the same subject.
Section A. Section 92.031, RSMo 1994, is repealed and one new section enacted in lieu thereof, to be known as section 92.031, to read as follows:
92.031. 1. Such cities may in the alternative elect by ordinance to levy and impose an annual tax for debt service which tax levy shall be in addition to and independent of the tax levy for capital improvements and operating expenses for hospital, public health, recreation grounds and museum purposes provided for in subdivisions (2) and (3) of subsection 2 of section 92.030.
2. In the event such cities make such election, the tax levy rate for debt service referred to in subdivisions (2) and (3) of subsection 2 of section 92.030 shall be treated as zero for the purpose of calculating the additional tax levy rate authorized for capital improvements and operating expenses for hospital, public health, recreation grounds and museum purposes. Such authorized rate may be increased from its current rate to a rate not to exceed [fifty cents] one dollar per hundred dollars assessed valuation by submission to and approval by a vote of the people.