94.1010. Economic development sales tax, certain cities (Jefferson City)--economic development defined--ballot language--election procedure--collection procedure--rate of tax--local economic developme

MISSOURI STATUTES AND CODES

94.1010. Economic development sales tax, certain cities (Jefferson City)--economic development defined--ballot language--election procedure--collection procedure--rate of tax--local economic developme

Economic development sales tax, certain cities (JeffersonCity)--economic development defined--ballot language--electionprocedure--collection procedure--rate of tax--local economicdevelopment sales tax fund, created, limitation on use ofmoneys--tax terminates, when.

94.1010. 1. The governing body of any city which has a population of atleast thirty-five thousand and is located in a county with a population of atleast sixty-three thousand but not in excess of eighty thousand may impose, byordinance or order, an economic development sales tax on all retail saleswhich are subject to taxation pursuant to the provisions of sections 144.010to 144.525, RSMo, for the purpose of funding economic development. For thepurposes of this section, the term "economic development" shall mean thefunding of the construction and debt financing of a civic and conventioncenter, as determined by the city imposing the tax. The tax authorized bythis section shall be in addition to any and all other sales taxes allowed bylaw. The ordinance or order shall become effective after the governing bodyof the city shall submit to the voters of that city a proposal to authorizethe tax.

2. The ballot of submission shall contain, but need not be limited to,the following language:

Shall the city of .......... (name of city) impose a sales tax of.......... (insert rate) for the purpose of funding economic development inorder to construct a convention center? There is no guarantee of any statefunding.

â ã YES â ã NO If you are in favor of the question, place an "X" in the box opposite "YES".If you are opposed to the question, place an "X" in the box opposite "NO". If a majority of the votes cast on the proposal by the qualified votersvoting thereon are in favor of the proposal, then the ordinance or order shallbe in effect, beginning the first day of the second calendar quarter followingits adoption or a later date if authorized by the governing body. If thegoverning body has not authorized the initial collection of the tax pursuantto such ordinance or order within three years after the date of the passage ofthe proposal, authorization for the governing body to impose such tax shallexpire. If a majority of the votes cast by the qualified voters voting areopposed to the proposal, then the governing body of the city shall have nopower to impose the sales tax authorized in this section unless and until thegoverning body of the city shall again have submitted another such proposaland the proposal is approved by the requisite majority of the qualified votersvoting thereon. However, in no event shall a proposal pursuant to thissection be submitted to the voters sooner than twelve months from the date ofthe last proposal submitted pursuant to this section.

3. After the effective date of any tax imposed pursuant to theprovisions of this section, the director of revenue shall perform allfunctions incident to the administration, collection, enforcement, andoperation of the tax in the same manner as provided in sections 94.500 to94.550, and the director of revenue shall collect in addition to the sales taxfor the state of Missouri the additional tax authorized pursuant to theauthority of this section. The tax imposed pursuant to this section and thetax imposed pursuant to the sales tax law of the state of Missouri shall becollected together and reported upon such forms and pursuant to suchadministrative rules and regulations as may be prescribed by the director ofrevenue. Except as modified in this section, all provisions of sections32.085 and 32.087, RSMo, shall apply to the tax imposed pursuant to thissection.

4. The economic development sales tax may be approved at a rate ofone-eighth of one percent, one-fourth of one percent, three-eighths of onepercent, one-half of one percent, three-fourths of one percent or one percentof the receipts from the sale at retail of all tangible personal property andtaxable services at retail within any city adopting such tax, if such propertyand services are subject to taxation by the state of Missouri pursuant to theprovisions of sections 144.010 to 144.525, RSMo.

5. All revenue generated from the tax authorized pursuant to theprovisions of this section, less one percent for the cost of collection whichshall be deposited in the general revenue fund, shall be deposited into the"Local Economic Development Sales Tax Fund", which is hereby created in thestate treasury. The fund moneys shall be distributed to the city from whichthe revenue was generated for the sole purpose of funding economicdevelopment, as that term is defined in this section. The tax authorized bythis section is abolished or terminated when the original indebtedness for thecivic and convention center is fully paid.