100.260. Funds established--administration, investment--no transfer to general revenue, when--increase of certain revenue calculated and allocated to Jobs Now fund. - Missouri Statutes

Funds established--administration, investment--no transfer to generalrevenue, when--increase of certain revenue calculated and allocatedto Jobs Now fund.

100.260. 1. There are hereby created four special funds, to be knownas the "Industrial Development and Reserve Fund", the "IndustrialDevelopment Guarantee Fund", the "Export Finance Fund", and the "Jobs NowFund", into which the following may be deposited as and when received anddesignated for deposit in one of such funds:

(1) Any moneys appropriated by the general assembly for use by theboard in carrying out the powers set forth in sections 100.250 to 100.297;

(2) Any moneys made available through the issuance of revenue bondsunder the provisions of sections 100.250 to 100.295*;

(3) Any moneys received from grants or which are given, donated, orcontributed to the fund from any source;

(4) Any moneys received in repayment of loans or from applicationfees, reserve participation fees, guarantee fees and premium payments asprovided for under sections 100.250 to 100.297;

(5) Any moneys received as interest on deposits or as income onapproved investments of the fund;

(6) Any moneys obtained from the issuance of revenue bonds or notesby the board;

(7) Any moneys that were in the industrial development fundauthorized by this section, the economic development reserve authorized bysection 620.215*, RSMo, or the industrial revenue bond guarantee fundauthorized by section 620.240*, RSMo, respectively, as of September 28,1985; and

(8) Any moneys obtained from any other available source.

2. The development and reserve fund, the guarantee fund, the jobs nowfund, and the export finance fund shall be administered by the board asprovided in sections 100.250 to 100.297. Separate accounts may be createdwithin the development and reserve fund and the guarantee fund for moneysspecifically appropriated, donated or otherwise received for industrialdevelopment purposes. The board may also create such other separateaccounts within any of such funds as deemed necessary or appropriate by theboard to carry out the duties and purposes of sections 100.250 to 100.297.All such separate accounts may be administered by a corporate trustee onbehalf of the board upon the terms and conditions established by the board.

3. Moneys in the jobs now fund, the development and reserve fund, theguarantee fund, and the export finance fund shall be invested by the boardin the manner prescribed by the board and any interest earned on investedmoneys shall accrue to the benefit of the respective fund.

4. None of the funds and accounts of the board shall be considered astate fund, and money deposited therein may not be appropriated therefrom,nor shall any money deposited therein be subject to the provisions ofsection 33.080, RSMo.

5. The commissioner of administration shall annually calculate theincreased amount of revenue to the state treasury due to the provisions ofsections 135.155, 135.286, 135.546, and subsection 7 of section 620.1039,RSMo, as enacted or modified by this act** and shall allocate up to twelvemillion dollars of such revenue to the jobs now fund.

(L. 1982 S.B. 681 § 3, A.L. 1985 H.B. 416, A.L. 1986 S.B. 731, A.L. 1989 H.B. 378, A.L. 2004 S.B. 1155)

*Sections 100.295, 620.215, and 620.240 were repealed by H.B. 416 in 1985.

**"This act" (S.B. 1155, 2004) contained numerous sections. Consult Disposition of Sections table for a definitive listing.