Effective - 28 Aug 2005
99.1092. Fund established, allocation of moneys — rulemaking authority. — 1. There is hereby established within the state treasury a special fund to be known as the "Downtown Revitalization Preservation Fund", to be administered by the department of economic development. Any unexpended balance and any interest in the fund at the end of the biennium shall be exempt from the provisions of section 33.080 relating to the transfer of unexpended balances to the general revenue fund. The fund shall consist of:
(1) The first fifteen million dollars of other net new revenues generated annually by the redevelopment projects;
(2) Money received from costs charged under subsection 7 of section 99.1090; and
(3) Gifts, contributions, grants, or bequests received from federal, private, or other sources.
2. Notwithstanding the provisions of section 144.700 to the contrary, the department of revenue shall annually submit the first fifteen million dollars of other net new revenues generated by the redevelopment projects to the treasurer for deposit in the downtown revitalization preservation fund.
3. The department of economic development shall annually disburse funds from the downtown revitalization preservation fund in amounts determined under the certificates of approval for projects, providing that the amounts of other net new revenues generated from the redevelopment area have been verified and all of the conditions of sections 99.1080 to 99.1092 are met. If the revenues appropriated from the downtown revitalization preservation fund are not sufficient to equal the amounts determined to be disbursed under such certificates of approval, the department of economic development shall disburse the revenues on a pro rata basis to all such projects and other costs approved under section 99.1090.
4. In no event shall the amounts distributed to a project from the downtown revitalization preservation fund exceed the lessor of the amount of the certificates of approval for projects or the actual other net new revenues generated by the projects.
5. The department of economic development shall not disburse any moneys from the downtown revitalization preservation fund for any project which has not complied with the annual reporting requirements determined by the department of economic development.
6. Money in the downtown revitalization preservation fund may be spent for the reasonable and necessary costs associated with the administration of the program authorized under sections 99.1080 to 99.1092.
7. No municipality shall obligate or commit the expenditure of disbursements received from the downtown revitalization preservation fund prior to receiving a certificate of approval for the redevelopment project generating other net new revenues. In addition, no municipality shall commence work on a redevelopment project prior to receiving a certificate of approval for the redevelopment project.
8. Taxpayers in any redevelopment area who are required to remit sales taxes under chapter 144 shall provide additional information to the department of revenue in a form prescribed by the department by rule. Such information shall include, but shall not be limited to, information upon which other net new revenues can be calculated and sales tax generated in the redevelopment area by such taxpayer in the baseline year and during the time period related to the sales tax remittance.
9. Any rule or portion of a rule, as that term is defined in section 536.010, that is created pursuant to the authority delegated in this section shall become effective only if it complies with and is subject to all of the provisions of chapter 536 and, if applicable, section 536.028. This section and chapter 536 are nonseverable and if any of the powers vested with the general assembly pursuant to chapter 536 to review, to delay the effective date, or to disapprove and annul a rule are subsequently held unconstitutional, then the grant of rulemaking authority and any rule proposed or adopted after August 28, 2003, shall be invalid and void.
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(L. 2005 H.B. 58 merged with S.B. 210)
Structure Missouri Revised Statutes
Title VII - Cities, Towns and Villages
Chapter 99 - Municipal Housing
Section 99.010 - Designation of law.
Section 99.030 - Declaration and purpose of law.
Section 99.040 - Creating a housing authority — need of, how determined.
Section 99.050 - Commissioners — appointment — qualifications — term — compensation.
Section 99.052 - Commissioner may be employee of city or county.
Section 99.055 - Annual audit, content — annual hearings.
Section 99.060 - Commissioner or employee of authority to have no interest in any housing project.
Section 99.070 - Commissioner, how removed.
Section 99.090 - Rentals, how fixed.
Section 99.100 - Rentals and tenant selection — duties.
Section 99.120 - Acquisition of property.
Section 99.130 - Housing projects subject to local regulations.
Section 99.134 - Commissioners of housing authority — membership — terms (Kansas City).
Section 99.140 - Authority to have power to issue bonds — liability therefor.
Section 99.150 - Bonds, how issued — how sold — interest.
Section 99.160 - Powers of authority in connection with issuance of bonds.
Section 99.170 - State auditor to pass upon validity of bonds.
Section 99.180 - Rights of an obligee of an authority.
Section 99.190 - Rights of authority upon the happening of an event of default.
Section 99.200 - Real property of authority exempt from levy and sale by virtue of an execution.
Section 99.210 - Authority may borrow money or accept grants or assistance from federal government.
Section 99.220 - Authority to file report annually.
Section 99.225 - Funds to be used only for certain purposes.
Section 99.230 - Effect of sections 99.010 to 99.230.
Section 99.300 - Citation of law.
Section 99.310 - Declaration of policy.
Section 99.330 - Authority may be created, when.
Section 99.340 - Board of commissioners — appointment — qualifications — terms.
Section 99.350 - Board of commissioners — meetings — quorum — employees.
Section 99.360 - Regional authority — creation — area of operation increased, how.
Section 99.380 - Commissioners — compensation — certificate of appointment.
Section 99.390 - Commissioner — misconduct in office — removal — procedure.
Section 99.400 - Commissioner not to acquire interest voluntarily in clearance project — penalty.
Section 99.410 - Resolution creating authority deemed conclusive, when — filing.
Section 99.420 - Powers of authority.
Section 99.450 - Authority may dispose of property, how.
Section 99.460 - Power of eminent domain — procedure.
Section 99.470 - Vacant land may be developed, when.
Section 99.480 - Bonds — authority to issue — how paid.
Section 99.490 - Bonds — conditions — interest rate — to be sold at par.
Section 99.520 - Bond issues — additional powers of authority.
Section 99.530 - Default of bonds — rights of obligee.
Section 99.540 - Obligee — additional rights.
Section 99.550 - Bonds — who may invest in.
Section 99.560 - Authority may convey property to federal government in case of default.
Section 99.570 - Property of authority exempt from execution.
Section 99.580 - Powers of a public body to cooperate in land clearance project.
Section 99.590 - Public notice of conveyance or agreement not required.
Section 99.600 - Community may issue and sell bonds to aid project.
Section 99.620 - Annual report, satisfactory progress of projects, procedure to determine.
Section 99.630 - Authority may take over projects of constitutional charter city or county.
Section 99.640 - Master plan — municipalities authorized to prepare.
Section 99.650 - Construction of law.
Section 99.660 - Powers additional to those conferred by other laws.
Section 99.705 - Assessor to issue current assessed value statement, when.
Section 99.710 - Assessor's statement, area covered — on file for ten years.
Section 99.800 - Law, how cited.
Section 99.830 - Notice of public hearings, publication and mailing requirements, contents.
Section 99.843 - Greenfield areas, no new projects to be designated, when.
Section 99.860 - Severability.
Section 99.886 - Discrimination in sale or rental prohibited.
Section 99.888 - Inspection by government agencies authorized, when — purpose.
Section 99.891 - Applicants, priority for selection.
Section 99.896 - Abatement or deferral of real property taxes, requirements.
Section 99.901 - Urban homesteading fund established, purpose.
Section 99.907 - Tax exemption for interest on bonds.
Section 99.912 - Civil actions to compel governing body issuing bonds to perform all duties.
Section 99.915 - Title — funding exclusions — act supersedes other inconsistent laws.
Section 99.919 - Out-of-state business, projects that relocate, calculation of new net revenues.
Section 99.921 - Downtown economic stimulus authority authorized, limitations.
Section 99.936 - Disposal of real property.
Section 99.968 - Debt service levies, computation of.
Section 99.975 - Application approvals, limitations.
Section 99.1000 - Definitions.
Section 99.1006 - Rural economic stimulus authority authorized, limitations.
Section 99.1021 - Disposal of real property.
Section 99.1027 - Developmental plan, contents, adoption of, procedure.
Section 99.1054 - Debt service levies, computation of.
Section 99.1080 - Citation of law.
Section 99.1082 - Definitions.
Section 99.1086 - Redevelopment plan, contents — adoption of plan, when.
Section 99.1092 - Fund established, allocation of moneys — rulemaking authority.