Section 135.980

Title X TAXATION AND REVENUE

Chapter 135

Effective - 28 Aug 2014   

  135.980.  No restriction by ballot permitted for certain businesses with NAIC code — expiration date. — 1.  As used in this section, the following terms shall mean:

  (1)  "NAICS", the classification provided by the most recent edition of the North American Industry Classification System as prepared by the Executive Office of the President, Office of Management and Budget;

  (2)  "Public financial incentive", any economic or financial incentive offered including:

  (a)  Any tax reduction, credit, forgiveness, abatement, subsidy, or other tax-relieving measure;

  (b)  Any tax increment financing or similar financial arrangement;

  (c)  Any monetary or nonmonetary benefit related to any bond, loan, or similar financial arrangement;

  (d)  Any reduction, credit, forgiveness, abatement, subsidy, or other relief related to any bond, loan, or similar financial arrangement; and

  (e)  The ability to form, own, direct, or receive any economic or financial benefit from any special taxation district.

  2.  No city not within a county shall by ballot measure impose any restriction on any public financial incentive authorized by statute for a business with a NAICS code of 212111.

  3.  The provisions of this section shall expire on December 31, 2017.

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(L. 2014 S.B. 672)

Expires 12-31-17