Mo. House approves business property tax measure
Friday, September 9, 2011
JEFFERSON CITY, Mo. (AP) — The Missouri House has approved a property tax break for businesses destroyed by natural disasters.
Friday’s 149-0 vote sends the measure to the state Senate.
The legislation allows disaster-damaged buildings on commercial property to be removed from property tax rolls until the structures can be used again. Local governments would need to decide to offer the tax break.
Lawmakers on Friday also broadened the legislation to help communities rebuild from natural disasters. Proponents said the measure would allow some state tax revenue collected in designated redevelopment areas to be used for recovery.
Missouri has faced several disasters this year, including tornadoes in Joplin, Sedalia and the St. Louis area and flooding along the Mississippi and Missouri rivers.
Natural disasters is HB5