SECOND REGULAR SESSION
97TH GENERAL ASSEMBLY
INTRODUCED BY REPRESENTATIVE CURTIS.
6533L.02I D. ADAM CRUMBLISS, Chief Clerk
AN ACT
To amend chapter 67, RSMo, by adding thereto one new section relating to the historic revitalization act.
Be it enacted by the General Assembly of the state of Missouri, as follows:
Section A. Chapter 67, RSMo, is amended by adding thereto one new section, to be known as section 67.5200, to read as follows:
67.5200. 1. This section shall be known and may be cited as the "Historic Revitalization Act" to encourage the revitalization of abandoned and vacant properties, to encourage the building of new properties, to maximize the number and type of businesses, services, and employment opportunities available in the community, and to allow for the building of a state park in a city of the fourth classification with more than two hundred eighty-five but fewer than three hundred twenty inhabitants and located in any county with a charter form of government and with more than nine hundred fifty thousand inhabitants.
2. (1) There is hereby established the "Community Revitalization Authority", hereafter known as the "Authority". The authority shall consist of seven persons, which shall include:
(a) A person from a bank or credit union;
(b) A person from a community development entity;
(c) A clergy member;
(d) A person from the school district;
(e) A business person;
(f) A member of the city council; and
(g) A citizen of the community.
(2) The authority shall create a plan for the revitalization of the area described in subsection 1 of this section. The authority shall have the ability to issue bonds and levy taxes. The authority may disperse any moneys that are to be used for the revitalization under this section as long as such moneys are used for a project in the plan it develops under this subdivision.
3. There is hereby created the "Historic Revitalization Fund", which shall consist of money appropriated to it by the general assembly and any gifts, contributions, grants, or bequests received from federal, private, or other sources for revitalization of new or existing residences, businesses, or recreational areas, including parks, within the area to be revitalized. The state treasurer shall be custodian of the fund and shall approve disbursements from the fund in accordance with sections 30.170 and 30.180. Upon appropriation, money in the fund shall be used solely for the administration of this section. Notwithstanding the provisions of section 33.080, to the contrary, any moneys remaining in the fund at the end of the biennium shall not revert to the credit of the general revenue fund. The state treasurer shall invest moneys in the fund in the same manner as other funds are invested. Any interest and moneys earned on such investments shall be credited to the fund.
4. In addition to moneys provided under subsection 3 of this section, five percent of tax credit programs under state law that help small disadvantaged communities and loans from the state may also be used for revitalization projects under this section.
5. (1) To encourage college graduates to relocate to the revitalized area under this section, such graduate may receive student loan reimbursement payments up to fifteen thousand dollars in return for his or her commitment to remain in the revitalized area for a period of five years under any guidelines established by the authority and the department of economic development.
(2) There is hereby created the "Neighborhood Scholar Fund", which shall consist of money appropriated to it by the general assembly and any gifts, contributions, grants, or bequests received from federal, private, or other sources. Such money shall be used for student loan reimbursement payments under subdivision (1) of this subsection. The state treasurer shall be custodian of the fund and shall approve disbursements from the fund in accordance with sections 30.170 and 30.180. Upon appropriation, money in the fund shall be used solely for the administration of this subsection. Notwithstanding the provisions of section 33.080, to the contrary, any moneys remaining in the fund at the end of the biennium shall not revert to the credit of the general revenue fund. The state treasurer shall invest moneys in the fund in the same manner as other funds are invested. Any interest and moneys earned on such investments shall be credited to the fund.
6. The authority, in conjunction with the department of economic development, shall promulgate rules to implement the provisions of this section. Any rule or portion of a rule, as that term is defined in section 536.010, that is created under 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, 2014, shall be invalid and void.
7. Under section 23.253 of the Missouri sunset act:
(1) The provisions of the new program authorized under this section shall automatically sunset six years after the effective date of this section unless reauthorized by an act of the general assembly; and
(2) If such program is reauthorized, the program authorized under this section shall automatically sunset twelve years after the effective date of the reauthorization of this section; and
(3) This section shall terminate on September first of the calendar year immediately following the calendar year in which the program authorized under this section is sunset.
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