House Approves Rep. Tom Flanigan's Tax Amnesty Legislation

6 years 9 months 1 week ago Friday, September 09 2011 Sep 9, 2011 Friday, September 09, 2011 4:10:00 PM CDT September 09, 2011 in News
By: Amy Fenton

JEFFERSON CITY - Members of the Missouri House of Representatives gave unanimous approval Friday to legislation sponsored by state Rep. Tom Flanigan, R-Carthage, that would authorize a period of tax amnesty for delinquent taxpayers. Flanigan also added language to the bill that was requested by the City of Joplin to authorize tax increment financing to assist in disaster recovery efforts.

"The state's commitment to disaster-impacted areas is in the hundreds of millions, and this amnesty program will help to ensure that other important areas of the budget are left unscathed in the coming months," said Flanigan. "It also comes as no surprise that the full House agrees that recovery efforts will be best served by allowing our communities to have all economic development options on the table."

The tax amnesty provision of HB 2 would allow delinquent taxpayers who pay their tax bills between Jan. 1 and Feb. 29 to waive interest and penalties. The state has previously authorized tax amnesty periods that brought in approximately $74 million for fiscal year 2002 and $42 million for fiscal year 2003. Flanigan said he anticipates similar revenue numbers if HB 2 becomes law.

The tax increment financing language added to the bill would allow tax increment financing in areas that have sustained severe damage as the result of a natural disaster. Flanigan said the language was requested by the City of Joplin and would be an important component to funding the rebuilding effort in the city.

HB 2 was approved by the House by a vote of 150-0. It now moves to the Senate for consideration.

 

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