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Missouri House Bill HB2240

Missouri 2024 Regular Session

Missouri House Bill HB2240 Compare Versions

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11 SECONDREGULARSESSION
2-[PERFECTED]
32 HOUSEBILLNO.2240
43 102NDGENERALASSEMBLY
54 INTRODUCEDBYREPRESENTATIVESHARPE(4).
6-4199H.01P DANARADEMANMILLER,ChiefClerk
5+4199H.01I DANARADEMANMILLER,ChiefClerk
76 ANACT
87 Toamendchapter620,RSMo,byaddingtheretosevennewsectionsrelatingtorural
98 workforcehousing,withapenaltyprovision.
109 BeitenactedbytheGeneralAssemblyofthestateofMissouri,asfollows:
1110 SectionA.Chapter620,RSMo,isamendedbyaddingtheretosevennewsections,to
1211 2beknownassections620.2030,620.2032,620.2034,620.2035,620.2036,620.2038,and
1312 3620.2040,toreadasfollows:
1413 620.2030.1.Sections620.2030to620.2040shallbeknownandmaybecitedas
1514 2the"RuralWorkforceHousingInvestmentAct".
1615 3 2.Forpurposesofsections620.2030to620.2040,thefollowingtermsmean:
1716 4 (1)"Department",thedepartmentofeconomicdevelopment;
1817 5 (2)"Director",thedirectorofthedepartmentofeconomicdevelopment;
1918 6 (3)"Eligibleactivitiesofanonprofitdevelopmentorganization":
2019 7 (a)Newconstructionofowner-occupiedorrentalhousinginacommunitywith
2120 8demonstratedworkforcehousingneeds;
2221 9 (b)Substantialrepairorrehabilitationofdilapidatedhousingstock;or
2322 10 (c)Upper-storyhousingdevelopment;
2423 11 (4)"Matchingfunds",dollarscontributedbyindividuals,businesses,
2524 12foundations,localandregionalpoliticalsubdivisions,orothernonprofitorganizations
2625 13toaworkforcehousinginvestmentfundadministeredbyanonprofitdevelopment
2726 14organization;
27+15 (5)"Nonprofitdevelopmentorganization",aregionalorstatewidenonprofit
28+16developmentorganizationapprovedbythedirector;
2829 EXPLANATION—Matterenclosedinbold-facedbrackets[thus] intheabovebillisnotenactedandis
29-intendedtobeomittedfromthelaw.Matterinbold-facetypeintheabovebillisproposedlanguage. 15 (5)"Nonprofitdevelopmentorganization",aregionalorstatewidenonprofit
30-16developmentorganizationapprovedbythedirector;
31-17 (6)"Qualifiedactivities",include,butarenotlimitedto,purchaseandrental
30+intendedtobeomittedfromthelaw.Matterinbold-facetypeintheabovebillisproposedlanguage. 17 (6)"Qualifiedactivities",include,butarenotlimitedto,purchaseandrental
3231 18guarantees,loanguarantees,loanparticipations,andothercreditenhancements,orany
3332 19otherformofassistancedesignedtoreducethecostofworkforcehousingrelatedto
3433 20eligibleactivitiesofthenonprofitdevelopmentorganization;
3534 21 (7)"Qualifiedinvestment",acashinvestmentinaworkforcehousing
3635 22investmentfundadministeredbyanonprofitdevelopmentorganization;
3736 23 (8)"Ruralcommunity",anycityorcountywithapopulationoffewerthanfifty
3837 24thousandinhabitantsasdeterminedbythemostrecentfederaldecennialcensus;
3938 25 (9)"Workforcehousing":
4039 26 (a)Housingthatmeetstheneedsofmodernworkingfamilies;
4140 27 (b)Housingthatisattractivetonewresidentsconsideringrelocationtoarural
4241 28community;
4342 29 (c)Owner-occupiedhousingunitsthatcostnotmorethantwohundredseventy-
4443 30fivethousanddollarstoconstructorrentalhousingunitsthatcostnotmorethantwo
4544 31hundredthousanddollarsperunittoconstruct.Forpurposesofthissubdivision,
4645 32housingunitcostsshallbeupdatedannuallybythedepartmentbaseduponthemost
4746 33recentincreaseordecreaseintheProducerPriceIndexforallcommodities,published
4847 34bytheUnitedStatesDepartmentofLabor,BureauofLaborStatistics;
4948 35 (d)Owner-occupiedandrentalhousingunitsforwhichthecosttosubstantially
5049 36rehabilitateexceedsfiftypercentofaunit'sassessedvalue;
5150 37 (e)Upper-storyhousing;and
5251 38 (f)Housingthatdoesnotreceivefederalorstatelow-incomehousingtaxcredits,
5352 39communitydevelopmentblockgrants,orloansorgrantsfromtheMissourihousing
5453 40trustfundundersection215.034;
5554 41 (10)"Workforcehousinginvestmentfund",afundthathasbeencreatedbya
5655 42nonprofitdevelopmentorganizationandcertifiedbythedirectortoencourage
5756 43developmentofworkforcehousinginruralcommunities.
5857 620.2032.1.Thereshallbeestablishedwithinthedepartmentofeconomic
5958 2developmentaworkforcehousinggrantprogramtofosterandsupportthedevelopment
6059 3ofworkforcehousinginruralcommunities.
6160 4 2.Anonprofitdevelopmentorganizationmayapplytothedepartmentfor
6261 5approvalofaworkforcehousinggrantforaworkforcehousinginvestmentfund.The
6362 6applicationshallbeinaformandmannerprescribedbythedirector.Throughfiscal
6463 7year2027,grantsshallbeawardedbythedirectoronacompetitivebasisuntilgrant
6564 8fundsarenolongeravailable.Grantmaximumsshallnotexceedonemilliondollarsto
66-HB2240 2 9anyonenonprofitdevelopmentorganizationoveratwo-yearperiod,withnomorethan
65+9anyonenonprofitdevelopmentorganizationoveratwo-yearperiod,withnomorethan
6766 10twomilliondollarscumulativeforanysinglegranteethroughfiscalyear2027.Grants
68-11shallrequireaminimumone-to-oneinmatchingfundstobeconsideredaqualified
67+HB2240 2 11shallrequireaminimumone-to-oneinmatchingfundstobeconsideredaqualified
6968 12grantapplication.Unallocatedworkforcehousinggrantfundsheldbythedepartment
7069 13shallberolledtothenextprogramyear.
7170 14 3.Grantsshallbeawardedbasedupon:
7271 15 (1)Ademonstratedandongoinghousingneedasidentifiedbyarecenthousing
7372 16study;
7473 17 (2)Acommunityorregionthathasalowunemploymentrateandishaving
7574 18difficultyattractingworkersandfillingemploymentpositions;
7675 19 (3)Acommunityorregionthatexhibitsademonstratedcommitmenttogrowing
7776 20itshousingstock;
7877 21 (4)Projectsthatcanreasonablybereadyforoccupancyinaperiodoftwenty-
7978 22fourmonths;and
8079 23 (5)Ademonstratedabilitytogrowandmanageaworkforcehousinginvestment
8180 24fund.
8281 25 4.Aworkforcehousinginvestmentfundshallberequiredtoreceiveannual
8382 26certificationfromthedepartment.
8483 27 5.Anonprofitdevelopmentorganizationshall:
8584 28 (1)Investorintendtoinvestinworkforcehousingeligibleactivities;
8685 29 (2)Useanyfees,interest,loanrepayments,orotherfundsitreceivesasaresult
8786 30oftheadministrationofthegranttosupportqualifiedactivities;and
8887 31 (3)Haveanactiveboardofdirectorswithexpertiseindevelopment,
8988 32construction,andfinancethatmeetsatleastquarterlytoapproveallqualified
9089 33investmentsmadebythenonprofitdevelopmentorganization.Anonprofitdevelopment
9190 34organizationshallhaveaformalplanandprovenexpertisetoinvestunusedworkforce
9291 35housinginvestmentfundbalancesandshallhaveanannualauditofallfinancialrecords
9392 36conductedbyanindependentcertifiedpublicaccountant.
9493 620.2034.1.Thereisherebycreatedinthestatetreasurythe"RuralWorkforce
9594 2HousingInvestmentFund",whichshallconsistofmoneysappropriatedtothefundby
9695 3thegeneralassembly.Thestatetreasurershallbecustodianofthefund.Inaccordance
9796 4withsections30.170and30.180,thestatetreasurermayapprovedisbursements.The
9897 5fundshallbeadedicatedfundand,uponappropriation,moneysinthisfundshallbe
9998 6usedsolelyasprovidedinsections620.2030to620.2040.Thedepartmentshall
10099 7administerthefundandmayseekadditionalprivatefunds,nonstatefunds,orfunds
101100 8fromotherinterestedpartiestouseintheworkforcehousinggrantprogram.
102-HB2240 3 9 2.Notwithstandinganyotherprovisionsoflawtothecontrary,anymoneys
101+9 2.Notwithstandinganyotherprovisionsoflawtothecontrary,anymoneys
103102 10remaininginthefundattheendofthebienniumshallnotreverttothecreditofthe
104103 11generalrevenuefund.
105-12 3.Thestatetreasurershallinvestmoneysinthefundinthesamemanneras
104+HB2240 3 12 3.Thestatetreasurershallinvestmoneysinthefundinthesamemanneras
106105 13otherfundsareinvested.Anyinterestandmoneysearnedonsuchinvestmentsshallbe
107106 14creditedtothefund.
108107 620.2035.1.Ifanonprofitdevelopmentorganizationfailstoengageintheinitial
109108 2qualifiedactivitywithintwenty-fourmonthsafterreceivinginitialgrantfunding,the
110109 3nonprofitdevelopmentorganizationshallreturnthegrantfundstothedepartmentfor
111110 4credittotheMissourihousingtrustfundestablishedundersection215.034.
112111 5 2.Ifanonprofitdevelopmentorganizationfailstoallocateanyremaininginitial
113112 6grantfundingonaqualifiedactivitywithintwenty-fourmonthsafterengaginginthe
114113 7initialqualifiedactivity,thenonprofitdevelopmentorganizationshallreturnsuch
115114 8unallocatedgrantfundstothedepartmentforcredittotheruralworkforcehousing
116115 9investmentfundestablishedundersection620.2034.
117116 10 3.Thedirectorshallhavediscretiontotransferanyunusedfundstoany
118117 11qualifyingtrustorfundbeforeAugust28,2029.BeginningAugust28,2029,anyfunds
119118 12heldbythedepartmentandnotdesignatedbythedirectortobedisbursedtoan
120119 13alternativetrustorfundshallbetransferredtotheMissourihousingtrustfund
121120 14establishedundersection215.034.
122121 620.2036.1.Eachnonprofitdevelopmentorganizationshallsubmitanannual
123122 2statusreporttothedirector.Thereportshallcertifythatthenonprofitdevelopment
124123 3organizationmeetstherequirementsofsections620.2030to620.2040andshallincludea
125124 4breakdownofprogramactivities.
126125 5 2.Theannualreportshallinclude,butnotbelimitedto:
127126 6 (1)Thenameandgeographicallocationofthereportingnonprofitdevelopment
128127 7organization;
129128 8 (2)Thenumber,amount,andtypeofworkforcehousinginvestmentfunds
130129 9investedinqualifiedactivities;
131130 10 (3)Thenumber,geographicallocation,type,andamountofinvestmentsmade;
132131 11 (4)Asummaryofmatchingfundsandwheresuchmatchingfundswere
133132 12generated;and
134133 13 (5)Theresultsoftheannualauditrequiredundersubsection5ofsection
135134 14620.2032.
136135 15 3.Ifanonprofitdevelopmentorganizationceasesadministrationofaworkforce
137136 16housinginvestmentfund,itshallfileafinalreportwiththedirectorinaformand
138137 17mannerrequiredbythedirector.BeforeAugust28,2029,anyunallocatedgrantfunds
139-HB2240 4 18shallbereturnedtothedepartmentforcredittotheruralworkforcehousinginvestment
138+18shallbereturnedtothedepartmentforcredittotheruralworkforcehousinginvestment
140139 19fund.BeginningAugust28,2029,anyunallocatedgrantfundsshallbereturnedtothe
141-20departmentforcredittotheMissourihousingtrustfundestablishedundersection
140+HB2240 4 20departmentforcredittotheMissourihousingtrustfundestablishedundersection
142141 21215.034.
143142 22 4.Ifanonprofitdevelopmentorganizationfailstofileacompleteannualreport
144143 23byFebruaryfifteenth,thedirectormay,inhisorherdiscretion,imposeacivilpenaltyof
145144 24notmorethanfivethousanddollarsforsuchviolation.Allmoneyscollectedbythe
146145 25departmentunderthissubsectionshallberemittedtothestatetreasurerfordistribution
147146 26inaccordancewithArticleIX,Section7oftheConstitutionofMissouri.
148147 620.2038.1.Thedepartmentshalluseitsbesteffortstoensurethatgrantfunds
149148 2awardedtononprofitdevelopmentorganizationsaretargetedtothegeographic
150149 3communitiesorregionswiththemostpressingeconomicandemploymentneeds.
151150 4 2.Thedepartmentshalluseitsbesteffortstoensurethattheallocationofgrant
152151 5fundsprovidesequitableaccesstothebenefitsprovidedbysections620.2030to620.2040
153152 6toalleligiblegeographicalareas.
154153 7 3.Thedepartmentmaycontractwithastatewidepublicorprivatenonprofit
155154 8organizationthatshallserveasagentforthedepartmenttohelpcarryoutthepurposes
156155 9andrequirementsofsections620.2030to620.2040.Thedepartmentoritsagentshall
157156 10useforexpensesonlythatportionofthefundsavailablefortheworkforcehousinggrant
158157 11programthroughtheruralworkforcehousinginvestmentfundnecessarytocoverthe
159158 12actualcostsofadministeringtheprogramincluding,butnotlimitedto,thehiringof
160159 13staff.
161160 620.2040.1.Thedepartmentshallsubmitanannualstatusreporttothegeneral
162161 2assemblyandthegovernorthatincludes,butisnotlimitedto:
163162 3 (1)Thenumberandgeographicallocationofnonprofitdevelopment
164163 4organizationsestablishingworkforcehousinginvestmentfunds;
165164 5 (2)Thenumber,amount,andtypeofworkforcehousinginvestmentfunds
166165 6investedinqualifiedactivities;and
167166 7 (3)Thenumber,geographicallocation,type,andamountofinvestmentsmade
168167 8byeachnonprofitdevelopmentorganization.
169168 9 2.Thereporttothegeneralassemblyshallbesubmittedelectronically.
170169 10 3.Informationreceived,developed,created,orotherwisemaintainedbythe
171170 11departmentinadministeringandenforcingsections620.2030to620.2040,otherthan
172171 12informationrequiredtobeincludedinthereporttobesubmittedbythedepartmentto
173172 13thegovernorandthegeneralassemblyunderthissection,maybedeemedconfidential
174173 14bythedepartmentandnotconsideredpublicrecordssubjecttodisclosureunder
175174 15chapter610.
176-HB2240 5 16 4.Thedirectormaypromulgateallnecessaryrulesandregulationsforthe
175+16 4.Thedirectormaypromulgateallnecessaryrulesandregulationsforthe
177176 17administrationofsections620.2030to620.2040.Anyruleorportionofarule,asthat
178-18termisdefinedinsection536.010,thatiscreatedundertheauthoritydelegatedinthis
177+HB2240 5 18termisdefinedinsection536.010,thatiscreatedundertheauthoritydelegatedinthis
179178 19sectionshallbecomeeffectiveonlyifitcomplieswithandissubjecttoallofthe
180179 20provisionsofchapter536and,ifapplicable,section536.028.Thissectionandchapter
181180 21536arenonseverableandifanyofthepowersvestedwiththegeneralassembly
182181 22pursuanttochapter536toreview,todelaytheeffectivedate,ortodisapproveandannul
183182 23arulearesubsequentlyheldunconstitutional,thenthegrantofrulemakingauthority
184183 24andanyruleproposedoradoptedafterAugust28,2024,shallbeinvalidandvoid.
185184 âś”
186185 HB2240 6