135.980. No restriction by ballot permitted for certain businesses with NAIC code — expiration date.

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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