§ 40-370. Retention of license tax rates.

(a)

Purpose. RSMo § 393.275.1, provides that if an electric or natural gas utility rates are increased by more than seven percent any city imposing a gross receipts tax on the sale of the commodity must adopt an ordinance providing for the maintenance of current license tax rates or reduce rates. This provision is made applicable to heating companies by RSMo § 393.290. It is the purpose of this section to maintain the tax rates currently imposed by this Code.

(b)

Maintenance of rates. The license tax rates imposed by section 40-344 through section 40-350, as modified by section 40-369, of this Code shall remain the effective tax rates for natural gas, electric and heating utilities without adjustment.

(c)

Continuation of rates. These rates, unless otherwise changed by ordinance, will be continued whenever rate increases of any amount are granted a natural gas, electric or heating utility.

(Ord. No. 130131, § 1, 3-7-13; Ord. No. 140922 , § 1, 10-30-14)