Environmental & Healthcare Legislative Watch50 States · D.C. · U.S. Congress
From official state and federal legislative records. Informational only, not legal advice.
With a committee
A small team of lawmakers (a committee) is reading it closely and deciding if it's a good idea.
Next: the committee votes on whether it moves to the full chamber.
In plain words
AI summaryWritten by AI from the bill text. Check the official text before relying on it.
SS/SCS/SBs 1694 & 1688 - This act expands the "Missouri Downtown and Rural Economic Stimulus Act" by increasing allowable tax increments, extending project durations, and broadening eligibility and financing mechanisms for redevelopment projects. Current law defines terms used under the Missouri Downtown and Rural Economic Stimulus Act (MODESA), including development project, economic activity taxes, and related financing mechanisms used for redevelopment. This act modifies the definition of "economic activity taxes" to expand the types of revenues that may be captured, including certain additional local taxes, fees, and other revenue sources generated within a project area. The act also modifies and adds definitions relating to "expanded development projects", allowing for broader project structures and eligibility. Current law allows municipalities to establish a downtown economic stimulus authority to approve and oversee redevelopment projects within a defined downtown area. This act modifies the authority structure by allowing greater flexibility in how project areas are defined and administered, including permitting project areas to be not limited strictly to traditional downtown boundaries. The act also revises procedures for project approval and oversight. Current law requires development plans to meet certain statutory requirements, including demonstrating eligibility, outlining project costs, and identifying anticipated revenues and financing structures. This act modifies development plan requirements by expanding eligibility criteria and allowing for expanded development projects. The act removes certain prior limitations and allows municipalities greater discretion in structuring redevelopment plans, including modifications and expansions of previously approved projects. Current law allows redevelopment projects to be financed through a combination of payments in lieu of taxes (PILOTs), economic activity taxes (EATs), and a portion of state ta
