Missouri HB3395 extends incentives for expanded downtown redevelopment projects approved by the Department of Economic Development.
Missouri HB3395 amends the Missouri Downtown and Rural Economic Stimulus Act (MODESA) to extend incentives for expanded downtown redevelopment projects. The bill allows for the modification of development areas and projects, and extends the term of obligations and payments in lieu of taxes to 35 years. It also allows for the disbursement of state and residential income tax increments to support development costs. The bill aims to encourage new economic development, private investment, job creation, and tax revenue generation.
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