Extends economic incentives for downtown redevelopment projects in Missouri.

Missouri SB1694 extends economic incentives for downtown redevelopment projects, authorizing the Missouri Department of Economic Development to approve expanded development projects. These projects can receive state construction income tax increments and residential income tax increments to support development costs. The bill outlines specific criteria for project approval, including economic impact analyses and community benefits. It also defines terms like "developer" and "expanded development project," and specifies the duration and conditions of tax increment disbursements.

Extends economic incentives for downtown redevelopment projects in Missouri.

Missouri SB1694 extends economic incentives for downtown redevelopment projects, authorizing the Missouri Department of Economic Development to approve expanded development projects. These projects can receive state construction income tax increments and residential income tax increments to support development costs. The bill outlines specific criteria for project approval, including economic impact analyses and community benefits. It also defines terms like "developer" and "expanded development project," and specifies the duration and conditions of tax increment disbursements.