SS/SCS/SB 663 - This act allows the State of Missouri and any other public body to expend funds for the purpose of aiding and cooperating in the planning, undertaking or carrying out of a land clearance project or projects within the City of St. Louis to develop, construct, reconstruct, rehabilitate, repair or improve any tourism infrastructure facilities, as defined in the act, which exists as of August 28, 2018, and for which an application is made and approved by the Department of Economic Development by August 28, 2019.
Any expenditure for such a land clearance project shall be limited to a portion of tax revenues derived directly or indirectly from such project as stated in an agreement between the public body and the land clearance for redevelopment authority, provided that such agreement shall not be longer than thirty years, the annual amount of state appropriation shall not exceed six million dollars, and the project shall be determined to produce a positive net fiscal impact for the state over the term of such agreement.
The Director of the Department of Economic Development shall make an annual report detailing the overall net fiscal impact to the state for each project.
This provision is substantially similar to HB 1609 (2018), SB 469 (2017), HB 1061 (2017), and HB 2805 (2016).
Additionally, the Jackson County Convention and Sports Complex Fund is currently authorized to receive $3M in state appropriations each year until 2019. This act extends such date to 2024. (Section 67.641)