Bill > HB1542

This bill modifies existing Missouri state law by establishing specific reporting requirements for municipalities regarding revenue and general obligation bond issuances. Starting January 31st each year, municipalities must submit detailed annual reports to the Department of Economic Development that include ten specific pieces of information about bond issuances, such as the issuing entity's contact details, beneficiary firm information, bond characteristics (amount, term, interest rate), underwriter and guarantor information, beneficiary firm size and employment data, a preliminary official statement, estimated job creation, a detailed list of bond proceeds usage, and the project's estimated total cost. The key addition to the existing law is that the Department of Economic Development is now explicitly authorized to publish these submitted reports on its website, enhancing transparency by making this financial information publicly accessible. This legislation aims to provide greater visibility into how municipalities use bond financing for economic development projects.

https://house.mo.gov/Bill.aspx?bill=HB1542&year=2025&code=R