Bill > HB2661

This bill, titled the "Powering Growth Act," establishes new provisions within Chapter 260 of the Missouri Revised Statutes (RSMo) to create the Missouri Energy Infrastructure Bank and the Missouri Energy Infrastructure Fund. The bill defines key terms such as "Authority" (the environmental improvement and energy resources authority, or EIERA), "Electric provider" (including electrical corporations, municipally owned utilities, and rural electric cooperatives), and "Eligible project" (energy infrastructure projects that enhance sites approved by EIERA or support energy infrastructure in areas intended to facilitate economic development, with a focus on rural areas). It outlines the powers of the Authority to provide financial assistance, including loans and guarantees, to electric providers for eligible projects, and to issue bonds to finance these initiatives, with a total bonding limit of one billion dollars. The bill also establishes a "Strategic Energy Infrastructure Development Fund" specifically for infrastructure improvements and items in rural areas before September 30, 2030, after which remaining funds will be split between rural and other energy infrastructure projects. Applications for funding will be reviewed by the Authority, with specific allocations reserved for rural areas, and provisions are made for joint applications between electric providers and economic development prospects, particularly for long-lead items. The Authority is required to submit annual reports on the activities of the energy bank and the strategic development fund. Importantly, bonds issued under this act are not considered obligations of the state, and the bill includes provisions for investment and taxation of these bonds.

https://house.mo.gov/Bill.aspx?bill=HB2661&year=2026&code=R