Bill > HB3372

This bill amends Missouri law by adding a new section, 68.042, which outlines specific requirements for development agreements between a port authority and the federal government concerning incentivized developments. These agreements must include either an immediate buyout payment equivalent to the discounted present value of future tax payments, or community benefit payments to the local municipality or county for the duration of the incentive period, which must be at least equal to five years of the current tax payment rate, plus any additional amount the port authority deems necessary to compensate for lost community benefits from existing projects. Alternatively, the agreement can be approved by resolutions from the governing bodies of all political subdivisions within the port authority's jurisdiction. If these provisions are not included, the development agreement will create a statutory lien on the property, and the conveyance can be voided by the port authority.

https://house.mo.gov/Bill.aspx?bill=HB3372&year=2026&code=R