HB 1432 Summary

• Repeals and re-enacts sections 68.025, 68.035, 68.040, and 68.070 of Missouri law relating to port authority powers and operations.

• Creates the "Port Improvement District Act" (sections 68.300-68.360) allowing port authorities to establish port improvement districts within their boundaries to fund qualified projects through voter-approved real property taxes or sales and use taxes.

• Port improvement districts require a petition signed by property owners representing over 60% per capita of all owners, a public hearing, circuit court certification, and voter approval via mail-in ballot election before tax levies can take effect.

• Defines qualified projects to include environmental cleanup, energy conservation, wetland creation, historic preservation, water facilities, and pollution prevention within the district.

• Requires port authorities that establish districts to submit annual fiscal reports to their county or municipality and the Missouri Department of Transportation, and allows the state auditor to audit port authorities; expenditures over $25,000 must be competitively bid.