MO HB1483

Municipalities may designate blighted areas within qualified census tracts as "duty free zones" and grant tax-favored status (reduced or eliminated sales tax) for up to 23 years.

Zone designation requires a municipal ordinance containing boundaries, tax rates, term conditions, and a historically significant name for the zone.

Municipalities must hold a public hearing with notice to affected taxing districts at least 45 days in advance; changes to boundaries or tax rates require 7-day written notice to affected districts.

County government must adopt an ordinance authorizing equal tax-favored status and the Missouri Development Finance Board must approve the zone designation before businesses can receive benefits.

Tax revenues collected within duty free zones go to a "Blighted Area Restoration Fund" managed by a board appointed by the mayor to fund restoration projects in the blighted area; individual businesses receive tax-favored status for up to 15 years and must report deferred taxes annually.