Senate Bill No. 681 Summary

• Establishes the "Duty Free Zones Act" allowing Missouri municipalities to designate blighted areas within qualified census tracts as duty free zones with reduced or eliminated sales tax for terms not exceeding 23 years.

• Requires municipalities to adopt ordinances specifying zone boundaries, tax favored status, term conditions, and safety/security requirements, with zone names reflecting historical significance.

• Mandates public hearings with notice to affected taxing districts at least 45 days in advance, allowing interested persons and taxing districts to submit written objections and oral testimony.

• Requires county approval via ordinance or resolution matching the municipal tax favored status amount and term, plus approval from the Missouri development finance board before tax benefits take effect.

• Limits each municipality to one duty free zone at a time, with individual businesses receiving tax favored status for up to 15 years and required to report deferred taxes to the municipality.

• Becomes effective only upon voter approval of a constitutional amendment authorizing tax-free or reduced tax zones.