MO HB806

Creates an "Economic Development Grant Program" administered by the Department of Economic Development, funded through annual general revenue appropriations and private gifts or donations.

Grants shall be distributed to companies seeking to reopen closed manufacturing factories, with grant amounts limited to the necessary costs for reopening.

Department of Economic Development shall develop application procedures for eligible companies and promulgate rules to implement the program under Missouri's rulemaking requirements.

If appropriations are insufficient to fund all approved grants in a fiscal year, all grants shall be reduced proportionally.

Program automatically sunsets six years after enactment unless reauthorized by the General Assembly, with a subsequent twelve-year sunset if reauthorized.