MO HB949

Allows cities and counties to impose up to one-half of one percent sales tax for economic development purposes upon voter approval.

Changes city economic development tax board composition from five fixed members to seven or nine members, with the specific number designated in the ordinance imposing the sales tax.

Increases school district-appointed board members from one to two and city-appointed members from three to either three or five, depending on total board size selected.

Requires at least 20 percent of tax revenues be dedicated to long-term economic development projects including land acquisition, infrastructure, and water/wastewater improvements.

Limits administrative expenses to maximum 25 percent of annual revenue and prohibits use of funds for retail development except downtown and historic district redevelopment.