MO HB1554

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

Distributes grants to companies to reopen closed manufacturing factories, with grant amounts limited to the actual costs necessary for reopening.

Department of Economic Development shall develop application procedures and rules to implement the program under chapter 536 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 the effective date unless reauthorized by the general assembly, with a 12-year sunset if reauthorized.