MO HB1592

Repeals and revises sections 67.463, 67.469, and 67.548 relating to special assessments, assessment liens, and county sales tax revenue distribution.

Modifies county road and bridge levy provisions to require counties to maintain funding levels at least equal to fourteen cents per one hundred dollars assessed valuation by allocating sales tax or other available funds if the special road and bridge levy falls below that threshold.

Establishes the "STAR Bonds Financing Act" (sections 67.2070-67.2073) authorizing cities and counties to issue special obligation bonds to finance major development projects in eligible areas including historic theaters, major tourism areas, multisport athletic complexes, and river walk facilities.

STAR bond projects require director approval based on capital investment of at least fifty million dollars and projected annual gross sales of fifty million dollars, with financing up to fifty percent of total project costs payable from sales tax increment revenue and other specified sources.

Imposes a twenty-year maximum maturity on STAR bonds, requires feasibility studies and public hearings before project approval, mandates annual audits of bond fund usage, and sets an expiration date of June 30, 2017 for the STAR Bonds Financing Act.