MO HB1779

Adds "disaster area" as a new classification for tax increment financing eligibility, defined as a blighted area where the President has declared a disaster under the Robert T. Stafford Disaster Relief and Emergency Assistance Act, provided the municipality adopts an ordinance within two years of the declaration

Allows taxing districts' operating costs and debt service costs (in addition to capital costs) to be included in redevelopment project costs for disaster areas, and permits financial feasibility information to be provided by the municipality rather than the developer

Establishes the Missouri Supplemental Disaster Recovery Fund with up to 50% of state disaster recovery revenues (sales tax and income tax withholding) available for appropriation to municipalities with approved disaster redevelopment projects, with a maximum 15-year duration (up to 23 years with approval)

Requires municipalities applying for disaster recovery funds to submit detailed applications including business identification, base year tax data, estimated incremental increases, cost-benefit analysis, and employment information to the Department of Economic Development for approval

Creates separate accounting requirements for disaster recovery revenues in special allocation funds and mandates ongoing reporting to the Department of Economic Development, with penalties for municipalities that fail to comply with reporting requirements