MO SB725

Adds a new requirement that developers and any business in which they hold more than two percent ownership cannot owe delinquent federal, state, or local taxes, or interest or penalties on such taxes before a redevelopment plan can be adopted.

Requires developers to submit an affidavit with the redevelopment plan attesting that they meet all provisions of the subdivision, including the tax compliance requirement.

Maintains existing requirements that redevelopment plans must include estimated costs, funding sources, relocation assistance plans, cost-benefit analyses, and findings that the area qualifies for tax increment financing.

Specifies that redevelopment projects must be completed within 23 years of adoption, ordinances approving projects must be adopted within 10 years of the redevelopment plan approval, and property acquisition by eminent domain must occur within 5 years.

Requires annual reporting by February 28 to the economic development director of businesses relocating to the district, with compilation and reporting to state leadership by April 30 each year.