MO SB845

Authorizes cities and counties to impose a sales tax of up to one-half of one percent for economic development purposes, subject to voter approval at any citywide, county, or state election.

Creates the "Local Option Economic Development Sales Tax Trust Fund" to hold tax revenues, with one percent deducted for collection costs; funds must be used for specified economic development purposes including infrastructure, land acquisition, and job training.

Establishes economic development tax boards consisting of 5-9 members for cities and 7 members for counties, with representatives appointed by school districts, city/county officials, and in city boards, the county governing body.

Requires at least 20 percent of revenue be used for long-term economic development projects; limits administrative expenses to no more than 25 percent annually; prohibits use for retail development except downtown redevelopment and historic districts.

Mandates annual reporting to the state joint committee on economic development by March 1st, detailing primary goals, revenues received, and expenditures by category; allows voters to repeal the tax through either governing body submission or petition signed by 10 percent of registered voters.