MO HB423

Extends the maintenance cost period for eligible parcels from 5 to 12 years after acquisition, and clarifies that engineering, surveying, title insurance, and architectural costs are included in acquisition costs.

Allows applicants to acquire parcels through affiliated companies under common ownership or control, and expands the definition of eligible parcels to include acquisitions before August 28, 2007 from municipal authorities under certain conditions.

Adds a new category of eligible project areas under the real property tax increment allocation redevelopment act (requiring at least 300 acres, 1 million+ square feet of commercial space, 80+ parcels, and low-income community status) with a 150-acre contiguity requirement for applicants.

Increases the annual tax credit cap from $20 million to $30 million and extends the authorization deadline from August 28, 2013 to August 28, 2019, while allocating 50% of credits to each project area category.

Changes the filing period for tax credits from annual to quarterly basis and includes loan refinancing interest in "interest costs" definition.