MO HB1400

Creates an "Economic Development Grant Program" funded by annual general assembly appropriations and private donations to be administered by the Department of Economic Development

Distributes grants to companies seeking to reopen closed manufacturing facilities, with grant amounts limited to the actual cost necessary for reopening

Requires the Department of Economic Development to develop application procedures and promulgate rules for program implementation under Chapter 536 rulemaking provisions

Reduces all approved grants pro rata if annual appropriations are insufficient to fund all eligible requests

Program automatically sunsets six years after effective date unless reauthorized by the general assembly, with reauthorized programs sunning twelve years after reauthorization