MO HB1518

Requires tax increment financing (TIF) projects within economic development areas to fund only infrastructure improvements such as highways, roads, bridges, sewers, water systems, and sidewalks, explicitly excluding buildings.

Mandates a two-thirds majority vote by a municipality's governing body to approve a redevelopment plan, project, or area designation when the commission recommends opposition to the proposal.

Imposes an additional requirement for certain counties with charter governments (those with 950,000+ inhabitants, 300,000-450,000 inhabitants, or 200,000-350,000 inhabitants) to limit economic activity tax revenues to $3 million per redevelopment project when approving projects without majority commission recommendation.

Requires written notice to all affected taxing districts at least seven days before conclusion of public hearings for proposed changes to redevelopment plans, projects, or areas.

Allows post-hearing modifications to redevelopment plans without additional hearings if changes do not expand exterior boundaries or substantially alter land uses, with at least ten days' notice to affected taxing districts.