MO SB950

Repeals and reenacts section 99.080, RSMo, relating to powers granted to municipal housing authorities in Missouri

Expands authority powers to require contractors and subcontractors on housing projects to comply with minimum and prevailing wages, maximum hours of labor, and federal government conditions or requirements attached to financial aid

Requires city approval before construction, reconstruction, improvement, alteration or repair of housing projects in unincorporated areas of first class counties with charter government that are bordered by third class cities providing services

Mandates that at least 50 percent of profits from management fees on private rental, cooperative or condominium housing projects be applied to improving housing units for very low income persons, with remaining profits for low income housing

Requires that at least 70 percent of profits from housing authority corporations and agents be directed toward improving housing for very low or lower income persons, with at least 20 percent of project units reserved for very low or low income occupancy