MO HB941

Adds new definitions to Missouri's tax increment financing (TIF) law including "central business district," "high unemployment," "low fiscal capacity," "moderate income," "new job," and "retail project"

Requires redevelopment plans to include a signed study demonstrating the property has not been developed through private enterprise, and projects over $250,000 must include an economic feasibility analysis with pro forma financial statements

Restricts TIF use for retail projects in metropolitan areas to locations meeting specific criteria: municipalities with low fiscal capacity, areas with high unemployment (1.5x the metro area rate), or areas with moderate income (under 80% of metro median household income)

Limits TIF for primarily retail projects to 5% of total redevelopment costs or 30% of infrastructure costs unless located in areas with median household income below 70% of the metropolitan area, distressed communities, or enterprise zones

Requires municipalities to pay 25% of payments in lieu of taxes to other affected taxing entities, mandates annual reporting to the Department of Economic Development, and entitles emergency service districts to reimbursement of 25-100% of their tax increment