HB 2007 Summary

• Appropriates $575,927,558 total for the Department of Economic Development ($269.4M), Department of Commerce and Insurance ($65.6M), and Department of Labor and Industrial Relations ($240.9M) for fiscal year July 1, 2020 through June 30, 2021.

• Provides $30 million from federal stimulus funds to reimburse small Missouri businesses with 50 or fewer employees for business interruption costs from COVID-19 required closures, with one-quarter allocated to family-owned farms.

• Allocates $125 million for Community Development Block Grant Program projects ($105M pass-through, $35M for projects after July 1, 2020, and $70M for projects before that date), with restriction on funds to out-of-state higher education institutions.

• Funds $31.8 million for Missouri Supplemental Tax Increment Financing and $1.6 million for State Supplemental Downtown Development Fund for specified economic development projects.

• Appropriates $61.5 million for Division of Employment Security operations and $28 million for federal unemployment assistance programs including Disaster Unemployment Assistance administration.