MO HB3395

Creates the "Missouri Downtown Economic Stimulus Act Extension Act" extending the expired MODESA program (which ended January 1, 2013) to allow new "expanded development projects" within previously approved development areas in Kansas City and St. Louis

Allows developers to capture up to 85% of state income tax, state sales tax, and residential income tax increments, plus 100% of construction worker income tax increments, for up to 35 years to finance project costs

Removes several restrictions from the original MODESA program: development areas no longer limited to central business districts, no requirement to prove project couldn't be financed without incentives, and no office/retail displacement percentage caps

Expands eligible "economic activity taxes" to include personal property taxes, hotel/motel room taxes, license fees, and other assessments related to economic activity in the project area

Grants the Missouri Department of Economic Development 60 days to approve applications unless the project is determined contrary to state interests, with authority to issue temporary regulations exempt from standard rulemaking procedures for two years