MO SB1694

Creates the "Missouri Downtown Economic Stimulus Act Extension Act" to extend MODESA incentives for development projects approved prior to January 1, 2013, allowing new "expanded development projects" by those original developers

Extends the maximum term for obligations and payments in lieu of taxes from the original period to 35 years for both existing development projects and new expanded development projects

Allows up to 85% of state income tax and sales tax increments from expanded development project areas to be captured for project costs, plus 100% of payments in lieu of taxes and 100% of construction worker income taxes during construction

Removes several original MODESA restrictions: development areas no longer limited to central business districts, can include noncontiguous areas, and applicants need not demonstrate inability to finance without state incentives

Establishes new residential income tax increment capturing 85% of estimated income tax from residents living within development project areas, with disbursements lasting up to 35 years