Economic Development Financial Incentives
Current status Signed by Governor; effective August 28, 2026
This bill expands several state economic-development incentive programs at once: it broadens and extends the Missouri Downtown and Rural Economic Stimulus Act (project length up to 30 years, wider eligibility), raises available Missouri Works tax credits for larger capital investments, creates "innovation zone" designations with streamlined permitting, and adds new tax credits for converting offices to housing, employer relocation, and angel investment, plus a new Missouri Opportunity Zone program. Most of the incentive programs are set to expire after 10 years unless renewed.
The fiscal note for the Truly Agreed To and Finally Passed version (L.R. 6321S.11T, dated July 1, 2026, covering "SS No.2 for SCS for HCS for HB Nos. 3231 & 2531") estimates General Revenue costs that could exceed $8,354,485 in FY2027 and could substantially exceed $59,644,895 in FY2028, $59,708,970 in FY2029, and $62,095,003 at full implementation (FY2034), tied to a $108 million/year statewide cap on the state supplemental downtown development fund plus CPI-adjustment and staffing (27 FTE) costs; local government impact is listed as $0/unknown to unknown.
Source: https://www.senate.mo.gov/FiscalNotes/2026-1/6321S.11T.ORG.pdf
Two earlier versions also exist (Senate Committee Substitute 6321S.06C.ORG, Senate Substitute 6321S.11F.ORG); this summary uses the final Truly Agreed To and Finally Passed version.
Not evident from this page's short title — surfaced by the fiscal note's official vehicle name ("SS No.2 for SCS for HCS for HB Nos. 3231 & 2531"). MO Bill Watch does not yet track HB 2531 as its own entity.
Source: https://www.senate.mo.gov/BillTracking/Bills/BillInformation?year=2026&billid=11672845
Tracked via the Senate's cross-chamber system; house.mo.gov's own bill-search tool 404'd at seed time.