The proposed bill seeks to amend chapter 260 of the Revised Statutes of Missouri by introducing fourteen new sections that focus on enhancing energy infrastructure projects. It establishes the Missouri Energy Infrastructure Bank and the Missouri Energy Infrastructure Fund, which will provide financial assistance for eligible projects, particularly those approved by the Environmental Improvement and Energy Resources Authority (EIERA) and aimed at economic development in rural areas. The bill defines key terms, outlines the authority's powers to offer loans and contracts, and sets guidelines for fund distribution, ensuring that no single electric provider receives more than 40% of the funds in a year unless a joint application is submitted. Additionally, it mandates that at least 40% of the funds be reserved for rural projects, with provisions for reallocating unclaimed funds. Moreover, the bill introduces a structured application process for financial assistance, requiring detailed project summaries and job creation forecasts from electric providers. It establishes the "Strategic Energy Infrastructure Development Fund" within the state treasury, dedicated to infrastructure improvements and ensuring that unspent funds do not revert to the general revenue fund. The authority is empowered to issue bonds for financing eligible projects, with a cap of one billion dollars, and these bonds will be exempt from taxation. The bill also allows for joint applications from electric providers and economic development prospects, mandates annual reporting on fund activities, and emphasizes the authority's limited liability while outlining conditions for enforcing contractual obligations related to funding.

Statutes affected:
Introduced (5548H.01): 260.130, 260.133, 260.136, 260.139, 260.142, 260.145, 260.148, 260.151, 260.154, 260.157, 260.160, 260.163, 260.166, 260.169