HB 1028 -- Linked Deposit Loan Program

Sponsor:  Schoeller

This bill changes the laws regarding the Linked Deposit Loan
Program.  In its main provisions, the bill:

(1)  Expands the program to include eligible alternative energy
consumers and eligible governmental entities;

(2)  Revises the definition of "eligible job enhancement
business" to limit the amount of the linked deposit to not exceed
$50,000 per job created or retained plus the initial cost of the
physical expansion, renovation, or capital outlay when an
applicant can demonstrate the significant costs associated with
the physical expansion, renovation, or modernization of a
facility or equipment;

(3)  Increases from less than 25 to less than 100 the number of
employees a company can employ in order to be considered an
eligible small business; and

(4)  Specifies that the total amount of tax credits available for
qualified investments in Missouri small businesses cannot exceed
$30 million and at least $20 million of that amount must be for
the manufacture of alternative power generation equipment.
Currently, the total amount of tax credits cannot exceed $13
million.

Missouri House of Representatives
95th General Assembly, 1st Regular Session
Last Updated November 17, 2009 at 9:26 am