HB 1684 -- Missouri Business First Act

Sponsor:  Zerr

This bill establishes the Missouri Business First Act which
allows the Director of the Department of Economic Development,
upon a finding of economic benefit to the state, to authorize an
increase in the amount of a tax credit, withholding retention, or
other economic benefit by up to an additional 10% for certain
Missouri business expansion.

Eligible businesses are those with employees and a physical
presence in Missouri that has been operating in Missouri for at
least five years prior to applying for any tax credit,
withholding retention, or other economic benefit.

The programs which the department director can increase benefits
include:

(1)  The withholding tax percentage authorized under an approved
State Tax Increment Finance Plan under Section 99.845, RSMo;

(2)  The rebuilding communities tax credit authorized under
Section 135.481;

(3)  The qualified beef tax credit authorized under Section
135.679;

(4)  The enhanced enterprise zone tax credit authorized under
Section 135.967;

(5)  The retained jobs training tax credit or withholding tax
retention authorized under Section 178.762;

(6)  The new jobs training tax credit or withholding tax
retention authorized under Section 178.894;

(7)  The New Generation Cooperative Tax Credit Program authorized
under Section 348.432;

(8)  The customized industry training and retraining assistance
benefit authorized under Section 620.472; or

(9)  The quality jobs tax credit or withholding tax retention
authorized under Section 620.1881.

Missouri House of Representatives
95th General Assembly, 2nd Regular Session
Last Updated September 14, 2010 at 3:11 pm