HB 2425 -- Transportation and Warehouse Jobs Act

Sponsor:  Nolte

This bill establishes the Transportation and Warehouse Jobs Act
which authorizes a qualified transportation facility or qualified
warehouse to retain 50% of the withholding tax from retained jobs
for 10 years upon approval of a notice of intent by the
Department of Economic Development.

The qualified facility will be eligible for participation in the
Missouri Quality Jobs Program but may not simultaneously receive
tax credits or exemptions from the New or Expanded Business
Facility, Enterprise Zone, or Enhanced Enterprise Zone programs
or for relocating a business to a distressed community.  If the
facility also participates in the New Jobs Training Program, it
cannot retain withholding taxes that have already been allocated
for use in that program.  A taxpayer who receives these benefits
and knowingly hires individuals who are not allowed to work
legally in the United States will immediately forfeit these
benefits and must repay the state an amount equal to any
withholding taxes already retained.

If a facility fails to comply with all provisions of this
program, the department must issue a final decision to that
effect and the facility must repay all benefits previously
obtained from the state with an interest of 5% per year from the
date the benefit was originally received.

The department must provide an annual report prior to March 1 to
the General Assembly including the name and location of
participating facilities, the annual amount of benefits provided,
the estimated net state fiscal impact, and the number of new or
retained jobs.

A "qualified transportation facility" is defined as a business
that:

(1)  Derives more than 25% of its total sales revenues from goods
transported or distributed from the facility which are exported
outside of the United States or sold to the federal government
for export outside the United States or that derives more than
50% of all its total sales revenues from goods which are exported
outside the state of Missouri;

(2)  Makes an additional capital investment of at least $50,000
per full-time employee equivalent retained at the facility;

(3)  Transports or distributes a new product that has not been
transported or distributed in Missouri any time prior to the date
of the notice of intent;

(4)  Adds five or more employees at the facility; and

(5)  Continues to transport or distribute these types of goods
for at least five years from the date of the notice of intent.

A "qualified warehouse" is defined as a facility that:

(1)  Houses a new product that has not been housed in Missouri
any time prior to the date of the notice of intent;

(2)  Makes an additional capital investment of at least $50,000
per full-time employee equivalent retained at the facility; and

(3)  Adds five or more new jobs.

The provisions of the bill will expire six years from the
effective date.

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