Bill > SB462

This bill establishes a tax credit program for railroad infrastructure investments in Missouri, aimed at supporting short line and Class II or III railroads, as well as rail siding and industrial track owners. The bill allows eligible taxpayers to claim a nonrefundable tax credit for qualified railroad track expenditures or new rail infrastructure expenditures, with credits capped at 50% of these expenses. Specifically, the tax credit is limited to $5,000 multiplied by the number of miles of railroad track owned or leased, with a maximum of $1 million per new rail-served customer project. The program will begin on January 1, 2026, with annual credit limits of $4.5 million for track expenditures and $5 million for new rail infrastructure. Taxpayers can transfer these credits to other eligible customers or vendors, and unused credits can be carried forward for up to five subsequent tax years. The Missouri Department of Economic Development will oversee the program, issue eligibility certificates, and prepare annual reports. The tax credit program is set to automatically sunset after six years unless reauthorized by the state legislature, with provisions for potential extension and detailed rules for implementation and administration.

Labor and Employment

https://www.senate.mo.gov/25info/BTS_Web/Bill.aspx?SessionType=R&BillID=23142