Bill > HB669

This bill creates a new tax credit program for eligible railroad-related businesses in Missouri, specifically targeting short line railroads (Class II or Class III), rail siding owners, port authorities, and city-owned railroads that make qualified railroad expenditures or new rail infrastructure investments. The tax credit allows these eligible taxpayers to claim a nonrefundable credit equal to 50% of their qualified expenditures, with specific caps: up to $5,000 per mile of railroad track for track expenditures, and up to $1 million per new rail-served customer project for new infrastructure. The program will begin on January 1, 2026, with an annual statewide limit of $4.5 million for track expenditures and $10 million for new infrastructure expenditures. Taxpayers can carry forward unused credits for up to five years and can transfer credits to other taxpayers subject to certain state taxes. 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 twelve-year extension upon reauthorization.

Business and Industry, Government Affairs

https://house.mo.gov/Bill.aspx?bill=HB669&year=2025&code=R