Bill > HB820

This bill modifies the sunset dates for the Missouri Works Program, which is a state economic development initiative designed to provide tax credits and incentives to companies creating new jobs in Missouri. Specifically, the bill extends the program's reauthorization date from August 28, 2018, to August 28, 2025, and changes the program's expiration date from August 28, 2030, to August 28, 2037. The bill maintains the existing structure of the program, which allows qualified companies to receive tax credits and retain withholding taxes for creating new jobs, with provisions for annual reporting, job creation requirements, and minority employment efforts. The bill also includes provisions for how tax credits can be used, transferred, and applied, and requires the department to submit quarterly reports to the general assembly detailing the program's benefits and impact. Additionally, the bill preserves the program's existing rules about maximum annual tax credit amounts, verification of job creation, and other administrative details, essentially providing a seven-year extension of the Missouri Works Program's operational timeline.

https://house.mo.gov/Bill.aspx?bill=HB820&year=2025&code=R