Bill > HB2214

This bill modifies tax incentives for qualified companies in Missouri to promote industrial manufacturing and infrastructure projects by creating new provisions for tax credits and withholding tax retention. The bill allows qualifying companies to retain a portion of withholding taxes for new jobs created, with the amount depending on factors such as the number of jobs created, average wage levels, and location of the project facility. Companies can receive tax credits for creating new jobs, with potential benefits varying based on job creation, wage levels, and capital investment. The bill establishes different tiers of benefits for companies creating jobs in various scenarios, including rural areas and zones designated for industrial development. For manufacturing companies making significant capital investments (at least $500 million), the bill provides additional tax credit opportunities, with a maximum of $5 million per calendar year per company and an aggregate limit of $10 million annually. The legislation includes provisions for reporting, compliance, and verification of job creation and wage requirements, and sets annual limits on the total amount of tax credits that can be authorized. The bill also includes sunset provisions, with the program set to be reauthorized and expire on specific dates, ensuring periodic review of the economic development incentives.

https://house.mo.gov/Bill.aspx?bill=HB2214&year=2026&code=R