Bill > SB1425

This bill modifies tax credit provisions for new business facilities, specifically changing the end date for headquarters receiving certain tax incentives from January 1, 2031, to January 1, 2041. The bill clarifies that expansions at headquarters facilities will be considered separate new business facilities and eligible for tax credits if they meet specific criteria: each expansion must create at least 25 new jobs and involve an investment of at least one million dollars. Additionally, the bill stipulates that when a new business facility is not created in a given year, the jobs and investment for that year will be calculated as part of the credits for the most recently created facility. The bill also introduces a provision that allows buildings on multiple noncontiguous properties within the same county or municipality to be considered a single facility for tax credit purposes. These changes aim to provide more flexibility and extended opportunities for businesses to receive tax incentives for facility expansions and developments.

Labor and Employment

https://www.senate.mo.gov/26info/BTS_Web/Bill.aspx?SessionType=R&BillID=10335