Bill > SB1461

This bill establishes a tax credit program for railroad infrastructure investments in Missouri, effective from January 1, 2027. The bill creates a tax credit for eligible taxpayers, which include short line railroads (Class II or Class III) and owners or lessees of rail sidings, who make qualified railroad track expenditures or new rail infrastructure expenditures. The tax credit is equal to 50% of these expenditures, with specific caps: up to $5,000 per mile of railroad track for track expenditures and up to $1 million for each new rail-served customer project. The program has an annual cap of $4.5 million for track expenditures and $5 million for new infrastructure expenditures, with credits awarded on a first-come, first-served basis. Unused credits can be carried forward for up to five years, and credits can be transferred to other eligible customers, vendors, or taxpayers. The Missouri Department of Economic Development will oversee the program, issue eligibility certificates, and prepare annual reports. The tax credit program will automatically sunset after six years unless reauthorized by the state legislature, with a potential maximum duration of twelve years.

Labor and Employment

https://www.senate.mo.gov/26info/BTS_Web/Bill.aspx?SessionType=R&BillID=33659