Bill > HB3027

This bill, titled the Missouri Defense and Energy Independence Act, aims to bolster the state's capabilities in producing critical materials and pharmaceuticals by offering tax incentives and grants. It defines "critical materials" as metals or metal complexes essential for energy, defense, and consumer products with a high risk of supply chain disruption, and "critical pharmaceuticals" as vital drug ingredients or finished products crucial for national security or public health, also facing supply chain risks. The act establishes a new section, 620.1641, which allows the Department of Economic Development to award tax credits to "qualified companies" – defined as nontraditional defense contractors registered in Missouri – for "qualified project costs." These costs include expenses for constructing, expanding, or converting facilities and acquiring equipment for producing critical materials or pharmaceuticals. The tax credits can range from 20% to 25% of qualified project costs, depending on the investment amount, and are not refundable but can be carried forward for up to ten years or transferred to other entities. A cumulative limit of $40 million in tax credits can be authorized annually, with applications prioritized by submission date. To receive these credits, qualified companies must submit a notice of intent and enter into a written agreement detailing the types and amounts of critical materials or pharmaceuticals to be produced, projected investments, job creation, and other requirements. Additionally, the bill creates a "Grants for Independence from Foreign Influence Fund" to provide grants, administered by the Missouri Development Finance Board (MDFB), to qualified companies for qualified project costs, with individual grants capped at $500,000. The program is set to automatically sunset on December 31, 2036, unless reauthorized by the general assembly.

https://house.mo.gov/Bill.aspx?bill=HB3027&year=2026&code=R