Establishes the "Protecting Missouri's Small Businesses Act", which changes the law regarding businesses closed because of a shutdown order
If enacted, this bill will amend existing statutes to formally recognize the economic challenges posed by shutdown orders. Starting January 1, 2025, businesses required to shut down under governmental orders for more than 21 consecutive days or 45 cumulative days would benefit from a waiver of business license fees and a recalibration of their property tax liabilities. The legislation seeks to ensure that municipalities are held accountable for the economic impacts of their shutdown orders, thereby promoting a more balanced relationship between governmental actions and their repercussions on local economies.
House Bill 2796, known as the 'Protecting Missouri's Small Businesses Act', focuses on providing relief to businesses negatively impacted by government-imposed shutdown orders. It establishes provisions that aim to alleviate some of the economic burdens faced by these businesses due to unforeseen circumstances outside their control. The bill outlines specific measures such as the waiver of business license fees during shutdown periods and adjustments to property tax liabilities based on the duration of the shutdown. This act is intended to support the viability and well-being of local businesses and the economy at large in Missouri.
The main points of contention surrounding HB2796 relate to the implications of waiving fees and adjusting tax liabilities. Proponents argue that such measures are crucial for sustaining small businesses during unexpected shutdowns and that they reflect a state commitment to businesses' welfare. Conversely, opponents might raise concerns regarding potential revenue losses for local governments, which rely on these fees and taxes for essential services. The debate centers on finding a balance between necessary public health measures and the economic health of small businesses within the state.