FIRSTREGULARSESSION
HOUSEBILLNO.755
103RDGENERALASSEMBLY
INTRODUCEDBYREPRESENTATIVEOEHLERKING.
1961H.02I DANARADEMANMILLER,ChiefClerk
ANACT
Torepealsection135.800,RSMo,andtoenactinlieuthereoftwonewsectionsrelatingto
advancedmanufacturingrecruitment.
BeitenactedbytheGeneralAssemblyofthestateofMissouri,asfollows:
SectionA.Section135.800,RSMo,isrepealedandtwonewsectionsenactedinlieu
2thereof,tobeknownassections135.800and620.1920,toreadasfollows:
135.800.1.Theprovisionsofsections135.800to135.830shallbeknownandmay
2becitedasthe"TaxCreditAccountabilityActof2004".
3 2.Asusedinsections135.800to135.830,thefollowingtermsmean:
4 (1)"Administeringagency",thestateagencyordepartmentchargedwith
5administeringaparticulartaxcreditprogram,assetforthbytheprogram'senacting
6statute;wherenodepartmentoragencyissetforth,thedepartmentofrevenue;
7 (2)"Agriculturaltaxcredits",theagriculturalproductutilizationcontributortaxcredit
8createdpursuanttosection348.430,thenewgenerationcooperativeincentivetaxcredit
9createdpursuanttosection348.432,thefamilyfarmbreedinglivestockloantaxcreditcreated
10undersection348.505,thequalifiedbeeftaxcreditcreatedundersection135.679,andthe
11wineandgrapeproductiontaxcreditcreatedpursuanttosection135.700;
12 (3)"Businessrecruitmenttaxcredits",thebusinessfacilitytaxcreditcreatedpursuant
13tosections135.110to135.150andsection135.258,theenterprisezonetaxbenefitscreated
14pursuanttosections135.200to135.270,thebusinessuseincentivesforlarge-scale
15developmentprogramscreatedpursuanttosections100.700to100.850,thedevelopmenttax
16creditscreatedpursuanttosections32.100to32.125,therebuildingcommunitiestaxcredit
17createdpursuanttosection135.535,thefilmproductiontaxcreditcreatedpursuanttosection
EXPLANATION—Matterenclosedinbold-facedbrackets[thus] intheabovebillisnotenactedandis
intendedtobeomittedfromthelaw.Matterinbold-facetypeintheabovebillisproposedlanguage. 18135.750,theenhancedenterprisezonecreatedpursuanttosections135.950to135.970,[and]
19theMissouriqualityjobsprogramcreatedpursuanttosections620.1875to620.1900, andthe
20Missouriadvancedmanufacturingrecruitmentacttaxcreditcreatedpursuantto
21section620.1920;
22 (4)"Communitydevelopmenttaxcredits",theneighborhoodassistancetaxcredit
23createdpursuanttosections32.100to32.125,thefamilydevelopmentaccounttaxcredit
24createdpursuanttosections208.750to208.775,thedryfirehydranttaxcreditcreated
25pursuanttosection320.093,andthetransportationdevelopmenttaxcreditcreatedpursuantto
26section135.545;
27 (5)"Domesticandsocialtaxcredits",theyouthopportunitiestaxcreditcreated
28pursuanttosection135.460andsections620.1100to620.1103,theshelterforvictimsof
29domesticviolencecreatedpursuanttosection135.550,theseniorcitizenordisabledperson
30propertytaxcreditcreatedpursuanttosections135.010to135.035,theadoptiontaxcredit
31createdpursuanttosections135.325to135.339,thechampionforchildrentaxcreditcreated
32pursuanttosection135.341,thematernityhometaxcreditcreatedpursuanttosection
33135.600,thesurvivingspousetaxcreditcreatedpursuanttosection135.090,theresidential
34treatmentagencytaxcreditcreatedpursuanttosection135.1150,thepregnancyresource
35centertaxcreditcreatedpursuanttosection135.630,thefoodpantrytaxcreditcreated
36pursuanttosection135.647,theresidentialdwellingaccesstaxcreditcreatedpursuantto
37section135.562,thedevelopmentaldisabilitycareprovidertaxcreditcreatedundersection
38135.1180,thesharedcaretaxcreditcreatedpursuanttosection192.2015,thehealth,hunger,
39andhygienetaxcreditcreatedpursuanttosection135.1125,andthediaperbanktaxcredit
40createdpursuanttosection135.621;
41 (6)"Entrepreneurialtaxcredits",thecapitaltaxcreditcreatedpursuanttosections
42135.400to135.429,thecertifiedcapitalcompanytaxcreditcreatedpursuanttosections
43135.500to135.529,theseedcapitaltaxcreditcreatedpursuanttosections348.300to
44348.318,thenewenterprisecreationtaxcreditcreatedpursuanttosections620.635to
45620.653,theresearchtaxcreditcreatedpursuanttosection620.1039,thesmallbusiness
46incubatortaxcreditcreatedpursuanttosection620.495,theguaranteefeetaxcreditcreated
47pursuanttosection135.766,andthenewgenerationcooperativetaxcreditcreatedpursuantto
48sections32.105to32.125;
49 (7)"Environmentaltaxcredits",thecharcoalproducertaxcreditcreatedpursuantto
50section135.313,thewoodenergytaxcreditcreatedpursuanttosections135.300to135.311,
51andthealternativefuelstationstaxcreditcreatedpursuanttosection135.710;
52 (8)"Financialandinsurancetaxcredits",thebankfranchisetaxcreditcreated
53pursuanttosection148.030,thebanktaxcreditforScorporationscreatedpursuanttosection
54143.471,theexamfeetaxcreditcreatedpursuanttosection148.400,thehealthinsurance
HB755 2 55pooltaxcreditcreatedpursuanttosection376.975,thelifeandhealthinsuranceguarantytax
56creditcreatedpursuanttosection376.745,thepropertyandcasualtyguarantytaxcredit
57createdpursuanttosection375.774,andtheself-employedhealthinsurancetaxcreditcreated
58pursuanttosection143.119;
59 (9)"Housingtaxcredits",theneighborhoodpreservationtaxcreditcreatedpursuant
60tosections135.475to135.487,thelow-incomehousingtaxcreditcreatedpursuantto
61sections135.350to135.363,andtheaffordablehousingtaxcreditcreatedpursuantto
62sections32.105to32.125;
63 (10)"Recipient",theindividualorentitywhoboth:
64 (a)Istheoriginalapplicantforataxcredit;and
65 (b)Whodirectlyreceivesataxcreditortherighttotransferataxcreditunderatax
66creditprogram,regardlessastowhetherthetaxcredithasbeenusedorredeemed;arecipient
67shallnotincludethetransfereeofatransferabletaxcredit;
68 (11)"Redevelopmenttaxcredits",thehistoricpreservationtaxcreditcreatedpursuant
69tosections253.545to253.559,thebrownfieldredevelopmentprogramtaxcreditcreated
70pursuanttosections447.700to447.718,thecommunitydevelopmentcorporationstaxcredit
71createdpursuanttosections135.400to135.430,theinfrastructuretaxcreditcreatedpursuant
72tosubsection6ofsection100.286,thebondguaranteetaxcreditcreatedpursuanttosection
73100.297,thedisabledaccesstaxcreditcreatedpursuanttosection135.490,thenewmarkets
74taxcreditcreatedpursuanttosection135.680,andthedistressedareaslandassemblagetax
75creditcreatedpursuanttosection99.1205;
76 (12)"Taxcreditprogram",anyofthetaxcreditprogramsincludedinthedefinitions
77ofagriculturaltaxcredits,businessrecruitmenttaxcredits,communitydevelopmenttax
78credits,domesticandsocialtaxcredits,entrepreneurialtaxcredits,environmentaltaxcredits,
79housingtaxcredits,redevelopmenttaxcredits,andtrainingandeducationaltaxcredits;
80 (13)"Trainingandeducationaltaxcredits",theMissouriworksnewjobstaxcredit
81andMissouriworksretainedjobscreditcreatedpursuanttosections620.800to620.809.
620.1920.1.Thissectionshallbeknownandmaybecitedasthe"Missouri
2AdvancedManufacturingRecruitmentAct".
3 2.Asusedinthissection,thefollowingtermsmean:
4 (1)"Baseemployment",thenumberofqualifiedfull-timeMissouritaxpayers
5employedbythequalifiedmanufacturingcompanyforthetwelve-monthperiodpriorto
6thedateofnoticeofintent;
7 (2)"Department",theMissouridepartmentofeconomicdevelopment;
8 (3)"NAICS"or"NAICSindustryclassification",theclassificationprovidedby
9themostrecenteditionoftheNorthAmericanIndustryClassificationSystemas
10preparedbytheExecutiveOfficeofthePresident,OfficeofManagementandBudget;
HB755 3 11 (4)"Newjobs",thenumberofqualifiedfull-timeMissouritaxpayersemployed
12bythequalifiedmanufacturingcompanylesstheprojectfacility'sbaseemployment;
13 (5)"Noticeofintent",aformdevelopedbythedepartmentandavailableonline,
14completedbythequalifiedcompany,andsubmittedtothedepartmentstatingthe
15qualifiedcompany'sintenttorequestbenefitsunderthisprogram;
16 (6)"Program",theMissouriadvancedmanufacturingrecruitmentprogram;
17 (7)"Projectfacility",thebuildingorbuildingsusedbyaqualified
18manufacturingcompanyatwhichneworretainedjobsandanynewqualified
19manufacturingcapitalinvestmentareorwillbelocatedorbyaqualifiedmanufacturing
20companyatwhichaqualifiedmanufacturingcapitalinvestmentisorwillbelocated.A
21projectfacilitymayincludeseparatebuildingssuchthattheirpurposeandoperations
22areinterrelated.Uponapprovalbythedepartment,asubsequentprojectfacilitymay
23bedesignatedifthequalifiedmanufacturingcompanydemonstratesaneedtorelocate
24tothesubsequentprojectfacilityatanytimeduringtheprojectperiod;
25 (8)"Projectperiod",thetimeperiodwithinwhichbenefitsareawardedtoa
26qualifiedmanufacturingcompanyorwithinwhichthequalifiedmanufacturing
27companyisobligatedtoperformunderanagreementwiththedepartment,
28whicheverisgreater;
29 (9)"Qualifiedfull-timeMissouritaxpayer",anyindividualemployedbythe
30qualifiedmanufacturingcompanywhoisscheduledtoworkanaverageofatleast
31thirty-fivehoursperweekforatwelve-monthperiodandwhosetotalannualincome
32fromthecompanyisequaltoorabovethecountyaveragewageandwhosewagesare
33subjecttothetaxesimposedbychapter143;
34 (10)"Qualifiedmanufacturingcapitalinvestment",anexpenditureonproperty
35inthisstate,depreciableunderInternalRevenueCode,26U.S.C.Section168,thathas
36beenverifiedbythedepartment;
37 (11)"Qualifiedmanufacturingcompany",afirm,partnership,jointventure,
38association,orprivateorpubliccorporationwhetherorganizedforprofitornotfor
39profitregisteredtodobusinessinMissourithatistheowneroroperatorofaproject
40facilitycompanythatisclassifiedbythemanufacturingNAICScodes31-33;
41 (12)"Taxcredit",taxcreditsissuedbythedepartmenttooffsetthestatetaxes
42imposedbychapters143and148,excludingwithholdingtaxundersections143.191to
43143.265,orthatmaybesoldasprovidedforinthisprogram.
44 3.ForalltaxyearsbeginningonorafterJanuary1,2026,aqualified
45manufacturingcompanymay,foraperiodoffiveyears,beallowedataxcreditofupto
46twentypercentofaqualifiedmanufacturingcapitalinvestmentifthequalified
47manufacturingcompany:
HB755 4 48 (1)Makesatleastonebilliondollarsofaqualifiedmanufacturingcapital
49investment;and
50 (2)Createsfivehundredormorenewjobs,onehundredfiftyofwhichshallbe
51reservedforfull-timeresidentsofMissouriatthetimeofhiring.
52 4.Thetotalamountoftaxcreditsissuedannuallyunderthissectionshallnot
53exceedtwohundredmilliondollarsperfiscalyear.
54 5.Thedepartmentshallawardtaxcreditstoaqualifiedmanufacturing
55companythatsatisfiesthequalifiedmanufacturingcapitalinvestmentrequirementin
56fourseparateinstallmentsofequalvalue,equivalenttoone-fourthofthetotalagreed-
57uponvalueofawardedincentive:
58 (1)Attwenty-fivepercentoftheagreed-uponqualifiedmanufacturingcapital
59investment;
60 (2)Atfiftypercentoftheagreed-uponqualifiedmanufacturingcapital
61investment;
62 (3)Atseventy-fivepercentoftheagreed-uponqualifiedmanufacturingcapital
63investment;and
64 (4)Atonehundredpercentoftheagreed-uponqualifiedmanufacturingcapital
65investment.
66 6.Tobeeligibleforconsiderationforthetaxcreditunderthissection,aqualified
67manufacturingcompanyshallsubmitanapplicationanddocumentationtothe
68department,asrequiredbythedepartment,outliningaqualifiedmanufacturing
69capitalinvestmentplantotalingnolessthanonebilliondollars.
70 7.Inordertoreceivebenefitsunderthissection,aqualifiedmanufacturing
71companyshallenterintowrittenagreementwiththedepartmentcontainingdetailed
72performancerequirementsandrepaymentpenaltiesintheeventofnonperformance.
73Uponapprovalofanoticeofintenttorequestbenefitsunderthissection,the
74departmentandthequalifiedmanufacturingcompanyshallenterintoawritten
75agreementcoveringtheapplicableperiod.Theagreementshallspecify,ataminimum:
76 (1)Thecommittednumberofretainedjobs,payroll,andnewqualified
77manufacturingcapitalinvestmentforeachyearduringtheprojectperiod;
78 (2)Clawbackprovisions,asmayberequiredbythedepartment;and
79 (3)Anyotherprovisionsthedepartmentmayrequire.
80 8.Theamountoftaxcreditsawardedtoaqualifiedmanufacturingcompany
81underthissectionshallnotexceedtheminimalamountnecessarytoobtainthequalified
82manufacturingcompany'scommitmenttoinitiatetheproject.Indeterminingthe
83amountoftaxcreditstoawardtoaqualifiedcompany,thedepartmentshallconsider
84thefollowingfactors:
HB755 5 85 (1)Thesignificanceofthequalifiedmanufacturingcompany'sneedforprogram
86benefits;
87 (2)Theamountofprojectedeconomicimpacttothestateoftheprojectandthe
88periodinwhichthestatewouldrealizesuchnetfiscalbenefit;
89 (3)Theoverallsizeandqualityoftheproposedproject,includingthenumberof
90newjobs,newqualifiedmanufacturingcapitalinvestment,proposedwages,growth
91potentialofthequalifiedmanufacturingcompany,thepotentialmultipliereffectofthe
92project,andsimilarfactors;
93 (4)Thefinancialstabilityandcreditworthinessofthequalifiedmanufacturing
94company;
95 (5)Thelevelofeconomicdistressinthearea;and
96 (6)Anevaluationofthecompetitivenessofalternativelocationsfortheproject
97facility,asapplicable.
98 9.Oncethecompanyanddepartmentagreeontaxcredits,thequalified
99manufacturingcompanyhasthreeyearsfromthedateofdepartmentapprovaltomeet
100twenty-fivepercentofaqualifiedmanufacturingcapitalinvestment.Oncethetwenty-
101fivepercentthresholdofthequalifiedmanufacturingcapitalinvestmentismet,a
102qualifiedmanufacturingcompanyhasfiveyearstoreceivethefullagreed-upontax
103credits.Ifaqualifiedmanufacturingcompanydoesnotmeetthetwenty-fivepercent
104thresholdbyyearthreeaftertheagreement,theagreementshallbedeemedvoid.A
105qualifiedmanufacturingcompanymayreapplyatanytime.Aqualifiedmanufacturing
106companyshallnotbeentitledtothefullagreed-upontaxcreditsunlesstheagreed-upon
107qualifiedmanufacturingcapitalinvestmentthresholdismetinthetimeperioddefined
108inthissection.Aqualifiedmanufacturingcompanythatdoesnotmeetthefullagreed-
109uponqualifiedmanufacturingcapitalinvestmentthresholdmayapplyfortheprogram
110againifthequalifiedmanufacturingcompanymeetstherequirementsofthissection.
111 10.Aqualifiedmanufacturingcompanyreceivingbenefitsunderthisprogram
112shallprovideanannualreportofthenumberofjobsandsuchotherinformationasmay
113berequiredbythedepartmenttodocumentthebasisforprogrambenefitsavailableno
114laterthanninetydayspriortotheendofthequalifiedmanufacturingcompany'stax
115yearimmediatelyfollowingthetaxyearforwhichthebenefitsprovidedunderthe
116programareattributed.
117 11.Taxcreditsprovidedunderthisprogrammaybeclaimedagainsttaxes
118otherwiseimposedbychapters143and148butshallbeclaimedwithinoneyearofthe
119closeofthetaxyearforwhichtheywereissued.Taxcreditsprovidedunderthis
120programmaybetransferred,sold,orassignedbyfilinganotarizedendorsementthereof
121withthedepartmentthatnamesthetransferee,theamountoftaxcreditstransferred,
HB755 6 122andthevaluereceivedforthecredits,aswellasanyotherinformationreasonably
123requestedbythedepartment.Foraqualifiedmanufacturingcompanywithflow-
124throughtaxtreatmenttoitsmembers,partners,orshareholders,thetaxcreditshallbe
125allowedtomembers,partners,orshareholdersinproportiontotheirshareofownership
126onthelastdayofthequalifiedcompany'staxperiodforwhichthetaxcreditswere
127issued.
128 12.Priortotheissuanceoftaxcredits,thedepartmentshallverifythroughthe
129departmentofrevenue,andanyotherapplicablestatedepartment,thatthetaxcredit
130applicantdoesnotoweanydelinquentincome,sales,orusetaxorinterestorpenalties
131onsuchtaxes,oranydelinquentfeesorassessmentsleviedbyanystatedepartmentand
132throughthedepartmentofcommerceandinsurancethattheapplicantdoesnotoweany
133delinquentinsurancetaxesorotherfees.Suchdelinquencyshallnotaffecttheapproval,
134exceptthatanytaxcreditsissuedshallbefirstappliedtothedelinquencyandany
135amountissuedshallbereducedbytheapplicant'staxdelinquency.Ifthedepartmentof
136revenue,thedepartmentofcommerceandinsurance,oranyotherstatedepartment
137concludesthatataxpayerisdelinquentafterJunefifteenthbutbeforeJulyfirstofany
138yearandtheapplicationoftaxcreditstosuchdelinquencycausesataxdeficiencyon
139behalfofthetaxpayertoarise,thetaxpayershallbegrantedthirtydaystosatisfythe
140deficiencyinwhichinterest,penalties,andadditionstothetaxshallbetolled.After
141applyingallavailablecreditstowardataxdelinquency,theadministeringagencyshall
142notifytheappropriatedepartmentandthatdepartmentshallupdatetheamountof
143outstandingdelinquenttaxowedbytheapplicant.Ifanycreditsremainaftersatisfying
144allinsurance,income,sales,andusetaxdelinquencies,theremainingcreditsshallbe
145issuedtotheapplicant,subjecttotherestrictionsofotherprovisionsoflaw.
146Notwithstandingsection32.057andanystatetaxconfidentialitylawtothecontrary,
147thedepartmentofrevenueandanyotherapplicablestatedepartmentmaydiscloseany
148taxinformationtothedepartmentconcerningaqualifiedmanufacturingcompanythat
149isapplyingforthistaxcreditforpurposesofadministeringthistaxcredit.
150 13.Thedirectorofrevenueshallissuearefundtothequalifiedmanufacturing
151companytotheextentthattheamountoftaxcreditsallowedunderthisprogram
152exceedstheamountofthequalifiedcompany'staxliability,ifany,underbothchapters
153143and148.
154 14.Anyqualifiedmanufacturingcompanyapprovedforbenefitsunderthis
155programshallprovidetothedepartment,uponrequest,anyandallinformationand
156recordsreasonablyrequiredtomonitorcompliancewithprogramrequirements.
157 15.BeforeJanuary1,2027,andthefirstdayofeachcalendarquarterthereafter,
158thedepartmentshallpresentaquarterlyreporttothegeneralassemblydetailingthe
HB755 7 159benefitsauthorizedunderthisprogramduringtheimmediatelyprecedingcalendar
160quartertotheextentsuchinformationmaybedisclosedunderstateandfederallaw.
161Thereportshallinclude,butnotbelimitedto:
162 (1)Alistofallapprovedanddisapprovedapplicantsforeachtaxcredit;
163 (2)Alistoftheaggregateamountofneworretainedjobsthataredirectly
164attributabletothetaxcreditsauthorized;
165 (3)Astatementoftheaggregateamountofnewcapitalinvestmentdirectly
166attributabletothetaxcreditsauthorized;
167 (4)Documentationoftheestimatedeconomicimpactforeachauthorizedproject
168and,totheextentavailable,theactualbenefitrealizeduponcompletionofsuchproject
169oractivity;and
170 (5)Thedepartment'sresponsetimeforeachrequestforaproposedbenefit
171awardunderthisprogram.
172 16.Thisprogramshallbeconsideredabusinessrecruitmenttaxcreditunder
173subdivision(2)ofsubsection2ofsection135.800,andanyqualifiedmanufacturing
174companyapprovedforbenefitsunderthisprogramshallbesubjecttotheprovisionsof
175sections135.800to135.830.
176 17.Forqualifiedmanufacturingcompaniesownedbyentitiesdomiciledinthe
177UnitedStatesthatarerelocatingorreshoringmanufacturingcapacityfromthePeople's
178RepublicofChinaoranycountrydesignatedasaforeignadversaryin15CFR7.4toa
179projectfacilityinMissouri,thedepartmentshallestablishanexpeditedapproval
180process.Applicationsfromsuchcompaniesshallbegivenpriorityinthereviewprocess
181overapplicationsfromotherwisequalifiedmanufacturingcompanies.Thedepartment
182shallmakeadeterminationonapplicationsfromqualifiedmanufacturingcompanies
183ownedbyentitiesdomiciledintheUnitedStatesthatarerelocatingorreshoring
184manufacturingcapacityfromthePeople'sRepublicofChinaoradesignatedforeign
185adversarywithinsixtydaysofreceivingacompleteapplication.Thedirectorofthe
186departmentshallestablishpoliciesandprocedurestoimplementtheexpeditedapproval
187processandensurepriorityconsiderationforapplicationsfromsuchcompanies.
188 18.Thedepartmentofeconomicdevelopmentmaypromulgateallnecessary
189rulesandregulationsfortheadministrationofthissection.Anyruleorportionofa
190rule,asthattermisdefinedinsection536.010,thatiscreatedundertheauthority
191delegatedinthissectionshallbecomeeffectiveonlyifitcomplieswithandissubjectto
192alloftheprovisionsofchapter536and,ifapplicable,section536.028.Thissectionand
193chapter536arenonseverableandifanyofthepowersvestedwiththegeneralassembly
194pursuanttochapter536toreview,todelaytheeffectivedate,ortodisapproveandannul
HB755 8 195arulearesubsequentlyheldunconstitutional,thenthegrantofrulemakingauthority
196andanyruleproposedoradoptedafterAugust28,2025,shallbeinvalidandvoid.
197 19.Undersection23.253oftheMissourisunsetact:
198 (1)Theprovisionsofthenewprogramauthorizedunderthissectionshall
199automaticallysunsetonDecemberthirty-first,tenyearsaftertheeffectivedateofthis
200section,unlessreauthorizedbyanactofthegeneralassembly;
201 (2)Ifsuchprogramisreauthorized,theprogramauthorizedunderthissection
202shallautomaticallysunsetonDecemberthirty-first,tenyearsaftertheeffectivedateof
203thereauthorizationofthissection;
204 (3)ThissectionshallterminateonSeptemberfirstofthecalendaryear
205immediatelyfollowingthecalendaryearinwhichtheprogramauthorizedunderthis
206sectionissunset;and
207 (4)Nothinginthissubsectionshallpreventataxpayerfromclaimingataxcredit
208properlyissuedbeforethisprogramwassunsetinataxyearaftertheprogramissunset.
âś”
HB755 9