ECONOMIC DEVELOPMENT BILLS PASSED

Friday, May 16: Thanks to the strong leadership of Rep. David Pearce and Sen. Harry Kennedy, and the support of many others, we are pleased to announce BOTH omnibus economic development bills passed the legislature and are on their way to the Governor.

Combined with the previously passed mega projects legislation, the Missouri Economic Development Council had an extremely successful legislative session. Despite the fact this was an election year and expectations were initially very low, we were able to accomplish an increase in the Quality Jobs tax credit limit of $20 million from $40 million to $60 million, an increase in the Enhanced Enterprise Zones tax credit limit of $10 million from $14 million to $24 million, made permanent an increase in the Development Tax Credit at $6 million, and several other items.

We will sift through the language of the finally passed bills and issue a more thorough report in the very near future. Until then, please thank your legislators for their votes of support for HB 2058 and SB 718. I would also like to thank you for your participation in the legislative process as it was your phone calls, emails and personal contacts that helped us get this legislation passed.

Ray McCarty
MEDC Legislative Consultant