Home > Missouri > SB1234
Tagged in: Business And Commerce, Economic Development, Economic Development, Department Of, Tax Credits, Taxation And Revenue - General

Search Advanced Search


LR number: 5349S.05C
Latest Update: Tuesday, May, 13th 2008

SS/SCS/SB's 1234 & 1270 - This act creates a new type of project under the enhanced enterprise zone tax benefit act known as mega-projects. A taxpayer who establishes a mega-project within an enhanced enterprise zone will be allowed an income tax credit equal to a percentage of the taxpayer's new annual payroll for employees located at the project. In order to be approved as a mega-project, the new capitol investment must be projected to exceed three hundred million dollars and the project must be projected to create at least one thousand new jobs over a period of eight years. The new jobs created must have an average wage in excess of the county average wage and the taxpayer must offer health insurance to all new jobs and pay at least half of the premiums for such insurance. The taxpayer must provide an acceptable plan for repayment of tax credits received. Prior to final approval of a mega-project, the department and the taxpayer must enter into a binding contract which: sets out the taxpayer's repayment plan; obligates the taxpayer to construct the facility; and provides specific internal rates of return.

The Department of Economic Development is prohibited from approving any mega-projects after December 31, 2008, and from issuing any tax credits prior to July 1, 2010. The Department of Economic Development is prohibited from issuing more than forty million dollars in tax credits for all mega-projects annually. A taxpayer who receives approval for a mega-project may receive tax credits for up to twenty-two years to be used to offset income tax liabilities. No taxpayer may receive more than forty million dollars in mega-project tax credits annually. Any taxpayer who receives mega-project tax credits must provide an annual report to the department of economic development containing the number of new jobs at the project site and the new annual payroll. A taxpayer who has been approved for issuance of mega-project tax credits will not receive tax credits in any year in which such taxpayer fails to meet eligibility requirements.

JASON ZAMKUS

Latest Actions

  • 05/13/2008 - S Informal Calendar S Bills for Perfection--SBs 1234 & 1270-Shields, with SCS & SS#2 for SCS (pending)
  • 05/12/2008 - S Informal Calendar S Bills for Perfection--SBs 1234 & 1270-Shields, with SCS & SS#2 for SCS (pending)
  • 05/06/2008 - S Informal Calendar S Bills for Perfection--SBs 1234 & 1270-Shields, with SCS & SS#2 for SCS (pending)
  • 05/05/2008 - S Informal Calendar S Bills for Perfection--SBs 1234 & 1270-Shields, with SCS & SS#2 for SCS (pending)
  • 05/01/2008 - S Informal Calendar S Bills for Perfection--SBs 1234 & 1270-Shields, with SCS & SS#2 for SCS (pending)
  • 04/30/2008 - S Informal Calendar S Bills for Perfection--SBs 1234 & 1270-Shields, with SCS & SS#2 for SCS (pending)
  • 04/29/2008 - S Informal Calendar S Bills for Perfection--SBs 1234 & 1270-Shields, with SCS & SS#2 for SCS (pending)
  • 04/28/2008 - S Informal Calendar S Bills for Perfection--SBs 1234 & 1270-Shields, with SCS & SS#2 for SCS (pending)
  • 04/24/2008 - S Informal Calendar S Bills for Perfection--SBs 1234 & 1270-Shields, with SCS & SS#2 for SCS (pending)
  • 04/23/2008 - S Informal Calendar S Bills for Perfection--SBs 1234 & 1270-Shields, with SCS & SS#2 for SCS (pending)
  • 04/22/2008 - S Informal Calendar S Bills for Perfection--SBs 1234 & 1270-Shields, with SCS & SS#2 for SCS (pending)
  • 04/21/2008 - S Informal Calendar S Bills for Perfection--SBs 1234 & 1270-Shields, with SCS & SS#2 for SCS (pending)
  • 04/17/2008 - S Informal Calendar S Bills for Perfection--SBs 1234 & 1270-Shields, with SCS & SS#2 for SCS (pending)
  • 04/16/2008 - S Informal Calendar S Bills for Perfection--SBs 1234 & 1270-Shields, with SCS & SS#2 for SCS (pending)
  • 04/15/2008 - SSA 1 for SA 3 to SS#2 for SCS S offered (Shields)--(5349S08.27S)
  • 04/15/2008 - SA 3 to SS#2 for SCS S withdrawn
  • 04/15/2008 - SA 4 to SS#2 for SCS S offered (Crowell)--(5349S08.27S)
  • 04/15/2008 - SSA 1 for SA 4 to SS#2 for SCS S offered (Crowell)
  • 04/15/2008 - SA 3 to SS#2 for SCS S offered (Crowell)--(5349S08.27S)
  • 04/15/2008 - SSA 1 for SA 3 to SS#2 for SCS S offered (Shields)--(5349S08.07S)
  • 04/15/2008 - SA 1 to SSA 1 for SA 3 S offered & withdrawn (Shields)--(5349S08.29S)
  • 04/15/2008 - SA 2 to SSA 1 for SA 3 S offered (Shields)--(5349S08.31S)
  • 04/15/2008 - SS for SCS S withdrawn
  • 04/15/2008 - SS#2 for SCS S offered (Shields)--(5349S.08F)
  • 04/15/2008 - SA 1 to SS#2 for SCS S offered (Callahan)--(5349S08.01F)
  • 04/15/2008 - SSA 1 for SA 1 to SS#2 for SCS S offered (Callahan)--(5349S08.02F)
  • 04/15/2008 - SA 1 to SSA 1 for SA 1 to SS#2 for SCS S offered & withdrawn (Callahan)--(5349S08.12S)
  • 04/15/2008 - SA 2 to SSA 1 for SA 1 to SS#2 for SCS S offered & withdrawn (Callahan)--(5349S08.15S)
  • 04/15/2008 - SA 3 to SSA 1 for SA 1 to SS#2 for SCS S offered & adopted (Callahan)--(5349S08.16S)
  • 04/15/2008 - SSA 1 for SA 1 to SS#2 for SCS, as amended, S adopted
  • 04/15/2008 - SA 2 to SS#2 for SCS S offered & withdrawn (Callahan)--(5349S08.03F)
  • 04/15/2008 - Bill Placed on Informal Calendar--SBs 1234 &1270-Shields, with SCS and SS#2 for SCS (pending)
  • 04/15/2008 - SA 3 to SS#2 for SCS S offered (Crowell)--(5349S08.07S)
  • 04/15/2008 - S Informal Calendar S Bills for Perfection--SBs 1234 & 1270-Shields, with SCS, SS for SCS & SA 5 (pending)
  • 04/15/2008 - SA 4 to SS#2 for SCS S offered & defeated (Crowell)--(5349S08.23S)
  • 04/15/2008 - Bill Placed on Informal Calendar
  • 04/15/2008 - SA 4 to SS#2 for SCS S offered (Crowell)--(5349S08.23S)
  • 04/14/2008 - S Informal Calendar S Bills for Perfection--SBs 1234 & 1270-Shields, with SCS, SS for SCS & SA 5 (pending)
  • 04/10/2008 - S Informal Calendar S Bills for Perfection--SBs 1234 & 1270-Shields, with SCS & SS for SCS (pending)
  • 04/10/2008 - SA 5 to SS for SCS S offered (Shields)--(5349S07.53S)
  • 04/10/2008 - Bill Placed on Informal Calendar
  • 04/09/2008 - SSA 1 for SA 2 to SS for SCS S offered & withdrawn (Shields)--(5349S07.01F)
  • 04/09/2008 - SA 2 to SS for SCS S withdrawn
  • 04/09/2008 - SA 3 to SS for SCS S offered (Green)--(5349S07.30S)
  • 04/09/2008 - SSA 1 for SA 3 to SS for SCS S offered & adopted (Green)--(5349S07.31S)
  • 04/09/2008 - SA 4 to SS for SCS S offered (Crowell)--(5349S07.48S)
  • 04/09/2008 - SA 1 to SA 4 to SS for SCS S offered & adopted (Koster)--(5349S07.49S)
  • 04/09/2008 - SA 2 to SA 4 to SS for SCS S offered & withdrawn (Callahan)--(5349S07.50S)
  • 04/09/2008 - SA 3 to SA 4 to SS for SCS S offered & adopted (Callahan)--(5349S07.51S)
  • 04/09/2008 - SA 4 to SS for SCS, as amended, S adopted
  • 04/09/2008 - SA 1 to SS for SCS S offered (Crowell)--(5349S07.14S)
  • 04/09/2008 - Bill Placed on Informal Calendar
  • 04/09/2008 - S Informal Calendar S Bills for Perfection--SBs 1234 & 1270-Shields, with SCS, SS for SCS & SA 1 (pending)
  • 04/09/2008 - SSA 1 for SA 2 to SS for SCS S offered (Shields)--(5349S07.01F)
  • 04/09/2008 - S Informal Calendar S Bills for Perfection--SBs 1234 & 1270-Shields, with SCS
  • 04/09/2008 - SS for SCS S offered (Shields)--(5349S.07F)
  • 04/09/2008 - SA 1 to SS for SCS S withdrawn
  • 04/09/2008 - SA 2 to SS for SCS S offered (Crowell)--(5349S.07F)
  • 04/08/2008 - S Informal Calendar S Bills for Perfection--SBs 1234 & 1270-Shields, with SCS
  • 04/07/2008 - S Informal Calendar S Bills for Perfection--SBs 1234 & 1270-Shields, with SCS
  • 04/03/2008 - S Informal Calendar S Bills for Perfection--SBs 1234 & 1270-Shields, with SCS
  • 04/02/2008 - S Informal Calendar S Bills for Perfection--SBs 1234 & 1270-Shields, with SCS
  • 04/01/2008 - S Formal Calendar S Bills for Perfection--SBs 1234 & 1270-Shields, with SCS
  • 04/01/2008 - Bill Placed on Informal Calendar
  • 04/01/2008 - S Informal Calendar S Bills for Perfection--SBs 1234 & 1270-Shields, with SCS
  • 03/31/2008 - S Formal Calendar S Bills for Perfection--SBs 1234 & 1270-Shields, with SCS
  • 03/27/2008 - SCS Voted Do Pass (w/SCS/SBs 1234 & 1270) S Economic Development, Tourism & Local Government Committee (5349S.04C)
  • 03/27/2008 - Reported from S Economic Development, Tourism & Local Government Committee to Floor w/SCS
  • 03/27/2008 - S Formal Calendar S Bills for Perfection--SBs 1234 & 1270-Shields, with SCS
  • 03/27/2008 - SCS Voted Do Pass (w/SCS/SBs 1234 & 1270) S Economic Development, Tourism & Local Government Committee (5349S.05C)
  • 03/26/2008 - Hearing Scheduled S Economic Development, Tourism & Local Government Committee
  • 03/26/2008 - Hearing Conducted S Economic Development, Tourism & Local Government Committee
  • 03/04/2008 - Re-referred S Economic Development, Tourism & Local Government Committee
  • 02/28/2008 - Second Read and Referred S Ways & Means Committee
  • 02/27/2008 - S First Read--SB 1234-Shields
Bill Summary
File name Last Updated
SB1234 Bill Summary Senate Substitute HTML04/11/2008
SB1234 Bill Summary Senate Committee Substitute HTML03/27/2008
SB1234 Bill Summary Introduced HTML02/27/2008

Bill Text
File name Last Updated
SB1234 Bill Text Senate Committee Substitute PDF03/27/2008
SB1234 Bill Text Introduced PDF02/27/2008

Fiscal Notes
File name Last Updated
SB1234 Fiscal Notes Senate Comm PDF03/31/2008
SB1234 Fiscal Notes Senate Comm HTML03/31/2008
SB1234 Fiscal Notes Introduced PDF03/12/2008
SB1234 Fiscal Notes Introduced HTML03/12/2008

User Comments
We need YOUR feedback! Be the first to post a comment!
Add Comment
Name (leave blank to remain annonymous)
No HTML. Comments are subject to approval. Minimum 50 characters.
Security Code - We must ask, are you human? If so, please enter the security code you see in the image.