JEFFERSON CITY, Mo. (AP) - Missouri House members have approved legislation that would create an incentive for business to relocate to the state.
The measure would offer businesses a tax credit worth up to 20 percent of their eligible expenses for coming into Missouri. The incentive program would be capped at $10 million annually.
Sponsoring House member John McCaherty (muh-CAR’-tee) says the intent is to limit the incentives to businesses that previously have been in Missouri, left and now are returning.
The House had delayed a vote on the bill because of concern that it would apply more broadly. Changes were made, and the bill was approved 136-17 on Monday. It now moves to the state Senate.
Business incentive is HB1090
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