HB 1684 Summary

• Establishes the "Port Improvement District Act" (sections 68.300-68.360) allowing port authorities to create districts within port boundaries, levy sales and use taxes or real property taxes, and fund port improvement projects with voter approval through mail-in ballot elections.

• Creates the "Missouri Jobs for the Future (MO-JFF) District" program enabling municipalities to establish districts that capture incremental state sales tax revenues and new employee withholding taxes to finance infrastructure and development projects with required partnership from higher education institutions.

• Enacts the "Manufacturing Jobs Act" (section 620.1910) providing withholding tax retention benefits to qualified manufacturing facilities retaining jobs and qualified suppliers adding new jobs that meet wage and insurance requirements.

• Establishes the "Missouri Business First Act" (section 620.1920) allowing the Department of Economic Development to increase tax credits and withholding benefits for Missouri businesses by up to 10 percent based on tenure and economic benefit findings.

• Clarifies sales tax treatment for admissions, hotel/restaurant charges, and resale purchases; creates tax exemptions for underground mine data storage facilities; and increases research tax credit aggregate cap from nine million seven hundred thousand to ten million dollars annually.