MO HB2364

Adds "megaproject" as a new qualified project type under the Missouri Quality Jobs Act, defined as projects in dormant automobile manufacturing facilities that create 100+ new jobs within four years and pay wages equal to or above mean production occupation wages in Missouri

Allows qualified companies to apply for enhanced tax credits equal to projected new annual payroll for megaprojects, with a maximum of $8 million issued annually and $50 million total cap

Requires megaproject applicants to file notice of intent by December 31, 2015, or when unemployment rates fall below 5% for 12 consecutive months, whichever is earlier

Establishes approval criteria for megaprojects including third-party market feasibility and financial analyses, significant local incentives, competing state/foreign offers, minimum $50 million capital investment and 500 new jobs, and binding contracts with recapture provisions

Extends the timeframe for projects to meet minimum job thresholds from two to four years for megaprojects and increases the withholding tax retention period to up to eight years from the date jobs are created