Bill Summary: Senate Committee Substitute for SB 895, 813, 911, 924, 922 & 802

• Repeals and replaces twenty-four sections of Missouri law relating to tax incentives for job creation and economic development programs.

• Establishes the "Missouri Jobs for the Future" (MO-JFF) program allowing municipalities to create districts and capture incremental increases in state sales tax revenues and state income tax withholding from new employees to finance infrastructure and development projects.

• Requires municipalities to secure commitment from at least one Missouri-based higher education institution or science/technology research institution with significant physical presence in the district as a condition of plan approval.

• Sets a $60 million annual aggregate cap on MO-JFF revenue disbursement during fiscal year 2011, increasing by 10% annually for five years, then remaining constant thereafter.

• Consolidates and modifies various tax credit programs including the "Show-Me Fund" program for project-specific tax credits, with a maximum of $60 million annually for show-me fund credits and overall cap of $105 million for all quality jobs programs combined.