SB 924 Summary

• Allows Department of Economic Development 30 days to approve or reject notices of intent for quality jobs projects, with automatic approval if no response is given

• Establishes "Show-me Fund Projects" as a new category providing refundable tax credits up to $60 million annually for companies making significant capital investments and job commitments, with credits issued over up to 12 years

• Increases overall annual tax credit authorization from $80 million to $105 million combined across Quality Jobs Act and BUILD programs, with flexible allocation between Show-me Fund and traditional projects

• Prohibits companies from simultaneously receiving quality jobs benefits and other state tax credits at the same facility, but allows credits from other programs to be applied first

• Requires Show-me Fund projects to meet minimum thresholds (e.g., $10 million investment and 100 jobs for high-impact projects) and mandates contract requirements including repayment and recapture provisions for default or noncompliance