HB 1028 Summary

• Repeals sections 178.760-178.764 and 178.892-178.896 (industrial retained and new jobs training programs) and sections 620.470-620.482 (job development fund programs), replacing them with a unified Compete Missouri Training Program under sections 620.800-620.809.

• Establishes the Compete Missouri Training Program to provide financial assistance to qualified companies for training employees in new jobs and retraining employees in retained jobs, administered by the Department of Economic Development.

• Creates two funds: the Compete Missouri Job Development Fund (for new capital investment projects) and the Compete Missouri Community College New Jobs and Job Retention Training Funds (supported by new and retained jobs credits from withholding taxes).

• Requires qualified companies to maintain health insurance covering at least 50 percent of premiums for full-time employees, excludes certain industries (gambling, retail, food service, public utilities, educational services, religious organizations, ethanol/biodiesel production), and prevents assistance to delinquent taxpayers.

• Automatically sunsets the program on July 1, 2018, unless reauthorized by the General Assembly.