MO HB264

Establishes the "Manufacturing Jobs Act" allowing qualified manufacturing companies to retain 50-100% of withholding tax from employee wages for 7-10 years based on capital investment and job creation/retention requirements

Qualified manufacturing companies with NAICS code 33611 (motor vehicle manufacturing) can retain 100% of withholding tax for 10 years when manufacturing new products, compared to 50% for other manufacturers

Qualified suppliers deriving over 10% of sales from qualified manufacturers can retain all withholding tax for 3-5 years if they create 5+ new jobs meeting wage and health insurance requirements

Caps individual company withholding retention at $10 million per year and total program withholding at $15 million per year, with restrictions preventing simultaneous participation in other state tax credit programs

Program sunsets October 12, 2016 unless reauthorized, with annual reporting requirement to the general assembly on participating companies, benefits provided, and jobs created or retained