HB 357 Summary

• Repeals and replaces existing enhanced enterprise zone statutes (sections 135.950, 135.953, 135.957, 135.960, 135.963, and 135.967) and creates a new section 135.969 for dormant manufacturing plant zones.

• Establishes "dormant manufacturing plant zones" as new enhanced enterprise zones—areas of at least 250 acres that formerly employed 3,000+ persons in manufacturing but ceased operations, if designated blighted and meeting poverty or federal funding criteria.

• Reduces tax credit periods from 10 years to 5 years for standard enhanced business enterprises in regular enhanced enterprise zones, while creating separate 5-year credit provisions for dormant manufacturing plant zones under new section 135.969.

• Updates the NAICS classification system reference from 1997 edition to 2007 edition and adds new definitions including "employee" requiring health insurance and "dormant manufacturing plant zone."

• Allows dormant manufacturing plant zone applications to be deemed automatically approved upon written notice to the department if the area meets blighted area criteria, eliminating standard department approval requirements for these zones.