MO HB366

Repeals and re-enacts sections 67.1461, 620.1878, and 620.1881 relating to tax incentives for data storage, server farm, and technology business facilities

Creates new section 67.2050 authorizing municipalities to carry out technology business facility projects for economic development, including purchasing, constructing, leasing, and financing facilities engaged in wired telecommunications, data processing/hosting, or internet services

Creates new section 144.810 establishing sales and use tax exemptions for new and expanding data storage centers and server farm facilities, including exemptions on utilities, machinery, equipment, computers, and construction materials

Adds definition of "high-risk metropolitan statistical area" to the Missouri Quality Jobs Program and creates new job retention benefits for qualified companies in these areas, allowing retention of up to 95% of withholding tax for ten years with minimum investment and employment requirements

Authorizes special sales tax exemptions for qualified companies in high-risk metropolitan statistical areas for tangible personal property and construction materials for project facilities for up to three years