MO HB468

Repeals and replaces sections of Missouri law governing enterprise zones, technology business facilities, job development credits, and science and innovation programs

Creates new "dormant manufacturing plant zone" designation for large inactive manufacturing facilities (250+ acres, 3,000+ previous employees) that can qualify as enhanced enterprise zones with streamlined approval process

Modifies enhanced enterprise zone tax credits from 10-year to 5-year periods and changes wage/investment credit calculations, with up to $24 million authorized annually for all enhanced enterprise zones

Establishes Missouri Science and Innovation Reinvestment Act creating the Missouri Technology Corporation with expanded powers and funding mechanism based on science and innovation employee wage growth above fiscal year 2011 baseline

Provides sales tax exemptions for data storage centers and server farms for equipment, utilities, and construction materials for both new facilities ($5 million+ investment over 36 months) and expansions ($1 million+ over 12 months)