HB 780 Summary

• Establishes the "Good Jobs First Act" requiring comprehensive reporting and accountability for all state and local economic development subsidies worth $25,000 or more, including tax credits, abatements, bonds, grants, and loans.

• Mandates recipient corporations meet specific job creation, wage, and health care requirements: wages must equal or exceed 85% of average industry wages (75% for small businesses), with subsidy cost not exceeding $35,000 per full-time job created.

• Requires annual progress reports from granting bodies documenting job creation, wages by category, health care coverage, and compliance with requirements; corporations that fail to meet obligations face pro-rata subsidy recapture or complete forfeiture after three consecutive years of default.

• Requires the Department of Revenue to submit annual unified economic development budget reports detailing all tax expenditures and identifying individual corporations receiving benefits valued at $5,000 or more; property-taxing entities must report property tax abatements and reductions.

• Allows Missouri taxpayers to bring civil actions to enforce the statute and prohibits recipient corporations from simultaneously receiving other state or local economic development benefits.