MO HB840

Establishes the "Aerotropolis Trade Incentive and Tax Credit Act" creating tax incentives and credits for businesses operating in designated gateway zones within 50 miles of an airport or within foreign trade zones.

Authorizes air export tax credits of 25 cents per chargeable kilo for general cargo and 30 cents per chargeable kilo for perishable freight shipped on qualifying outbound flights, with a 60 million dollar aggregate cap through August 28, 2019.

Provides tax exemptions and credits for qualifying applicants (owners, tenants, and entities) in eligible facilities, including income tax exemptions under chapter 143, franchise tax exemptions under chapter 148, and credits up to 5 percent of eligible facility costs annually.

Requires counties and cities with designated gateway zones to establish a board of supervisors and levy special assessments of 20 cents per rentable square foot on eligible facilities, with 50 percent of revenues directed to airport marketing and 50 percent to regional economic development associations.

Establishes annual and aggregate caps on tax credits ($6-30 million annually depending on year, with 300 million dollar total cap for facility-based credits and 120 million dollar cap for interest cost credits) and sunsets the program six years after August 28, 2011, unless reauthorized.