Senate Bill No. 390 Summary

• Establishes the "Aerotropolis Trade Incentive and Tax Credit Act" to promote air cargo activity and international trade around Missouri airports through tax credits and incentives for qualifying facilities.

• Creates three types of eligible facilities within designated gateway zones: qualifying gateway facilities, qualifying cold-chain facilities, and qualifying assembly and manufacturing facilities, each with specific requirements for cargo activity levels.

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

• Authorizes income tax exemptions, withholding tax retention, and facility development tax credits (3-5% of eligible costs) for eligible facility owners and tenants based on cargo activity levels, with a $300 million aggregate cap on facility tax credits through 2026.

• Requires local governments to establish boards overseeing special assessments of 20 cents per rentable square foot on eligible facilities, with revenues split equally between airport marketing and regional economic development associations.