MO SB79

Repeals and replaces existing sections of Missouri law to establish the "Missouri Science and Innovation Reinvestment Act" governing the Missouri Technology Corporation and life sciences research funding.

Creates a special "Missouri Science and Innovation Reinvestment Fund" supported by appropriations based on the applicable percentage (6% for fiscal years 2013-2027, declining to 4% thereafter) of the amount by which science and innovation employees' gross wages exceed base year 2011 levels.

Establishes a 15-member board of directors for the Missouri Technology Corporation with governor-appointed members required to have expertise in science and innovation fields, with approval by the state senate.

Authorizes the corporation to establish financing programs including proof of concept loans, angel investment co-investments, and venture capital co-investment funds for science and innovation companies meeting specified criteria including job creation and wage requirements.

Requires loan and investment recipients to have 50% or more of employees and assets in Missouri, provide wages at least 35% above average county wages, and maintain reporting obligations and board representation rights for the corporation.