MO HB1311

Municipalities may undertake technology business facility projects for wired telecommunications carriers, data processing/hosting services, and internet publishing/broadcasting businesses, with exemptions from local sales taxes on leases and rentals of project components.

New data storage centers meeting investment thresholds of at least $37 million over 36 months and creating at least 30 jobs at 150% of county average wage receive up to 15 years of 100% state and local sales and use tax exemptions on utilities, machinery, equipment, and construction materials, limited to projected net fiscal benefit over 10 years.

Expanding data storage centers with at least $5 million net new investment over 12 months and 5 new jobs at 150% of county average wage receive up to 10 years of sales and use tax exemptions on incremental utilities, machinery/equipment exceeding prior three-year averages, and construction materials.

Project taxpayers must submit project plans to the Department of Economic Development for conditional approval, with retroactive tax refunds and exemption certificates issued upon verification of compliance with investment and job creation requirements.

Recipients of exemptions are ineligible for business recruitment tax credits, and the departments of Economic Development and Revenue shall conduct random audits and adopt rules to implement the exemption program.