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MO HB1449
Bill
Status
3/19/2012
Primary Sponsor
T.J. Berry
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AI Summary
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Prohibits tax credits for jobs that relocate to Missouri from Kansas (within 30 miles of the border) if Kansas does not offer similar tax credits or economic incentives for jobs relocating from Missouri to Kansas.
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Applies to jobs qualifying under multiple tax credit programs including sections 100.700-100.850, 135.100-135.258, 135.950-135.973, 620.1023, and 620.1875-620.1910.
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Requires Missouri to spend $1.50 for every $1.00 Kansas spends on economic development in the Kansas City metropolitan area (Jackson, Platte, Clay, and Cass counties in Missouri; Johnson, Leavenworth, and Wyandotte counties in Kansas), if Kansas fails to enact substantially similar legislation by August 28, 2014.
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Defines "expenditure" to include appropriations, grants, loans, tax credits, tax abatements, and any tax preference reductions administered by the Department of Economic Development.
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Directs the Department of Economic Development to promulgate rules for implementation and establishes the provision becomes effective 30 days after the director notifies the revisor that Kansas has not enacted similar legislation.
Legislative Description
Prohibits the use of economic incentives to attract jobs from Kansas to Missouri if Kansas does likewise or requires Missouri to exceed Kansas's economic development funding in the metropolitan area
Last Action
Second Read and Referred: Jobs, Economic Development, and Local Government (S)
3/29/2012