MO HB1476

Establishes the "Freight Forwarders Incentive Act" creating air export tax credits for freight forwarders shipping cargo on qualifying outbound flights from airports owned and operated by cities not within a county.

Provides tax credits of 30 cents per chargeable kilo for general cargo and 35 cents per chargeable kilo for perishable freight (agricultural products, seeds, live animals, processed meat) on direct all-cargo aircraft flights to international destinations, effective January 1, 2012.

Limits total aggregate air export tax credits to $60 million, with annual caps of $3.6 million (2012), $4.8 million (2013), and the greater of $1.2 million per weekly qualifying outbound flight or $3.6 million (2014 and beyond).

Requires freight forwarders to file applications with the Department of Economic Development within 120 calendar days of shipment and provides for credit issuance within 10 business days; excludes flights that were operating on a scheduled basis prior to May 1, 2011.

Authorizes tax credits through August 28, 2020, allows credits to carry forward six years if they exceed current year tax liability, permits credit transfers and assignments, and automatically sunsets the program 16 years after enactment unless reauthorized.