MO HCR23

Grants authority to the Department of Economic Development to approve qualified equity investments under the Missouri New Markets Development Program without exceeding tax credit limitations in section 135.680, subsection 2

Sets the current fiscal year cap for the program at $25 million in tax credits

Establishes that for every $10 million in annual credits claimed, $125 million in qualified equity investment is made

Authority applies to the next fiscal year and the partial fiscal year that follows until the sunset provision in section 135.680, subsection 7 takes effect

Cites job creation and new tax revenue generation as benefits of the Missouri New Markets Development Program