MO HB620

Repeals section 135.960 and establishes the "Buck Stops Here Economic Development Tax Credit Reform" program (sections 620.2000-620.2020) to provide tax credits and withholding tax retention for qualified companies creating new or retaining jobs in Missouri.

Allows qualified companies creating 10+ new jobs with average wages at 90% of county average wage to retain one-third of withholding tax for 5 years (or 6 years for existing Missouri businesses), with additional discretionary tax credits up to 9% of new payroll annually.

Permits qualified companies to retain up to 100% of withholding tax for 10 years to prevent relocation, if retaining 50+ jobs and making capital investment equal to half the total benefits offered, subject to approval demonstrating significant relocation probability.

Excludes from program benefits gambling establishments, retail stores, food and drinking places, public utilities, ethanol and biodiesel producers, educational institutions, religious organizations, public administration, and healthcare/social services (with exception for certain headquarters operations).

Caps annual tax credits at $90 million per fiscal year; requires quarterly reporting to legislature; institutes sunset provisions with automatic expiration 6 years after enactment unless reauthorized, then 12 years after reauthorization.