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MO HB767
Bill
Status
3/4/2013
Primary Sponsor
Caleb Jones
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AI Summary
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Renames section 620.1910 from "Manufacturing Jobs Act" to "Manufacturing and Utility Infrastructure Jobs Act" to include qualified investor-owned utilities as eligible participants
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Defines "qualified investor-owned utility" as a Missouri Public Service Commission-regulated business providing electricity, natural gas, water, or sewer services that commits to capital investments of at least $75,000 per new job within two years
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Allows qualified investor-owned utilities to retain 50% of withholding tax from full-time jobs created for infrastructure replacement or expansion for a period of ten years, beginning no earlier than January 1, 2014
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Increases the aggregate annual cap on withholding tax retention from $15 million to accommodate both manufacturing companies and investor-owned utilities, with a $10 million per-entity annual limit
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Expands the definition of "capital investment" to include utility infrastructure, transmission, and generation including small modular reactors and renewable energy projects
Legislative Description
Expands the Manufacturing Jobs Act to include qualified investor owned utilities
Last Action
Referred: Economic Development(H)
5/17/2013