MO HB850

Establishes the "Bring Jobs Home Act" creating a deduction against Missouri income taxes (Chapter 143) equal to 20% of eligible insourcing expenses for businesses relocating from out-of-state to Missouri.

Defines eligible insourcing expenses as costs paid to eliminate a business unit outside Missouri and establish the same business unit within Missouri, including deductible business expenses, permits, licenses, lease fees, and equipment installation costs.

Requires businesses claiming the deduction to increase their full-time equivalent employees in Missouri in the year of the claim compared to the baseline year before expenses were first incurred.

Prohibits any deduction for expenses incurred when dissolving a Missouri business unit and relocating it to another state.

Automatically sunsets the program six years after the effective date unless reauthorized by the legislature, with additional 12-year sunset if reauthorized; requires the Department of Economic Development and Department of Revenue to promulgate implementing rules.