Senate Bill 120 Summary

• Creates new tax incentive programs: Establishes the Missouri Export Incentive Act (air cargo export credits), Missouri Angel Investment Incentive Act (investments in qualified businesses), and technology business facility projects with sales tax exemptions.

• Modifies housing and historic preservation credits: Adjusts caps and limitations on low-income housing tax credits and historic structures rehabilitation tax credits, with new authorization limits starting July 1, 2013.

• Authorizes data storage center exemptions: Provides state and local sales/use tax exemptions for new and expanding data storage centers, limited to 15 years for new facilities and 10 years for expanding facilities, with investment and job creation requirements.

• Ends new authorizations for certain programs: Prohibits new tax credit authorizations under sections 135.475-135.487 (business facility credits) and 447.700-447.718 (enterprise zone credits) after the effective date of the act.

• Includes emergency clause: Declares the act an emergency measure for immediate preservation of public health, welfare, peace and safety, effective upon passage and approval.