MO SB333

Changes the director of economic development's authority from discretionary ("may") to mandatory ("shall") in authorizing taxpayers to receive tax credits for qualified research expenses beginning January 1, 2001

Limits qualified research expenses to those in agricultural biotechnology, plant genomics, diagnostic and therapeutic medical devices, prescription pharmaceuticals for humans or animals, or power system technology for aerospace, space, defense, or implantable/wearable medical services

Modifies the tax credit transfer eligibility period from 1996-1999 to 2014-2020, with application deadline extended to December 31, 2022

Reduces the annual aggregate cap for all tax credits from $9.7 million to $5 million per calendar year, with proportional reductions if claims exceed the cap

Extends the credit expiration date from January 1, 2005 to January 1, 2020, after which no new tax credits shall be approved or issued