MO SB394

Amends chapters 67 and 144 to create tax incentives for data storage centers through two new sections: section 67.2050 (municipal development authority) and section 144.810 (tax exemptions).

Allows municipalities to finance technology business facility projects (data processing, hosting, internet publishing, and telecommunications) through loan agreements, leases, and mortgages with nominal consideration to the municipality.

Exempts lease or rental transactions for technology business facility projects from local sales tax and exempts leasehold interests from property taxes, with payments in lieu of taxes distributed proportionally to affected taxing entities.

Creates 100% state and local sales and use tax exemptions for new data storage centers requiring $37 million investment over 36 months and creating 30 new jobs at 150% of county average wage, with exemptions capped at net fiscal benefit over 10 years and lasting up to 15 years.

Creates 100% state and local sales and use tax exemptions for expanding data storage centers requiring $5 million investment over 12 months and creating 5 new jobs at 150% of county average wage, lasting up to 10 years.

All provisions terminate September 1, 2019, but do not impair previously approved agreements or exemptions.