SB 91 Summary

• Repeals and replaces section 135.680, RSMo with revised provisions for the Missouri New Markets Development Program tax credit, limiting annual tax credit utilization to $25 million and establishing a sunset date of December 31, 2024

• Enacts the "Missouri Angel Investment Incentive Act" (sections 348.273 and 348.274) to provide tax credits equal to 50% of cash investments made by accredited investors in qualified Missouri knowledge-based companies

• Restricts angel investment tax credits to $50,000 per business or $250,000 per investor per year, with a total annual cap of $6 million and expiration on December 31, 2024

• Designates regional Small Business and Technology Development Centers (SBTDCs) to review business applications and allocate tax credits to qualified Missouri businesses meeting specified criteria

• Requires qualified Missouri businesses to report annually on investor information, employment creation, and capital investments, with provisions for loss of designation if businesses relocate outside Missouri within 10 years