MO HB1091

Establishes three new tax credits for businesses using Missouri port facilities for taxable years 2014-2019, administered by the Department of Economic Development.

Port cargo volume credit: $50 per TEU (twenty-foot equivalent unit) or non-containerized cargo equivalent for taxpayers increasing port cargo volume by minimum 5% over baseline, capped at $250,000 per taxpayer annually with $3.5 million total annual limit.

International trade facility barge/rail credit: $25 per TEU moved by barge or rail through port facilities, with $2 million annual cap and department pre-approval required.

International trade facility investment/employment credit: $3,500 per new full-time employee or 2% of capital investment (taxpayer's choice), capped at $500,000 annually, with 10-year carryforward and recapture provisions if employment levels fall.

All credits require application to Department of Economic Development by March 1st following the year earned, with prorated allocation if requests exceed annual limits.