MO HB1502

Municipalities may undertake technology business facility projects for data processing, internet services, or telecommunications operations, and may lease or sell facility components with nominal or no monetary consideration.

Transactions involving lease or rental of technology business facility components are exempt from local sales tax, and leasehold interests are exempt from property taxes.

New data storage centers meeting investment ($5 million over 36 months) and job creation (5+ jobs at 150% county average wage) requirements receive 100% state and local sales and use tax exemption for up to 15 years on utilities, machinery, equipment, and construction materials.

Expanding data storage centers with minimum $2 million net new investment and 2+ new jobs at 150% county average wage receive up to 10 years of sales tax exemption on incremental utility usage, equipment, and construction materials, limited to projected net fiscal benefit over 10 years.

Tax exemption recipients are ineligible for business recruitment tax credits, and exemptions are conditioned on execution of agreements with the Department of Economic Development providing for repayment penalties if project requirements are not met; section terminates September 1, 2020.