MO SB633

Authorizes Missouri municipalities to carry out technology business facility projects involving data processing, hosting, internet publishing, and telecommunications operations, with ability to accept grants and enter into loan agreements with private entities.

Exempts lease or rental transactions of technology business facility project components from local sales taxes and property taxes, with lessees making payments in lieu of taxes distributed to affected taxing entities.

Provides new data storage center projects with up to 15 years of 100 percent state and local sales and use tax exemptions on utilities, machinery, equipment, and construction materials, limited to projected net fiscal benefit over 10 years and requiring minimum $37 million investment and 30 new jobs at 150 percent of county average wage.

Provides expanding data storage center projects with up to 10 years of 100 percent exemptions on incremental utilities, machinery, equipment, and construction materials, requiring minimum $5 million investment and 5 new jobs at 150 percent of county average wage.

Requires projects to submit notice of intent and project plan to Department of Economic Development for conditional approval within 30 days, with department and Department of Revenue conducting random audits and enforcing repayment penalties for non-compliance.