MO HB110

Manufacturers and distributors increasing port cargo volume by at least 5% over their base year receive a $50 tax credit per TEU (twenty-foot equivalent unit) or equivalent noncontainerized cargo, capped at $250,000 per taxpayer annually and $3.5 million total annually

International trade facilities using Missouri water-connected ports and moving cargo by barge or rail receive a $25 tax credit per TEU or equivalent, capped at $2 million in total annual credits

Companies engaged in qualified international trade activities may claim either $3,500 per new qualified full-time employee or 2% of capital investment, capped at $500,000 in total annual credits

All three tax credit programs apply to taxable years beginning January 1, 2015 through January 1, 2021, with credits non-transferable and excess amounts carried forward for 5-10 years depending on the credit type

Department of Economic Development must report to the General Assembly by March 1, 2017 and every two years thereafter on participating companies, benefits provided, jobs created, and fiscal impact