MO HB676

Creates tax benefits for eligible businesses locating in unused or vacant areas of Missouri public two-year and four-year higher education institutions, allowing them to subtract 50% of business income from Missouri adjusted gross income for five years

Allows qualified taxpayers employed at new jobs in these areas to subtract $10,000 from their Missouri adjusted gross income annually for five years

Eligible businesses must create new jobs and cannot engage in retail sales, real estate dealings, or professional services; must align with the institution's academic mission and demonstrate positive community economic impact

Requires performance metrics including job creation targets, with sanctions including benefit reduction or termination for businesses that fail to meet agreed-upon metrics

Program automatically sunsets six years after August 28, 2015, unless reauthorized by the General Assembly