MO HB677

Creates a tax credit for small businesses that petition the Small Business Regulatory Fairness Board and are found to be unfairly burdened by regulations, with credit amounts equal to demonstrated compliance costs up to $250 per employee and $25,000 maximum per business

Caps total annual tax credits issued under this program at $1 million, distributed on a first-come, first-served basis

Restructures the nine-member board composition so that the Speaker of the House, Senate President Pro Tempore, and Governor each appoint three members, replacing the previous system that included minority leader appointments and the minority business advocacy commission chair

Requires all board members to be current or former small business owners or officers, representing diverse business types and geographic areas across Missouri

Mandates the board submit annual reports to the governor and general assembly detailing tax credits issued, petitions received, small business comments, agency responses, and public testimony on rules