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MO SB1406
Bill
Status
Introduced
1/7/2026
Primary Sponsor
Mike Henderson
Click for details
AI Summary
- Creates tax credits for nontraditional defense contractors that convert their businesses to produce chemicals, metals, gases, or rare earth minerals for energy or Department of Defense projects, reducing reliance on foreign sources
- Tax credits begin January 1, 2027, with a $40 million annual cap; individual company credits are limited to 15% of the cumulative cap and distributed over four years
- Tax credits are non-refundable, cannot be carried forward, but may be assigned, transferred, or sold
- Establishes the "Grants for Independence from Foreign Influence Fund" with at least $10 million in appropriations, providing grants up to $500,000 per application for qualified conversion costs
- Program automatically sunsets six years after the effective date unless reauthorized by the General Assembly
Legislative Description
Establishes the Missouri Defense and Energy Independence Act
Last Action
Hearing Cancelled S Commerce, Consumer Protection, Energy & the Environment Committee
2/24/2026
Committee Referrals
Commerce, Consumer Protection, Energy And The Environment1/27/2026
Full Bill Text
No bill text available