HB3027

Missouri Defense and Energy Independence Act establishes tax credits for companies producing critical materials and pharmaceuticals.

The Missouri Defense and Energy Independence Act creates tax credits for companies producing critical materials and pharmaceuticals. Critical materials include metals essential for energy, defense, and consumer products. Critical pharmaceuticals are those vital to national security or public health. The act defines critical materials and pharmaceuticals, exempts related sales and purchases from state and local sales tax, and outlines tax credit eligibility and application procedures. The tax credit program will sunset on December 31, 2036, unless reauthorized.