Establishes the Missouri Defense and Energy Independence Act to support nontraditional defense contractors.
The Missouri Defense and Energy Independence Act creates a fund for grants to nontraditional defense contractors to reduce reliance on foreign-produced materials. It defines "qualified company" and "qualified conversion costs," and establishes a tax credit for eligible companies. The fund is managed by the Missouri Department of Economic Development, with grants up to $500,000 per application. The program will sunset in six years unless reauthorized.
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