SB1425

Missouri SB1425 modifies tax credit provisions for new business facilities, particularly for headquarters expansions.

Missouri SB1425 modifies the tax credit provisions for new business facilities, particularly for headquarters expansions. It specifies that each expansion at a headquarters facility, with at least 25 new employees and $1 million in investment, is considered a separate new business facility. The bill also states that buildings on multiple noncontiguous real properties will be considered one facility. It repeals and replaces section 135.155, RSMo, to ensure that only headquarters facilities are eligible for incentives after January 1, 2005.