Missouri SB1553 authorizes tax credits and grants for companies producing critical materials and pharmaceuticals.

Missouri SB1553 establishes tax credits and grants for companies producing critical materials and pharmaceuticals. The bill defines "critical materials" as metals essential for energy, defense, and consumer products, and "critical pharmaceuticals" as active ingredients and finished products vital for national security and public health. Companies can receive tax credits for project costs exceeding $5 million, with credits up to 25% of costs. The bill also creates a grants program for companies producing these critical items, with funds used for project costs.

Missouri SB1553 authorizes tax credits and grants for companies producing critical materials and pharmaceuticals.

Missouri SB1553 establishes tax credits and grants for companies producing critical materials and pharmaceuticals. The bill defines "critical materials" as metals essential for energy, defense, and consumer products, and "critical pharmaceuticals" as active ingredients and finished products vital for national security and public health. Companies can receive tax credits for project costs exceeding $5 million, with credits up to 25% of costs. The bill also creates a grants program for companies producing these critical items, with funds used for project costs.