House passes several pieces of business-related legislation
The Missouri House of Representatives this week passed several bills aimed at improving economic development in Missouri.
House Bill 1501, sponsored by Rep. Anne Zerr (R-St. Charles) includes several incentives including tax breaks for data center development and freight forwarders and land assemblage. The bill also includes Angel Investment incentives and it caps certain tax credit programs.
The bill passed the House with a vote of 96-54 and it is now headed for the State Senate.
House Bill 1310, sponsored by Rep. Noel Torpey (R-Independence) sets up the Missouri Angel Investment Program. The primary goal of the act is to encourage individuals to provide seed-capital financing for emerging Missouri businesses engaged in the development, implementation, and commercialization of innovative technologies, products, and services. The program provides tax credits for investors in such businesses.
The bill passed the House by a 114-36 margin, and it is now headed for the State Senate.
House Bill 1495, sponsored by Rep. Torpey, requires the Missouri Technology Corporation to distribute $9 million to not for profit corporations throughout the state with the intent that those corporations award grants to promising early stage businesses that have won national or international competitions and have the potential for national or international sales or the development of new technologies.
House Bill 1495 passed the House by a 117-35 margin.