Mo. House Backs Tax Break for Business Relocations
JEFFERSON CITY (AP) - Some businesses that relocate to Missouri could get a special tax break under legislation endorsed by state House members.
The "Bring Jobs Home Act" would authorize up to $10 million annually of tax credits for Missouri businesses that move more work here from elsewhere. Individual businesses could claim tax credits equaling 20 percent of their relocation expenses.
The House gave initial approval to the legislation Wednesday. It needs another vote to go to the Senate.
House members backed the bill despite recently approving another measure that seeks to halt such incentives. A bill previously passed in the House and Senate would impose a moratorium on tax credits for businesses that relocate from one side of the Missouri-Kansas state line to the other in the Kansas City area.