New Laws Mean More Tax Breaks for Small Businesses, Oversight for Charter Schools

6 years 2 weeks 6 days ago Wednesday, June 27 2012 Jun 27, 2012 Wednesday, June 27, 2012 5:44:00 PM CDT June 27, 2012 in News
By: Scott Malone
loading

COLUMBIA - Missouri small businesses will receive tax breaks, while charter schools will be subject to increased oversight, according to two bills signed into law Wednesday by Governor Jay Nixon. The governor also vetoed a bill that could have made it easier for some students to transfer to other districts.

House bill 1661 provides a targeted tax deduction for state small businesses that create jobs over the next two years. Small businesses can receive a $10,000 tax break for each new qualifying job they create.

To qualify for the tax break:

  • Businesses must have 50 employees or fewer
  • Each job created must pay at least the average county or state wage - whichever is lower
  • Created jobs must employ the workers for at least 52 weeks

Business owners can also receive a $20,000 tax deduction if the new job offers health insurance and the employer pays at least 50 percent of the premium.

The tax break comes after CNN-Money rated Missouri as the nation's sixth-best state for new business start-ups. Missouri was the only Midwestern state in the rankings. The state's unemployment rate is currently at a 41-month low, while state exports are up 15.4 percent to date over 2011.

Nixon signed Senate Bill 576 Wednesday night. The bill puts tougher standards on sponsors of charter schools, and gave the state Department of Elementary and Secondary Education (DESE) greater oversight to make sure sponsors and charter schools meet certain academic and financial standards.

Some of the provisions in the bill include:

  • Starting in August, prospective sponsors of charter schools will go through an application and approval process with the DESE
  • Sponsors will enter legally-binding performance contracts with their chartered schools; the contract sets performance measures that must be met, or the schools risk probation or even closure
  • If a school fails to meet those specific performance standards, the sponsor must intervene
  • Beginning in October, DESE will identify charter schools that are experiencing financial stress and report them to the Governor and General Assembly
  • DESE will have authority to withhold funding until there is compliance with the requirements

The provisions also provide a clear framework to allow expansion of charter schools in other parts of the state.

Nixon vetoed House Bill 1789, which could have made it easier for students living in St. Albans, St. Elizabeth, and Gravois Mills to transfer school districts. Existing law already establishes a reasoned process through which a student can be reassigned to another district if the Commissioner of Education determines that the student faces an "unreasonable transportation hardship."

The bill would have deviated from that process in those three communities and eliminated the Commissioner's discretion. The new law would not have required students in those communities to prove a transportation hardship in order to be reassigned to another school district. In a press release, Nixon said the law would have imposed an "unfunded mandate on some rural school districts".

More News

Grid
List
JEFFERSON CITY - The Missouri Democratic Party filed an appeal to the ruling from a Cole County judge dismissing a... More >>
1 hour ago Wednesday, July 18 2018 Jul 18, 2018 Wednesday, July 18, 2018 1:59:00 PM CDT July 18, 2018 in News
FULTON - In the span of one month, law enforcement responded to nine car crashes on Route F between Boone... More >>
1 hour ago Wednesday, July 18 2018 Jul 18, 2018 Wednesday, July 18, 2018 1:40:00 PM CDT July 18, 2018 in News
COLUMBIA - The man who caused the crash which left a Harrisburg teacher dead pleaded guilty Wednesday. Brandon Brill,... More >>
3 hours ago Wednesday, July 18 2018 Jul 18, 2018 Wednesday, July 18, 2018 12:34:00 PM CDT July 18, 2018 in News
SANTA ANA, CALIFORNIA (AP) — Wet and muddy from their trek across the Mexican border, immigrant children say they sat... More >>
4 hours ago Wednesday, July 18 2018 Jul 18, 2018 Wednesday, July 18, 2018 10:50:00 AM CDT July 18, 2018 in News
(CNN) -- The 12 members of a youth soccer team and their coach who spent more than two weeks trapped... More >>
7 hours ago Wednesday, July 18 2018 Jul 18, 2018 Wednesday, July 18, 2018 8:24:00 AM CDT July 18, 2018 in News
JEFFERSON CITY (AP) — A Missouri program aimed at connecting stroke, heart attack and trauma patients with the best care... More >>
7 hours ago Wednesday, July 18 2018 Jul 18, 2018 Wednesday, July 18, 2018 8:17:00 AM CDT July 18, 2018 in News
(CNN) -- The owner of the Mandalay Bay hotel says it bears no liability in last year's Las Vegas concert... More >>
9 hours ago Wednesday, July 18 2018 Jul 18, 2018 Wednesday, July 18, 2018 6:32:00 AM CDT July 18, 2018 in News
SPRINGFIELD (AP) — A 61-year-old southwest Missouri woman has been sentenced to life in prison for an ambush-style shooting of... More >>
9 hours ago Wednesday, July 18 2018 Jul 18, 2018 Wednesday, July 18, 2018 6:08:59 AM CDT July 18, 2018 in News
COLUMBIA - An arrest for suspicion of filing a false report has been made in connection to a reported robbery... More >>
15 hours ago Tuesday, July 17 2018 Jul 17, 2018 Tuesday, July 17, 2018 11:44:00 PM CDT July 17, 2018 in News
CALLAWAY COUNTY - After four days of searching, Jerry Kinman has been found dead near Little Dixie Lake. Kinman,... More >>
17 hours ago Tuesday, July 17 2018 Jul 17, 2018 Tuesday, July 17, 2018 10:19:00 PM CDT July 17, 2018 in News
STURGEON - The carnival rides at the Boone County Fair closed unexpectedly just hours after the fair opened because they... More >>
18 hours ago Tuesday, July 17 2018 Jul 17, 2018 Tuesday, July 17, 2018 9:00:00 PM CDT July 17, 2018 in News
COLUMBIA - A democratic candidate for Missouri's fourth congressional district criticized the Republican incumbent Tuesday for her lack of action... More >>
20 hours ago Tuesday, July 17 2018 Jul 17, 2018 Tuesday, July 17, 2018 6:46:00 PM CDT July 17, 2018 in News
COLUMBIA - The Columbia Chamber of Commerce harshly criticized the city council at Monday night's meeting regarding projects being put... More >>
20 hours ago Tuesday, July 17 2018 Jul 17, 2018 Tuesday, July 17, 2018 6:41:00 PM CDT July 17, 2018 in News
COLUMBIA - Hy-Vee recalled its Spring Pasta Salad from 244 stores on Tuesday. Company officials said 20 illnesses by... More >>
21 hours ago Tuesday, July 17 2018 Jul 17, 2018 Tuesday, July 17, 2018 5:54:00 PM CDT July 17, 2018 in News
MEXICO - Josh Hawley faced questions about President Donald Trump's summit with Russia as well as tariffs facing Missouri farmers... More >>
22 hours ago Tuesday, July 17 2018 Jul 17, 2018 Tuesday, July 17, 2018 5:31:00 PM CDT July 17, 2018 in News
COLUMBIA - Construction crews began adding a turn lane for an upcoming Columbia middle school on South Sinclair Road on... More >>
1 day ago Tuesday, July 17 2018 Jul 17, 2018 Tuesday, July 17, 2018 2:58:00 PM CDT July 17, 2018 in News
BOONE COUNTY – Expecting mothers in Boone County will soon have more services at their disposal. The county received... More >>
1 day ago Tuesday, July 17 2018 Jul 17, 2018 Tuesday, July 17, 2018 2:16:00 PM CDT July 17, 2018 in News
JEFFERSON CITY - The Grain Belt Express Clean Line, a proposed energy transmission project through northern Missouri, got new life... More >>
1 day ago Tuesday, July 17 2018 Jul 17, 2018 Tuesday, July 17, 2018 1:59:00 PM CDT July 17, 2018 in News
Columbia, MO
Broken Clouds 84°
4pm 85°
5pm 86°
6pm 85°
7pm 84°