House OKs Incentive for Businesses Coming to Mo.
JEFFERSON CITY (AP) - Missouri House members have approved legislation that would create an incentive for business to relocate to the state.
The measure would offer businesses a tax credit worth up to 20 percent of their eligible expenses for coming into Missouri. The incentive program would be capped at $10 million annually.
Sponsoring House member John McCaherty says the intent is to limit the incentives to businesses that previously have been in Missouri, left and now are returning.
The House had delayed a vote on the bill because of concern that it would apply more broadly. Changes were made, and the bill was approved 136-17 on Monday. It now moves to the state Senate.