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

7 years 4 months 3 weeks 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 - Crews are investigating a fire that started in the front room of a house Tuesday evening. ... More >>
5 hours ago Tuesday, November 19 2019 Nov 19, 2019 Tuesday, November 19, 2019 9:37:00 PM CST November 19, 2019 in News
COLUMBIA - Michael Demkowicz had tried everything to quit smoking. The patch. The pill. The gum. Nothing worked —... More >>
6 hours ago Tuesday, November 19 2019 Nov 19, 2019 Tuesday, November 19, 2019 8:35:29 PM CST November 19, 2019 in News
COLUMBIA - On Tuesday night the search committee to find the new Vice Chancellor for Inclusion, Diversity and Equity held... More >>
7 hours ago Tuesday, November 19 2019 Nov 19, 2019 Tuesday, November 19, 2019 6:58:00 PM CST November 19, 2019 in News
COLUMBIA - A 911 dispatcher ordered all employees to evacuate the KOMU 8 News building on Highway 63 after a... More >>
8 hours ago Tuesday, November 19 2019 Nov 19, 2019 Tuesday, November 19, 2019 6:26:00 PM CST November 19, 2019 in News
COLUMBIA - The trial for a man accused in a 2018 deadly New Year's Day Waffle House shooting got underway... More >>
10 hours ago Tuesday, November 19 2019 Nov 19, 2019 Tuesday, November 19, 2019 4:26:00 PM CST November 19, 2019 in News
COLUMBIA - The Cradle to Career Alliance unveiled its annual community report card at a luncheon Tuesday. The group... More >>
11 hours ago Tuesday, November 19 2019 Nov 19, 2019 Tuesday, November 19, 2019 3:19:00 PM CST November 19, 2019 in News
SWEET SPRINGS - For years, if someone needed emergency medical attention anywhere between Columbia and Kansas City, there's a good... More >>
11 hours ago Tuesday, November 19 2019 Nov 19, 2019 Tuesday, November 19, 2019 3:10:00 PM CST November 19, 2019 in News
COLE COUNTY - A pedestrian was killed after being struck by a car while attempting to cross U.S. 54 Tuesday.... More >>
12 hours ago Tuesday, November 19 2019 Nov 19, 2019 Tuesday, November 19, 2019 2:25:00 PM CST November 19, 2019 in News
ST. LOUIS (AP) — Republican legislators and Republican Missouri Attorney General Eric Schmitt on Tuesday laid out legislative priorities... More >>
13 hours ago Tuesday, November 19 2019 Nov 19, 2019 Tuesday, November 19, 2019 1:25:55 PM CST November 19, 2019 in News
COLUMBIA - Police arrested a Columbia man after a car chase in north Columbia Tuesday morning. The chase began... More >>
15 hours ago Tuesday, November 19 2019 Nov 19, 2019 Tuesday, November 19, 2019 11:14:00 AM CST November 19, 2019 in News
LAKE OZARK - A former teacher in the School of the Osage district pleaded guilty to having sexual contact with... More >>
16 hours ago Tuesday, November 19 2019 Nov 19, 2019 Tuesday, November 19, 2019 10:27:00 AM CST November 19, 2019 in News
COLUMBIA - A judge ruled Monday that the University of Missouri's rule barring guns from its campuses is constitutional. ... More >>
18 hours ago Tuesday, November 19 2019 Nov 19, 2019 Tuesday, November 19, 2019 8:23:00 AM CST November 19, 2019 in News
COLUMBIA - Randall Siddens, 34, passed away Monday afternoon from injuries sustained in a car crash on Grindstone Parkway in... More >>
19 hours ago Tuesday, November 19 2019 Nov 19, 2019 Tuesday, November 19, 2019 7:14:00 AM CST November 19, 2019 in News
WASHINGTON (AP) — Two top national security aides who listened to President Donald Trump’s call with Ukraine are preparing to... More >>
21 hours ago Tuesday, November 19 2019 Nov 19, 2019 Tuesday, November 19, 2019 5:36:46 AM CST November 19, 2019 in News
(CNN) -- UFC fighter Ben Askren, 35, announced his retirement Monday while on the ESPN podcast " Ariel Helwani's MMA... More >>
21 hours ago Tuesday, November 19 2019 Nov 19, 2019 Tuesday, November 19, 2019 5:28:00 AM CST November 19, 2019 in Sports
NEW YORK (AP) — Derek Jeter is among 18 newcomers on the 2020 Hall of Fame ballot along with former... More >>
21 hours ago Tuesday, November 19 2019 Nov 19, 2019 Tuesday, November 19, 2019 4:52:00 AM CST November 19, 2019 in Sports
NORTH PLATTE, Neb. (AP) — Human remains discovered in a Nebraska stock trailer appear to be from one of... More >>
22 hours ago Tuesday, November 19 2019 Nov 19, 2019 Tuesday, November 19, 2019 4:14:25 AM CST November 19, 2019 in News
COLUMBIA - The University of Missouri is looking for community input in its search for a new vice chancellor of... More >>
23 hours ago Tuesday, November 19 2019 Nov 19, 2019 Tuesday, November 19, 2019 3:28:00 AM CST November 19, 2019 in News
Columbia, MO
Broken Clouds 46°
3am 42°
4am 42°
5am 41°
6am 40°