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SECOND REGULAR SESSION
HOUSE BILL NO. 3214
103RD GENERAL ASSEMBL Y
INTRODUCED BY REPRESENT A TIVE COSTLOW .
6932H.01I JOSEPH ENGLER, Chief Clerk
AN ACT
T o repeal section 143.071, RSMo, and to enact in lieu thereof two new sections relating to
manufacturing incentives.
Be it enacted by the General Assembly of the state of Missouri, as follows:
Section A. Section 143.071, RSMo, is repealed and two new sections enacted in lieu
2 thereof, to be known as sections 143.071 and 620.1920, to read as follows:
143.071. 1. For all tax years beginning before September 1, 1993, a tax is hereby
2 imposed upon the Missouri taxable income of corporations in an amount equal to five percent
3 of Missouri taxable income.
4 2. For all tax years beginning on or after September 1, 1993, and ending on or before
5 December 31, 2019, a tax is hereby imposed upon the Missouri taxable income of
6 corporations in an amount equal to six and one-fourth percent of Missouri taxable income.
7 3. For all tax years beginning on or after January 1, 2020, a tax is hereby imposed
8 upon the Missouri taxable income of corporations in an amount equal to four percent of
9 Missouri taxable income.
10 4. The provisions of this section shall not apply to out-of-state businesses operating
11 under sections 190.270 to 190.285.
12 5. For all tax years beginning on or after January 1, 2027, the pr ovisions of this
13 section shall not apply to qualified manufacturing companies. For the purposes of this
14 section, a "qualified manufacturing company" means a firm, partnership, joint ventur e,
15 association, or private or public corporation regist ered to do business in Missouri that is
16 classified by the North American Industry Classification System (NAICS)
1 7 manufacturing codes 31-33, and:
EXPLANA TION — Matter enclosed in bold-faced brackets [thus] in the above bill is not enacted and is
intended to be omitted from the law . Matter in bold-face type in the above bill is proposed language.
18 (1) Owns all of its pr operty in this state; or
19 (2) Owns pr operty in the state with an adjusted basis for Missouri state tax
20 purposes in the amount of at least one million dollars at the close of the tax year .
620.1920. 1. This section shall be known and may be cited as the
2 "Manufacturing Opportunity Zones Act".
3 2. As used in this section, the term "Manufacturing Opportunity Zone" means a
4 qualified opportunity zone designated in this state under 26 U.S.C. Sections 1400Z-1 and
5 1400Z-2. The zones shall have the elements necessary for large manufacturing
6 developments including, but not limited to, transportation, proxi mity to large electrical
7 transmission capacity , adequate water and gas res ource s, and data connectivity .
8 3. The department of economic development shall cr eate a fast-track advanced
9 permitting pro cess for sites within the zones designated under this section.
10 4. The department of economic development in cooperation with the department
11 of natural r esources shall prep are and publish a r eport on the website by January
12 fifteenth each year that includes, but is not limited to, utility readi ness, capacity , and
13 deficits of the zones.
14 5. (1) The public service commission shall cooperate with the department of
15 economic development to identify an electrical corporation in small-scale or pilot
16 innovative technology pr ojects including, but not limited to, ren ewable generation,
17 micr o grids, or energy storage, if the small-scale or pilot pr oject is designed to advance
18 the electrical cooperation's operational knowledge of deploying such technologies,
19 including to gain efficiencies that res ult in customer savings and benefits as the
20 technology is scaled acro ss the grid or network. The technologies shall be used within
21 the manufacturing opportunity zones to maintain sufficient capacity to meet the on-
22 going demand. The department of economic development may transfer funds fr om the
23 manufacturing opportunity zone utility fund established under subsection 6 of this
24 section to the public service commission to establish access to utilities that are missing
25 fr om the manufacturing opportunity zones.
26 (2) For purposes of this subsection, "electrical corporation" shall mean the same
27 as defined in section 386.020, but shall not include an electrical corporation as described
28 in subsection 2 of section 393.1 10.
29 (3) The department of economic development shall cooperate with the public
30 service commission to develop rules and regu lations as req uired for the administration
31 of this subsection.
32 6. (1) Ther e is hereby cr eated in the state trea sury the "Manufacturing
33 Opportunity Zone Utility Fund". Moneys deposited in the fund shall consist of moneys
34 collected fr om a one-percen t user fee charged on all electric, water , and gas within the
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35 manufacturing opportunity zone and any amounts which may be rece ived fr om grants,
36 gifts, bequests, the state or federal government, or any other source.
37 (2) The state tr easurer shall be custodian of the fund. In accordance with
38 sections 30.170 and 30.180, the state tr easurer may appr ove disbursements. The fund
39 shall be a dedicated fund and, upon appro priation, moneys in this fund shall be used
40 solely for the purposes as pro vided in this section.
41 (3) Notwithstanding the pro visions of section 33.080 to the contrary , any moneys
42 r emaining in the fund at the end of the biennium shall not r evert to the credit of the
43 general reven ue fund.
44 (4) The state tre asurer shall invest moneys in the fund in the same manner as
45 other funds ar e invested. Any interes t and moneys earned on such investments shall be
46 cr edited to the fund.
47 7. The department of economic development shall develop and implement a
48 single-purpose small business loan guarantee prog ram under this section to supplement
49 the federal guarantees for manufacturing investments in the manufacturing opportunity
50 zones. A ten-per cent guarantee not to exceed a total combined guarantee of ninety
51 per cent shall be available to all small business association loans taken out by
52 manufacturing or technology companies within the manufacturing opportunity zone.
53 8. The department of economic development shall promul gate rules and
54 r egulations necessary to carry out the pr ovisions of this section. The rules and
55 r egulations shall be designed to encourage maximum involvement and participation by
56 lenders and financial institutions in the loan guarantee pr ogram and the eligibility
57 r equir ements of the applicants. Any rule or portion of a rule, as that term is defined in
58 section 536.010, that is crea ted under the authority delegated in this section shall
59 become effective only if it complies with and is subject to all of the provi sions of chapter
60 536 and, if applicable, section 536.028. This section and chapter 536 are nonseverable
61 and if any of the powers vested with the general assembly pursuant to chapter 536 to
62 r eview , to delay the effective date, or to disappr ove and annul a rule are subsequently
63 held unconstitutional, then the grant of rulemaking authority and any rule pr oposed or
64 adopted after August 28, 2026, shall be invalid and void.
✔
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