Senate to discuss Economic Development Bill
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Senate to discuss Economic Development Bill

Date: August 27, 2007
By: Brian Eason
State Capitol Bureau
Links: HB 1

JEFFERSON CITY - The Missouri Senate will convene Wednesday to discuss a statewide economic development bill.  The bill includes a variety of provisions, primarily dealing with tax credits for businesses and developers.

Gov. Matt Blunt, called for a special legislative session after rejecting a more expensive economic development bill during the last session.

In his veto message, Blunt said he feared the extra business tax credits would be "consumed by jobs that are less desirable than the high quality jobs the program was intended to encourage." Blunt has stressed that a renewed effort by the legislature is needed to expand the program in a responsible manner.

The jobs program, set up in 2005 through the Quality Jobs Act, is designed to promote job creation by allowing certain businesses to qualify for a tax break for creating jobs that pay above a certain level and provide health coverage.

If approved and signed into law by the governor, the new development bill would expand the maximum tax credit by $28 million, as well as give preference to businesses located within disaster areas.

Other provisions in the bill include:

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