AIM/TRIM Manufacturing Inputs Exemption Passed by Missouri Legislature

May 11, 2007 - Yesterday, the Missouri House, led by House Job Creation and Economic Development Chairman Rep. Ron Richard, voted to accept ALL Senate amendments and finally pass the omnibus economic development bill. The bill contains the AIM/TRIM Manufacturing Inputs Sales Tax Exemption, allowing manufacturers a sales tax exemption for all utilities, chemicals, machinery and equipment used in manufacturing. The exemption currently provides an exemption for all state and local sales taxes, but will likely be amended by another bill to provide the exemption only for state sales taxes to uphold an agreement reached with the Governor's office and key legislators. The agreed upon language is contained in the compromise language in SB 30 which awaits adoption by the Senate and House next week.

HB 327 also contains an increase in the tax credit limits for the Missouri Quality Jobs program (from $12 million to $30 million) and Enhanced Enterprise Zone program (from $7 million to $25 million), a ten-year extension of the New Jobs Training program, and many, many, many more provisions. The bill is 163 pages plus 53 pages of amendments - altogether 216 pages!

Although there are some problems with language that was included in the bill, the bill will be presented to Governor Blunt for signature, following the ceremonial signing of the bill by the Speaker of the House and the Senate President Pro Tem.

We applaud the efforts of Rep. Richard, Sen. John Griesheimer, and leadership of the House and Senate in passing this bill. You may download the final bill by clicking on the following link.

LINKS TO THE FINAL BILL:
Truly Agreed and Finally Passed HB 327