August 23 - The Missouri House today gave first round approval to the economic development bill, HB 1. The bill contains the Quality Jobs program cap increase and the "rebuttable presumption" that auto makers are entitled to the electrical energy sales tax exemption. Both provisions were supported by Associated Industries of Missouri and the Taxpayers Research Institute of Missouri. You may find a copy of the bill here.The "rebuttable presumption" language simply codifies an existing procedure that was agreed upon by a subcommittee of the Associated Industries of Missouri Tax Committee and the Missouri Department of Revenue. The agreement, and this statutory change, will save automakers hundreds of thousands of dollars annually in unnecessary bookkeeping costs. All automakers in Missouri are already eligible for the exemption and would continue to be eligible under the bill.
Although there were many amendments offered, only one amendment was found to be in order and passed by the House, a technical correction in the title of the bill. The emergency clause was NOT adopted in the House. The new caps for Quality Jobs, the "rebuttable presumption" language, and all other provisions of the bill will become effective ninety days after the end of the special legislative session.
Rep. Ron Richard handled the bill expertly to pass the bill in a bipartisan fashion. The bill now moves to the Senate for consideration next week.
