Section 100.760

Title VII CITIES, TOWNS AND VILLAGES

Chapter 100

Effective - 04 Jun 2009, see footnote   

  100.760.  Credit agreement, conditions. — After receipt of an application, the board may, with the approval of the department, enter into an agreement with an eligible industry for a credit pursuant to sections 100.700 to 100.850 if the board determines that all of the following conditions exist:

  (1)  The applicant's project will create new jobs that were not jobs previously performed by employees of the applicant in Missouri;

  (2)  The applicant's project is economically sound and will benefit the people of Missouri by increasing opportunities for employment and strengthening the economy of Missouri;

  (3)  Significant local incentives with respect to the project or eligible industry have been committed, which incentives may consist of:

  (a)  Cash or in-kind incentives derived from any nonstate source, including incentives provided by the affected political subdivisions, private industry and/or local chambers of commerce or similar such organizations; and/or

  (b)  Relief from local taxes, in either case as acceptable to the board;

  (4)  Receiving the credit is a major factor in the applicant's decision to go forward with the project and not receiving the credit will result in the applicant not creating new jobs in Missouri; and

  (5)  Awarding the credit will result in an overall positive fiscal impact to the state.

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(L. 1996 H.B. 1237 § 13, A.L. 1997 2d Ex. Sess. S.B. 1, A.L. 2009 H.B. 191)

Effective 6-04-09