Bill Text: MO HB2044 | 2012 | Regular Session | Introduced
Bill Title: Establishes the Incentives Regionalization Act to provide economic incentives to induce employers to relocate from Kansas to Missouri or from Missouri to Kansas
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2012-04-24 - Public Hearing Scheduled, Bill not Heard (S) [HB2044 Detail]
Download: Missouri-2012-HB2044-Introduced.html
SECOND REGULAR SESSION
96TH GENERAL ASSEMBLY
INTRODUCED BY REPRESENTATIVES HOLSMAN (Sponsor), RIZZO, McMANUS, TORPEY, SWEARINGEN, McCANN BEATTY, MORGAN, ANDERS, ZERR, BERRY, SILVEY, TALBOY, CIERPIOT, SOLON, McDONALD, ELLINGTON, LAUER AND HUGHES (Co-sponsors).
6260L.01I D. ADAM CRUMBLISS, Chief Clerk
AN ACT
To amend chapter 620, RSMo, by adding thereto one new section relating to the incentives regionalization act.
Be it enacted by the General Assembly of the state of Missouri, as follows:
Section A. Chapter 620, RSMo, is amended by adding thereto one new section, to be known as section 620.1935, to read as follows:
620.1935. 1. This section shall be known and may be cited as the "Incentives Regionalization Act".
2. As used in this section, the following terms mean:
(1) "Distance moved", after an interstate move, the distance between the easternmost point of the property in Kansas constituting an existing or new business location and the westernmost point of the property in Missouri constituting an existing or new business location;
(2) "Economic incentives", any incentive whether in the form of tax abatement, tax credits, or other benefit granted by the state or local government to induce an employer to locate within its jurisdiction;
(3) "Employer", a company or other business entity employing more than ten employees;
(4) "Existing business location", the property at which an employer employs the largest number of employees being moved prior to an interstate move;
(5) "Interstate move", the relocation of an employer from Kansas to Missouri or from Missouri to Kansas;
(6) "New business location", the property at which an employer employs the largest number of employees moved after an interstate move.
3. If the state of Kansas adopts legislation which, in the opinion of the director of the department of economic development, is substantially similar to this section, any law in either state to the contrary notwithstanding, whenever an employer engages in an interstate move, the granting of economic incentives to such employer shall be directly proportional to the distance moved. An employer moving thirty miles or more may receive the maximum economic development incentives allowed under law. An employer moving less than such distance shall receive no more than a fraction of the maximum economic incentives allowed by law in the state to which it moves, the numerator of such fraction shall be the number of miles moved and the denominator shall be thirty.
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