Missouri Revised Statutes
Chapter 620 - Department of Economic Development
Section 620.2475 - Aerospace projects, certain state benefits considered in determining aggregate benefits eligibility — reports.

Effective - 28 Aug 2019, 2 histories
620.2475. Aerospace projects, certain state benefits considered in determining aggregate benefits eligibility — reports. — 1. As used in this section, the following terms shall mean:
(1) "Aerospace project", a project undertaken by or for the benefit of a qualified company with a North American Industry Classification System industry classification of 3364 involving the creation of at least two thousand new jobs within ten years following the approval of a notice of intent pursuant to section 620.2020 and for which the department of economic development has provided a proposal for benefits under job creation, worker training, and infrastructure development programs on or before June 10, 2014;
(2) "Job creation, worker training, and infrastructure development programs", the Missouri works program established under sections 620.2000 to 620.2020, the Missouri business use incentives for large-scale development act established under sections 100.700 to 100.850, the Missouri one start training program established under sections 620.800 to 620.809, and the real property tax increment allocation redevelopment act established under sections 99.800 to 99.865.
2. Provisions of law to the contrary notwithstanding, no benefits authorized under job creation, worker training, and infrastructure development programs for an aerospace project shall be considered in determining compliance with applicable limitations on the aggregate amount of benefits that may be awarded annually or cumulatively under subdivision (3) of subsection 10 of section 99.845, subsection 5 of section 100.850, subsection 9* of section 620.809, and subsection 7 of section 620.2020. No aerospace project shall be authorized for state benefits under job creation, worker training, and infrastructure development programs that exceed, in the aggregate, one hundred fifty million dollars annually under all such programs.
3. For any aerospace project receiving state benefits under this section, the department of economic development shall deliver to the general assembly an annual report providing detailed information on the state benefits received and projected to be received by the aerospace project and shall also denote the number of minorities that have been trained under the Missouri one start training program established under sections 620.800 to 620.809.
4. Any aerospace project receiving benefits under this section shall annually report to the general assembly and the department of economic development its minority and women employment outreach efforts.
5. For aerospace projects receiving benefits under this section, in no event shall disbursements of new state revenues under sections 99.800 to 99.865 be made to satisfy bond obligations incurred for improvements that do not directly benefit such project.
6. For aerospace projects receiving benefits under this section, in the tenth year following the approval of a notice of intent under sections 620.2000 to 620.2020, the department of economic development shall determine the net fiscal benefit to the state resulting from such project and shall take any action necessary to ensure a positive net fiscal benefit to the state by no later than the last year in which the aerospace project receives benefits under this section.
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(L. 2013 1st Ex. Sess. S.B. 1, A.L. 2019 S.B. 68)
*Statutory reference to subsection "8" changed to "9" in accordance with section 3.060 based on renumbering in section 620.809 by H.B. 2400, 2022.

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Structure Missouri Revised Statutes

Missouri Revised Statutes

Title XL - Additional Executive Departments

Chapter 620 - Department of Economic Development

Section 620.010 - Department of economic development created — divisions — agencies — boards and commissions — personnel — powers and duties — rules, procedure.

Section 620.014 - Records on financial investments, sales or business plans to be deemed closed records, when.

Section 620.015 - Administrative fund, uses, administration of.

Section 620.016 - Job training or development contracts or reimbursement for services, department to reimburse contractors.

Section 620.017 - Grants, loans or other financial assistance or services programs, funds to be used solely for required purpose, certain information required — failure to comply, funds must be repaid to department, contract law governs — annual repo...

Section 620.020 - Business relocating outside state to be furnished information and alternatives on request.

Section 620.030 - Department's authority to contract with certain entities and organizations for technology and technology development services.

Section 620.035 - Duties as to energy activities — department may enter into contracts and agreements, when.

Section 620.171 - Export development office created, purpose — powers and duties.

Section 620.450 - Executive department to promote tourism.

Section 620.455 - Tourism commission, members, qualifications, terms, reports required, expenses.

Section 620.460 - Director, qualifications, compensation — staff, compensation — employed under merit system.

Section 620.465 - Powers of division.

Section 620.466 - Definitions — tourism marketing fund, established, purpose, administration, investment — powers of tourism commission — royalty payments required, when — state exemption from taxes.

Section 620.467 - Division of tourism supplemental revenue fund created — use of fund — lapse to general revenue prohibited — funding — effective and expiration dates.

Section 620.484 - Free public employment offices.

Section 620.490 - Rulemaking authority, coordination of state and federal job training resources.

Section 620.495 - Small business incubator program — definitions — tax credit.

Section 620.500 - Small business assistance office established in department — regional offices — staff duties.

Section 620.503 - Small business assistance offices established in institutions of higher education to contract with department, purposes, procedure.

Section 620.511 - Board established, purpose, meetings, members, terms, compensation for expenses.

Section 620.512 - Bylaws to be established — restriction on operations of board — rulemaking authority.

Section 620.513 - Duties of the board, report — limitation on authority.

Section 620.515 - Show-Me heroes program established to assist active duty military personnel and members of the National Guard and their families — eligibility, benefits, grants — rulemaking authority.

Section 620.552 - Citation of law.

Section 620.554 - Youth service and conservation corps established.

Section 620.556 - Definitions.

Section 620.558 - Programs — participation.

Section 620.560 - Community services and conservation program.

Section 620.562 - Summer employment program — at-risk participants, remediation.

Section 620.564 - Youth volunteer program.

Section 620.566 - Administration of programs — rules and regulations — application, contents, review.

Section 620.568 - Administration by project sponsor — administrative expenses.

Section 620.570 - Evaluation of programs — interagency cooperation — "Show-Me" employers.

Section 620.572 - Allocations for operation of corps.

Section 620.574 - Youth service and conservation corps fund created — sources, administration.

Section 620.580 - Citation of law.

Section 620.582 - Definitions.

Section 620.584 - Commission assigned to department of economic development — purpose of commission.

Section 620.586 - Commission members, terms, expenses, officers, meetings.

Section 620.588 - Commission powers and duties.

Section 620.590 - Information sharing and cooperation — coordination of effort, when.

Section 620.592 - Fund created, use of moneys — annual report.

Section 620.635 - Title of law.

Section 620.638 - Definitions.

Section 620.641 - Transfer of board duties to Missouri technology corporation.

Section 620.644 - Development of Missouri seed capital and commercialization strategy, required contents — no tax credits issued until corporation approves strategy tax credit maximum — corporation to approve managers of qualified funds — rulemaking...

Section 620.647 - Corporation to authorize contractual agreements for qualified economic development organizations — qualified funds to contract with at least one qualified economic development organization, required provisions — payment of distribut...

Section 620.650 - Purpose of qualified funds — tax credit for qualified contribution to qualified fund, amount, application, restrictions — tax on qualified funds uninvested capital, amount, distributions deemed made at end of tax year.

Section 620.653 - Corporation to approve one qualified fund — transfer of powers — corporation to approve professional fund manager for the qualified fund it approves.

Section 620.750 - Grants authorized, qualified rural regional development groups, duties — grant procedure — use of grant moneys — report — rulemaking authority.

Section 620.800 - Definitions.

Section 620.803 - Training program established, purpose, funding — rulemaking authority — bankruptcy, notification required — repayment of benefits, when.

Section 620.806 - Missouri one start job development fund established, use of moneys — rulemaking authority.

Section 620.809 - Community college funds created, use of moneys — forms — establishment of projects, procedure, requirements — funding options — issuance of certificates — sunset provision.

Section 620.850 - Citation of law — definitions — commission established, members, bylaws — report, contents — grant program — fund, use of moneys — rules.

Section 620.990 - Bylaws and rules authorized.

Section 620.1000 - Definitions.

Section 620.1001 - Small business development fund created — distribution — lapse into general revenue prohibited, exception — interest and income to be credited to fund.

Section 620.1003 - Centers, duties and powers.

Section 620.1005 - Governmental agencies to supply reports, statistical data and other materials — publication of data by director, costs.

Section 620.1007 - Annual report to whom.

Section 620.1020 - Business extension service team program created, purpose, duties — expenses.

Section 620.1023 - Business extension service team fund created — qualified community development projects — department's authority to contract directly, purpose — lapse into general revenue prohibited.

Section 620.1025 - Director, duties.

Section 620.1027 - Teams, duties.

Section 620.1028 - Selection of team members — factors, provision of productivity assessment.

Section 620.1029 - Rulemaking, procedure — information relating to request for assistance from business extension service team to be confidential.

Section 620.1030 - New jobs fund created — sources, uses, conditions — conditional effective date.

Section 620.1037 - Twenty-first century communities demonstration project established — purpose — rulemaking, procedure.

Section 620.1039 - Qualified research expenses —definitions — tax credit, exception — certification by director of economic development — transfer of credits, application, restrictions and procedure — rules — limitations on credit — sunset provision.

Section 620.1045 - Citation of law.

Section 620.1048 - Definitions.

Section 620.1051 - Program loss reserve account set aside, amount — certification, transfer of amount — recovery of losses.

Section 620.1053 - Deposit of funds, interest — control of account — use of funds.

Section 620.1055 - Capital access program fund created.

Section 620.1058 - Use of loans — amount — limitation.

Section 620.1060 - Prohibited loans — definitions.

Section 620.1063 - Withdrawal from program, effect — withdrawal of funds — examination of accounts authorized.

Section 620.1066 - Rulemaking procedure.

Section 620.1069 - Microenterprise loan program — definitions, purpose — oversight committee, duties.

Section 620.1072 - Microenterprise loan fund created — purpose — lapse into general revenue prohibited — percentage to be reserved for female-owned microenterprises.

Section 620.1075 - Standards for eligibility of lenders and borrowers — rules promulgation procedure — rules invalid, when.

Section 620.1078 - Distribution of moneys — interest — categories of permissible loans.

Section 620.1081 - Determination of basic policy, rules.

Section 620.1100 - Youth opportunities and violence prevention program established, purpose — advisory committee defined, members, appointment — fund, establishment, administration — program criteria, evaluation — database, development, operation.

Section 620.1103 - Department may assign moneys, limitations — agreement, audit authorized — repayment of funds.

Section 620.1200 - Missouri film commission established — members — terms — compensation, reimbursement — duties — recommendations submitted, when.

Section 620.1210 - Commission duties and objectives — coordination with local film offices.

Section 620.1220 - Location of commission, promotion of film by other state agencies, transfers of staff by other agencies.

Section 620.1230 - Personnel provided by department of economic development.

Section 620.1240 - Administration by director, rulemaking authority.

Section 620.1300 - Cost benefit analysis on certain programs, selection of analyzing firm, distribution of analysis — subjects analyzed.

Section 620.1350 - Investment funds service corporation may make annual election to compute income derived within state — procedure.

Section 620.1355 - Director to certify corporations — factors to be considered — certificate issued when — failure to qualify, applicant's right of appeal — nonresident corporations, director may issue opinion, when.

Section 620.1360 - Application for certificate, director to develop — rules promulgation procedure — rules invalid, when.

Section 620.1500 - Governor's advisory council on agriculture science and technology created, members, duties, expenses.

Section 620.1580 - Advisory committee for electronic commerce established, members, terms, meetings.

Section 620.1620 - Major conventions — definitions — fund created — issuance of grants, procedure — report — refunds — sunset provision.

Section 620.1875 - Title of law.

Section 620.1878 - Definitions.

Section 620.1881 - Project notice of intent, department to respond with a proposal or a rejection — benefits available — effect on withholding tax — projects eligible for benefits — annual report — cap on tax credits — allocation of tax credits.

Section 620.1884 - Rulemaking authority.

Section 620.1887 - Quality jobs advisory task force created, members.

Section 620.1890 - Report to the general assembly, contents.

Section 620.1900 - Fee imposed on tax credit recipients, amount, deposited where — economic development advancement fund created, use of moneys.

Section 620.1910 - Citation of law — definitions — qualified manufacturing company and suppliers, retention of withholding taxes, when — maximum retention amount — rulemaking authority — agreement required — report required — sunset provision.

Section 620.2000 - Citation of law.

Section 620.2005 - Definitions.

Section 620.2010 - Retention of withholding tax for new jobs, when — tax credits authorized, requirements — alternate incentives.

Section 620.2015 - Relocation of business, factor in determining eligibility — benefits, requirements — written agreement required.

Section 620.2020 - Participation procedures, department duties, qualified company or qualified military project duties — maximum tax credits allowed, allocation — prohibited acts — report, contents — rulemaking authority — sunset date.

Section 620.2100 - Commission established, members — fund established — duties of commission — expiration date.

Section 620.2200 - Citation of law — commission established, members, meetings — fund created, use of moneys — report — termination date.

Section 620.2250 - Citation of law — definitions — TIME zones, procedure to establish — state withholding tax agreement, requirements — fund created, use of moneys — annual report, contents — rules.

Section 620.2300 - Definitions — applications process.

Section 620.2400 - MERVN established, management of, purpose, requirements — report required.

Section 620.2450 - Program established, expanded access to broadband internet service — definitions.

Section 620.2451 - Grants, use of moneys — recordkeeping requirements — failure to use grant moneys for specific purpose.

Section 620.2452 - Eligible applicants.

Section 620.2453 - Application, contents.

Section 620.2454 - Criteria, scoring system, and list of underserved areas, department to publish on website — challenges, evaluation of.

Section 620.2455 - Prioritization of applications — ranking of applicants, system used.

Section 620.2456 - Connect America Fund, no grants awarded — limitations on grant amount — limitations on grant requirements.

Section 620.2457 - Grant application and award information to be posted on website.

Section 620.2458 - Rulemaking authority.

Section 620.2459 - Sunset provision.

Section 620.2465 - Program to increase high-speed internet access — rules.

Section 620.2468 - Site inspection.

Section 620.2475 - Aerospace projects, certain state benefits considered in determining aggregate benefits eligibility — reports.

Section 620.2600 - Tax credit authorized — definitions — eligibility — rulemaking authority — sunset provision.

Section 620.3100 - Office to be established, purpose, subject to appropriations.

Section 620.3210 - Citation of law — definitions — fund created, use of moneys — tax credit for donations, amount, procedure, cap — rulemaking authority — sunset provision.

Section 620.3250 - Boots-to-business program, veteran-owned small businesses — assignment of a mentor — rulemaking authority.

Section 620.3300 - Citation of law — definitions — program established, purpose — fund created, use of moneys — grants — rulemaking authority.