House votes to expand Quality Jobs Program

The Missouri House of Representatives on Thursday approved HB 191, which expands the state's Quality Jobs Program.

The House approved the bill 141-19; an emergency clause in the bill, which puts its provisions into action immediately upon Gov. Jay Nixon's signature, passed by a margin of 151-5, according to a Missouri Chamber of Commerce news release.

To qualify to receive incentives through the program, companies must create new jobs that pay at least the county average wage and provide health care benefits.

The bill:

• Provides the same incentives to small businesses that larger companies have received;

• Expands the cap and sunset on the New Markets Tax Credit. The cap would be $27.5 million, up from $15 million, and the sunset would be pushed to 2012, instead of 2010;

• Allows up to $5 million in tax credits annually to court angel investors to Missouri's businesses; and

• Provides a $10 million tax credit for qualified research expenses.

The bill now moves to the Senate.

"Just weeks into the legislative session, I am pleased that the House has passed a significant job-creation bill with a strong, bipartisan vote. By expanding the successful Quality Jobs Program, we will make it easier for businesses across our state to create the high-paying jobs that will turn this economy around," Nixon said in a statement. "I look forward to working with the Senate to meet the goal of signing a comprehensive jobs plan by the legislature's March break."

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