Missouri legislators approve jobs bill

Missouri lawmakers on Friday wrapped up the legislative session with last-minute approval of the final version of a bill that expands the Quality Jobs program.

The program offers tax credits to companies that add jobs with at least average wages and benefits. House Bill 191 raises the cap on those credits to $80 million from $60 million.

The bill also imposes a cap on the historic preservation tax credits program for redevelopment projects that cost more than $1.1 million. The bill limits the state to approve $140 million annually in tax credits through the program, which covers 25 percent of the cost of a project.

Legislators also approved the elimination of the corporate franchise tax for 16,500 Missouri businesses.[[In-content Ad]]