SB 1443 - The Missouri Works program is currently authorized to provide various incentives for the creation and retention of new and existing jobs. This act authorizes the Department of Economic Development to issue tax credits to qualified companies that expend at least $50 million in new capital investments for a project within two years of submitting a notice of intent with the Department. The Department shall respond to a notice of intent within thirty days, provided, however, that a failure to respond within thirty days shall not be construed as an approval of a notice of intent. Tax credits authorized by the act shall not exceed 2.5% of the new capital investment, and shall not exceed the least amount necessary to obtain the qualified company's commitment to initiate the project. Tax credits authorized by the act shall count toward the maximum amount of Missouri Works incentives allowed in a fiscal year as provided under current law. This act is identical to HB 2654 (2026) and is substantially similar to a provision in HCS/SS/SCS/SBs 1694 & 1688 (2026) and SS#2/SCS/HCS/HBs 3231 & 2531 (2026). JOSH NORBERG

2026 Regular Session Introduced by Jamie Burger

Missouri bill authorizes tax credits for business capital investments to incentivize in-state economic development and expansion.

Voted Do Pass S Economic and Workforce Development Committee

Legislative bill overview

SB 1443 authorizes a state tax credit for businesses making certain capital investments in Missouri. The bill creates a financial incentive mechanism to encourage companies to invest in equipment, facilities, or infrastructure within the state. Specific details about investment thresholds, credit percentages, and eligible investment categories are not provided in the available information.

Why is this important

Tax credits for capital investment are tools policymakers use to attract business expansion and economic development. Such incentives can influence where companies choose to locate or expand operations, potentially affecting job creation, tax revenue, and economic growth in the state. The fiscal impact depends heavily on how generous the credit is and how many businesses qualify.

Potential points of contention

Revenue cost vs. economic benefit: Determining whether foregone tax revenue from credits generates sufficient economic returns through job creation and future tax revenues is contentious; some view credits as corporate welfare while others see them as necessary competitive incentives

Equity concerns: Tax credits may disproportionately benefit large corporations with capital to invest while smaller businesses cannot take full advantage, raising fairness questions about public resources

Specificity and accountability: Without clear criteria for eligible investments and performance metrics, credits risk being awarded broadly without ensuring investments align with state economic priorities or achieving measurable outcomes