Governor Parson Completes Bill Signings With Rural Business Action

With the signing of Senate Bill 802 on July 11^th, Governor Mike Parson has taken final action on this year’s legislation.

Senate Bill 802 was signed into law on July 11.

Senator Curtis Trent of Battlefield says this measure will modify provisions relating to business investment incentives…

“Six year tax credit beginning in the year that the initial investment is made. The tax credit is non-refundable and may be carrier forward into any of the 5 subsequent tax years.”

Senate Bill 802 is geared toward small, rural Missouri businesses.

During the committee hearing on Senate Bill 802, Sen. Tracy McCreery of St. Louis County pointed out her concerns…

“Investment groups that may be interested….I feel like….I’m trying to understand that 100 and that 30…because we’re setting it up for only some investors to be eligible.”

Senate Bill 802 will become law on August 28th.

No legislation, minus some line items in appropriations bills, was vetoed this year.

Only one proposal will become law without receiving the governor’s signature.