100.730. Establishment of procedures to determine eligible industries--authority to request information. - Missouri Statutes

Establishment of procedures to determine eligibleindustries--authority to request information.

100.730. 1. The department, in conjunction with the board, shallestablish the procedures and standards for the determination and approvalof eligible industries and their economic development projects by thepromulgation of rules or regulations in accordance with sections 100.700 to100.850, chapter 536, RSMo, and section 620.1066, RSMo. These rules orregulations shall mandate the evaluation of the credit worthiness ofeligible industries, the number of new jobs to be provided by an economicdevelopment project to residents of the state, and the likelihood of theeconomic success of the economic development project. No economicdevelopment project which will result in the replacement of facilitiesexisting in the state shall be approved by the board.

2. With respect to each eligible industry making an application tothe board for incentives, and with respect to the economic developmentproject described in the application, the board shall request relevantinformation, documentation and other materials and make inquiries of theapplicant as necessary or appropriate. After a diligent review of relevantmaterials and completion of its inquiries, the board may by resolutiondesignate an economic development project.

(L. 1996 H.B. 1237 § 10)

CROSS REFERENCE:

Tax Credit Accountability Act of 2004, additional requirements, RSMo 135.800 to 135.830