Gov. Jay Nixon today signed Senate Bill 149, which provides a fiscally responsible incentive for new and expanding data centers that create jobs and make new capital investments in Missouri.
“Consistent with the fiscally responsible approach to economic development we’ve pursued from Day One, this bill will help attract high-tech data center investments and jobs – without putting our budget or taxpayers at risk,” said Gov. Nixon said. “I thank the General Assembly for including the safeguards and accountability measures necessary to protect taxpayers.”
Senate Bill 149 creates a state and local sales and use tax exemption for equipment, machinery and utilities used in new or expanding data centers. Under the bill, data processing and storage centers can also claim a tax exemption from state and local sales and use taxes for purchases of tangible personal property and materials for the construction of a new or expanding data center. Applicants for these tax exemptions must certify that the project would satisfy applicable job creation and capital investment requirements, execute repayment agreements with the state, and be subjected to random audits to ensure eligibility and compliance.