SB 0340 Establishes the "Missouri Veterans' Business Council" within the Department of Economic Development
LR Number:1134S.01I Fiscal Note:1134-01
Committee:Local Government and Economic Development
Last Action:02/20/01 - Hearing Conducted S Local Government & Journal page:
Economic Development Committee
Effective Date:August 28, 2001
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Current Bill Summary

SB 340 - This act establishes the Missouri Veterans' Business Council within the Department of Economic Development. The Council will consist of fifteen members each serving staggered terms of four years. Members of the council will be appointed by the Governor with the advice and consent of the Senate.

Duties of the Council include: identifying and certifying businesses owned by veterans and disabled veterans; conducting initial reviews of state policies and programs as they impact veteran owned businesses and disabled veteran owned businesses; monitoring legislative proposals; providing public information; establishing a microloan revolving loan program; writing and accepting grants; developing an outreach program; maintaining working relationships with governmental agencies; providing seed capital money for start-up veteran and disabled veteran owned businesses; and administering the Missouri Veterans' Business Council Fund.

This act allows a tax credit to a taxpayer equal to fifty percent of the money or property the taxpayer contributed to a Missouri Veterans' Business Council Fund not to exceed two million dollars per year in the aggregate.