CCS/HCS/SB 302 - This act modifies several provisions relating to financial incentives for job creation.
This act exempts professional service contracts from the requirement that any expenditure made by a port authority that is over $25,000 be competitively bid. (Section 68.057).
This provision is identical to HB 629 (2017).
This act also modifies the Advanced Industrial Manufacturing Zones Act by changing the definition of "new job" to a job for which an employee is paid at or above the county average wage rather than the state average wage if the county average wage is lower than the state average wage.
This act allows a port authority to establish an AIM zone in an area within the port authority's ownership or control, and allows a port authority to expand or contract the area of an AIM zone by resolution. (Section 68.075)
This provision is identical to HB 811 (2017) and to a provision contained in CCS#2/HCS/SCS/SB 112 (2017), CCS/HCS/SB 283 (2017), and HCS/SCS/SB 399 (2017).
ENHANCED ENTERPRISE ZONES
Currently, property tax exemptions for property located in an enhanced enterprise zone may not be granted for a period longer than twenty-five years from the date on which the enhanced enterprise zone was created. This act removes the language that limits the exemption to the date on which the zone is created. This act also requires that no exemption be granted during the final ten years of an enhanced enterprise zone for a period longer than ten years. (Section 135.963)
This provision is identical to SCS/SB 426 (2017) and to a provision contained in CCS/HCS/SB 111 (2017).
This act gives the Public Service Commission the authority to approve a special rate that is not based on an electrical corporation's cost of service for an aluminum smelting facility or steel works facility if the Commission determines the rate is in the public interest, allocates the reduced revenues to other customers, and authorizes a tracking mechanism. In order to receive such special rate, a facility shall file an application with the Commission requesting the rate, and provide information on how such special rate serves the public interest. (Section 393.355)
This act allows electrical corporations to file proposed rate or regulatory mechanisms with the Public Service Commission. If such rate or mechanism is approved by the Commission, the Commission shall not modify or eliminate such mechanism, plan, or rate during the specified term. (Section 393.356)
This act allows the Missouri Public Service Commission to utilize rate adjustment mechanisms otherwise not specifically authorized by statute to promote modernization and replacement of an electrical corporation's infrastructure. This act also allows the Commission to use partially forecasted test-years, true-ups of revenue requirement components, tracking mechanisms, grid modernization incentive mechanisms, interim rates, performance-based rate decoupling, or decisional pre-approval with post construction review for construction projects. (Section 393.1410)
This provision is substantially similar to SB 215 (2017) and to a provision contained in SCS/SB 190 (2017) and HB 628 (2017).