SB 165 - This act revises certain tax credits available to new and expanded businesses located within enterprise zones. Existing law prohibits certain new businesses from qualifying for tax credits after the initial ten year period, even if they expand the business. This act would allow such businesses to qualify for additional years if they are otherwise eligible.

Taxpayers are allowed to apply any credit to amounts due under the corporations franchise tax (Chapter 147, RSMo) and the financial institutions tax (Chapter 148, RSMo). The credits could also be available to shareholders or partners of the business. A section that specified the order in which tax credits must be taken is repealed.

A termination date of 2008 on the Community College Job Training Program Fund is extended to 2018 and the Department of Economic Development is authorized to contract with certain technology based entities without adhering to state bidding procedures.

The act has an emergency clause.

DAVID VALENTINE