House committees approve three noteworthy business bills

Three significant business bills passed out of committee in the Missouri House of Representatives this week.

The Missouri Chamber of Commerce and Industry testified in support of these bills and will continue advocating for their passage as they reach the House floor. Fortunately, two of these bills were passed as “consent,” putting them on the fast track for approval in the House.

In addition to House passage, all three bills must also be approved by the Missouri Senate as well before going to the governor for a final endorsement.

  • Ending the jobs border war with Kansas: HB 1646 and HB1515: This week, the House Special Standing Committee on Small Business passed these bills which seek to end the practice of giving generous relocation incentives to border jumping companies. In House testimony last week, the Hall Family Foundation in Kansas City announced that enticing companies to cross the Missouri/Kansas border, to either side, has cost both states a combined $217 million. The bills are sponsored by Rep. Tim Jones, R-Eureka, and Rep. Kevin McManus, D-Kansas City. They were passed as consent.
  • Funding transportation, HJR 68: With Missouri’s funding for transportation just years away from seeing a huge cut, the Missouri House Committee on Transportation has endorsed a proposal to fund future transportation needs with a 1 percent sales tax. The tax, sponsored by Rep. Dave Hinson, R-St. Clair, would need approval by Missouri voters and would sunset after 10 years without additional voter approval. Without additional funding, by 2017 Missouri will not have enough funding to continue maintaining our existing infrastructure.
  • Picking up the sales tax tab, HB 1296: It is currently illegal in Missouri for sellers to entice buyers with an offer to pick up the sales tax tab. But House Bill 1296, which was passed as a consent bill this week by the House Ways and Means Committee, would change that. The bill allows these transactions to happen as long as the seller provides an invoice or receipt showing how the sales tax would be absorbed into the total purchase price. The bill is sponsored by Rep. Andrew Koenig, R-Manchester.

For more information on unclaimed property, please contact Tracy King, vice president of governmental affairs for the Missouri Chamber of Commerce and Industry, at 573-634-3511 or tking@mochamber.com.

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