Preliminary and Excess Tax Credits Application Evaluation—Overall Size and Quality of the Project

PURPOSE: This rule clarifies the application considerations set forth in section 253.559.3(1)(b), RSMo. (1) For purposes of evaluating a preliminary application for authorization of tax credits and an excess tax credits application for issuance of tax credits pursuant to section 253.559.3(1)(b), RSMo, the department shall evaluate the following criteria: (A) Leveraged investment ratio, as determined by the total project investment divided by the amount of tax credits requested; (B) The number of net new jobs to the state to be created by the project; (C) The average wage for new jobs to be created by the project; (D) Potential multiplier effect of the project, based on the project’s industry type (e.g., manufacturing office facilities, residential); and (E) The amount of overall project financing for which the applicant has secured firm commitments prior to submitting its preliminary application or excess tax credits application to the department. AUTHORITY: section 135.487, RSMo 2016, and sections 135.802 and 620.010, RSMo Supp. 2023.* Emergency rule filed March 20, 2019, effective March 30, 2019, expired Dec. 31, 2019. Original rule filed March 20, 2019, effective Nov. 30, 2019. Amended: Filed July 31, 2023, effective March 30, 2024. *Original authority: 135.487, RSMo 1999; 135.802, RSMo 2004, amended 2009, 2022; and 620.010, RSMo 1973, amended 1981, 1983, 1986, 1989, 1990, 1993, 1994, 1995, 1999, 2001, 2007, 2008, 2010, 2014, 2019.