The Missouri House gave approval Wednesday to a revised version of the Manufacturing Jobs Act as well as legislation that overhauls the state employee pension system.
The Manufacturing Jobs Act, sponsored by Rep. Jerry Nolte, R-Gladstone, would provide incentives for automotive and transportation manufacturing companies and suppliers who create and retain Missouri jobs. The bill would provide up to $15 million per year in incentives for manufacturers who invest in a new product line and is designed to help retain 3,700 jobs provided by the Ford Motor Company plant located in Claycomo.
An amendment added to the bill by Rep. Rick Stream, R-Kirkwood, would extend the Homestead Preservation tax credit, which is set to expire this year.
Another provision of the bill added in committee would provide incentives aimed at luring data centers to locate in Missouri.
The version of the bill adopted by the House would pay for the incentives by taking unused funds from the Quality Jobs tax credit program. Proponents say the change severs the link between the Manufacturing Jobs Act and the pension overhaul that was intended to offset the costs of the incentives.
The House also approved the pension overhaul bill after adding several amendments. Sponsored by Rep. Jim Viebrock, R-Republic, HB 1 would require new state employees to contribute 4 percent of their pay toward their pension plans and increase the minimum retirement age.
The bill also contained a provision that required new state employees to be employed with the state for 10 years before qualifying for their pension. House members adopted an amendment offered Rep. Jeanne Kirkton, D-Webster Groves, to reject the change and keep the current five year requirement.
The House passed the Manufacturing Jobs Act (HB 2) by a vote of 125-19. The pension overhaul (HB 1) passed by a vote of 92-54. Both bills now move to the Senate for consideration.
Above summary provided by House Media Center.
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