JEFFERSON CITY, Mo. - As the 2011 legislative session begins, state Rep. Jerry Nolte, R-Gladstone, has filed legislation designed to improve the business climate in Missouri without adding to the state’s budget shortfall. Nolte, who chairs the Missouri House Committee on International Trade and Job Creation, pointed to several bills he is sponsoring as important changes that need to be made to help Missouri retain and attract businesses.
“As we look at ways to bring more jobs for Missouri families, we must create a business-friendly environment in our state,” said Nolte. “We’ve had a tough time competing with other states that are able to offer lower regulatory and tax burdens. We need to give our businesses a level playing field in that competition.”
Legislation introduced by Nolte would reduce the tax burden on small and medium sized businesses. House Bill 78 provides relief by allowing them to deduct a percentage of business income from their taxable income. Missouri is one of a few states that imposes both a corporation income tax (a tax on income) and a franchise tax (levied on assets, regardless of profitability). Another bill (HB 76) would put a cap on the franchise tax and would encourage businesses to potentially put more of their assets in Missouri.
“To attract businesses and to keep the ones we have, we need to keep our tax burden low and competitive with other states. The economic gains that will result from attracting new businesses will help bring more jobs to Missouri,” said Nolte.
Another part of Nolte’s legislative package would protect workers and businesses by providing additional liability protection. House Bill 91 would restore co-employee liability protection in Missouri’s Workers Compensation Act taken away last summer by the courts. This bill addresses an issue raised last year when a court ruling allowed an injured worker to sue a co-worker after already settling a workers' compensation claim against his employer. Nolte’s legislation would prevent such lawsuits unless an employee is injured by the purposeful, affirmatively dangerous conduct of another employee.
HB 61, pre-filed by Nolte, would prohibit the state minimum wage from exceeding the federal minimum wage. Missouri is one of a few states that sets automatic accelerators to their minimum wage increasing the cost of hiring workers above that of every other state in the area except Illinois. Missouri’s minimum hourly wage is currently $7.25, which is the same rate as the federal minimum wage; passage of this bill would not decrease any worker’s pay. Nolte said, “It is important that it is not significantly more expensive to hire people and do business in Missouri than in almost any other state in our region.”
“Missouri families expect us to create jobs while being fiscally responsible. These measures promote a pro-business environment that makes Missouri attractive to companies from all over the globe to create jobs, without breaking our budget. Missouri families must live within their means; our state must do the same.”
Nolte’s bills await assignment to committee for discussion. The 2011 legislative session began Wednesday, Jan. 5.
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