The Missouri Supreme Court has upheld a decision striking down a 2011 law that created an incentive fund for science and technology-based businesses.
In a unanimous ruling Tuesday, the court said the law was unconstitutional because the Legislature linked it to an unrelated bill about tax credits. That separate bill ultimately did not pass during a 2011 special session.
The measure would have used revenues generated by a group of science and high-tech companies to create a pool to lure more such companies to Missouri and to keep the ones already here from leaving. State Senator Luann Ridgeway (R, Smithville) is not happy with the ruling.
A Missouri trial judge has struck down a state fund designed to offer state incentives to science or technology companies.
During a special legislative session last fall, lawmakers approved the Missouri Science and Innovation Reinvestment Act, also often referred to as MOSIRA. The measure contained a clause that the law would not take effect without the passage of a separate measure, which was not approved.
Those challenging the science fund included the Missouri Roundtable for Life and Missouri Right to Life.
Governor Jay Nixon (D) says his administration wisely handled the vetting of a Los Angeles-based company that began building an artificial sweetener plant in Moberly, then pulled out after missing its bond payment to the small northeast Missouri town.
Moberly officials told a State House committee this week that the governor’s Department of Economic Development withheld emails from a DED consultant revealing that he could not verify whether Mamtek had a functioning plant in China. Nixon did not address that accusation when talking with reporters today, but he did say no taxpayer dollars went to Mamtek.
Missouri Gov. Jay Nixon has signed legislation directing state money to help new companies doing business in science or technology fields.
The measure signed Friday creates a fund to offer incentives to companies that conduct research or make products related to agricultural biotechnology, veterinary medicine, biochemistry, forestry, homeland security, information technology and pharmaceuticals. The fund would be overseen by the Missouri Technology Corp.
Missouri lawmakers have quit working this week without agreeing on the details of a bill overhauling Missouri's tax credits and business incentives that had been touted as the marquee issue of a special session that began Sept. 6. There seems to be little chance of resolving the stalemate, but the two chambers did agree to keep the special session going in case a compromise can be reached later.