Chapter 100 of the Missouri Statutes is a tax-incentive plan that allows counties and cities to issue revenue bonds to finance the projects of companies that intend to build or expand facilities. The companies then purchase the bonds, and the city or county repays the bonds, which in turn, makes the projects public and exempt from property tax.
Regional Economic Development Inc. has recommended that companies that benefit from the bonds offer a payment in lieu of tax, of no less than 50 percent of the property tax they would normally pay.
Two types of expansion projects will be eligible for incentives. Companies in Boone County must make a minimum $7.5 million investment. Companies new to the county must be a life sciences company and make a $15 million investment, under the option likely to pass Thursday.