Governor Kehoe Signs Missouri Innovation, Public Safety and Accountability Act into Law

Governor Mike Kehoe has signed House Bill 3231 into law, a key legislation aimed at enhancing economic development across Missouri. Discover how this law will revitalize main streets and support growth statewide.

On Monday, Governor Mike Kehoe signed House Bill (HB) 3231 into law, a priority piece of legislation impacting economic development efforts across the State of Missouri.  

“Missouri is open for business, growth, and opportunity,” said Governor Kehoe. “The passage of House Bill 3231 was critical in our efforts to continue revitalizing Missouri’s main streets, central business districts, and downtowns, that includes St. Louis. I want to thank the members of the General Assembly for supporting these economic development programs that lay the groundwork for long-term prosperity in communities across our state.” 

HB 3231, sponsored by Representative Brad Christ and Senator Kurtis Gregory, establishes the “Missouri Innovation, Public Safety and Accountability Act” and modifies provisions relating to financial incentives for economic development.

• Creates a new incentive within the Missouri Works program to encourage new capital investment over $50 million.
• Expands the tools available to encourage development in urban and rural communities by reauthorizing the Missouri Downtown Economic Stimulus Act (MODESA) and creating the Missouri Innovation Zone program to encourage investment in downtowns, central business districts, and main streets.
• Creates an angel investment tax credit to encourage investments in Missouri entrepreneurs and startup companies.

Governor Kehoe also signed:

• Senate Bill 916, sponsored by Senator Jamie Burger and Representative Cameron Parker, modifies provisions relating to sovereign immunity.

“Missouri is open for business, growth, and opportunity,” said Governor Kehoe. “The passage of House Bill 3231 was critical in our efforts to continue revitalizing Missouri’s main streets, central business districts, and downtowns. I want to thank the members of the General Assembly for supporting these economic development programs that lay the groundwork for long-term prosperity in communities across our state.” 

HB 3231, sponsored by Representative Brad Christ and Senator Kurtis Gregory, establishes the “Missouri Innovation, Public Safety and Accountability Act” and modifies provisions relating to financial incentives for economic development.

• Creates a new incentive within the Missouri Works program to encourage new capital investment over $50 million.
• Expands the tools available to encourage development in urban and rural communities by reauthorizing the Missouri Downtown Economic Stimulus Act (MODESA) and creating the Missouri Innovation Zone program to encourage investment in downtowns, central business districts, and main streets.
• Creates an angel investment tax credit to encourage investments in Missouri entrepreneurs and startup companies.

Governor Kehoe also signed:

• Senate Bill 916, sponsored by Senator Jamie Burger and Representative Cameron Parker, modifies provisions relating to sovereign immunity.

Contact: Gabby Picard

Communications Director

#Missouri #HouseBill3231 #EconomicDevelopment #MissouriBusiness #Revitalization #MainStreetMissouri #DowntownRevival #MissouriGrowth #BusinessOpportunities #GovernorKehoe