Business Law

CCS#2/HCS/SCS/SB 9 – Prohibits foreign businesses from owning agricultural land if the total aggregate foreign ownership of agricultural acreage in Missouri exceeds one percent of the total aggregate agricultural acreage. Such sale, transfer, or acquisition of any agricultural land must be approved by the director of the Department of Agriculture. (Vetoed 7/2/13)

SCS/SBs 10 & 25 – Creates a refundable income and financial institutions tax credit which may be available for sports commissions, certain nonprofit organizations, counties, and municipalities to offset expenses incurred in attracting amateur sporting events to the state. (See Taxation Law) (Signed 3/29/13)

SB 60 – Changes the laws regarding the accreditation requirements for reinsurance companies to comply with the federal Nonadmitted and Reinsurance Reform Act of 2010. (Vetoed 5/17/13)

SS/SB 267 – Creates the Civil Liberties Defense Act. (See Judicial Administration)

SCS/SB 381 – Creates the Innovation Education Campus Fund to provide funding to innovation education campuses. (See Education & SchoolLaw)

SS/HB 184 – Creates the Missouri Works Program and Enhanced Enterprise Zones Tax Credit Program. (See Taxation Law)

SS/HB 253 – Reduces personal and business income taxation rates. Also affects employer income tax withholding and includes provisions relating to use tax nexus. (See Taxation Law)

SCS/HB 498 – Repeals the provision that the distribution of paid–in surplus to corporate shareholders is required to be identified as a liquidating dividend and the amount per share is required to be disclosed to the receiving shareholders when it is paid. (Signed 6/25/13)

HB 510 – Allows an operating agreement to establish a designated series of members, managers, or LLC interests with separate rights, powers, duties, business purposes, and investment objectives. Information provided for each separate series of the LLC. Liabilities of each series shall remain separate and be only enforceable with respect to that series. Certain aspects of the series, including filings, operation, and dissolution may be executed by the LLC. (Signed 7/1/13)