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State Treasurer Clint Zweifel's economic development legislation, Invest In Missouri, was signed by Gov. Jay Nixon on Monday, June 29, at stops in St. Louis and Kansas City. The legislation reinvests $1 billion in Missouri communities.

"Invest In Missouri is about creating and retaining Missouri jobs and reinvesting more than $1 billion in Missouri communities," Zweifel said.  "Invest In Missouri enables us to expand investments in small business, manufacturing, green technologies, family farms and community banks."

Zweifel said the legislation costs Missourians nothing and would return $10 million to $15 million per year to taxpayers' investments when fully phased in as changes to investment practices will allow taxpayers to receive a market-rate of return for the first time in 50 years.

Invest In Missouri did not register a single "no" vote in committee or on the House or Senate floors. Sen. David Pearce, R-Warrensburg, and Rep. Tim Flook, R-Liberty, sponsored the bills.

The signed legislation, which goes into effect Friday, Aug. 28, expands eligibility guidelines for the Missouri Linked Deposit Program, which places state funds with community banks at below-market interest rates so the community bank can issue loans to borrowers at a reduced rate.

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