INVEST IN MISSOURI goes to work as new Missouri Linked Deposit Program

State Treasurer Clint Zweifel's INVEST IN MISSOURI swept through both chambers of the General Assembly without a single "no" vote during the 2009 legislative session and was signed by Governor Nixon. The new Missouri Linked Deposit Program went into effect August 28, 2009.

INVEST IN MISSOURI Legislation - HB 883

Changes to Missouri Time Deposits took effect January 1, 2010.
Learn more about Missouri Time Deposits.



Strengthening communities by INVESTING IN MISSOURI

INVEST IN MISSOURI focused on creating and retaining jobs in Missouri, while reinvesting $1 billion in Missouri communities.

Missouri Linked Deposit Program Enhancements - Effective August 28, 2009
Program Name Old Program New Program
Job Enhancement Limits amount businesses can
borrow to $50,000 for each job created or retained.
Allows companies with significant capital needs to borrow $50,000 for each job, plus the amount of:
  • Capital outlay
  • Physical expansion
  • Renovation
Small Business Eligibility limited to 25 or fewer employees. Eligibility increased to fewer than 100 employees.
Farm Operation Farmers with over 60% equity ineligible. No equity limits for farmers.
Alternative Energy Consumer Not available. Allows individuals to receive Linked Deposits when installing alternative energy producing equipment.
Alternative Energy Operation Available for business producing energy for sale. Now available to businesses producing energy for sale for own use.
Local Governments Not available. Available for political subdivisions to make capital improvements or to implement significant public programs.

Putting Money Back in Missouri's Banks

Previous State law provided a disincentive for Treasurer Zweifel to place deposits with Missouri banks by artificially capping the deposit rate the State can receive on its deposits, as opposed to counties, cities and school districts that could receive the market rate. Money invested in Missouri's banks could only receive a return equal to the rate of the treasury yield, which was as low as 0.20%. Missouri was one of only two states with a restriction that limits the return for taxpayers.

INVEST IN MISSOURI removed the cap, and allowed Treasurer Zweifel to increase deposits with community banks, thereby providing millions of dollars of additional liquidity to banks who can make new loans to individuals and businesses.

This change went into effect on January 1, 2009, and the interest rate cap was phased out January 1, 2014.