All about business

The ruling this week overturning a new state fund for science startups is likely headed to higher court.

Attorney General Chris Koster said Wednesday he plans to file an appeal of a Cole County judge’s ruling that declared the Missouri Science and Innovation Reinvestment Act to be unconstitutional.

Circuit Judge Dan Green tossed out the law in a ruling late Monday, saying it was invalid because lawmakers included a “contingency clause” when they passed it last fall, requiring a broader tax credit reform bill to be passed before MOSIRA could take effect. The tax credit bill never passed, and opponents of MOSIRA sued when Gov. Jay Nixon started implementing the science fund.

In a statement, Koster said MOSIRA is too valuable to let die on a technicality.

“(MOSIRA) is an important economic development tool that can bring high-tech jobs to Missouri and preserve jobs that are already here,” he said. “I don’t want to see important job-creating legislation fail. We intend to appeal this matter to its conclusion.”

Supporters of MOSIRA have said they also plan to push for a clean up-or-down vote on the matter in the General Assembly this session.

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