| Old | New | Differences | |
|---|---|---|---|
| 1 | 1 | SECONDREGULARSESSION | |
| 2 | - | HOUSECOMMITTEESUBSTITUTEFOR | |
| 3 | 2 | HOUSEBILLNO.2319 | |
| 4 | 3 | 102NDGENERALASSEMBLY | |
| 5 | - | 4638H.02C DANARADEMANMILLER,ChiefClerk | |
| 4 | + | INTRODUCEDBYREPRESENTATIVEOWEN. | |
| 5 | + | 4638H.01I DANARADEMANMILLER,ChiefClerk | |
| 6 | 6 | ANACT | |
| 7 | - | Torepealsections32.125,99.1205,100.260,100.286,100.297,100.850,135.090,135.110, | |
| 8 | - | 135.313,135.326,135.339,135.341,135.403,135.432,135.460,135.487,135.490, | |
| 9 | - | 135.500,135.503,135.505,135.508,135.516,135.523,135.526,135.529,135.530, | |
| 10 | - | 135.545,135.546,135.562,135.647,135.680,135.682,135.690,135.700,135.710, | |
| 11 | - | 135.719,135.766,135.772,135.775,135.778,135.800,135.1150,135.1180,143.119, | |
| 12 | - | 143.177,143.471,148.064,148.330,148.350,173.196,192.2015,208.770,320.092, | |
| 13 | - | 320.093,348.302,348.304,348.306,348.308,348.310,348.312,348.316,348.318, | |
| 14 | - | 348.505,447.708,620.635,620.638,620.641,620.644,620.647,620.650,620.653, | |
| 15 | - | and620.2600,RSMo,andsection348.300asenactedbysenatebillno.7,ninety-sixth | |
| 16 | - | generalassembly,firstextraordinarysession,andsection348.300asenactedbyhouse | |
| 17 | - | billno.1,ninety-fourthgeneralassembly,firstextraordinarysession,andtoenactin | |
| 18 | - | lieuthereofthirty-sixnewsectionsrelatingtotaxcredits. | |
| 7 | + | Torepealsections32.125,68.075,100.286,100.297,100.850,135.090,135.110,135.326, | |
| 8 | + | 135.339,135.341,135.432,135.460,135.487,135.490,135.550,135.562,135.600, | |
| 9 | + | 135.630,135.647,135.690,135.700,135.719,135.772,135.775,135.778,135.1125, | |
| 10 | + | 135.1150,135.1180,137.1018,143.119,143.177,143.471,148.030,192.2015, | |
| 11 | + | 208.770,348.505,and447.708,RSMo,andtoenactinlieuthereofthirty-sevennew | |
| 12 | + | sectionsrelatingtotaxcredits. | |
| 19 | 13 | BeitenactedbytheGeneralAssemblyofthestateofMissouri,asfollows: | |
| 20 | - | SectionA.Sections32.125,99.1205,100.260,100.286,100.297,100.850,135.090, | |
| 21 | - | 2135.110,135.313,135.326,135.339,135.341,135.403,135.432,135.460,135.487,135.490, | |
| 22 | - | 3135.500,135.503,135.505,135.508,135.516,135.523,135.526,135.529,135.530,135.545, | |
| 23 | - | 4135.546,135.562,135.647,135.680,135.682,135.690,135.700,135.710,135.719,135.766, | |
| 24 | - | 5135.772,135.775,135.778,135.800,135.1150,135.1180,143.119,143.177,143.471, | |
| 25 | - | 6148.064,148.330,148.350,173.196,192.2015,208.770,320.092,320.093,348.302, | |
| 26 | - | 7348.304,348.306,348.308,348.310,348.312,348.316,348.318,348.505,447.708, | |
| 27 | - | 8620.635,620.638,620.641,620.644,620.647,620.650,620.653,and620.2600,RSMo, | |
| 28 | - | 9andsection348.300asenactedbysenatebillno.7,ninety-sixthgeneralassembly,first | |
| 29 | - | 10extraordinarysession,andsection348.300asenactedbyhousebillno.1,ninety-fourth | |
| 30 | - | EXPLANATION—Matterenclosedinbold-facedbrackets[thus] intheabovebillisnotenactedandis | |
| 31 | - | intendedtobeomittedfromthelaw.Matterinbold-facetypeintheabovebillisproposedlanguage. 11generalassembly,firstextraordinarysession,arerepealedandthirty-sixnewsectionsenacted | |
| 32 | - | 12inlieuthereof,tobeknownassections32.125,100.260,100.286,100.297,100.850,135.090, | |
| 33 | - | 13135.110,135.326,135.339,135.341,135.432,135.460,135.487,135.490,135.530,135.562, | |
| 34 | - | 14135.647,135.690,135.719,135.772,135.775,135.778,135.800,135.1150,135.1180, | |
| 35 | - | 15143.119,143.177,143.471,148.064,148.330,148.350,192.2015,208.770,320.092, | |
| 36 | - | 16348.505,and447.708,toreadasfollows: | |
| 14 | + | SectionA.Sections32.125,68.075,100.286,100.297,100.850,135.090,135.110, | |
| 15 | + | 2135.326,135.339,135.341,135.432,135.460,135.487,135.490,135.550,135.562,135.600, | |
| 16 | + | 3135.630,135.647,135.690,135.700,135.719,135.772,135.775,135.778,135.1125, | |
| 17 | + | 4135.1150,135.1180,137.1018,143.119,143.177,143.471,148.030,192.2015,208.770, | |
| 18 | + | 5348.505,and447.708,RSMo,arerepealedandthirty-sevennewsectionsenactedinlieu | |
| 19 | + | 6thereof,tobeknownassections32.125,68.075,100.286,100.297,100.850,135.090, | |
| 20 | + | 7135.110,135.326,135.339,135.341,135.432,135.460,135.487,135.490,135.550,135.562, | |
| 21 | + | 8135.600,135.630,135.647,135.690,135.700,135.719,135.772,135.775,135.778, | |
| 22 | + | 9135.1125,135.1150,135.1180,137.1018,143.119,143.177,143.471,148.030,192.2015, | |
| 23 | + | 10208.770,348.505,and447.708,toreadasfollows: | |
| 37 | 24 | 32.125.1.Noruleorportionofarulepromulgatedundertheauthorityofthischapter | |
| 38 | 25 | 2shallbecomeeffectiveunlessithasbeenpromulgatedpursuanttotheprovisionsofsection | |
| 39 | 26 | 3536.024. | |
| 40 | 27 | 4 2.Undersection23.253oftheMissourisunsetact: | |
| 41 | - | 5 (1)Theprovisionsoftheprogramauthorizedundersections32.105to32.125 | |
| 42 | - | 6shallautomaticallysunsetonAugust28,2030,unlessreauthorizedbyanactofthe | |
| 28 | + | EXPLANATION—Matterenclosedinbold-facedbrackets[thus] intheabovebillisnotenactedandis | |
| 29 | + | intendedtobeomittedfromthelaw.Matterinbold-facetypeintheabovebillisproposedlanguage. 5 (1)Theprovisionsoftheprogramauthorizedundersections32.105to32.125 | |
| 30 | + | 6shallautomaticallysunsetonDecember31,2030,unlessreauthorizedbyanactofthe | |
| 43 | 31 | 7generalassembly; | |
| 44 | 32 | 8 (2)Ifsuchprogramisreauthorized,theprogramauthorizedundersections | |
| 45 | - | 932.105to32. | |
| 46 | - | ||
| 33 | + | 932.105to32.125shallautomaticallysunsetonDecemberthirty-first,sixyearsafterthe | |
| 34 | + | 10effectivedateofthereauthorizationofsections32.105to32.125; | |
| 47 | 35 | 11 (3)Sections32.105to32.125shallterminateonSeptemberfirstofthecalendar | |
| 48 | 36 | 12yearimmediatelyfollowingthecalendaryearinwhichtheprogramauthorizedunder | |
| 49 | 37 | 13sections32.105to32.125issunset;and | |
| 50 | 38 | 14 (4)Theprovisionsofthissubsectionshallnotbeconstruedtolimitorinanyway | |
| 51 | 39 | 15impairataxpayer'sabilitytoredeemtaxcreditsauthorizedonorbeforethedatethe | |
| 52 | 40 | 16programauthorizedunderthissectionexpires. | |
| 53 | - | 100.260.1.Thereareherebycreatedfourspecialfunds,tobeknownasthe | |
| 54 | - | 2"IndustrialDevelopmentandReserveFund",the"IndustrialDevelopmentGuaranteeFund", | |
| 55 | - | 3the"ExportFinanceFund",andthe"JobsNowFund",intowhichthefollowingmaybe | |
| 56 | - | 4depositedasandwhenreceivedanddesignatedfordepositinoneofsuchfunds: | |
| 57 | - | 5 (1)Anymoneysappropriatedbythegeneralassemblyforusebytheboardin | |
| 58 | - | 6carryingoutthepowerssetforthinsections100.250to100.297; | |
| 59 | - | 7 (2)Anymoneysmadeavailablethroughtheissuanceofrevenuebondsunderthe | |
| 60 | - | 8provisionsofsections100.250to100.295; | |
| 61 | - | 9 (3)Anymoneysreceivedfromgrantsorwhicharegiven,donated,orcontributedto | |
| 62 | - | 10thefundfromanysource; | |
| 63 | - | 11 (4)Anymoneysreceivedinrepaymentofloansorfromapplicationfees,reserve | |
| 64 | - | 12participationfees,guaranteefeesandpremiumpaymentsasprovidedforundersections | |
| 65 | - | 13100.250to100.297; | |
| 66 | - | 14 (5)Anymoneysreceivedasinterestondepositsorasincomeonapproved | |
| 67 | - | 15investmentsofthefund; | |
| 68 | - | HCSHB2319 2 16 (6)Anymoneysobtainedfromtheissuanceofrevenuebondsornotesbytheboard; | |
| 69 | - | 17 (7)Anymoneysthatwereintheindustrialdevelopmentfundauthorizedbythis | |
| 70 | - | 18section,theeconomicdevelopmentreserveauthorizedbysection620.215,ortheindustrial | |
| 71 | - | 19revenuebondguaranteefundauthorizedbysection620.240,respectively,asofSeptember28, | |
| 72 | - | 201985;and | |
| 73 | - | 21 (8)Anymoneysobtainedfromanyotheravailablesource. | |
| 74 | - | 22 2.Thedevelopmentandreservefund,theguaranteefund,thejobsnowfund,andthe | |
| 75 | - | 23exportfinancefundshallbeadministeredbytheboardasprovidedinsections100.250to | |
| 76 | - | 24100.297.Separateaccountsmaybecreatedwithinthedevelopmentandreservefundandthe | |
| 77 | - | 25guaranteefundformoneysspecificallyappropriated,donatedorotherwisereceivedfor | |
| 78 | - | 26industrialdevelopmentpurposes.Theboardmayalsocreatesuchotherseparateaccounts | |
| 79 | - | 27withinanyofsuchfundsasdeemednecessaryorappropriatebytheboardtocarryoutthe | |
| 80 | - | 28dutiesandpurposesofsections100.250to100.297.Allsuchseparateaccountsmaybe | |
| 81 | - | 29administeredbyacorporatetrusteeonbehalfoftheboarduponthetermsandconditions | |
| 82 | - | 30establishedbytheboard. | |
| 83 | - | 31 3.Moneysinthejobsnowfund,thedevelopmentandreservefund,theguarantee | |
| 84 | - | 32fund,andtheexportfinancefundshallbeinvestedbytheboardinthemannerprescribedby | |
| 85 | - | 33theboardandanyinterestearnedoninvestedmoneysshallaccruetothebenefitofthe | |
| 86 | - | 34respectivefund. | |
| 87 | - | 35 4.Noneofthefundsandaccountsoftheboardshallbeconsideredastatefund,and | |
| 88 | - | 36moneydepositedthereinmaynotbeappropriatedtherefrom,norshallanymoneydeposited | |
| 89 | - | 37thereinbesubjecttotheprovisionsofsection33.080. | |
| 90 | - | 38 5.Thecommissionerofadministrationshallannuallycalculatetheincreasedamount | |
| 91 | - | 39ofrevenuetothestatetreasuryduetotheprovisionsofsections135.155,135.286,[135.546,] | |
| 92 | - | 40andsubsection7ofsection620.1039,asenactedormodifiedbythisactandshallallocateup | |
| 93 | - | 41totwelvemilliondollarsofsuchrevenuetothejobsnowfund. | |
| 41 | + | 68.075.1.Thissectionshallbeknownandmaybecitedasthe"AdvancedIndustrial | |
| 42 | + | 2ManufacturingZonesAct". | |
| 43 | + | 3 2.Asusedinthissection,thefollowingtermsshallmean: | |
| 44 | + | 4 (1)"AIMzone",anareaidentifiedthrougharesolutionpassedbytheportauthority | |
| 45 | + | 5boardofcommissionersappointedundersection68.045thatisbeingdevelopedor | |
| 46 | + | 6redevelopedforanypurposesolongasanyinfrastructureandbuildingbuiltorimprovedisin | |
| 47 | + | 7thedevelopmentarea.Theportauthorityboardofcommissionersshallfileanannualreport | |
| 48 | + | 8indicatingtheestablishedAIMzoneswiththedepartmentofrevenue; | |
| 49 | + | 9 (2)"Countyaveragewage",theaveragewageineachcountyasdeterminedbythe | |
| 50 | + | 10Missouridepartmentofeconomicdevelopmentforthemostrecentlycompletedfullcalendar | |
| 51 | + | 11year.However,ifthecomputedcountyaveragewageisabovethestatewideaveragewage, | |
| 52 | + | 12thestatewideaveragewageshallbedeemedthecountyaveragewageforsuchcountyforthe | |
| 53 | + | 13purposeofdeterminingeligibility; | |
| 54 | + | 14 (3)"Newjob",thenumberoffull-timeemployeeslocatedattheprojectfacilitythat | |
| 55 | + | 15exceedstheprojectfacilitybaseemploymentlessanydecreaseinthenumberoffull-time | |
| 56 | + | 16employeesatrelatedfacilitiesbelowtherelatedfacilitybaseemployment.Nojobthatwas | |
| 57 | + | 17createdpriortothedateofthenoticeofintentshallbedeemedanewjob.Anemployeethat | |
| 58 | + | 18spendslessthanfiftypercentoftheemployee'sworktimeatthefacilityisstillconsideredto | |
| 59 | + | 19belocatedatafacilityiftheemployeereceiveshisorherdirectionsandcontrolfromthat | |
| 60 | + | 20facility,isonthefacility'spayroll,onehundredpercentoftheemployee'sincomefromsuch | |
| 61 | + | 21employmentisMissouriincome,andtheemployeeispaidatorabovethecountyaverage | |
| 62 | + | 22wage; | |
| 63 | + | 23 (4)"Relatedfacility",afacilityoperatedbyacompanyorarelatedcompanypriorto | |
| 64 | + | 24theestablishmentoftheAIMzoneinquestionlocatedwithinanyportdistrict,asdefined | |
| 65 | + | HB2319 2 25undersection68.015,whichisdirectlyrelatedtotheoperationsofthefacilitywithinthenew | |
| 66 | + | 26AIMzone. | |
| 67 | + | 27 3.AnyportauthoritylocatedinthisstatemayestablishanAIMzone.Suchzonemay | |
| 68 | + | 28onlyincludetheareawithintheportauthority'sjurisdiction,ownership,orcontrol,andmay | |
| 69 | + | 29includeanysucharea.TheportauthorityshalldeterminetheboundariesforeachAIMzone, | |
| 70 | + | 30andmorethanoneAIMzonemayexistwithintheportauthority'sjurisdictionorunderthe | |
| 71 | + | 31portauthority'sownershiporcontrol,andmaybeexpandedorcontractedbyresolutionofthe | |
| 72 | + | 32portauthorityboardofcommissioners. | |
| 73 | + | 33 4.(1)Fiftypercentofthestatetaxwithholdingsimposedbysections143.191to | |
| 74 | + | 34143.265onnewjobswithinsuchzoneafterdevelopmentorredevelopmenthascommenced | |
| 75 | + | 35shallnotberemittedtothegeneralrevenuefundofthestateofMissouri.Suchmoneysshall | |
| 76 | + | 36bedepositedintotheportauthorityAIMzonefundestablishedundersubsection5ofthis | |
| 77 | + | 37sectionforthepurposeofcontinuingtoexpand,develop,andredevelopAIMzonesidentified | |
| 78 | + | 38bytheportauthorityboardofcommissionersandmaybeusedformanagerial,engineering, | |
| 79 | + | 39legal,research,promotion,planning,satisfactionofbondsissuedundersection68.040,and | |
| 80 | + | 40anyotherexpenses. | |
| 81 | + | 41 (2)ForalltaxyearsbeginningonorafterJanuary1,2025,thecumulative | |
| 82 | + | 42amountoftaxcreditsallowedtoalltaxpayersunderthissectionshallnotexceedthe | |
| 83 | + | 43totalcapamountwhichshallbeanamountequaltotwentypercentgreaterthanthe | |
| 84 | + | 44highestannualamountoftaxcreditsredeemedinanyonepreviousfiscalyear,from | |
| 85 | + | 45fiscalyear2018tofiscalyear2024,asdeterminedandcalculatedbythedepartment. | |
| 86 | + | 46 (3)Iftheamountoftaxcreditsclaimedinataxyearunderthissectionexceeds | |
| 87 | + | 47thetotalcapdeterminedundersubdivision(2)ofthissubsection,taxcreditsshallbe | |
| 88 | + | 48allowedbasedontheorderinwhichtheyareclaimed. | |
| 89 | + | 49 5.Thereisherebycreatedinthestatetreasurythe"PortAuthorityAIMZoneFund", | |
| 90 | + | 50whichshallconsistofmoneycollectedunderthissection.Thestatetreasurershallbe | |
| 91 | + | 51custodianofthefundandshallapprovedisbursementsfromthefundinaccordancewith | |
| 92 | + | 52sections30.170and30.180totheportauthoritiesfromwhichthefundswerecollected,less | |
| 93 | + | 53thepro-rataportionappropriatedbythegeneralassemblytobeusedsolelyforthe | |
| 94 | + | 54administrationofthissectionwhichshallnotexceedtenpercentofthetotalamountcollected | |
| 95 | + | 55withinthezonesofaportauthority.Notwithstandingtheprovisionsofsection33.080tothe | |
| 96 | + | 56contrary,anymoneysremaininginthefundattheendofthebienniumshallnotreverttothe | |
| 97 | + | 57creditofthegeneralrevenuefund.Thestatetreasurershallinvestmoneysinthefundinthe | |
| 98 | + | 58samemannerasotherfundsareinvested.Anyinterestandmoneysearnedonsuch | |
| 99 | + | 59investmentsshallbecreditedtothefund. | |
| 100 | + | 60 6.Theportauthorityshallapproveanyprojectsthatbeginconstructionanddisperse | |
| 101 | + | 61anymoneycollectedunderthissection.Theportauthorityshallsubmitanannualbudgetfor | |
| 102 | + | HB2319 3 62thefundstothedepartmentofeconomicdevelopmentexplaininghowandwhensuchmoney | |
| 103 | + | 63willbespent. | |
| 104 | + | 64 7.Theprovisionofsection23.253notwithstanding,noAIMzonemaybeestablished | |
| 105 | + | 65afterAugust28,2030.AnyAIMzonecreatedpriortothatdateshallcontinuetoexistandbe | |
| 106 | + | 66coterminouswiththeretirementofalldebtsincurredundersubsection4ofthissection.No | |
| 107 | + | 67debtsmaybeincurredorreauthorizedusingAIMzonerevenueafterAugust28,2030. | |
| 94 | 108 | 100.286.1.Withinthediscretionoftheboard,thedevelopmentandreservefund,the | |
| 95 | 109 | 2infrastructuredevelopmentfundortheexportfinancefundmaybepledgedtosecurethe | |
| 96 | 110 | 3paymentofanybondsornotesissuedbytheboard,ortosecurethepaymentofanyloanmade | |
| 97 | 111 | 4bytheboardoraparticipatinglenderwhichloan: | |
| 98 | 112 | 5 (1)Isrequestedtofinanceanyprojectorexporttradeactivity; | |
| 99 | 113 | 6 (2)Isrequestedbyaborrowerwhoisdemonstratedtobefinanciallyresponsible; | |
| 100 | 114 | 7 (3)Canreasonablybeexpectedtoprovideabenefittotheeconomyofthisstate; | |
| 101 | 115 | 8 (4)Isotherwisesecuredbyamortgageordeedoftrustonrealorpersonalpropertyor | |
| 102 | 116 | 9othersecuritysatisfactorytotheboard;providedthatloanstofinanceexporttradeactivities | |
| 103 | 117 | 10maybesecuredbyexportaccountsreceivableorinventoriesofexportablegoodssatisfactory | |
| 104 | 118 | 11totheboard; | |
| 105 | - | ||
| 119 | + | 12 (5)Doesnotexceedfivemilliondollars; | |
| 106 | 120 | 13 (6)Doesnothaveatermlongerthanfiveyearsifsuchloanismadetofinanceexport | |
| 107 | 121 | 14tradeactivities;and | |
| 108 | 122 | 15 (7)Is,whenusedtofinanceexporttradeactivities,madetosmallormediumsize | |
| 109 | 123 | 16businessesoragriculturalbusinesses,asmaybedefinedbytheboard. | |
| 110 | 124 | 17 2.Theboardshallprescribestandardsfortheevaluationofthefinancialcondition, | |
| 111 | 125 | 18businesshistory,andqualificationsofeachborrowerandthetermsandconditionsofloans | |
| 112 | 126 | 19whichmaybesecured,andmayrequireeachapplicationtoincludeafinancialreportand | |
| 113 | 127 | 20evaluationbyanindependentcertifiedpublicaccountingfirm,inadditiontosuch | |
| 114 | 128 | 21examinationandevaluationasmaybeconductedbyanyparticipatinglender. | |
| 115 | 129 | 22 3.Eachapplicationforaloansecuredbythedevelopmentandreservefund,the | |
| 116 | 130 | 23infrastructuredevelopmentfundortheexportfinancefundshallbereviewedinthefirst | |
| 117 | 131 | 24instancebyanyparticipatinglendertowhomtheapplicationwassubmitted.Ifsatisfiedthat | |
| 118 | 132 | 25thestandardsprescribedbytheboardaremetandthattheloanisotherwiseeligibletobe | |
| 119 | 133 | 26securedbythedevelopmentandreservefund,theinfrastructuredevelopmentfundorthe | |
| 120 | 134 | 27exportfinancefund,theparticipatinglendershallcertifythesameandforwardtheapplication | |
| 121 | 135 | 28forfinalapprovaltotheboard. | |
| 122 | 136 | 29 4.Thesecuringofanyloansbythedevelopmentandreservefund,theinfrastructure | |
| 123 | 137 | 30developmentfundortheexportfinancefundshallbeconditioneduponapprovalofthe | |
| 124 | - | 31applicationbytheboard,andreceiptofanannualreserveparticipationfee,asprescribedby | |
| 138 | + | HB2319 4 31applicationbytheboard,andreceiptofanannualreserveparticipationfee,asprescribedby | |
| 125 | 139 | 32theboard,submittedbyoronbehalfoftheborrower. | |
| 126 | 140 | 33 5.Thesecuringofanyloanbytheexportfinancefundforexporttradeactivitiesshall | |
| 127 | 141 | 34beconditionedupontheboard'scompliancewithanyapplicabletreatiesandinternational | |
| 128 | 142 | 35agreements,suchasthegeneralagreementontariffsandtradeandthesubsidiescode,to | |
| 129 | 143 | 36whichtheUnitedStatesisthenaparty. | |
| 130 | 144 | 37 6.Anytaxpayer,includinganycharitableorganizationthatisexemptfromfederal | |
| 131 | 145 | 38incometaxandwhoseMissouriunrelatedbusinesstaxableincome,ifany,wouldbesubjectto | |
| 132 | 146 | 39thestateincometaximposedunderchapter143,may,subjecttothelimitationsprovided | |
| 133 | 147 | 40undersubsection8ofthissection,receiveataxcreditagainstanytaxotherwisedueunderthe | |
| 134 | 148 | 41provisionsofchapter143,excludingwithholdingtaximposedbysections143.191to | |
| 135 | 149 | 42143.261,chapter147,orchapter148,intheamountoffiftypercentofanyamount | |
| 136 | 150 | 43contributedinmoneyorpropertybythetaxpayertothedevelopmentandreservefund,the | |
| 137 | 151 | 44infrastructuredevelopmentfundortheexportfinancefundduringthetaxpayer'staxyear, | |
| 138 | 152 | 45provided,however,thetotaltaxcreditsawardedinanycalendaryearbeginningafterJanuary | |
| 139 | 153 | 461,1994,shallnotbethegreateroftenmilliondollarsorfivepercentoftheaveragegrowthin | |
| 140 | 154 | 47generalrevenuereceiptsintheprecedingthreefiscalyears.Thislimitmaybeexceededonly | |
| 141 | 155 | 48uponjointagreementbythecommissionerofadministration,thedirectorofthedepartmentof | |
| 142 | - | ||
| 156 | + | 49economicdevelopment,andthedirectorofthedepartmentofrevenuethatsuchactionis | |
| 143 | 157 | 50essentialtoensureretentionorattractionofinvestmentinMissouri.Iftheboardreceives,asa | |
| 144 | 158 | 51contribution,realproperty,thecontributoratsuchcontributor'sownexpenseshallhavetwo | |
| 145 | 159 | 52independentappraisalsconductedbyappraiserscertifiedbytheMasterAppraisalInstitute. | |
| 146 | 160 | 53Bothappraisalsshallbesubmittedtotheboard,andthetaxcreditcertifiedbytheboardtothe | |
| 147 | 161 | 54contributorshallbebaseduponthevalueofthelowerofthetwoappraisals.Theboardshall | |
| 148 | 162 | 55notcertifythetaxcredituntilthepropertyisdeededtotheboard.Suchcreditshallnotapply | |
| 149 | 163 | 56toreserveparticipationfeespaidbyborrowersundersections100.250to100.297.The | |
| 150 | 164 | 57portionofearnedtaxcreditswhichexceedsthetaxpayer'staxliabilitymaybecarriedforward | |
| 151 | 165 | 58foruptofiveyears. | |
| 152 | 166 | 59 7.Notwithstandinganyprovisionoflawtothecontrary,anytaxpayermaysell, | |
| 153 | 167 | 60assign,exchange,conveyorotherwisetransfertaxcreditsallowedinsubsection6ofthis | |
| 154 | 168 | 61sectionunderthetermsandconditionsprescribedinsubdivisions(1)and(2)ofthis | |
| 155 | 169 | 62subsection.Suchtaxpayer,hereinaftertheassignorforthepurposeofthissubsection,may | |
| 156 | 170 | 63sell,assign,exchangeorotherwisetransferearnedtaxcredits: | |
| 157 | 171 | 64 (1)Fornolessthanseventy-fivepercentoftheparvalueofsuchcredits;and | |
| 158 | 172 | 65 (2)Inanamountnottoexceedonehundredpercentofannualearnedcredits. | |
| 159 | 173 | 66 | |
| 160 | - | 67Thetaxpayeracquiringearnedcredits,hereinaftertheassigneeforthepurposeofthis | |
| 174 | + | HB2319 5 67Thetaxpayeracquiringearnedcredits,hereinaftertheassigneeforthepurposeofthis | |
| 161 | 175 | 68subsection,mayusetheacquiredcreditstooffsetuptoonehundredpercentofthetax | |
| 162 | 176 | 69liabilitiesotherwiseimposedbychapter143,excludingwithholdingtaximposedbysections | |
| 163 | 177 | 70143.191to143.261,chapter147,orchapter148.Unusedcreditsinthehandsoftheassignee | |
| 164 | 178 | 71maybecarriedforwardforuptofiveyears,providedallsuchcreditsshallbeclaimedwithin | |
| 165 | 179 | 72tenyearsfollowingthetaxyearsinwhichthecontributionwasmade.Theassignorshall | |
| 166 | 180 | 73enterintoawrittenagreementwiththeassigneeestablishingthetermsandconditionsofthe | |
| 167 | 181 | 74agreementandshallperfectsuchtransferbynotifyingtheboardinwritingwithinthirty | |
| 168 | 182 | 75calendardaysfollowingtheeffectivedayofthetransferandshallprovideanyinformationas | |
| 169 | 183 | 76mayberequiredbytheboardtoadministerandcarryouttheprovisionsofthissection. | |
| 170 | 184 | 77Notwithstandinganyotherprovisionoflawtothecontrary,theamountreceivedbythe | |
| 171 | 185 | 78assignorofsuchtaxcreditshallbetaxableasincomeoftheassignor,andtheexcessofthepar | |
| 172 | 186 | 79valueofsuchcreditovertheamountpaidbytheassigneeforsuchcreditshallbetaxableas | |
| 173 | 187 | 80incomeoftheassignee. | |
| 174 | 188 | 81 8.Provisionsofsubsections1to7ofthissectiontothecontrarynotwithstanding,no | |
| 175 | 189 | 82morethantenmilliondollarsintaxcreditsprovidedunderthissection,maybeauthorizedor | |
| 176 | 190 | 83approvedannually.Thelimitationontaxcreditauthorizationandapprovalprovidedunder | |
| 177 | 191 | 84thissubsectionmaybeexceededonlyuponmutualagreement,evidencedbyasignedand | |
| 178 | 192 | 85properlynotarizedletter,bythecommissioneroftheofficeofadministration,thedirectorof | |
| 179 | - | ||
| 193 | + | 86thedepartmentofeconomicdevelopment,andthedirectorofthedepartmentofrevenuethat | |
| 180 | 194 | 87suchactionisessentialtoensureretentionorattractionofinvestmentinMissouriprovided, | |
| 181 | 195 | 88however,thatinnocaseshallmorethantwenty-fivemilliondollarsintaxcreditsbe | |
| 182 | 196 | 89authorizedorapprovedduringsuchyear.Taxpayersshallfile,withtheboard,anapplication | |
| 183 | 197 | 90fortaxcreditsauthorizedunderthissectiononaformprovidedbytheboard.Theprovisions | |
| 184 | 198 | 91ofthissubsectionshallnotbeconstruedtolimitorinanywayimpairtheabilityoftheboard | |
| 185 | 199 | 92toauthorizetaxcreditsforissuanceforprojectsauthorizedorapproved,byavoteofthe | |
| 186 | 200 | 93board,onorbeforethethirtiethdayfollowingtheeffectivedateofthisact,orataxpayer's | |
| 187 | 201 | 94abilitytoredeemsuchtaxcredits. | |
| 188 | 202 | 95 9.Undersection23.253oftheMissourisunsetact: | |
| 189 | 203 | 96 (1)Thetaxcreditprovisionsoftheprogramauthorizedunderthissectionshall | |
| 190 | - | ||
| 204 | + | 97automaticallysunsetonDecember31,2030,unlessreauthorizedbyanactofthegeneral | |
| 191 | 205 | 98assembly; | |
| 192 | 206 | 99 (2)Ifsuchtaxcreditprovisionsarereauthorized,thetaxcreditprovisions | |
| 193 | - | ||
| 194 | - | ||
| 195 | - | 102 (3) | |
| 196 | - | ||
| 197 | - | ||
| 207 | + | 100authorizedunderthissectionshallautomaticallysunsetonDecemberthirty-first,six | |
| 208 | + | 101yearsaftertheeffectivedateofthereauthorizationofthissection; | |
| 209 | + | HB2319 6 102 (3)ThissectionshallterminateonSeptemberfirstofthecalendaryear | |
| 210 | + | 103immediatelyfollowingthecalendaryearinwhichtheprogramauthorizedunderthis | |
| 211 | + | 104sectionissunset;and | |
| 198 | 212 | 105 (4)Theprovisionsofthissubsectionshallnotbeconstruedtolimitorinanyway | |
| 199 | 213 | 106impairataxpayer'sabilitytoredeemtaxcreditsauthorizedonorbeforethedatethe | |
| 200 | 214 | 107programauthorizedunderthissectionexpires. | |
| 201 | 215 | 100.297.1.Theboardmayauthorizeataxcredit,asdescribedinthissection,tothe | |
| 202 | 216 | 2ownerofanyrevenuebondsornotesissuedbytheboardpursuanttotheprovisionsof | |
| 203 | 217 | 3sections100.250to100.297,forinfrastructurefacilitiesasdefinedinsubdivision(9)of | |
| 204 | 218 | 4section100.255,if,priortotheissuanceofsuchbondsornotes,theboarddeterminesthat: | |
| 205 | 219 | 5 (1)Theavailabilityofsuchtaxcreditisamaterialinducementtotheundertakingof | |
| 206 | 220 | 6theprojectinthestateofMissouriandtothesaleofthebondsornotes; | |
| 207 | 221 | 7 (2)Theloanwithrespecttotheprojectisadequatelysecuredbyafirstdeedoftrustor | |
| 208 | 222 | 8mortgageorcomparablelien,orothersecuritysatisfactorytotheboard. | |
| 209 | 223 | 9 2.Uponmakingthedeterminationsspecifiedinsubsection1ofthissection,theboard | |
| 210 | 224 | 10maydeclarethateachownerofanissueofrevenuebondsornotesshallbeentitled,inlieuof | |
| 211 | 225 | 11anyotherdeductionwithrespecttosuchbondsornotes,toataxcreditagainstanytax | |
| 212 | 226 | 12otherwiseduebysuchownerpursuanttotheprovisionsofchapter143,excluding | |
| 213 | 227 | 13withholdingtaximposedbysections143.191to143.261,chapter147,orchapter148,inthe | |
| 214 | 228 | 14amountofonehundredpercentoftheunpaidprincipalofandunpaidinterestonsuchbonds | |
| 215 | 229 | 15ornotesheldbysuchownerinthe[taxable] taxyearofsuchownerfollowingthecalendar | |
| 216 | - | ||
| 230 | + | 16yearofthedefaultoftheloanbytheborrowerwithrespecttotheproject.Theoccurrenceofa | |
| 217 | 231 | 17defaultshallbegovernedbydocumentsauthorizingtheissuanceofthebonds.Thetaxcredit | |
| 218 | 232 | 18allowedpursuanttothissectionshallbeavailabletotheoriginalownersofthebondsornotes | |
| 219 | 233 | 19oranysubsequentownerorownersthereof.Onceanownerisentitledtoaclaim,anysuch | |
| 220 | 234 | 20taxcreditsshallbetransferableasprovidedinsubsection7ofsection100.286. | |
| 221 | 235 | 21NotwithstandinganyprovisionofMissourilawtothecontrary,anyportionofthetax | |
| 222 | 236 | 22credittowhichanyownerofarevenuebondornoteisentitledpursuanttothissectionwhich | |
| 223 | 237 | 23exceedsthetotalincometaxliabilityofsuchownerofarevenuebondornoteshallbecarried | |
| 224 | 238 | 24forwardandallowedasacreditagainstanyfuturetaxesimposedonsuchownerwithinthe | |
| 225 | 239 | 25nexttenyearspursuanttotheprovisionsofchapter143,excludingwithholdingtaximposed | |
| 226 | 240 | 26bysections143.191to143.261,chapter147,orchapter148.Theeligibilityoftheownerof | |
| 227 | 241 | 27anyrevenuebondornoteissuedpursuanttotheprovisionsofsections100.250to100.297for | |
| 228 | 242 | 28thetaxcreditprovidedbythissectionshallbeexpresslystatedonthefaceofeachsuchbond | |
| 229 | 243 | 29ornote.Thetaxcreditallowedpursuanttothissectionshallalsobeavailabletoanyfinancial | |
| 230 | 244 | 30institutionorguarantorwhichexecutesanycreditfacilityassecurityforbondsissued | |
| 231 | 245 | 31pursuanttothissectiontothesameextentasifsuchfinancialinstitutionorguarantorwasan | |
| 232 | - | 32ownerofthebondsornotes,providedhowever,insuchcasethetaxcreditsprovidedbythis | |
| 246 | + | HB2319 7 32ownerofthebondsornotes,providedhowever,insuchcasethetaxcreditsprovidedbythis | |
| 233 | 247 | 33sectionshallbeavailableimmediatelyfollowinganydefaultoftheloanbytheborrowerwith | |
| 234 | 248 | 34respecttotheproject.Inadditiontoreimbursingthefinancialinstitutionorguarantorfor | |
| 235 | 249 | 35claimsrelatingtounpaidprincipalandinterest,suchclaimmayincludepaymentofany | |
| 236 | 250 | 36unpaidfeesimposedbysuchfinancialinstitutionorguarantorforuseofthecreditfacility. | |
| 237 | 251 | 37 3.Theaggregateprincipalamountofrevenuebondsornotesoutstandingatanytime | |
| 238 | 252 | 38withrespecttowhichthetaxcreditprovidedinthissectionshallbeavailableshallnotexceed | |
| 239 | 253 | 39fiftymilliondollars. | |
| 240 | 254 | 40 4.Undersection23.253oftheMissourisunsetact: | |
| 241 | 255 | 41 (1)Theprovisionsofthetaxcreditprogramauthorizedunderthissectionshall | |
| 242 | - | ||
| 256 | + | 42automaticallysunsetonDecember31,2030,unlessreauthorizedbyanactofthegeneral | |
| 243 | 257 | 43assembly; | |
| 244 | 258 | 44 (2)Ifsuchprogramisreauthorized,theprogramauthorizedunderthissection | |
| 245 | - | ||
| 246 | - | ||
| 247 | - | 47 (3) | |
| 248 | - | ||
| 249 | - | ||
| 259 | + | 45shallautomaticallysunsetonDecemberthirty-first,sixyearsaftertheeffectivedateof | |
| 260 | + | 46thereauthorizationofthissection; | |
| 261 | + | 47 (3)ThissectionshallterminateonSeptemberfirstofthecalendaryear | |
| 262 | + | 48immediatelyfollowingthecalendaryearinwhichtheprogramauthorizedunderthis | |
| 263 | + | 49sectionissunset;and | |
| 250 | 264 | 50 (4)Theprovisionsofthissubsectionshallnotbeconstruedtolimitorinanyway | |
| 251 | 265 | 51impairataxpayer'sabilitytoredeemtaxcreditsauthorizedonorbeforethedatethe | |
| 252 | 266 | 52programauthorizedunderthissectionexpires. | |
| 253 | - | ||
| 267 | + | 100.850.1.Theapprovedcompanyshallremittotheboardajobdevelopment | |
| 254 | 268 | 2assessmentfee,nottoexceedfivepercentofthegrosswagesofeacheligibleemployee | |
| 255 | 269 | 3whosejobwascreatedasaresultoftheeconomicdevelopmentproject,ornottoexceedten | |
| 256 | 270 | 4percentiftheeconomicdevelopmentprojectislocatedwithinadistressedcommunityas | |
| 257 | 271 | 5definedinsection135.530,forthepurposeofretiringbondswhichfundtheeconomic | |
| 258 | 272 | 6developmentproject. | |
| 259 | 273 | 7 2.Anyapprovedcompanyremittinganassessmentasprovidedinsubsection1ofthis | |
| 260 | 274 | 8sectionshallmakeitspayrollbooksandrecordsavailabletotheboardatsuchreasonable | |
| 261 | 275 | 9timesastheboardshallrequestandshallfilewiththeboarddocumentationrespectingthe | |
| 262 | 276 | 10assessmentastheboardmayrequire. | |
| 263 | 277 | 11 3.Anyassessmentremittedpursuanttosubsection1ofthissectionshallceaseonthe | |
| 264 | 278 | 12datethebondsareretired. | |
| 265 | 279 | 13 4.Anyapprovedcompanywhichhaspaidanassessmentfordebtreductionshallbe | |
| 266 | 280 | 14allowedataxcreditequaltotheamountoftheassessment.Thetaxcreditmaybeclaimed | |
| 267 | 281 | 15againsttaxesotherwiseimposedbychapters143and148,exceptwithholdingtaxesimposed | |
| 268 | - | 16undertheprovisionsofsections143.191to143.265,whichwereincurredduringthetax | |
| 282 | + | HB2319 8 16undertheprovisionsofsections143.191to143.265,whichwereincurredduringthetax | |
| 269 | 283 | 17periodinwhichtheassessmentwasmade. | |
| 270 | 284 | 18 5.Innoeventshalltheaggregateamountoftaxcreditsauthorizedbysubsection4of | |
| 271 | 285 | 19thissectionexceedtwenty-fivemilliondollarsannually.Ofsuchamount,ninehundredfifty | |
| 272 | 286 | 20thousanddollarsshallbereservedforanapprovedprojectforaworldheadquartersofa | |
| 273 | 287 | 21businesswhoseprimaryfunctionistaxreturnpreparationthatislocatedinanyhomerulecity | |
| 274 | 288 | 22withmorethanfourhundredthousandinhabitantsandlocatedinmorethanonecounty,which | |
| 275 | 289 | 23amountreservedshallendintheyearofthefinalmaturityofthecertificatesissuedforsuch | |
| 276 | 290 | 24approvedproject. | |
| 277 | 291 | 25 6.Thedirectorofrevenueshallissuearefundtotheapprovedcompanytotheextent | |
| 278 | 292 | 26thattheamountofcreditsallowedinsubsection4ofthissectionexceedstheamountofthe | |
| 279 | 293 | 27approvedcompany'sincometax. | |
| 280 | 294 | 28 7.Undersection23.253oftheMissourisunsetact: | |
| 281 | 295 | 29 (1)Theprovisionsoftheprogramauthorizedundersections100.700to100.850 | |
| 282 | - | ||
| 296 | + | 30shallautomaticallysunsetonDecember31,2030,unlessreauthorizedbyanactofthe | |
| 283 | 297 | 31generalassembly; | |
| 284 | 298 | 32 (2)Ifsuchprogramisreauthorized,theprogramauthorizedundersections | |
| 285 | - | 33100.700to100. | |
| 286 | - | ||
| 299 | + | 33100.700to100.850shallautomaticallysunsetonDecemberthirty-first,sixyearsafter | |
| 300 | + | 34theeffectivedateofthereauthorizationofsections100.700to100.850; | |
| 287 | 301 | 35 (3)Sections100.700to100.850shallterminateonSeptemberfirstofthe | |
| 288 | 302 | 36calendaryearimmediatelyfollowingthecalendaryearinwhichtheprogramauthorized | |
| 289 | 303 | 37undersections100.700to100.850issunset;and | |
| 290 | - | ||
| 304 | + | 38 (4)Theprovisionsofthissubsectionshallnotbeconstruedtolimitorinanyway | |
| 291 | 305 | 39impairataxpayer'sabilitytoredeemtaxcreditsauthorizedonorbeforethedatethe | |
| 292 | 306 | 40programauthorizedunderthissectionexpires. | |
| 293 | 307 | 135.090.1.Asusedinthissection,thefollowingtermsmean: | |
| 294 | 308 | 2 (1)"Homestead",thedwellinginMissouriownedbythesurvivingspouseandnot | |
| 295 | 309 | 3exceedingfiveacresoflandsurroundingitasisreasonablynecessaryforuseofthedwelling | |
| 296 | 310 | 4asahome.Asusedinthissection,"homestead"shallnotincludeanydwellingwhichis | |
| 297 | 311 | 5occupiedbymorethantwofamilies; | |
| 298 | 312 | 6 (2)"Publicsafetyofficer",anyfirefighter,policeofficer,capitolpoliceofficer,parole | |
| 299 | 313 | 7officer,probationofficer,correctionalemployee,waterpatrolofficer,parkranger, | |
| 300 | 314 | 8conservationofficer,commercialmotorvehicleenforcementofficer,emergencymedical | |
| 301 | 315 | 9responder,asdefinedinsection190.100,emergencymedicaltechnician,firstresponder,or | |
| 302 | 316 | 10highwaypatrolmanemployedbythestateofMissouriorapoliticalsubdivisionthereofwho | |
| 303 | 317 | 11iskilledinthelineofduty,unlessthedeathwastheresultoftheofficer'sownmisconductor | |
| 304 | 318 | 12abuseofalcoholordrugs; | |
| 305 | - | 13 (3)"Survivingspouse",aspouse,whohasnotremarried,ofapublicsafetyofficer. | |
| 319 | + | HB2319 9 13 (3)"Survivingspouse",aspouse,whohasnotremarried,ofapublicsafetyofficer. | |
| 306 | 320 | 14 2.ForalltaxyearsbeginningonorafterJanuary1,2008,asurvivingspouseshallbe | |
| 307 | 321 | 15allowedacreditagainstthetaxotherwisedueunderchapter143,excludingwithholdingtax | |
| 308 | 322 | 16imposedbysections143.191to143.265,inanamountequaltothetotalamountofthe | |
| 309 | 323 | 17propertytaxesonthesurvivingspouse'shomesteadpaidduringthetaxyearforwhichthe | |
| 310 | 324 | 18creditisclaimed.Asurvivingspousemayclaimthecreditauthorizedunderthissectionfor | |
| 311 | 325 | 19eachtaxyearbeginningtheyearofdeathofthepublicsafetyofficerspouseuntilthetaxyear | |
| 312 | 326 | 20inwhichthesurvivingspouseremarries.Nocreditshallbeallowedforthetaxyearinwhich | |
| 313 | 327 | 21thesurvivingspouseremarries.Iftheamountallowableasacreditexceedstheincometax | |
| 314 | 328 | 22reducedbyothercredits,thentheexcessshallbeconsideredanoverpaymentoftheincome | |
| 315 | - | 23tax.Thedepartmentshallprescribethemethodforsubmittingapplicationsforclaiming | |
| 316 | - | 24thetaxcreditauthorizedunderthissection.Afterissuanceofataxcreditcertificateby | |
| 317 | - | 25thedepartmentofpublicsafety,suchtaxcreditshallberedeemedbyfilingacopyofthe | |
| 318 | - | 26taxcreditcertificatewiththetaxpayer'sincometaxreturnforthetaxyearforwhich | |
| 319 | - | 27suchcreditwasissued. | |
| 320 | - | 28 3.(1)ForallfiscalyearsbeginningonorafterJuly1,2025,thecumulative | |
| 321 | - | 29amountoftaxcreditsallowedtoalltaxpayersunderthissectionshallnotexceedthe | |
| 322 | - | 30totalcapamountwhichshallbeanamountequaltotwentypercentgreaterthanthe | |
| 323 | - | 31highestannualamountoftaxcreditsredeemedinanyonepreviousfiscalyear,from | |
| 324 | - | 32fiscalyear2018tofiscalyear2024,asdeterminedandcalculatedbythedepartmentof | |
| 325 | - | 33revenue. | |
| 326 | - | HCSHB2319 9 34 (2)Iftheamountoftaxcreditsclaimedinafiscalyearunderthissectionexceeds | |
| 327 | - | 35thetotalcapdeterminedundersubdivision(1)ofthissubsection,taxcreditsshallbe | |
| 328 | - | 36allowedbasedontheorderinwhichtheyareclaimed. | |
| 329 | - | 37 4.OnandafterAugust28,2024,thedepartmentofpublicsafetyshall | |
| 330 | - | 38administerthetaxcreditprovidedunderthissection. | |
| 331 | - | 39 5.Thedepartmentof[revenue] publicsafetyshallpromulgaterulestoimplementthe | |
| 332 | - | 40provisionsofthissection. | |
| 333 | - | 41 [4.]6.Anyruleorportionofarule,asthattermisdefinedinsection536.010,thatis | |
| 334 | - | 42createdundertheauthoritydelegatedinthissectionshallbecomeeffectiveonlyifitcomplies | |
| 335 | - | 43withandissubjecttoalloftheprovisionsofchapter536and,ifapplicable,section536.028. | |
| 336 | - | 44Thissectionandchapter536arenonseverableandifanyofthepowersvestedwiththe | |
| 337 | - | 45generalassemblypursuanttochapter536toreview,todelaytheeffectivedate,orto | |
| 338 | - | 46disapproveandannularulearesubsequentlyheldunconstitutional,thenthegrantof | |
| 339 | - | 47rulemakingauthorityandanyruleproposedoradoptedafterAugust28,2007,shallbeinvalid | |
| 340 | - | 48andvoid. | |
| 341 | - | 49 [5.]7.Pursuanttosection23.253oftheMissourisunsetact: | |
| 342 | - | 50 (1)TheprogramauthorizedunderthissectionshallexpireonDecember31,2027, | |
| 343 | - | 51unlessreauthorizedbythegeneralassembly;and | |
| 344 | - | 52 (2)ThissectionshallterminateonSeptemberfirstofthecalendaryearimmediately | |
| 345 | - | 53followingthecalendaryearinwhichtheprogramauthorizedunderthissectionissunset;and | |
| 346 | - | 54 (3)Theprovisionsofthissubsectionshallnotbeconstruedtolimitorinanyway | |
| 347 | - | 55impairthedepartment'sabilitytoredeemtaxcreditsauthorizedonorbeforethedatethe | |
| 348 | - | 56programauthorizedunderthissectionexpiresorataxpayer'sabilitytoredeemsuchtax | |
| 349 | - | 57credits. | |
| 329 | + | 23tax. | |
| 330 | + | 24 3.(1)ForalltaxyearsbeginningonorafterJanuary1,2025,thecumulative | |
| 331 | + | 25amountoftaxcreditsallowedtoalltaxpayersunderthissectionshallnotexceedthe | |
| 332 | + | 26totalcapamountwhichshallbeanamountequaltotwentypercentgreaterthanthe | |
| 333 | + | 27highestannualamountoftaxcreditsredeemedinanyonepreviousfiscalyear,from | |
| 334 | + | 28fiscalyear2018tofiscalyear2024,asdeterminedandcalculatedbythedepartmentof | |
| 335 | + | 29revenue. | |
| 336 | + | 30 (2)Iftheamountoftaxcreditsclaimedinataxyearunderthissectionexceeds | |
| 337 | + | 31thetotalcapdeterminedundersubdivision(2)ofthissubsection,taxcreditsshallbe | |
| 338 | + | 32allowedbasedontheorderinwhichtheyareclaimed. | |
| 339 | + | 33 4.Aftertheeffectivedateofthissection,thedepartmentofpublicsafetyshall | |
| 340 | + | 34administerthetaxcreditprovidedunderthissection. | |
| 341 | + | 35 5.Thedepartmentof[revenue] publicsafetyshallpromulgaterulestoimplementthe | |
| 342 | + | 36provisionsofthissection. | |
| 343 | + | 37 [4.]6.Anyruleorportionofarule,asthattermisdefinedinsection536.010,thatis | |
| 344 | + | 38createdundertheauthoritydelegatedinthissectionshallbecomeeffectiveonlyifitcomplies | |
| 345 | + | 39withandissubjecttoalloftheprovisionsofchapter536and,ifapplicable,section536.028. | |
| 346 | + | 40Thissectionandchapter536arenonseverableandifanyofthepowersvestedwiththe | |
| 347 | + | 41generalassemblypursuanttochapter536toreview,todelaytheeffectivedate,orto | |
| 348 | + | 42disapproveandannularulearesubsequentlyheldunconstitutional,thenthegrantof | |
| 349 | + | 43rulemakingauthorityandanyruleproposedoradoptedafterAugust28,2007,shallbeinvalid | |
| 350 | + | 44andvoid. | |
| 351 | + | 45 [5.]7.Pursuanttosection23.253oftheMissourisunsetact: | |
| 352 | + | 46 (1)TheprogramauthorizedunderthissectionshallexpireonDecember31,2027, | |
| 353 | + | 47unlessreauthorizedbythegeneralassembly;and | |
| 354 | + | 48 (2)ThissectionshallterminateonSeptemberfirstofthecalendaryearimmediately | |
| 355 | + | 49followingthecalendaryearinwhichtheprogramauthorizedunderthissectionissunset;and | |
| 356 | + | HB2319 10 50 (3)Theprovisionsofthissubsectionshallnotbeconstruedtolimitorinanyway | |
| 357 | + | 51impairthedepartment'sabilitytoredeemtaxcreditsauthorizedonorbeforethedatethe | |
| 358 | + | 52programauthorizedunderthissectionexpiresorataxpayer'sabilitytoredeemsuchtax | |
| 359 | + | 53credits. | |
| 350 | 360 | 135.110.1.Anytaxpayerwhoshallestablishanewbusinessfacilityshallbeallowed | |
| 351 | 361 | 2acredit,eachyearfortenyears,inanamountdeterminedpursuanttosubsection2or3ofthis | |
| 352 | 362 | 3section,whicheverisapplicable,againstthetaximposedbychapter143,excluding | |
| 353 | 363 | 4withholdingtaximposedbysections143.191to143.265,oraninsurancecompanywhich | |
| 354 | 364 | 5shallestablishanewbusinessfacilitybysatisfyingtherequirementsinsubdivision(9)of | |
| 355 | 365 | 6section135.100shallbeallowedacreditagainstthetaxotherwiseimposedbychapter148, | |
| 356 | 366 | 7andinthecaseofaninsurancecompanyexemptfromthethirtypercentemployee | |
| 357 | 367 | 8requirementofsection135.230,againstanyobligationimposedpursuanttosection375.916, | |
| 358 | 368 | 9exceptthatnotaxpayershallbeentitledtomultipleten-yearperiodsforsubsequent | |
| 359 | 369 | 10expansionsatthesamefacility,exceptasotherwiseprovidedinthissection.Forthepurpose | |
| 360 | 370 | 11ofthissection,theterm"facility"shallmean,andbelimitedto,thefacilityorfacilitieswhich | |
| 361 | 371 | 12arelocatedonthesamesiteinwhichthenewbusinessfacilityislocated,andinwhichthe | |
| 362 | 372 | 13businessconductedatsuchfacilityorfacilitiesisdirectlyrelatedtothebusinessconductedat | |
| 363 | - | ||
| 373 | + | 14thenewbusinessfacility.Notwithstandingtheprovisionsofthissubsection,ataxpayermay | |
| 364 | 374 | 15beentitledtoanadditionalten-yearperiod,andanadditionalsix-yearperiodafterthe | |
| 365 | 375 | 16expirationofsuchadditionalten-yearperiod,ifanewbusinessfacilityisexpandedinthe | |
| 366 | 376 | 17eighth,ninthortenthyearofthecurrentten-yearperiodorinsubsequentyearsfollowingthe | |
| 367 | 377 | 18expirationoftheten-yearperiod,ifthenumberofnewbusinessfacilityemployeesattributed | |
| 368 | 378 | 19tosuchexpansionisatleasttwenty-fiveandtheamountofnewbusinessfacilityinvestment | |
| 369 | 379 | 20attributedtosuchexpansionisatleastonemilliondollars.Creditsmaynotbecarried | |
| 370 | 380 | 21forwardbutshallbeclaimedforthe[taxable] taxyearduringwhichcommencementof | |
| 371 | 381 | 22commercialoperationsoccursatsuchnewbusinessfacility,andforeachofthenine | |
| 372 | 382 | 23succeeding[taxable] taxyears.Aletterofintent,asprovidedforinsection135.258,mustbe | |
| 373 | 383 | 24filedwiththedepartmentofeconomicdevelopmentnolaterthanfifteendayspriortothe | |
| 374 | 384 | 25commencementofcommercialoperationsatthenewbusinessfacility.Theinitialapplication | |
| 375 | 385 | 26forclaimingtaxcreditsmustbemadeinthetaxpayer'staxperiodimmediatelyfollowingthe | |
| 376 | 386 | 27taxperiodinwhichcommencementofcommercialoperationsbeganatthenewbusiness | |
| 377 | 387 | 28facility.ThisprovisionshallhaveeffectonallinitialapplicationsfiledonorafterAugust28, | |
| 378 | 388 | 291992.Nocreditshallbeallowedpursuanttothissectionunlessthenumberofnewbusiness | |
| 379 | 389 | 30facilityemployeesengagedormaintainedinemploymentatthenewbusinessfacilityforthe | |
| 380 | 390 | 31[taxable] taxyearforwhichthecreditisclaimedequalsorexceedstwo;exceptthatthe | |
| 381 | 391 | 32numberofnewbusinessfacilityemployeesengagedormaintainedinemploymentbya | |
| 382 | 392 | 33revenue-producingenterpriseotherthanarevenue-producingenterprisedefinedinparagraphs | |
| 383 | - | 34(a)to(g)and(i)to(l)ofsubdivision(12)ofsection135.100whichestablishesanofficeas | |
| 393 | + | HB2319 11 34(a)to(g)and(i)to(l)ofsubdivision(12)ofsection135.100whichestablishesanofficeas | |
| 384 | 394 | 35definedinsubdivision(9)ofsection135.100shallequalorexceedtwenty-five. | |
| 385 | 395 | 36 2.FortaxperiodsbeginningafterAugust28,1991,inthecaseofataxpayeroperating | |
| 386 | 396 | 37anexistingbusinessfacility,thecreditallowedbysubsection1ofthissectionshalloffsetthe | |
| 387 | 397 | 38greaterof: | |
| 388 | 398 | 39 (1)Someportionoftheincometaxotherwiseimposedbychapter143,excluding | |
| 389 | 399 | 40withholdingtaximposedbysections143.191to143.265,orinthecaseofaninsurance | |
| 390 | 400 | 41company,thetaxonthedirectpremiums,asdefinedinchapter148,andinthecaseofan | |
| 391 | 401 | 42insurancecompanyexemptfromthethirtypercentemployeerequirementofsection135.230, | |
| 392 | 402 | 43againstanyobligationimposedpursuanttosection375.916withrespecttosuchtaxpayer's | |
| 393 | 403 | 44newbusinessfacilityincomeforthe[taxable] taxyearforwhichsuchcreditisallowed;or | |
| 394 | 404 | 45 (2)Uptofiftypercentor,inthecaseofaneconomicdevelopmentprojectlocated | |
| 395 | 405 | 46withinadistressedcommunityasdefinedinsection135.530,seventy-fivepercentofthe | |
| 396 | 406 | 47businessincometaxotherwiseimposedbychapter143,excludingwithholdingtaximposed | |
| 397 | 407 | 48bysections143.191to143.265,orinthecaseofaninsurancecompany,thetaxonthedirect | |
| 398 | 408 | 49premiums,asdefinedinchapter148,andinthecaseofaninsurancecompanyexemptfrom | |
| 399 | 409 | 50thethirtypercentemployeerequirementofsection135.230,againstanyobligationimposed | |
| 400 | - | ||
| 410 | + | 51pursuanttosection375.916ifthebusinessoperatesnootherfacilitiesinMissouri.Inthecase | |
| 401 | 411 | 52ofanexistingbusinessfacilityoperatingmorethanonefacilityinMissouri,thecredit | |
| 402 | 412 | 53allowedinsubsection1ofthissectionshalloffsetuptothegreateroftheportionprescribed | |
| 403 | 413 | 54insubdivision(1)ofthissubsectionortwenty-fivepercentor,inthecaseofaneconomic | |
| 404 | 414 | 55developmentprojectlocatedwithinadistressedcommunityasdefinedinsection135.530, | |
| 405 | 415 | 56thirty-fivepercentofthebusiness'tax,exceptthatnotaxpayeroperatingmorethanone | |
| 406 | 416 | 57facilityinMissourishallbeallowedtooffsetmorethantwenty-fivepercentor,inthecaseof | |
| 407 | 417 | 58aneconomicdevelopmentprojectlocatedwithinadistressedcommunityasdefinedinsection | |
| 408 | 418 | 59135.530,thirty-fivepercentofthetaxpayer'sbusinessincometaxinanytaxperiodunderthe | |
| 409 | 419 | 60methodprescribedinthissubdivision.Suchcreditshallbeanamountequaltothesumofone | |
| 410 | 420 | 61hundreddollarsor,inthecaseofaneconomicdevelopmentprojectlocatedwithinadistressed | |
| 411 | 421 | 62communityasdefinedinsection135.530,onehundredfiftydollarsforeachnewbusiness | |
| 412 | 422 | 63facilityemployeeplusonehundreddollarsor,inthecaseofaneconomicdevelopmentproject | |
| 413 | 423 | 64locatedwithinadistressedcommunityasdefinedinsection135.530,onehundredfifty | |
| 414 | 424 | 65dollarsforeachonehundredthousanddollars,ormajorfractionthereof(whichshallbe | |
| 415 | 425 | 66deemedtobefifty-onepercentormore)innewbusinessfacilityinvestment.Forthepurpose | |
| 416 | 426 | 67ofthissection,taxcreditsearnedbyataxpayer,whoestablishesanewbusinessfacility | |
| 417 | 427 | 68becauseitsatisfiestherequirementsofparagraph(c)ofsubdivision(5)ofsection135.100, | |
| 418 | 428 | 69shalloffsetthegreateroftheportionprescribedinsubdivision(1)ofthissubsectionorupto | |
| 419 | 429 | 70fiftypercentor,inthecaseofaneconomicdevelopmentprojectlocatedwithinadistressed | |
| 420 | - | 71communityasdefinedinsection135.530,seventy-fivepercentofthebusiness'taxprovided | |
| 430 | + | HB2319 12 71communityasdefinedinsection135.530,seventy-fivepercentofthebusiness'taxprovided | |
| 421 | 431 | 72thebusinessoperatesnootherfacilitiesinMissouri.Inthecaseofabusinessoperatingmore | |
| 422 | 432 | 73thanonefacilityinMissouri,thecreditallowedinsubsection1ofthissectionshalloffsetup | |
| 423 | 433 | 74tothegreateroftheportionprescribedinsubdivision(1)ofthissubsectionortwenty-five | |
| 424 | 434 | 75percentor,inthecaseofaneconomicdevelopmentprojectlocatedwithinadistressed | |
| 425 | 435 | 76communityasdefinedinsection135.530,thirty-fivepercentofthebusiness'tax,exceptthat | |
| 426 | 436 | 77notaxpayeroperatingmorethanonefacilityinMissourishallbeallowedtooffsetmorethan | |
| 427 | 437 | 78twenty-fivepercentor,inthecaseofaneconomicdevelopmentprojectlocatedwithina | |
| 428 | 438 | 79distressedcommunityasdefinedinsection135.530,thirty-fivepercentofthetaxpayer's | |
| 429 | 439 | 80businessincometaxinanytaxperiodunderthemethodprescribedinthissubdivision. | |
| 430 | 440 | 81 3.FortaxperiodsbeginningafterAugust28,1991,inthecaseofataxpayernot | |
| 431 | 441 | 82operatinganexistingbusinessfacility,thecreditallowedbysubsection1ofthissectionshall | |
| 432 | 442 | 83offsetthegreaterof: | |
| 433 | 443 | 84 (1)Someportionoftheincometaxotherwiseimposedbychapter143,excluding | |
| 434 | 444 | 85withholdingtaximposedbysections143.191to143.265,orinthecaseofaninsurance | |
| 435 | 445 | 86company,thetaxonthedirectpremiums,asdefinedinchapter148,andinthecaseofan | |
| 436 | 446 | 87insurancecompanyexemptfromthethirtypercentemployeerequirementofsection135.230, | |
| 437 | - | ||
| 447 | + | 88againstanyobligationimposedpursuanttosection375.916withrespecttosuchtaxpayer's | |
| 438 | 448 | 89newbusinessfacilityincomeforthe[taxable] taxyearforwhichsuchcreditisallowed;or | |
| 439 | 449 | 90 (2)Uptoonehundredpercentofthebusinessincometaxotherwiseimposedby | |
| 440 | 450 | 91chapter143,excludingwithholdingtaximposedbysections143.191to143.265,orinthe | |
| 441 | 451 | 92caseofaninsurancecompany,thetaxonthedirectpremiums,asdefinedinchapter148,and | |
| 442 | 452 | 93inthecaseofaninsurancecompanyexemptfromthethirtypercentemployeerequirementof | |
| 443 | 453 | 94section135.230,againstanyobligationimposedpursuanttosection375.916ifthebusiness | |
| 444 | 454 | 95hasnootherfacilitiesoperatinginMissouri.Inthecaseofataxpayernotoperatingan | |
| 445 | 455 | 96existingbusinessandoperatingmorethanonefacilityinMissouri,thecreditallowedby | |
| 446 | 456 | 97subsection1ofthissectionshalloffsetuptothegreateroftheportionprescribedin | |
| 447 | 457 | 98subdivision(1)ofthissubsectionortwenty-fivepercentor,inthecaseofaneconomic | |
| 448 | 458 | 99developmentprojectlocatedwithinadistressedcommunityasdefinedinsection135.530, | |
| 449 | 459 | 100thirty-fivepercentofthebusiness'tax,exceptthatnotaxpayeroperatingmorethanone | |
| 450 | 460 | 101facilityinMissourishallbeallowedtooffsetmorethantwenty-fivepercentor,inthecaseof | |
| 451 | 461 | 102aneconomicdevelopmentprojectlocatedwithinadistressedcommunityasdefinedinsection | |
| 452 | 462 | 103135.530,thirty-fivepercentofthetaxpayer'sbusinessincometaxinanytaxperiodunderthe | |
| 453 | 463 | 104methodprescribedinthissubdivision.Suchcreditshallbeanamountequaltothesumof | |
| 454 | 464 | 105seventy-fivedollarsor,inthecaseofaneconomicdevelopmentprojectlocatedwithina | |
| 455 | 465 | 106distressedcommunityasdefinedinsection135.530,onehundredtwenty-fivedollarsforeach | |
| 456 | 466 | 107newbusinessfacilityemployeeplusseventy-fivedollarsor,inthecaseofaneconomic | |
| 457 | - | 108developmentprojectlocatedwithinadistressedcommunityasdefinedinsection135.530, | |
| 467 | + | HB2319 13 108developmentprojectlocatedwithinadistressedcommunityasdefinedinsection135.530, | |
| 458 | 468 | 109onehundredtwenty-fivedollarsforeachonehundredthousanddollars,ormajorfraction | |
| 459 | 469 | 110thereof(whichshallbedeemedtobefifty-onepercentormore)innewbusinessfacility | |
| 460 | 470 | 111investment. | |
| 461 | 471 | 112 4.Thenumberofnewbusinessfacilityemployeesduringany[taxable] taxyearshall | |
| 462 | 472 | 113bedeterminedbydividingbytwelvethesumofthenumberofindividualsemployedonthe | |
| 463 | 473 | 114lastbusinessdayofeachmonthofsuch[taxable] taxyear.Ifthenewbusinessfacilityisin | |
| 464 | 474 | 115operationforlessthantheentire[taxable] taxyear,thenumberofnewbusinessfacility | |
| 465 | 475 | 116employeesshallbedeterminedbydividingthesumofthenumberofindividualsemployedon | |
| 466 | 476 | 117thelastbusinessdayofeachfullcalendarmonthduringtheportionofsuch[taxable] taxyear | |
| 467 | 477 | 118duringwhichthenewbusinessfacilitywasinoperationbythenumberoffullcalendar | |
| 468 | 478 | 119monthsduringsuchperiod.Forthepurposeofcomputingthecreditallowedbythissection | |
| 469 | 479 | 120inthecaseofafacilitywhichqualifiesasanewbusinessfacilitybecauseitqualifiesasa | |
| 470 | 480 | 121separatefacilitypursuanttosubsection6ofthissection,and,inthecaseofanewbusiness | |
| 471 | 481 | 122facilitywhichsatisfiestherequirementsofparagraph(c)ofsubdivision(5)ofsection | |
| 472 | 482 | 123135.100,orsubdivision(11)ofsection135.100,thenumberofnewbusinessfacility | |
| 473 | 483 | 124employeesatsuchfacilityshallbereducedbytheaveragenumberofindividualsemployed, | |
| 474 | - | ||
| 484 | + | 125computedasprovidedinthissubsection,atthefacilityduringthe[taxable] taxyear | |
| 475 | 485 | 126immediatelyprecedingthe[taxable] taxyearinwhichsuchexpansion,acquisition,or | |
| 476 | 486 | 127replacementoccurredandshallfurtherbereducedbythenumberofindividualsemployedby | |
| 477 | 487 | 128thetaxpayerorrelatedtaxpayerthatwassubsequentlytransferredtothenewbusinessfacility | |
| 478 | 488 | 129fromanotherMissourifacilityandforwhichcreditsauthorizedinthissectionarenotbeing | |
| 479 | 489 | 130earned,whethersuchcreditsareearnedbecauseofanexpansion,acquisition,relocationorthe | |
| 480 | 490 | 131establishmentofanewfacility. | |
| 481 | 491 | 132 5.Forthepurposeofcomputingthecreditallowedbythissectioninthecaseofa | |
| 482 | 492 | 133facilitywhichqualifiesasanewbusinessfacilitybecauseitqualifiesasaseparatefacility | |
| 483 | 493 | 134pursuanttosubsection6ofthissection,and,inthecaseofanewbusinessfacilitywhich | |
| 484 | 494 | 135satisfiestherequirementsofparagraph(c)ofsubdivision(5)ofsection135.100or | |
| 485 | 495 | 136subdivision(11)ofsection135.100,theamountofthetaxpayer'snewbusinessfacility | |
| 486 | 496 | 137investmentinsuchfacilityshallbereducedbytheaverageamount,computedasprovidedin | |
| 487 | 497 | 138subdivision(8)ofsection135.100fornewbusinessfacilityinvestment,oftheinvestmentof | |
| 488 | 498 | 139thetaxpayer,orrelatedtaxpayerimmediatelyprecedingsuchexpansionorreplacementorat | |
| 489 | 499 | 140thetimeofacquisition.Furthermore,theamountofthetaxpayer'snewbusinessfacility | |
| 490 | 500 | 141investmentshallalsobereducedbytheamountofinvestmentemployedbythetaxpayeror | |
| 491 | 501 | 142relatedtaxpayerwhichwassubsequentlytransferredtothenewbusinessfacilityfromanother | |
| 492 | 502 | 143Missourifacilityandforwhichcreditsauthorizedinthissectionarenotbeingearned, | |
| 493 | - | 144whethersuchcreditsareearnedbecauseofanexpansion,acquisition,relocationorthe | |
| 503 | + | HB2319 14 144whethersuchcreditsareearnedbecauseofanexpansion,acquisition,relocationorthe | |
| 494 | 504 | 145establishmentofanewfacility. | |
| 495 | 505 | 146 6.Ifafacility,whichdoesnotconstituteanewbusinessfacility,isexpandedbythe | |
| 496 | 506 | 147taxpayer,theexpansionshallbeconsideredaseparatefacilityeligibleforthecreditallowed | |
| 497 | 507 | 148bythissectionif: | |
| 498 | 508 | 149 (1)Thetaxpayer'snewbusinessfacilityinvestmentintheexpansionduringthetax | |
| 499 | 509 | 150periodinwhichthecreditsallowedinthissectionareclaimedexceedsonehundredthousand | |
| 500 | 510 | 151dollars,or,ifless,onehundredpercentoftheinvestmentintheoriginalfacilitypriorto | |
| 501 | 511 | 152expansionandifthenumberofnewbusinessfacilityemployeesengagedormaintainedin | |
| 502 | 512 | 153employmentattheexpansionfacilityforthe[taxable] taxyearforwhichcreditisclaimed | |
| 503 | 513 | 154equalsorexceedstwo,exceptthatthenumberofnewbusinessfacilityemployeesengagedor | |
| 504 | 514 | 155maintainedinemploymentattheexpansionfacilityforthe[taxable] taxyearforwhichthe | |
| 505 | 515 | 156creditisclaimedequalsorexceedstwenty-fiveifanofficeasdefinedinsubdivision(9)of | |
| 506 | 516 | 157section135.100isestablishedbyarevenue-producingenterpriseotherthanarevenue- | |
| 507 | 517 | 158producingenterprisedefinedinparagraphs(a)to(g)and(i)to(l)ofsubdivision(12)of | |
| 508 | 518 | 159section135.100andthetotalnumberofemployeesatthefacilityaftertheexpansionisat | |
| 509 | 519 | 160leasttwogreaterthanthetotalnumberofemployeesbeforetheexpansion,exceptthatthe | |
| 510 | 520 | 161totalnumberofemployeesatthefacilityaftertheexpansionisatleastgreaterthanthe | |
| 511 | - | ||
| 521 | + | 162numberofemployeesbeforetheexpansionbytwenty-five,ifanofficeasdefinedin | |
| 512 | 522 | 163subdivision(9)ofsection135.100isestablishedbyarevenue-producingenterpriseotherthan | |
| 513 | 523 | 164arevenue-producingenterprisedefinedinparagraphs(a)to(g)and(i)to(l)ofsubdivision | |
| 514 | 524 | 165(12)ofsection135.100;and | |
| 515 | 525 | 166 (2)Theexpansionotherwiseconstitutesanewbusinessfacility.Thetaxpayer's | |
| 516 | 526 | 167investmentintheexpansionandintheoriginalfacilitypriortoexpansionshallbedetermined | |
| 517 | 527 | 168inthemannerprovidedinsubdivision(8)ofsection135.100. | |
| 518 | 528 | 169 7.Nocreditshallbeallowedpursuanttothissectiontoapublicutility,assuchtermis | |
| 519 | 529 | 170definedinsection386.020.Notwithstandinganyprovisionofthissubsectiontothecontrary, | |
| 520 | 530 | 171motorcarriers,bargelinesorrailroadsengagedintransportingpropertyforhire,orany | |
| 521 | 531 | 172interexchangetelecommunicationscompanyorlocalexchangetelecommunicationscompany | |
| 522 | 532 | 173thatestablishesanewbusinessfacilityshallbeeligibletoqualifyforcreditsallowedinthis | |
| 523 | 533 | 174section. | |
| 524 | 534 | 175 8.Forthepurposesofthecreditdescribedinthissection,inthecaseofacorporation | |
| 525 | 535 | 176describedinsection143.471orpartnership,incomputingMissouri'staxliability,thiscredit | |
| 526 | 536 | 177shallbeallowedtothefollowing: | |
| 527 | 537 | 178 (1)Theshareholdersofthecorporationdescribedinsection143.471; | |
| 528 | 538 | 179 (2)Thepartnersofthepartnership. | |
| 529 | 539 | 180 | |
| 530 | - | 181Thiscreditshallbeapportionedtotheentitiesdescribedinsubdivisions(1)and(2)ofthis | |
| 540 | + | HB2319 15 181Thiscreditshallbeapportionedtotheentitiesdescribedinsubdivisions(1)and(2)ofthis | |
| 531 | 541 | 182subsectioninproportiontotheirshareofownershiponthelastdayofthetaxpayer'stax | |
| 532 | 542 | 183period. | |
| 533 | 543 | 184 9.Notwithstandinganyprovisionoflawtothecontrary,anyemployee-owned | |
| 534 | 544 | 185engineeringfirmclassifiedasSIC8711,architecturalfirmasclassifiedSIC8712,or | |
| 535 | 545 | 186accountingfirmclassifiedSIC8721establishinganewbusinessfacilitybecauseitqualifies | |
| 536 | 546 | 187asaheadquartersasdefinedinsubsection10ofthissection,shallbeallowedthecredits | |
| 537 | 547 | 188describedinsubsection11ofthissectionunderthesametermsandconditionsprescribedin | |
| 538 | 548 | 189sections135.100to135.150;provided: | |
| 539 | 549 | 190 (1)Suchfacilitymaintainsanaverageofatleastfivehundrednewbusinessfacility | |
| 540 | 550 | 191employeesasdefinedinsubdivision(6)ofsection135.100duringthetaxpayer'staxperiodin | |
| 541 | 551 | 192whichsuchcreditsarebeingclaimed;and | |
| 542 | 552 | 193 (2)Suchfacilitymaintainsanaverageofatleasttwentymilliondollarsinnew | |
| 543 | 553 | 194businessfacilityinvestmentasdefinedinsubdivision(8)ofsection135.100duringthe | |
| 544 | 554 | 195taxpayer'staxperiodinwhichsuchcreditsarebeingclaimed. | |
| 545 | 555 | 196 10.Forthepurposeofthecreditsallowedinsubsection9ofthissection: | |
| 546 | 556 | 197 (1)"Employee-owned"meansthebusinessemployeesowndirectlyorindirectly, | |
| 547 | 557 | 198includingthroughanemployeestockownershipplanortrustatleast: | |
| 548 | - | ||
| 558 | + | 199 (a)Seventy-fivepercentofthetotalbusinessstock,ifthetaxpayerisacorporation | |
| 549 | 559 | 200describedinsection143.441;or | |
| 550 | 560 | 201 (b)Onehundredpercentoftheinterestinthebusinessifthetaxpayerisacorporation | |
| 551 | 561 | 202describedinsection143.471,apartnership,oralimitedliabilitycompany;and | |
| 552 | 562 | 203 (2)"Headquarters"means: | |
| 553 | 563 | 204 (a)Theadministrativemanagementofatleastthreeintegratedfacilitiesoperatedby | |
| 554 | 564 | 205thetaxpayerorrelatedtaxpayer;and | |
| 555 | 565 | 206 (b)Thetaxpayer'sbusinesshasbeenheadquarteredinthisstateformorethanfifty | |
| 556 | 566 | 207years. | |
| 557 | 567 | 208 11.Thetaxcreditsallowedinsubsection9ofthissectionshallbethegreaterof: | |
| 558 | 568 | 209 (1)Fourhundreddollarsforeachnewbusinessfacilityemployeeascomputedin | |
| 559 | 569 | 210subsection4ofthissectionandfourpercentofnewbusinessfacilityinvestmentascomputed | |
| 560 | 570 | 211insubsection5ofthissection;or | |
| 561 | 571 | 212 (2)Fivehundreddollarsforeachnewbusinessfacilityemployeeascomputedin | |
| 562 | 572 | 213subsection4ofthissection,andfivehundreddollarsofeachonehundredthousanddollarsof | |
| 563 | 573 | 214newbusinessfacilityinvestmentascomputedinsubsection5ofthissection. | |
| 564 | 574 | 215 12.Forthepurposeofthecreditdescribedinsubsection9ofthissection,inthecase | |
| 565 | 575 | 216ofasmallcorporationdescribedinsection143.471,orapartnership,oralimitedliability | |
| 566 | 576 | 217company,thecreditsallowedinsubsection9ofthissectionshallbeapportionedinproportion | |
| 567 | - | 218totheshareofownershipofeachshareholder,partnerorstockholderonthelastdayofthe | |
| 577 | + | HB2319 16 218totheshareofownershipofeachshareholder,partnerorstockholderonthelastdayofthe | |
| 568 | 578 | 219taxpayer'staxperiodforwhichsuchcreditsarebeingclaimed. | |
| 569 | 579 | 220 13.Forthepurposeofthecreditdescribedinsubsection9ofthissection,taxcredits | |
| 570 | 580 | 221earned,totheextentsuchcreditsexceedthetaxpayer'sMissouritaxontaxablebusiness | |
| 571 | 581 | 222income,shallconstituteanoverpaymentoftaxesandinsuchcase,berefundedtothetaxpayer | |
| 572 | 582 | 223providedsuchrefundsareusedbythetaxpayertopurchasespecifiedfacilityitems.Forthe | |
| 573 | 583 | 224purposeoftherefundasauthorizedinthissubsection,"specifiedfacilityitems"means | |
| 574 | 584 | 225equipment,computers,computersoftware,copiers,tenantfinishing,furnitureandfixtures | |
| 575 | 585 | 226installedandinuseatthenewbusinessfacilityduringthetaxpayer's[taxable] taxyear.The | |
| 576 | 586 | 227taxpayershallperfectsuchrefundbyattestinginwritingtothedirector,subjecttothe | |
| 577 | 587 | 228penaltiesofperjury,therequirementsprescribedinthissubsectionhavebeenmetand | |
| 578 | 588 | 229submittinganyotherinformationthedirectormayrequire. | |
| 579 | 589 | 230 14.Notwithstandinganyprovisionoflawtothecontrary,anytaxpayermaysell, | |
| 580 | 590 | 231assign,exchange,conveyorotherwisetransfertaxcreditsallowedinsubsection9ofthis | |
| 581 | 591 | 232sectionunderthetermsandconditionsprescribedinsubdivisions(1)and(2)ofthis | |
| 582 | 592 | 233subsection.Suchtaxpayer,referredtoastheassignorforthepurposeofthissubsection,may | |
| 583 | 593 | 234sell,assign,exchangeorotherwisetransferearnedtaxcredits: | |
| 584 | 594 | 235 (1)Fornolessthanseventy-fivepercentoftheparvalueofsuchcredits;and | |
| 585 | - | ||
| 595 | + | 236 (2)Inanamountnottoexceedonehundredpercentofsuchearnedcredits. | |
| 586 | 596 | 237 | |
| 587 | 597 | 238Thetaxpayeracquiringtheearnedcreditsreferredtoastheassigneeforthepurposeofthis | |
| 588 | 598 | 239subsectionmayusetheacquiredcreditstooffsetuptoonehundredpercentofthetax | |
| 589 | 599 | 240liabilitiesotherwiseimposedbychapter143,excludingwithholdingtaximposedbysections | |
| 590 | 600 | 241143.191to143.261,orchapter148,orinthecaseofaninsurancecompanyexemptfromthe | |
| 591 | 601 | 242thirtypercentemployeerequirementofsection135.230,againstanyobligationimposed | |
| 592 | 602 | 243pursuanttosection375.916.Unusedcreditsinthehandsoftheassigneemaybecarried | |
| 593 | 603 | 244forwardforuptofivetaxperiods,providedallsuchcreditsshallbeclaimedwithintentax | |
| 594 | 604 | 245periodsfollowingthetaxperiodinwhichcommencementofcommercialoperationsoccurred | |
| 595 | 605 | 246atthenewbusinessfacility.Theassignorshallenterintoawrittenagreementwiththe | |
| 596 | 606 | 247assigneeestablishingthetermsandconditionsoftheagreementandshallperfectsuchtransfer | |
| 597 | 607 | 248bynotifyingthedirectorinwritingwithinthirtycalendardaysfollowingtheeffectivedateof | |
| 598 | 608 | 249thetransferandshallprovideanyinformationasmayberequiredbythedirectortoadminister | |
| 599 | 609 | 250andcarryouttheprovisionsofthissubsection.Notwithstandinganyotherprovisionoflawto | |
| 600 | 610 | 251thecontrary,theamountreceivedbytheassignorofsuchtaxcreditshallbetaxableasincome | |
| 601 | 611 | 252oftheassignor,andthedifferencebetweentheamountpaidbytheassigneeandtheparvalue | |
| 602 | 612 | 253ofthecreditsshallbetaxableasincomeoftheassignee. | |
| 603 | - | 254 15.(1) | |
| 613 | + | HB2319 17 254 15.(1)ForalltaxyearsbeginningonorafterJanuary1,2025,thecumulative | |
| 604 | 614 | 255amountoftaxcreditsallowedtoalltaxpayersunderthissectionshallnotexceedthe | |
| 605 | 615 | 256totalcapamountwhichshallbeanamountequaltotwentypercentgreaterthanthe | |
| 606 | 616 | 257highestannualamountoftaxcreditsredeemedinanyonepreviousfiscalyear,from | |
| 607 | 617 | 258fiscalyear2018tofiscalyear2024,asdeterminedandcalculatedbythedepartment. | |
| 608 | - | 259 (2) | |
| 609 | - | 260thetotalcapdeterminedundersubdivision( | |
| 618 | + | 259 (2)Iftheamountoftaxcreditsclaimedinataxyearunderthissectionexceeds | |
| 619 | + | 260thetotalcapdeterminedundersubdivision(2)ofthissubsection,taxcreditsshallbe | |
| 610 | 620 | 261allowedbasedontheorderinwhichtheyareclaimed. | |
| 611 | 621 | 135.326.Asusedinsections135.325to135.339,thefollowingtermsshallmean: | |
| 612 | 622 | 2 (1)"Businessentity",person,firm,apartnerinafirm,corporationorashareholderin | |
| 613 | 623 | 3anScorporationdoingbusinessinthestateofMissouriandsubjecttothestateincometax | |
| 614 | 624 | 4imposedbytheprovisionsofchapter143,oracorporationsubjecttotheannualcorporation | |
| 615 | 625 | 5franchisetaximposedbytheprovisionsofchapter147,oraninsurancecompanypayingan | |
| 616 | 626 | 6annualtaxonitsgrosspremiumreceiptsinthisstate,orotherfinancialinstitutionpaying | |
| 617 | 627 | 7taxestothestateofMissourioranypoliticalsubdivisionofthisstateundertheprovisionsof | |
| 618 | 628 | 8chapter148,oranexpresscompanywhichpaysanannualtaxonitsgrossreceiptsinthisstate | |
| 619 | 629 | 9pursuanttochapter153; | |
| 620 | 630 | 10 (2)"Child",anyindividualwho: | |
| 621 | 631 | 11 (a)Hasnotattainedanageofatleasteighteenyears;or | |
| 622 | - | ||
| 632 | + | 12 (b)Iseighteenyearsofageorolderbutisphysicallyormentallyincapableofcaring | |
| 623 | 633 | 13forhimselforherself; | |
| 624 | 634 | 14 (3)"Department",thedepartmentofsocialservices; | |
| 625 | 635 | 15 (4)"Disability",amental,physical,oremotionalimpairmentthatsubstantiallylimits | |
| 626 | 636 | 16oneormoremajorlifeactivities,whethertheimpairmentiscongenitaloracquiredby | |
| 627 | 637 | 17accident,injuryordisease,andwheretheimpairmentisverifiedbymedicalfindings; | |
| 628 | 638 | 18 [(4)](5)"Nonrecurringadoptionexpenses",reasonableandnecessaryadoptionfees, | |
| 629 | 639 | 19courtcosts,[attorney] attorney'sfees,andotherexpenseswhicharedirectlyrelatedtothe | |
| 630 | 640 | 20legaladoptionofachildandwhicharenotincurredinviolationoffederal,state,orlocallaw; | |
| 631 | 641 | 21 [(5)](6)"Specialneedschild",achildforwhomithasbeendeterminedbythe | |
| 632 | 642 | 22children'sdivision,orbyachild-placingagencylicensedbythestate,orbyacourtof | |
| 633 | 643 | 23competentjurisdictiontobeachild: | |
| 634 | 644 | 24 (a)Thatcannotorshouldnotbereturnedtothehomeofhisorherparents;and | |
| 635 | 645 | 25 (b)Whohasaspecificfactororconditionsuchasage,membershipinasiblinggroup, | |
| 636 | 646 | 26medicalconditionordiagnosis,ordisabilitybecauseofwhichitisreasonabletoconcludethat | |
| 637 | 647 | 27suchchildcannotbeeasilyplacedwithadoptiveparents; | |
| 638 | 648 | 28 [(6)](7)"Statetaxliability",anyliabilityincurredbyataxpayerundertheprovisions | |
| 639 | 649 | 29ofchapter143,chapter147,chapter148,andchapter153,exclusiveoftheprovisionsrelating | |
| 640 | - | 30tothewithholdingoftaxasprovidedforinsections143.191to143.265andrelated | |
| 650 | + | HB2319 18 30tothewithholdingoftaxasprovidedforinsections143.191to143.265andrelated | |
| 641 | 651 | 31provisions. | |
| 642 | - | 135.339.1.OnandafterAugust28,2024,thedepartmentofsocialservicesshall | |
| 643 | - | 2administerthetaxcreditprovidedundersections135.325to135.339.Thedepartment | |
| 644 | - | 3shallprescribethemethodforsubmittingapplicationsforclaimingthetaxcredit | |
| 645 | - | 4authorizedundersections135.325to135.339.Afterissuanceofataxcreditcertificate | |
| 646 | - | 5bythedepartmentofsocialservices,suchtaxcreditshallberedeemedbyfilingacopyof | |
| 647 | - | 6thetaxcreditcertificatewiththetaxpayer'sincometaxreturnforthetaxyearforwhich | |
| 648 | - | 7suchcreditwasissued. | |
| 649 | - | 8 2.Thedirectorofrevenue[, inconsultationwiththechildren'sdivision,] andthe | |
| 650 | - | 9directorofthedepartmentofsocialservicesshallprescribesuchrulesandregulations | |
| 651 | - | 10necessarytocarryouttheprovisionsofsections135.325to135.339.Noruleorportionofa | |
| 652 | - | 11rulepromulgatedundertheauthorityofsections135.325to135.339shallbecomeeffective | |
| 653 | - | 12unlessithasbeenpromulgatedpursuanttotheprovisionsofsection536.024. | |
| 654 | - | 13 3.Undersection23.253oftheMissourisunsetact: | |
| 655 | - | 14 (1)Theprovisionsoftheprogramauthorizedundersections135.325to135.339 | |
| 656 | - | 15shallautomaticallysunsetonAugust28,2030,unlessreauthorizedbyanactofthe | |
| 657 | - | 16generalassembly; | |
| 658 | - | HCSHB2319 18 17 (2)Ifsuchprogramisreauthorized,theprogramauthorizedundersections | |
| 659 | - | 18135.325to135.339shallautomaticallysunsetsixyearsaftertheeffectivedateofthe | |
| 660 | - | 19reauthorizationofsections135.325to135.339; | |
| 661 | - | 20 (3)Sections135.325to135.339shallterminateonSeptemberfirstofthe | |
| 662 | - | 21calendaryearimmediatelyfollowingthecalendaryearinwhichtheprogramauthorized | |
| 663 | - | 22undersections135.325to135.339issunset;and | |
| 664 | - | 23 (4)Theprovisionsofthissubsectionshallnotbeconstruedtolimitorinanyway | |
| 665 | - | 24impairataxpayer'sabilitytoredeemtaxcreditsauthorizedonorbeforethedatethe | |
| 666 | - | 25programauthorizedunderthissectionexpires. | |
| 652 | + | 135.339.1.Aftertheeffectivedateofthissection,thedepartmentofsocial | |
| 653 | + | 2servicesshalladministerthetaxcreditprovidedundersections135.325to135.339. | |
| 654 | + | 3 2.The[directorofrevenue,inconsultationwiththechildren'sdivision,] department | |
| 655 | + | 4ofsocialservicesshallprescribesuchrulesandregulationsnecessarytocarryoutthe | |
| 656 | + | 5provisionsofsections135.325to135.339.Noruleorportionofarulepromulgatedunderthe | |
| 657 | + | 6authorityofsections135.325to135.339shallbecomeeffectiveunlessithasbeen | |
| 658 | + | 7promulgatedpursuanttotheprovisionsofsection536.024. | |
| 659 | + | 8 3.Undersection23.253oftheMissourisunsetact: | |
| 660 | + | 9 (1)Theprovisionsoftheprogramauthorizedundersections135.325to135.339 | |
| 661 | + | 10shallautomaticallysunsetonDecember31,2030,unlessreauthorizedbyanactofthe | |
| 662 | + | 11generalassembly; | |
| 663 | + | 12 (2)Ifsuchprogramisreauthorized,theprogramauthorizedundersections | |
| 664 | + | 13135.325to135.339shallautomaticallysunsetonDecemberthirty-first,sixyearsafter | |
| 665 | + | 14theeffectivedateofthereauthorizationofsections135.325to135.339; | |
| 666 | + | 15 (3)Sections135.325to135.339shallterminateonSeptemberfirstofthe | |
| 667 | + | 16calendaryearimmediatelyfollowingthecalendaryearinwhichtheprogramauthorized | |
| 668 | + | 17undersections135.325to135.339issunset;and | |
| 669 | + | 18 (4)Theprovisionsofthissubsectionshallnotbeconstruedtolimitorinanyway | |
| 670 | + | 19impairataxpayer'sabilitytoredeemtaxcreditsauthorizedonorbeforethedatethe | |
| 671 | + | 20programauthorizedunderthissectionexpires. | |
| 667 | 672 | 135.341.1.Asusedinthissection,thefollowingtermsshallmean: | |
| 668 | 673 | 2 (1)"CASA",anentitywhichreceivesfundingfromthecourt-appointedspecial | |
| 669 | 674 | 3advocatefundestablishedundersection476.777,includinganassociationbasedinthisstate, | |
| 670 | 675 | 4affiliatedwithanationalassociation,organizedtoprovidesupporttoentitiesreceiving | |
| 671 | 676 | 5fundingfromthecourt-appointedspecialadvocatefund; | |
| 672 | 677 | 6 (2)"Childadvocacycenters",theregionalchildassessmentcenterslistedin | |
| 673 | 678 | 7subsection2ofsection210.001,includinganassociationbasedinthisstate,affiliatedwitha | |
| 674 | 679 | 8nationalassociation,andorganizedtoprovidesupporttoentitieslistedinsubsection2of | |
| 675 | 680 | 9section210.001; | |
| 676 | 681 | 10 (3)"Contribution",theamountofdonationtoaqualifiedagency; | |
| 677 | 682 | 11 (4)"Crisiscarecenter",entitiescontractedwiththisstatewhichprovidetemporary | |
| 678 | 683 | 12careforchildrenwhoseagerangesfrombirththroughseventeenyearsofagewhoseparents | |
| 679 | 684 | 13orguardianareexperiencinganunexpectedandunstableorseriousconditionthatrequires | |
| 680 | 685 | 14immediateactionresultinginshort-termcare,usuallythreetofivecontinuous,uninterrupted | |
| 681 | 686 | 15days,forchildrenwhomaybeatriskforchildabuse,neglect,orinanemergencysituation; | |
| 682 | - | 16 (5)"Department",thedepartmentof[revenue] socialservices; | |
| 687 | + | HB2319 19 16 (5)"Department",thedepartmentof[revenue] socialservices; | |
| 683 | 688 | 17 (6)"Director",thedirectorofthedepartmentof[revenue] socialservices; | |
| 684 | 689 | 18 (7)"Qualifiedagency",CASA,childadvocacycenters,oracrisiscarecenter; | |
| 685 | 690 | 19 (8)"Taxliability",thetaxdueunderchapter143otherthantaxeswithheldunder | |
| 686 | 691 | 20sections143.191to143.265. | |
| 687 | 692 | 21 2.ForalltaxyearsbeginningonorafterJanuary1,2013,ataxcreditmaybeclaimed | |
| 688 | 693 | 22inanamountequaltouptofiftypercentofaverifiedcontributiontoaqualifiedagencyand | |
| 689 | 694 | 23shallbenamedthechampionforchildrentaxcredit.Theminimumamountofanytaxcredit | |
| 690 | 695 | 24issuedshallnotbelessthanfiftydollarsandshallbeappliedtotaxesdueunderchapter143, | |
| 691 | 696 | 25excludingsections143.191to143.265.Acontributionverificationshallbeissuedtothe | |
| 692 | 697 | 26taxpayerbytheagencyreceivingthecontribution.Suchcontributionverificationshall | |
| 693 | 698 | 27includethetaxpayer'sname,SocialSecuritynumber,amountoftaxcredit,amountof | |
| 694 | 699 | 28contribution,thenameandaddressoftheagencyreceivingthecredit,andthedatethe | |
| 695 | - | ||
| 700 | + | 29contributionwasmade.Thetaxcreditprovidedunderthissubsectionshallbeinitiallyfiled | |
| 696 | 701 | 30fortheyearinwhichtheverifiedcontributionismade. | |
| 697 | - | 31 3. | |
| 698 | - | ||
| 699 | - | ||
| 700 | - | ||
| 701 | - | ||
| 702 | - | ||
| 703 | - | ||
| 704 | - | ||
| 705 | - | ||
| 706 | - | ||
| 702 | + | 31 3.Thecumulativeamountofthetaxcreditsredeemedshallnotexceedonemillion | |
| 703 | + | 32dollarsforallfiscalyearsendingonorbeforeJune30,2019,andonemillionfivehundred | |
| 704 | + | 33thousanddollarsforallfiscalyearsbeginningonorafterJuly1,2019.Theamountavailable | |
| 705 | + | 34shallbeequallydividedamongthethreequalifiedagencies:CASA,childadvocacycenters, | |
| 706 | + | 35orcrisiscarecenters,tobeusedtowardstaxcreditsissued.Intheeventtaxcreditsclaimed | |
| 707 | + | 36underoneagencydonottotaltheallocatedamountforthatagency,theunusedportionforthat | |
| 708 | + | 37agencywillbemadeavailabletotheremainingagenciesequally.Intheeventthetotal | |
| 709 | + | 38amountoftaxcreditsclaimedforanyoneagencyexceedstheamountavailableforthat | |
| 710 | + | 39agency,theamountredeemedshallandwillbeapportionedequallytoalleligibletaxpayers | |
| 711 | + | 40claimingthecreditunderthatagency. | |
| 707 | 712 | 41 4.PriortoDecemberthirty-firstofeachyear,eachqualifiedagencyshallapplytothe | |
| 708 | 713 | 42departmentofsocialservicesinordertoverifytheirqualifiedagencystatusandapplyfor | |
| 709 | 714 | 43thechampionforchildrentaxcredit.Uponadeterminationthattheagencyiseligibletobe | |
| 710 | - | 44aqualifiedagency,thedepartmentofsocialservicesshallprovidealetterofeligibilityand | |
| 711 | - | 45thetaxcreditcertificatetosuchagency.NolaterthanFebruaryfirstofeachyear,the | |
| 712 | - | 46departmentofsocialservicesshallprovidealistofqualifiedagenciestothedepartmentof | |
| 713 | - | 47revenue.Alltaxcreditapplicationstoclaimthechampionforchildrentaxcreditshallbe | |
| 714 | - | 48filedbetweenJulyfirstandAprilfifteenthofeachfiscalyear.Ataxpayershall[applyfor] | |
| 715 | - | 49redeemthechampionforchildrentaxcreditbyattachingacopyofthecontribution | |
| 716 | - | 50verificationprovidedbyaqualifiedagencyandthetaxcreditcertificatetosuchtaxpayer's | |
| 717 | - | 51incometaxreturn. | |
| 718 | - | 52 5.Anyamountoftaxcreditwhichexceedsthetaxdueorwhichisappliedforand | |
| 719 | - | 53otherwiseeligibleforissuancebutnotissuedshallnotberefundedbutmaybecarriedoverto | |
| 720 | - | 54anysubsequenttaxyear,nottoexceedatotaloffiveyears. | |
| 721 | - | 55 6.Taxcreditsmaynotbeassigned,transferredorsold. | |
| 722 | - | 56 7.(1)Intheeventacreditdenial,duetolackofavailablefunds,causesabalance-due | |
| 723 | - | 57noticetobegeneratedbythedepartmentofrevenue,oranyotherredeemingagency,the | |
| 724 | - | 58taxpayerwillnotbeheldliableforanypenaltyorinterest,providedthebalanceispaid,or | |
| 725 | - | 59approvedpaymentarrangementshavebeenmade,withinsixtydaysfromthenoticeofdenial. | |
| 726 | - | 60 (2)Intheeventthebalanceisnotpaidwithinsixtydaysfromthenoticeofdenial,the | |
| 727 | - | 61remainingbalanceshallbedueandpayableundertheprovisionsofchapter143. | |
| 728 | - | 62 8.Thedepartmentofsocialservicesmaypromulgatesuchrulesorregulationsasare | |
| 729 | - | 63necessarytoadministertheprovisionsofthissection.Anyruleorportionofarule,asthat | |
| 730 | - | 64termisdefinedinsection536.010,thatiscreatedundertheauthoritydelegatedinthissection | |
| 731 | - | 65shallbecomeeffectiveonlyifitcomplieswithandissubjecttoalloftheprovisionsof | |
| 732 | - | HCSHB2319 20 66chapter536and,ifapplicable,section536.028.Thissectionandchapter536are | |
| 733 | - | 67nonseverableandifanyofthepowersvestedwiththegeneralassemblypursuanttochapter | |
| 734 | - | 68536toreview,todelaytheeffectivedate,ortodisapproveandannularulearesubsequently | |
| 735 | - | 69heldunconstitutional,thenthegrantofrulemakingauthorityandanyruleproposedor | |
| 736 | - | 70adoptedafterAugust28,2013,shallbeinvalidandvoid. | |
| 737 | - | 71 9.Pursuanttosection23.253,oftheMissourisunsetact: | |
| 738 | - | 72 (1)TheprogramauthorizedunderthissectionshallbereauthorizedasofDecember | |
| 739 | - | 7331,2019,andshallexpireonDecember31,2025,unlessreauthorizedbythegeneral | |
| 740 | - | 74assembly;and | |
| 741 | - | 75 (2)ThissectionshallterminateonSeptemberfirstofthecalendaryearimmediately | |
| 742 | - | 76followingthecalendaryearinwhichtheprogramauthorizedunderthissectionissunset;and | |
| 743 | - | 77 (3)Theprovisionsofthissubsectionshallnotbeconstruedtolimitorinanyway | |
| 744 | - | 78impairthedepartment'sabilitytoredeemtaxcreditsauthorizedonorbeforethedatethe | |
| 745 | - | 79programauthorizedunderthissectionexpiresorataxpayer'sabilitytoredeemsuchcredits. | |
| 746 | - | 80 10.BeginningonMarch29,2013,anyverifiedcontributiontoaqualifiedagency | |
| 747 | - | 81madeonorafterJanuary1,2013,shallbeeligiblefortaxcreditsasprovidedbythissection. | |
| 748 | - | 82 11.OnandafterAugust28,2024,thedepartmentofsocialservicesshall | |
| 749 | - | 83administerthetaxcreditprovidedunderthissection. | |
| 715 | + | 44aqualifiedagency,thedepartmentofsocialservicesshallprovidealetterofeligibilitytosuch | |
| 716 | + | 45agency.NolaterthanFebruaryfirstofeachyear,thedepartmentofsocialservicesshall | |
| 717 | + | 46providealistofqualifiedagenciestothedepartmentofrevenue.Alltaxcreditapplicationsto | |
| 718 | + | 47claimthechampionforchildrentaxcreditshallbefiledbetweenJulyfirstandAprilfifteenth | |
| 719 | + | 48ofeachfiscalyear.[Ataxpayershallapplyforthechampionforchildrentaxcreditby | |
| 720 | + | 49attachingacopyofthecontributionverificationprovidedbyaqualifiedagencytosuch | |
| 721 | + | 50taxpayer'sincometaxreturn.] | |
| 722 | + | HB2319 20 51 5.Anyamountoftaxcreditwhichexceedsthetaxdueorwhichisappliedforand | |
| 723 | + | 52otherwiseeligibleforissuancebutnotissuedshallnotberefundedbutmaybecarriedoverto | |
| 724 | + | 53anysubsequenttaxyear,nottoexceedatotaloffiveyears. | |
| 725 | + | 54 6.Taxcreditsmaynotbeassigned,transferredorsold. | |
| 726 | + | 55 7.(1)Intheeventacreditdenial,duetolackofavailablefunds,causesabalance-due | |
| 727 | + | 56noticetobegeneratedbythedepartmentofrevenue,oranyotherredeemingagency,the | |
| 728 | + | 57taxpayerwillnotbeheldliableforanypenaltyorinterest,providedthebalanceispaid,or | |
| 729 | + | 58approvedpaymentarrangementshavebeenmade,withinsixtydaysfromthenoticeofdenial. | |
| 730 | + | 59 (2)Intheeventthebalanceisnotpaidwithinsixtydaysfromthenoticeofdenial,the | |
| 731 | + | 60remainingbalanceshallbedueandpayableundertheprovisionsofchapter143. | |
| 732 | + | 61 8.Thedepartmentofsocialservicesmaypromulgatesuchrulesorregulationsasare | |
| 733 | + | 62necessarytoadministertheprovisionsofthissection.Anyruleorportionofarule,asthat | |
| 734 | + | 63termisdefinedinsection536.010,thatiscreatedundertheauthoritydelegatedinthissection | |
| 735 | + | 64shallbecomeeffectiveonlyifitcomplieswithandissubjecttoalloftheprovisionsof | |
| 736 | + | 65chapter536and,ifapplicable,section536.028.Thissectionandchapter536are | |
| 737 | + | 66nonseverableandifanyofthepowersvestedwiththegeneralassemblypursuanttochapter | |
| 738 | + | 67536toreview,todelaytheeffectivedate,ortodisapproveandannularulearesubsequently | |
| 739 | + | 68heldunconstitutional,thenthegrantofrulemakingauthorityandanyruleproposedor | |
| 740 | + | 69adoptedafterAugust28,2013,shallbeinvalidandvoid. | |
| 741 | + | 70 9.Pursuanttosection23.253,oftheMissourisunsetact: | |
| 742 | + | 71 (1)TheprogramauthorizedunderthissectionshallbereauthorizedasofDecember | |
| 743 | + | 7231,2019,andshallexpireonDecember31,2025,unlessreauthorizedbythegeneral | |
| 744 | + | 73assembly;and | |
| 745 | + | 74 (2)ThissectionshallterminateonSeptemberfirstofthecalendaryearimmediately | |
| 746 | + | 75followingthecalendaryearinwhichtheprogramauthorizedunderthissectionissunset;and | |
| 747 | + | 76 (3)Theprovisionsofthissubsectionshallnotbeconstruedtolimitorinanyway | |
| 748 | + | 77impairthedepartment'sabilitytoredeemtaxcreditsauthorizedonorbeforethedatethe | |
| 749 | + | 78programauthorizedunderthissectionexpiresorataxpayer'sabilitytoredeemsuchcredits. | |
| 750 | + | 79 10.BeginningonMarch29,2013,anyverifiedcontributiontoaqualifiedagency | |
| 751 | + | 80madeonorafterJanuary1,2013,shallbeeligiblefortaxcreditsasprovidedbythissection. | |
| 752 | + | 81 11.Aftertheeffectivedateofthissection,thedepartmentofsocialservicesshall | |
| 753 | + | 82administerthetaxcreditprovidedunderthissection. | |
| 750 | 754 | 135.432.1.Thedepartmentofeconomicdevelopmentshallpromulgatesuchrules | |
| 751 | 755 | 2andregulationsasarenecessarytoimplementtheprovisionsofsections135.400to135.430. | |
| 752 | 756 | 3 2.Noruleorportionofarulepromulgatedundertheauthorityofthischaptershall | |
| 753 | 757 | 4becomeeffectiveuntilithasbeenapprovedbythejointcommitteeonadministrativerulesin | |
| 754 | 758 | 5accordancewiththeproceduresprovidedinthissection,andthedelegationofthelegislative | |
| 755 | - | 6authoritytoenactlawbytheadoptionofsuchrulesisdependentuponthepowerofthejoint | |
| 759 | + | HB2319 21 6authoritytoenactlawbytheadoptionofsuchrulesisdependentuponthepowerofthejoint | |
| 756 | 760 | 7committeeonadministrativerulestoreviewandsuspendrulespendingratificationbythe | |
| 757 | 761 | 8senateandthehouseofrepresentativesasprovidedinthissection. | |
| 758 | 762 | 9 3.Uponfilinganyproposedrulewiththesecretaryofstate,thedepartmentshall | |
| 759 | 763 | 10concurrentlysubmitsuchproposedruletothecommittee,whichmayholdhearingsuponany | |
| 760 | 764 | 11proposedruleorportionthereofatanytime. | |
| 761 | 765 | 12 4.Afinalorderofrulemakingshallnotbefiledwiththesecretaryofstateuntilthirty | |
| 762 | 766 | 13daysaftersuchfinalorderofrulemakinghasbeenreceivedbythecommittee.Thecommittee | |
| 763 | 767 | 14mayholdoneormorehearingsuponsuchfinalorderofrulemakingduringthethirty-day | |
| 764 | 768 | 15period.Ifthecommitteedoesnotdisapprovesuchorderofrulemakingwithinthethirty-day | |
| 765 | 769 | 16period,thedepartmentmayfilesuchorderofrulemakingwiththesecretaryofstateandthe | |
| 766 | 770 | 17orderofrulemakingshallbedeemedapproved. | |
| 767 | - | ||
| 771 | + | 18 5.Thecommitteemay,bymajorityvoteofthemembers,suspendtheorderof | |
| 768 | 772 | 19rulemakingorportionthereofbyactiontakenpriortothefilingofthefinalorderof | |
| 769 | 773 | 20rulemakingonlyforoneormoreofthefollowinggrounds: | |
| 770 | 774 | 21 (1)Anabsenceofstatutoryauthorityfortheproposedrule; | |
| 771 | 775 | 22 (2)Anemergencyrelatingtopublichealth,safetyorwelfare; | |
| 772 | 776 | 23 (3)Theproposedruleisinconflictwithstatelaw; | |
| 773 | 777 | 24 (4)Asubstantialchangeincircumstancesinceenactmentofthelawuponwhichthe | |
| 774 | 778 | 25proposedruleisbased. | |
| 775 | 779 | 26 6.Ifthecommitteedisapprovesanyruleorportionthereof,thedepartmentshallnot | |
| 776 | 780 | 27filesuchdisapprovedportionofanyrulewiththesecretaryofstateandthesecretaryofstate | |
| 777 | 781 | 28shallnotpublishintheMissouriRegisteranyfinalorderofrulemakingcontainingthe | |
| 778 | 782 | 29disapprovedportion. | |
| 779 | 783 | 30 7.Ifthecommitteedisapprovesanyruleorportionthereof,thecommitteeshallreport | |
| 780 | 784 | 31itsfindingstothesenateandthehouseofrepresentatives.Noruleorportionthereof | |
| 781 | 785 | 32disapprovedbythecommitteeshalltakeeffectsolongasthesenateandthehouseof | |
| 782 | 786 | 33representativesratifytheactofthejointcommitteebyresolutionadoptedineachhouse | |
| 783 | 787 | 34withinthirtylegislativedaysaftersuchruleorportionthereofhasbeendisapprovedbythe | |
| 784 | 788 | 35jointcommittee. | |
| 785 | 789 | 36 8.Uponadoptionofaruleasprovidedinthissection,anysuchruleorportionthereof | |
| 786 | 790 | 37maybesuspendedorrevokedbythegeneralassemblyeitherbybillor,pursuanttoSection8, | |
| 787 | 791 | 38ArticleIVoftheConstitutionofMissouri,byconcurrentresolutionuponrecommendationof | |
| 788 | 792 | 39thejointcommitteeonadministrativerules.Thecommitteeshallbeauthorizedtohold | |
| 789 | 793 | 40hearingsandmakerecommendationspursuanttotheprovisionsofsection536.037.The | |
| 790 | 794 | 41secretaryofstateshallpublishintheMissouriRegister,assoonaspracticable,noticeofthe | |
| 791 | 795 | 42suspensionorrevocation. | |
| 792 | - | 43 9.Undersection23.253oftheMissourisunsetact: | |
| 796 | + | HB2319 22 43 9.Undersection23.253oftheMissourisunsetact: | |
| 793 | 797 | 44 (1)Theprovisionsoftheprogramauthorizedundersections135.400to135.432 | |
| 794 | - | ||
| 798 | + | 45shallautomaticallysunsetonDecember31,2030,unlessreauthorizedbyanactofthe | |
| 795 | 799 | 46generalassembly; | |
| 796 | 800 | 47 (2)Ifsuchprogramisreauthorized,theprogramauthorizedundersections | |
| 797 | - | 48135.400to135. | |
| 798 | - | ||
| 801 | + | 48135.400to135.432shallautomaticallysunsetonDecemberthirty-first,sixyearsafter | |
| 802 | + | 49theeffectivedateofthereauthorizationofsections135.400to135.432; | |
| 799 | 803 | 50 (3)Sections135.400to135.432shallterminateonSeptemberfirstofthe | |
| 800 | 804 | 51calendaryearimmediatelyfollowingthecalendaryearinwhichtheprogramauthorized | |
| 801 | 805 | 52undersections135.400to135.432issunset;and | |
| 802 | - | ||
| 806 | + | 53 (4)Theprovisionsofthissubsectionshallnotbeconstruedtolimitorinanyway | |
| 803 | 807 | 54impairataxpayer'sabilitytoredeemtaxcreditsauthorizedonorbeforethedatethe | |
| 804 | 808 | 55programauthorizedunderthissectionexpires. | |
| 805 | 809 | 135.460.1.Thissectionandsections620.1100and620.1103shallbeknownand | |
| 806 | 810 | 2maybecitedasthe"YouthOpportunitiesandViolencePreventionAct". | |
| 807 | 811 | 3 2.Asusedinthissection,theterm"taxpayer"shallincludecorporationsasdefinedin | |
| 808 | 812 | 4section143.441or143.471,anycharitableorganizationwhichisexemptfromfederalincome | |
| 809 | 813 | 5taxandwhoseMissouriunrelatedbusinesstaxableincome,ifany,wouldbesubjecttothe | |
| 810 | 814 | 6stateincometaximposedunderchapter143,andindividuals,individualproprietorshipsand | |
| 811 | 815 | 7partnerships. | |
| 812 | 816 | 8 3.Ataxpayershallbeallowedataxcreditagainstthetaxotherwiseduepursuantto | |
| 813 | 817 | 9chapter143,excludingwithholdingtaximposedbysections143.191to143.265,chapter147, | |
| 814 | 818 | 10chapter148,orchapter153inanamountequaltothirtypercentforpropertycontributions | |
| 815 | 819 | 11andfiftypercentformonetarycontributionsoftheamountsuchtaxpayercontributedtothe | |
| 816 | 820 | 12programsdescribedinsubsection5ofthissection,nottoexceedtwohundredthousand | |
| 817 | 821 | 13dollarsper[taxable] taxyear,pertaxpayer;exceptasotherwiseprovidedinsubdivision(5)of | |
| 818 | 822 | 14subsection5ofthissection.Thedepartmentofeconomicdevelopmentshallprescribethe | |
| 819 | 823 | 15methodforclaimingthetaxcreditsallowedinthissection.Noruleorportionofarule | |
| 820 | 824 | 16promulgatedundertheauthorityofthissectionshallbecomeeffectiveunlessithasbeen | |
| 821 | 825 | 17promulgatedpursuanttotheprovisionsofchapter536.Allrulemakingauthoritydelegated | |
| 822 | 826 | 18priortoJune27,1997,isofnoforceandeffectandrepealed;however,nothinginthissection | |
| 823 | 827 | 19shallbeinterpretedtorepealoraffectthevalidityofanyrulefiledoradoptedpriortoJune27, | |
| 824 | 828 | 201997,ifsuchrulecompliedwiththeprovisionsofchapter536.Theprovisionsofthissection | |
| 825 | 829 | 21andchapter536arenonseverableandifanyofthepowersvestedwiththegeneralassembly | |
| 826 | 830 | 22pursuanttochapter536,includingtheabilitytoreview,todelaytheeffectivedate,orto | |
| 827 | 831 | 23disapproveandannularuleorportionofarule,aresubsequentlyheldunconstitutional,then | |
| 828 | - | 24thepurportedgrantofrulemakingauthorityandanyrulesoproposedandcontainedinthe | |
| 832 | + | HB2319 23 24thepurportedgrantofrulemakingauthorityandanyrulesoproposedandcontainedinthe | |
| 829 | 833 | 25orderofrulemakingshallbeinvalidandvoid. | |
| 830 | 834 | 26 4.Thetaxcreditsallowedbythissectionshallbeclaimedbythetaxpayertooffset | |
| 831 | 835 | 27thetaxesthatbecomedueinthetaxpayer'staxperiodinwhichthecontributionwasmade. | |
| 832 | 836 | 28Anytaxcreditnotusedinsuchtaxperiodmaybecarriedoverthenextfivesucceedingtax | |
| 833 | 837 | 29periods. | |
| 834 | 838 | 30 5.Thetaxcreditallowedbythissectionmayonlybeclaimedformonetaryor | |
| 835 | 839 | 31propertycontributionstopublicorprivateprogramsauthorizedtoparticipatepursuanttothis | |
| 836 | 840 | 32sectionbythedepartmentofeconomicdevelopmentandmaybeclaimedforthe | |
| 837 | 841 | 33development,establishment,implementation,operation,andexpansionofthefollowing | |
| 838 | 842 | 34activitiesandprograms: | |
| 839 | - | ||
| 843 | + | 35 (1)Anadopt-a-schoolprogram.Componentsoftheadopt-a-schoolprogramshall | |
| 840 | 844 | 36includedonationsforschoolactivities,seminars,andfunctions;school-businessemployment | |
| 841 | 845 | 37programs;andthedonationofpropertyandequipmentofthecorporationtotheschool; | |
| 842 | 846 | 38 (2)Expansionofprogramstoencourageschooldropoutstoreenterandcompletehigh | |
| 843 | 847 | 39schoolortocompleteagraduateequivalencydegreeprogram; | |
| 844 | 848 | 40 (3)Employmentprograms.Suchprogramsshallinitially,butnotexclusively,target | |
| 845 | 849 | 41unemployedyouthlivinginpovertyandyouthlivinginareaswithahighincidenceofcrime; | |
| 846 | 850 | 42 (4)Neworexistingyouthclubsorassociations; | |
| 847 | 851 | 43 (5)Employment/internship/apprenticeshipprogramsinbusinessortradesforpersons | |
| 848 | 852 | 44lessthantwentyyearsofage,inwhichcasethetaxcreditclaimedpursuanttothissection | |
| 849 | 853 | 45shallbeequaltoone-halfoftheamountpaidtotheinternorapprenticeinthattaxyear,except | |
| 850 | 854 | 46thatsuchcreditshallnotexceedtenthousanddollarsperperson; | |
| 851 | 855 | 47 (6)Mentorandrolemodelprograms; | |
| 852 | 856 | 48 (7)Drugandalcoholabusepreventiontrainingprogramsforyouth; | |
| 853 | 857 | 49 (8)Donationofpropertyorequipmentofthetaxpayertoschools,includingschools | |
| 854 | 858 | 50whichprimarilyeducatechildrenwhohavebeenexpelledfromotherschools,ordonationof | |
| 855 | 859 | 51thesametomunicipalities,ornot-for-profitcorporationsorothernot-for-profitorganizations | |
| 856 | 860 | 52whichofferprogramsdedicatedtoyouthviolencepreventionasauthorizedbythe | |
| 857 | 861 | 53department; | |
| 858 | 862 | 54 (9)Not-for-profit,privateorpublicyouthactivitycenters; | |
| 859 | 863 | 55 (10)Nonviolentconflictresolutionandmediationprograms; | |
| 860 | 864 | 56 (11)Youthoutreachandcounselingprograms. | |
| 861 | 865 | 57 6.Anyprogramauthorizedinsubsection5ofthissectionshall,atleastannually, | |
| 862 | 866 | 58submitareporttothedepartmentofeconomicdevelopmentoutliningthepurposeand | |
| 863 | 867 | 59objectivesofsuchprogram,thenumberofyouthserved,thespecificactivitiesprovided | |
| 864 | - | 60pursuanttosuchprogram,thedurationofsuchprogramandrecordedyouthattendancewhere | |
| 868 | + | HB2319 24 60pursuanttosuchprogram,thedurationofsuchprogramandrecordedyouthattendancewhere | |
| 865 | 869 | 61applicable. | |
| 866 | 870 | 62 7.Thedepartmentofeconomicdevelopmentshall,atleastannuallysubmitareportto | |
| 867 | 871 | 63theMissourigeneralassemblylistingtheorganizationsparticipating,servicesofferedandthe | |
| 868 | 872 | 64numberofyouthservedastheresultoftheimplementationofthissection. | |
| 869 | 873 | 65 8.Thetaxcreditallowedbythissectionshallapplytoall[taxable] taxyears | |
| 870 | 874 | 66beginningafterDecember31,1995. | |
| 871 | 875 | 67 9.Forthepurposesofthecreditsdescribedinthissection,inthecaseofacorporation | |
| 872 | 876 | 68describedinsection143.471,partnership,limitedliabilitycompanydescribedinsection | |
| 873 | 877 | 69347.015,cooperative,marketingenterprise,orpartnership,incomputingMissouri'stax | |
| 874 | 878 | 70liability,suchcreditsshallbeallowedtothefollowing: | |
| 875 | 879 | 71 (1)Theshareholdersofthecorporationdescribedinsection143.471; | |
| 876 | - | ||
| 880 | + | 72 (2)Thepartnersofthepartnership; | |
| 877 | 881 | 73 (3)Themembersofthelimitedliabilitycompany;and | |
| 878 | 882 | 74 (4)Individualmembersofthecooperativeormarketingenterprise. | |
| 879 | 883 | 75 | |
| 880 | 884 | 76Suchcreditsshallbeapportionedtotheentitiesdescribedinsubdivisions(1)and(2)ofthis | |
| 881 | 885 | 77subsectioninproportiontotheirshareofownershiponthelastdayofthetaxpayer'stax | |
| 882 | 886 | 78period. | |
| 883 | 887 | 79 10.Undersection23.253oftheMissourisunsetact: | |
| 884 | 888 | 80 (1)Theprovisionsoftheprogramauthorizedunderthissectionshall | |
| 885 | - | ||
| 886 | - | ||
| 889 | + | 81automaticallysunsetonDecember31,2030,unlessreauthorizedbyanactofthe | |
| 890 | + | 82generalassembly; | |
| 887 | 891 | 83 (2)Ifsuchprogramisreauthorized,theprogramauthorizedunderthissection | |
| 888 | - | ||
| 889 | - | ||
| 892 | + | 84shallautomaticallysunsetonDecemberthirty-first,sixyearsaftertheeffectivedateof | |
| 893 | + | 85thereauthorizationofthissection; | |
| 890 | 894 | 86 (3)ThissectionshallterminateonSeptemberfirstofthecalendaryear | |
| 891 | 895 | 87immediatelyfollowingthecalendaryearinwhichtheprogramauthorizedunderthis | |
| 892 | 896 | 88sectionissunset;and | |
| 893 | 897 | 89 (4)Theprovisionsofthissubsectionshallnotbeconstruedtolimitorinanyway | |
| 894 | 898 | 90impairataxpayer'sabilitytoredeemtaxcreditsauthorizedonorbeforethedatethe | |
| 895 | 899 | 91programauthorizedunderthissectionexpires. | |
| 896 | 900 | 135.487.1.Toobtainanycreditallowedpursuanttosections135.475to135.487,a | |
| 897 | 901 | 2taxpayershallsubmittothedepartment,forpreliminaryapproval,anapplicationfortax | |
| 898 | 902 | 3credit.Thedirectorshall,uponfinalapprovalofanapplicationandpresentationof | |
| 899 | 903 | 4acceptableproofofsubstantialcompletionofconstruction,issuethetaxpayeracertificateof | |
| 900 | 904 | 5taxcredit.Thedirectorshallissueallcreditsallowedpursuanttosections135.475to135.487 | |
| 901 | - | 6intheordertheapplicationsarereceived.Inthecaseofataxpayerotherthananowner- | |
| 905 | + | HB2319 25 6intheordertheapplicationsarereceived.Inthecaseofataxpayerotherthananowner- | |
| 902 | 906 | 7occupant,thedirectorshallnotdelaytheissuanceofataxcreditpursuanttosections135.475 | |
| 903 | 907 | 8to135.487untilthesaleofaresidenceatmarketrateforowner-occupancy.Ataxpayer, | |
| 904 | 908 | 9[taxpayer] otherthananowner-occupantwhoreceivesacertificateoftaxcreditpursuantto | |
| 905 | 909 | 10sections135.475to135.487, shall,withinthirtydaysofthedateofthesaleofaresidence, | |
| 906 | 910 | 11furnishtothedirectorsatisfactoryproofthatsuchresidencewassoldatmarketratefor | |
| 907 | 911 | 12owner-occupancy.Ifthedirectorreasonablydeterminesthataresidencewasnotingoodfaith | |
| 908 | 912 | 13intendedforlong-termowneroccupancy,thedirectormakerevokeanytaxcreditsissuedand | |
| 909 | 913 | 14seekrecoveryofanytaxcreditsissuedpursuanttosection620.017. | |
| 910 | 914 | 15 2.Thedepartmentmaycooperatewithamunicipalityoracountyinwhichaproject | |
| 911 | 915 | 16islocatedtohelpidentifythelocationoftheproject,thetypeandeligibilityoftheproject,the | |
| 912 | 916 | 17estimatedcostoftheprojectandthecompletiondateoftheproject. | |
| 913 | - | ||
| 917 | + | 18 3.Thedepartmentmaypromulgatesuchrulesorregulationsorissueadministrative | |
| 914 | 918 | 19guidelinesasarenecessarytoadministertheprovisionsofsections135.475to135.487.No | |
| 915 | 919 | 20ruleorportionofarulepromulgatedpursuanttotheauthorityofthissectionshallbecome | |
| 916 | 920 | 21effectiveunlessithasbeenpromulgatedpursuanttotheprovisionsofchapter536. | |
| 917 | 921 | 22 4.Thedepartmentshallconductannuallyacomprehensiveprogramevaluation | |
| 918 | 922 | 23illustratingwherethetaxcreditsallowedpursuanttosections135.475to135.487arebeing | |
| 919 | 923 | 24utilized,explainingtheeconomicimpactofsuchprogramandmakingrecommendationson | |
| 920 | 924 | 25appropriateprogrammodificationstoensuretheprogram'ssuccess. | |
| 921 | 925 | 26 5.Undersection23.253oftheMissourisunsetact: | |
| 922 | 926 | 27 (1)Theprovisionsoftheprogramauthorizedundersections135.475to135.487 | |
| 923 | - | ||
| 927 | + | 28shallautomaticallysunsetonDecember31,2030,unlessreauthorizedbyanactofthe | |
| 924 | 928 | 29generalassembly; | |
| 925 | 929 | 30 (2)Ifsuchprogramisreauthorized,theprogramauthorizedundersections | |
| 926 | - | 31135.475to135. | |
| 927 | - | ||
| 930 | + | 31135.475to135.487shallautomaticallysunsetonDecemberthirty-first,sixyearsafter | |
| 931 | + | 32theeffectivedateofthereauthorizationofsections135.475to135.487; | |
| 928 | 932 | 33 (3)Sections135.475to135.487shallterminateonSeptemberfirstofthe | |
| 929 | 933 | 34calendaryearimmediatelyfollowingthecalendaryearinwhichtheprogramauthorized | |
| 930 | 934 | 35undersections135.475to135.487issunset;and | |
| 931 | 935 | 36 (4)Theprovisionsofthissubsectionshallnotbeconstruedtolimitorinanyway | |
| 932 | 936 | 37impairataxpayer'sabilitytoredeemtaxcreditsauthorizedonorbeforethedatethe | |
| 933 | 937 | 38programauthorizedunderthissectionexpires. | |
| 934 | 938 | 135.490.1.Inordertoencourageandfostercommunityimprovement,aneligible | |
| 935 | 939 | 2smallbusiness,asdefinedinSection44oftheInternalRevenueCode,shallbealloweda | |
| 936 | 940 | 3creditnottoexceedfivethousanddollarsagainstthetaxotherwiseduepursuanttochapter | |
| 937 | 941 | 4143,notincludingsections143.191to143.265,inanamountequaltofiftypercentofall | |
| 938 | - | 5eligibleaccessexpendituresexceedingthemonetarycapprovidedbySection44ofthe | |
| 942 | + | HB2319 26 5eligibleaccessexpendituresexceedingthemonetarycapprovidedbySection44ofthe | |
| 939 | 943 | 6InternalRevenueCode.Forpurposesofthissection,"eligibleaccessexpenditures"means | |
| 940 | 944 | 7amountspaidorincurredbythetaxpayerinordertocomplywithapplicableaccess | |
| 941 | 945 | 8requirementsprovidedbytheAmericansWithDisabilitiesActof1990,asfurtherdefinedin | |
| 942 | 946 | 9Section44oftheInternalRevenueCodeandfederalrulingsinterpretingSection44ofthe | |
| 943 | 947 | 10InternalRevenueCode. | |
| 944 | - | 11 2.Thedepartmentshallprescribethemethodforsubmittingapplicationsfor | |
| 945 | - | 12claimingthetaxcreditallowedbythissection. Afterissuanceofataxcreditcertificateby | |
| 946 | - | 13thedepartmentofeconomicdevelopment,suchtaxcreditshallbe[claimed] redeemedby | |
| 947 | - | 14[thetaxpayeratthetimesuchtaxpayerfilesa]filingacopyofthetaxcreditcertificatewith | |
| 948 | - | 15thetaxpayer'sincometaxreturnforthetaxyearforwhichsuchcreditwasissued. Any | |
| 949 | - | HCSHB2319 26 16amountoftaxcreditwhichexceedsthetaxdueshallbecarriedovertoanysubsequent | |
| 950 | - | 17[taxable] taxyear,butshallnotberefundedandshallnotbetransferable. | |
| 951 | - | 18 3.OnandafterAugust28,2024,thedirectorofthedepartmentofeconomic | |
| 952 | - | 19development[andthedirectorofthedepartmentofrevenue] shall[jointly] administerthetax | |
| 953 | - | 20creditauthorizedbythissection.[Both] Thedirectorofthedepartmentofeconomic | |
| 954 | - | 21development[andthedirectorofthedepartmentofrevenueare]isauthorizedtopromulgate | |
| 955 | - | 22rulesandregulationsnecessarytoadministertheprovisionsofthissection.Noruleorportion | |
| 956 | - | 23ofarulepromulgatedpursuanttotheauthorityofthissectionshallbecomeeffectiveunlessit | |
| 957 | - | 24hasbeenpromulgatedpursuanttotheprovisionsofchapter536. | |
| 958 | - | 25 4.TheprovisionsofthissectionshallbecomeeffectiveonJanuary1,2000,andshall | |
| 959 | - | 26applytoall[taxable] taxyearsbeginningafterDecember31,1999. | |
| 960 | - | 27 5.(1)ForallfiscalyearsbeginningonorafterJuly1,2025,thecumulative | |
| 961 | - | 28amountoftaxcreditsallowedtoalltaxpayersunderthissectionshallnotexceedthe | |
| 962 | - | 29totalcapamountwhichshallbeanamountequaltotwentypercentgreaterthanthe | |
| 963 | - | 30highestannualamountoftaxcreditsredeemedinanyonepreviousfiscalyear,from | |
| 964 | - | 31fiscalyear2018tofiscalyear2024,asdeterminedandcalculatedbythedepartment. | |
| 965 | - | 32 (2)Iftheamountoftaxcreditsclaimedinafiscalyearunderthissectionexceeds | |
| 966 | - | 33thetotalcapdeterminedundersubdivision(1)ofthissubsection,taxcreditsshallbe | |
| 967 | - | 34allowedbasedontheorderinwhichtheyareclaimed. | |
| 968 | - | 35 6.Undersection23.253oftheMissourisunsetact: | |
| 969 | - | 36 (1)Theprovisionsoftheprogramauthorizedunderthissectionshall | |
| 970 | - | 37automaticallysunsetonAugust28,2030,unlessreauthorizedbyanactofthegeneral | |
| 971 | - | 38assembly; | |
| 972 | - | 39 (2)Ifsuchprogramisreauthorized,theprogramauthorizedunderthissection | |
| 973 | - | 40shallautomaticallysunsetsixyearsaftertheeffectivedateofthereauthorizationofthis | |
| 974 | - | 41section; | |
| 975 | - | 42 (3)ThissectionshallterminateonSeptemberfirstofthecalendaryear | |
| 976 | - | 43immediatelyfollowingthecalendaryearinwhichtheprogramauthorizedunderthis | |
| 977 | - | 44sectionissunset;and | |
| 978 | - | 45 (4)Theprovisionsofthissubsectionshallnotbeconstruedtolimitorinanyway | |
| 979 | - | 46impairataxpayer'sabilitytoredeemtaxcreditsauthorizedonorbeforethedatethe | |
| 980 | - | 47programauthorizedunderthissectionexpires. | |
| 981 | - | 135.530.Forthepurposesofsections[100.010,] 100.710,100.850,135.110, | |
| 982 | - | 2[135.200,135.258,135.313,135.403,] 135.405,[135.503,] 135.530,[135.545,] and215.030, | |
| 983 | - | 3[348.300,348.302,and620.1400to620.1460,] "distressedcommunity"meanseithera | |
| 984 | - | 4Missourimunicipalitywithinametropolitanstatisticalareawhichhasamedianhousehold | |
| 985 | - | 5incomeofunderseventypercentofthemedianhouseholdincomeforthemetropolitan | |
| 986 | - | HCSHB2319 27 6statisticalarea,accordingtotheUnitedStatesCensusBureau'sAmericanCommunitySurvey, | |
| 987 | - | 7basedonthemostrecentoffive-yearperiodestimatedatainwhichthefinalyearofthe | |
| 988 | - | 8estimateendsineitherzeroorfive,oraUnitedStatescensusblockgrouporcontiguousgroup | |
| 989 | - | 9ofblockgroupswithinametropolitanstatisticalareawhichhasapopulationofatleasttwo | |
| 990 | - | 10thousandfivehundred,andeachblockgrouphavingamedianhouseholdincomeofunder | |
| 991 | - | 11seventypercentofthemedianhouseholdincomeforthemetropolitanareainMissouri, | |
| 992 | - | 12accordingtotheUnitedStatesCensusBureau'sAmericanCommunitySurvey,basedonthe | |
| 993 | - | 13mostrecentoffive-yearperiodestimatedatainwhichthefinalyearoftheestimateendsin | |
| 994 | - | 14eitherzeroorfive.Inadditionthedefinitionshallincludemunicipalitiesnotinametropolitan | |
| 995 | - | 15statisticalarea,withamedianhouseholdincomeofunderseventypercentofthemedian | |
| 996 | - | 16householdincomeforthenonmetropolitanareasinMissouriaccordingtotheUnitedStates | |
| 997 | - | 17CensusBureau'sAmericanCommunitySurvey,basedonthemostrecentoffive-yearperiod | |
| 998 | - | 18estimatedatainwhichthefinalyearoftheestimateendsineitherzeroorfiveoracensus | |
| 999 | - | 19blockgrouporcontiguousgroupofblockgroupswhichhasapopulationofatleasttwo | |
| 1000 | - | 20thousandfivehundredwitheachblockgrouphavingamedianhouseholdincomeofunder | |
| 1001 | - | 21seventypercentofthemedianhouseholdincomeforthenonmetropolitanareasofMissouri, | |
| 1002 | - | 22accordingtotheUnitedStatesCensusBureau'sAmericanCommunitySurvey,basedonthe | |
| 1003 | - | 23mostrecentoffive-yearperiodestimatedatainwhichthefinalyearoftheestimateendsin | |
| 1004 | - | 24eitherzeroorfive.Inmetropolitanstatisticalareas,thedefinitionshallincludeareasthat | |
| 1005 | - | 25weredesignatedaseitherafederalempowermentzone;orafederalenhancedenterprise | |
| 1006 | - | 26community;orastateenterprisezonethatwasoriginallydesignatedbeforeJanuary1,1986, | |
| 1007 | - | 27butshallnotincludeexpansionsofsuchstateenterprisezonesdoneafterMarch16,1988. | |
| 948 | + | 11 2.Thetaxcreditallowedbythissectionshallbeclaimedbythetaxpayeratthetime | |
| 949 | + | 12suchtaxpayerfilesareturn.Anyamountoftaxcreditwhichexceedsthetaxdueshallbe | |
| 950 | + | 13carriedovertoanysubsequent[taxable] taxyear,butshallnotberefundedandshallnotbe | |
| 951 | + | 14transferable. | |
| 952 | + | 15 3.Aftertheeffectivedateofthissection,thedirectorofthedepartmentofeconomic | |
| 953 | + | 16development[andthedirectorofthedepartmentofrevenue] shall[jointly] administerthetax | |
| 954 | + | 17creditauthorizedbythissection.[Both] Thedirectorofthedepartmentofeconomic | |
| 955 | + | 18development[andthedirectorofthedepartmentofrevenueare]isauthorizedtopromulgate | |
| 956 | + | 19rulesandregulationsnecessarytoadministertheprovisionsofthissection.Noruleorportion | |
| 957 | + | 20ofarulepromulgatedpursuanttotheauthorityofthissectionshallbecomeeffectiveunlessit | |
| 958 | + | 21hasbeenpromulgatedpursuanttotheprovisionsofchapter536. | |
| 959 | + | 22 4.TheprovisionsofthissectionshallbecomeeffectiveonJanuary1,2000,andshall | |
| 960 | + | 23applytoall[taxable] taxyearsbeginningafterDecember31,1999. | |
| 961 | + | 24 5.(1)ForalltaxyearsbeginningonorafterJanuary1,2025,thecumulative | |
| 962 | + | 25amountoftaxcreditsallowedtoalltaxpayersunderthissectionshallnotexceedthe | |
| 963 | + | 26totalcapamountwhichshallbeanamountequaltotwentypercentgreaterthanthe | |
| 964 | + | 27highestannualamountoftaxcreditsredeemedinanyonepreviousfiscalyear,from | |
| 965 | + | 28fiscalyear2018tofiscalyear2024,asdeterminedandcalculatedbythedepartment. | |
| 966 | + | 29 (2)Iftheamountoftaxcreditsclaimedinataxyearunderthissectionexceeds | |
| 967 | + | 30thetotalcapdeterminedundersubdivision(2)ofthissubsection,taxcreditsshallbe | |
| 968 | + | 31allowedbasedontheorderinwhichtheyareclaimed. | |
| 969 | + | 32 6.Undersection23.253oftheMissourisunsetact: | |
| 970 | + | 33 (1)Theprovisionsoftheprogramauthorizedunderthissectionshall | |
| 971 | + | 34automaticallysunsetonDecember31,2030,unlessreauthorizedbyanactofthe | |
| 972 | + | 35generalassembly; | |
| 973 | + | 36 (2)Ifsuchprogramisreauthorized,theprogramauthorizedunderthissection | |
| 974 | + | 37shallautomaticallysunsetonDecemberthirty-first,sixyearsaftertheeffectivedateof | |
| 975 | + | 38thereauthorizationofthissection; | |
| 976 | + | 39 (3)ThissectionshallterminateonSeptemberfirstofthecalendaryear | |
| 977 | + | 40immediatelyfollowingthecalendaryearinwhichtheprogramauthorizedunderthis | |
| 978 | + | 41sectionissunset;and | |
| 979 | + | HB2319 27 42 (4)Theprovisionsofthissubsectionshallnotbeconstruedtolimitorinanyway | |
| 980 | + | 43impairataxpayer'sabilitytoredeemtaxcreditsauthorizedonorbeforethedatethe | |
| 981 | + | 44programauthorizedunderthissectionexpires. | |
| 982 | + | 135.550.1.Asusedinthissection,thefollowingtermsshallmean: | |
| 983 | + | 2 (1)"Contribution",adonationofcash,stock,bondsorothermarketablesecurities,or | |
| 984 | + | 3realproperty; | |
| 985 | + | 4 (2)"Rapecrisiscenter",acommunity-basednonprofitrapecrisiscenter,asdefinedin | |
| 986 | + | 5section455.003,locatedinthisstateandthatprovidesthetwenty-four-hourcoreservicesof | |
| 987 | + | 6hospitaladvocacyandcrisishotlinesupporttosurvivorsofrapeandsexualassault; | |
| 988 | + | 7 (3)"Shelterforvictimsofdomesticviolence",afacilitylocatedinthisstatewhich | |
| 989 | + | 8meetsthedefinitionofashelterforvictimsofdomesticviolencepursuanttosection455.200 | |
| 990 | + | 9andwhichmeetstherequirementsofsection455.220,oranonprofitorganizationestablished | |
| 991 | + | 10andoperatingexclusivelyforthepurposeofsupportingashelterforvictimsofdomestic | |
| 992 | + | 11violenceoperatedbythestateoroneofitspoliticalsubdivisions; | |
| 993 | + | 12 (4)"Statetaxliability",inthecaseofabusinesstaxpayer,anyliabilityincurredby | |
| 994 | + | 13suchtaxpayerpursuanttotheprovisionsofchapter143,chapter147,chapter148,andchapter | |
| 995 | + | 14153,exclusiveoftheprovisionsrelatingtothewithholdingoftaxasprovidedforinsections | |
| 996 | + | 15143.191to143.265andrelatedprovisions,andinthecaseofanindividualtaxpayer,any | |
| 997 | + | 16liabilityincurredbysuchtaxpayerpursuanttotheprovisionsofchapter143; | |
| 998 | + | 17 (5)"Taxpayer",aperson,firm,apartnerinafirm,corporationorashareholderinan | |
| 999 | + | 18ScorporationdoingbusinessinthestateofMissouriandsubjecttothestateincometax | |
| 1000 | + | 19imposedbytheprovisionsofchapter143,oracorporationsubjecttotheannualcorporation | |
| 1001 | + | 20franchisetaximposedbytheprovisionsofchapter147,includinganycharitableorganization | |
| 1002 | + | 21whichisexemptfromfederalincometaxandwhoseMissouriunrelatedbusinesstaxable | |
| 1003 | + | 22income,ifany,wouldbesubjecttothestateincometaximposedunderchapter143,oran | |
| 1004 | + | 23insurancecompanypayinganannualtaxonitsgrosspremiumreceiptsinthisstate,orother | |
| 1005 | + | 24financialinstitutionpayingtaxestothestateofMissourioranypoliticalsubdivisionofthis | |
| 1006 | + | 25statepursuanttotheprovisionsofchapter148,oranexpresscompanywhichpaysanannual | |
| 1007 | + | 26taxonitsgrossreceiptsinthisstatepursuanttochapter153,oranindividualsubjecttothe | |
| 1008 | + | 27stateincometaximposedbytheprovisionsofchapter143. | |
| 1009 | + | 28 2.Ataxpayershallbeallowedtoclaimataxcreditagainstthetaxpayer'sstatetax | |
| 1010 | + | 29liability,inanamountequaltofiftypercentoftheamountsuchtaxpayercontributedtoa | |
| 1011 | + | 30shelterforvictimsofdomesticviolenceorrapecrisiscenterforallfiscalyearsendingonor | |
| 1012 | + | 31beforeJune30,2022,andseventypercentoftheamountsuchtaxpayercontributedtoa | |
| 1013 | + | 32shelterforvictimsofdomesticviolenceorrapecrisiscenterforallfiscalyearsbeginningon | |
| 1014 | + | 33orafterJuly1,2022. | |
| 1015 | + | HB2319 28 34 3.Theamountofthetaxcreditclaimedshallnotexceedtheamountofthetaxpayer's | |
| 1016 | + | 35statetaxliabilityforthe[taxable] taxyearthatthecreditisclaimed,andsuchtaxpayershall | |
| 1017 | + | 36notbeallowedtoclaimataxcreditinexcessoffiftythousanddollarsper[taxable] taxyear. | |
| 1018 | + | 37However,anytaxcreditthatcannotbeclaimedinthe[taxable] taxyearthecontributionwas | |
| 1019 | + | 38mademaybecarriedoveronlytothenextsucceedingtaxyear.Taxcreditsissuedpursuantto | |
| 1020 | + | 39thissectionshallnotbeassigned,transferred,orsold. | |
| 1021 | + | 40 4.Exceptforanyexcesscreditwhichiscarriedoverpursuanttosubsection3ofthis | |
| 1022 | + | 41section,ataxpayershallnotbeallowedtoclaimataxcreditunlessthetotalamountofsuch | |
| 1023 | + | 42taxpayer'scontributionorcontributionstoashelterorsheltersforvictimsofdomestic | |
| 1024 | + | 43violenceorrapecrisiscenterinsuchtaxpayer's[taxable] taxyearhasavalueofatleastone | |
| 1025 | + | 44hundreddollars. | |
| 1026 | + | 45 5.Thedirectorofthedepartmentofsocialservicesshalldetermine,atleastannually, | |
| 1027 | + | 46whichfacilitiesinthisstatemaybeclassifiedassheltersforvictimsofdomesticviolenceand | |
| 1028 | + | 47rapecrisiscenters.Thedirectorofthedepartmentofsocialservicesmayrequireofafacility | |
| 1029 | + | 48seekingtobeclassifiedasashelterforvictimsofdomesticviolenceorrapecrisiscenter | |
| 1030 | + | 49whateverinformationisreasonablynecessarytomakesuchadetermination.Thedirectorof | |
| 1031 | + | 50thedepartmentofsocialservicesshallclassifyafacilityasashelterforvictimsofdomestic | |
| 1032 | + | 51violenceorrapecrisiscenterifsuchfacilitymeetsthedefinitionsetforthinsubsection1of | |
| 1033 | + | 52thissection. | |
| 1034 | + | 53 6.Thedirectorofthedepartmentofsocialservicesshallestablishaprocedureby | |
| 1035 | + | 54whichataxpayercandetermineifafacilityhasbeenclassifiedasashelterforvictimsof | |
| 1036 | + | 55domesticviolenceorrapecrisiscenter,andbywhichsuchtaxpayercanthencontributeto | |
| 1037 | + | 56suchshelterforvictimsofdomesticviolenceorrapecrisiscenterandclaimataxcredit. | |
| 1038 | + | 57Sheltersforvictimsofdomesticviolenceandrapecrisiscentersshallbepermittedtodecline | |
| 1039 | + | 58acontributionfromataxpayer.Thecumulativeamountoftaxcreditswhichmaybeclaimed | |
| 1040 | + | 59byallthetaxpayerscontributingtosheltersforvictimsofdomesticviolenceandrapecrisis | |
| 1041 | + | 60centersinanyonefiscalyearshallnotexceedtwomilliondollarsforallfiscalyearsending | |
| 1042 | + | 61onorbeforeJune30,2022.ForallfiscalyearsbeginningonorafterJuly1,2022,thereshall | |
| 1043 | + | 62benolimitimposedonthecumulativeamountoftaxcreditsthatmaybeclaimedbyall | |
| 1044 | + | 63taxpayerscontributingtosheltersforvictimsofdomesticviolenceandrapecrisiscenters | |
| 1045 | + | 64undertheprovisionsofthissection. | |
| 1046 | + | 65 7.ForallfiscalyearsendingonorbeforeJune30,2022,thedirectorofthe | |
| 1047 | + | 66departmentofsocialservicesshallestablishaprocedurebywhich,fromthebeginningofthe | |
| 1048 | + | 67fiscalyearuntilsomepointintimelaterinthefiscalyeartobedeterminedbythedirectorof | |
| 1049 | + | 68thedepartmentofsocialservices,thecumulativeamountoftaxcreditsareequally | |
| 1050 | + | 69apportionedamongallfacilitiesclassifiedassheltersforvictimsofdomesticviolenceand | |
| 1051 | + | 70rapecrisiscenters.Ifashelterforvictimsofdomesticviolenceorrapecrisiscenterfailsto | |
| 1052 | + | HB2319 29 71useall,orsomepercentagetobedeterminedbythedirectorofthedepartmentofsocial | |
| 1053 | + | 72services,ofitsapportionedtaxcreditsduringthispredeterminedperiodoftime,thedirector | |
| 1054 | + | 73ofthedepartmentofsocialservicesmayreapportiontheseunusedtaxcreditstothoseshelters | |
| 1055 | + | 74forvictimsofdomesticviolenceandrapecrisiscentersthathaveusedall,orsomepercentage | |
| 1056 | + | 75tobedeterminedbythedirectorofthedepartmentofsocialservices,oftheirapportionedtax | |
| 1057 | + | 76creditsduringthispredeterminedperiodoftime.Thedirectorofthedepartmentofsocial | |
| 1058 | + | 77servicesmayestablishmorethanoneperiodoftimeandreapportionmorethanonceduring | |
| 1059 | + | 78eachfiscalyear.Tothemaximumextentpossible,thedirectorofthedepartmentofsocial | |
| 1060 | + | 79servicesshallestablishtheproceduredescribedinthissubsectioninsuchamannerasto | |
| 1061 | + | 80ensurethattaxpayerscanclaimallthetaxcreditspossibleuptothecumulativeamountoftax | |
| 1062 | + | 81creditsavailableforthefiscalyear. | |
| 1063 | + | 82 8.ThissectionshallbecomeeffectiveJanuary1,2000,andshallapplytoalltaxyears | |
| 1064 | + | 83afterDecember31,1999. | |
| 1065 | + | 84 9.Undersection23.253oftheMissourisunsetact: | |
| 1066 | + | 85 (1)Theprovisionsoftheprogramauthorizedunderthissectionshall | |
| 1067 | + | 86automaticallysunsetonDecember31,2030,unlessreauthorizedbyanactofthe | |
| 1068 | + | 87generalassembly; | |
| 1069 | + | 88 (2)Ifsuchprogramisreauthorized,theprogramauthorizedunderthissection | |
| 1070 | + | 89shallautomaticallysunsetonDecemberthirty-first,sixyearsaftertheeffectivedateof | |
| 1071 | + | 90thereauthorizationofthissection; | |
| 1072 | + | 91 (3)ThissectionshallterminateonSeptemberfirstofthecalendaryear | |
| 1073 | + | 92immediatelyfollowingthecalendaryearinwhichtheprogramauthorizedunderthis | |
| 1074 | + | 93sectionissunset;and | |
| 1075 | + | 94 (4)Theprovisionsofthissubsectionshallnotbeconstruedtolimitorinanyway | |
| 1076 | + | 95impairataxpayer'sabilitytoredeemtaxcreditsauthorizedonorbeforethedatethe | |
| 1077 | + | 96programauthorizedunderthissectionexpires. | |
| 1008 | 1078 | 135.562.1.Ifanytaxpayerwithafederaladjustedgrossincomeofthirtythousand | |
| 1009 | 1079 | 2dollarsorlessincurscostsforthepurposeofmakingalloranyportionofsuchtaxpayer's | |
| 1010 | 1080 | 3principaldwellingaccessibletoanindividualwithadisabilitywhopermanentlyresideswith | |
| 1011 | 1081 | 4thetaxpayer,suchtaxpayershallreceiveataxcreditagainstsuchtaxpayer'sMissouriincome | |
| 1012 | 1082 | 5taxliabilityinanamountequaltothelesserofonehundredpercentofsuchcostsortwo | |
| 1013 | 1083 | 6thousandfivehundreddollarspertaxpayer,pertaxyear. | |
| 1014 | 1084 | 7 2.Anytaxpayerwithafederaladjustedgrossincomegreaterthanthirtythousand | |
| 1015 | 1085 | 8dollarsbutlessthansixtythousanddollarswhoincurscostsforthepurposeofmakingallor | |
| 1016 | 1086 | 9anyportionofsuchtaxpayer'sprincipaldwellingaccessibletoanindividualwithadisability | |
| 1017 | 1087 | 10whopermanentlyresideswiththetaxpayershallreceiveataxcreditagainstsuchtaxpayer's | |
| 1018 | 1088 | 11Missouriincometaxliabilityinanamountequaltothelesseroffiftypercentofsuchcostsor | |
| 1019 | - | 12twothousandfivehundreddollarspertaxpayerpertaxyear.Notaxpayershallbeeligibleto | |
| 1089 | + | HB2319 30 12twothousandfivehundreddollarspertaxpayerpertaxyear.Notaxpayershallbeeligibleto | |
| 1020 | 1090 | 13receivetaxcreditsunderthissectioninanytaxyearimmediatelyfollowingataxyearin | |
| 1021 | 1091 | 14whichsuchtaxpayerreceivedtaxcreditsundertheprovisionsofthissection. | |
| 1022 | - | ||
| 1092 | + | 15 3.Taxcreditsissuedunderthissectionmayberefundableinanamountnottoexceed | |
| 1023 | 1093 | 16twothousandfivehundreddollarspertaxyear. | |
| 1024 | 1094 | 17 4.Eligiblecostsforwhichthecreditmaybeclaimedinclude: | |
| 1025 | 1095 | 18 (1)Constructingentranceorexitramps; | |
| 1026 | 1096 | 19 (2)Wideningexteriororinteriordoorways; | |
| 1027 | 1097 | 20 (3)Wideninghallways; | |
| 1028 | 1098 | 21 (4)Installinghandrailsorgrabbars; | |
| 1029 | 1099 | 22 (5)Movingelectricaloutletsandswitches; | |
| 1030 | 1100 | 23 (6)Installingstairwaylifts; | |
| 1031 | 1101 | 24 (7)Installingormodifyingfirealarms,smokedetectors,andotheralertingsystems; | |
| 1032 | 1102 | 25 (8)Modifyinghardwareofdoors;or | |
| 1033 | 1103 | 26 (9)Modifyingbathrooms. | |
| 1034 | 1104 | 27 5.Thetaxcreditsallowed,includingthemaximumamountthatmaybeclaimed, | |
| 1035 | 1105 | 28underthissectionshallbereducedbyanamountsufficienttooffsetanyamountofsuchcosts | |
| 1036 | 1106 | 29ataxpayerhasalreadydeductedfromsuchtaxpayer'sfederaladjustedgrossincomeortothe | |
| 1037 | 1107 | 30extentsuchtaxpayerhasappliedanyotherstateorfederalincometaxcredittosuchcosts. | |
| 1038 | - | 31 6.[Ataxpayershallclaima]Thetaxcreditallowedbythissection[inthesametax | |
| 1039 | - | 32yearasthecreditisissued,andatthetimesuch],afterissuanceofataxcreditcertificateby | |
| 1040 | - | 33thedepartmentofeconomicdevelopment,shallberedeemedbyfilingacopyofthetax | |
| 1041 | - | 34creditcertificatewhenthetaxpayerfileshisorherMissouriincometaxreturn[;] forthetax | |
| 1042 | - | 35yearforwhichsuchcreditwasissued,providedthatsuchreturnistimelyfiled. | |
| 1043 | - | 36 7.Thedepartmentofeconomicdevelopmentmay,inconsultationwiththe | |
| 1044 | - | 37departmentofsocialservices,promulgatesuchrulesorregulationsasarenecessaryto | |
| 1045 | - | 38administertheprovisionsofthissection.Anyruleorportionofarule,asthattermisdefined | |
| 1046 | - | 39insection536.010,thatiscreatedundertheauthoritydelegatedinthissectionshallbecome | |
| 1047 | - | 40effectiveonlyifitcomplieswithandissubjecttoalloftheprovisionsofchapter536and,if | |
| 1048 | - | 41applicable,section536.028.Thissectionandchapter536arenonseverableandifanyofthe | |
| 1049 | - | 42powersvestedwiththegeneralassemblypursuanttochapter536toreview,todelaythe | |
| 1050 | - | 43effectivedateortodisapproveandannularulearesubsequentlyheldunconstitutional,then | |
| 1051 | - | 44thegrantofrulemakingauthorityandanyruleproposedoradoptedafterAugust28,2007, | |
| 1052 | - | 45shallbeinvalidandvoid. | |
| 1053 | - | 46 8.Theprovisionsofthissectionshallapplytoalltaxyearsbeginningonorafter | |
| 1054 | - | 47January1,2008. | |
| 1055 | - | 48 9.TheprovisionsofthissectionshallexpireDecember31,2025,unlessreauthorized | |
| 1056 | - | 49bythegeneralassembly.ThissectionshallterminateonSeptemberfirstofthecalendaryear | |
| 1057 | - | 50immediatelyfollowingthecalendaryearinwhichtheprogramauthorizedunderthissection | |
| 1058 | - | 51issunset.Theprovisionsofthissubsectionshallnotbeconstruedtolimitorinanyway | |
| 1059 | - | HCSHB2319 29 52impairthe[department's] departmentofrevenue'sabilitytoredeemtaxcreditsauthorized | |
| 1060 | - | 53onorbeforethedatetheprogramauthorizedunderthissectionexpiresorataxpayer'sability | |
| 1061 | - | 54toredeemsuchtaxcredits. | |
| 1062 | - | 55 10.Innoeventshalltheaggregateamountofalltaxcreditsallowedunderthissection | |
| 1063 | - | 56exceedonehundredthousanddollarsinanygivenfiscalyear.Thetaxcreditsissuedpursuant | |
| 1064 | - | 57tothissectionshallbeonafirst-come,first-servedfilingbasis. | |
| 1065 | - | 58 11.OnandafterAugust28,2024,thedepartmentofeconomicdevelopmentshall | |
| 1066 | - | 59administerthetaxcreditprovidedunderthissection. | |
| 1108 | + | 31 6.Ataxpayershallclaimacreditallowedbythissectioninthesametaxyearasthe | |
| 1109 | + | 32creditisissued,andatthetimesuchtaxpayerfileshisorherMissouriincometaxreturn; | |
| 1110 | + | 33providedthatsuchreturnistimelyfiled. | |
| 1111 | + | 34 7.Thedepartmentofeconomicdevelopmentmay,inconsultationwiththe | |
| 1112 | + | 35departmentofsocialservices,promulgatesuchrulesorregulationsasarenecessaryto | |
| 1113 | + | 36administertheprovisionsofthissection.Anyruleorportionofarule,asthattermisdefined | |
| 1114 | + | 37insection536.010,thatiscreatedundertheauthoritydelegatedinthissectionshallbecome | |
| 1115 | + | 38effectiveonlyifitcomplieswithandissubjecttoalloftheprovisionsofchapter536and,if | |
| 1116 | + | 39applicable,section536.028.Thissectionandchapter536arenonseverableandifanyofthe | |
| 1117 | + | 40powersvestedwiththegeneralassemblypursuanttochapter536toreview,todelaythe | |
| 1118 | + | 41effectivedateortodisapproveandannularulearesubsequentlyheldunconstitutional,then | |
| 1119 | + | 42thegrantofrulemakingauthorityandanyruleproposedoradoptedafterAugust28,2007, | |
| 1120 | + | 43shallbeinvalidandvoid. | |
| 1121 | + | 44 8.Theprovisionsofthissectionshallapplytoalltaxyearsbeginningonorafter | |
| 1122 | + | 45January1,2008. | |
| 1123 | + | 46 9.TheprovisionsofthissectionshallexpireDecember31,2025,unlessreauthorized | |
| 1124 | + | 47bythegeneralassembly.ThissectionshallterminateonSeptemberfirstofthecalendaryear | |
| 1125 | + | 48immediatelyfollowingthecalendaryearinwhichtheprogramauthorizedunderthissection | |
| 1126 | + | HB2319 31 49issunset.Theprovisionsofthissubsectionshallnotbeconstruedtolimitorinanyway | |
| 1127 | + | 50impairthedepartment'sabilitytoredeemtaxcreditsauthorizedonorbeforethedatethe | |
| 1128 | + | 51programauthorizedunderthissectionexpiresorataxpayer'sabilitytoredeemsuchtax | |
| 1129 | + | 52credits. | |
| 1130 | + | 53 10.Innoeventshalltheaggregateamountofalltaxcreditsallowedunderthissection | |
| 1131 | + | 54exceedonehundredthousanddollarsinanygivenfiscalyear.Thetaxcreditsissuedpursuant | |
| 1132 | + | 55tothissectionshallbeonafirst-come,first-servedfilingbasis. | |
| 1133 | + | 56 11.Aftertheeffectivedateofthissection,thedepartmentofeconomic | |
| 1134 | + | 57developmentshalladministerthetaxcreditprovidedunderthissection. | |
| 1135 | + | 135.600.1.Asusedinthissection,thefollowingtermsshallmean: | |
| 1136 | + | 2 (1)"Contribution",adonationofcash,stock,bondsorothermarketablesecurities,or | |
| 1137 | + | 3realproperty; | |
| 1138 | + | 4 (2)"Maternityhome",aresidentialfacilitylocatedinthisstate: | |
| 1139 | + | 5 (a)Establishedforthepurposeofprovidinghousingandassistancetopregnant | |
| 1140 | + | 6womenwhoarecarryingtheirpregnanciestoterm; | |
| 1141 | + | 7 (b)Thatdoesnotperform,induce,orreferforabortionsandthatdoesnotholditself | |
| 1142 | + | 8outasperforming,inducing,orreferringforabortions; | |
| 1143 | + | 9 (c)Thatprovidesservicesatnocosttoclients;and | |
| 1144 | + | 10 (d)ThatisexemptfromincometaxationundertheUnitedStatesInternalRevenue | |
| 1145 | + | 11Code; | |
| 1146 | + | 12 (3)"Statetaxliability",inthecaseofabusinesstaxpayer,anyliabilityincurredby | |
| 1147 | + | 13suchtaxpayerpursuanttotheprovisionsofchapter143,chapter147,chapter148,andchapter | |
| 1148 | + | 14153,exclusiveoftheprovisionsrelatingtothewithholdingoftaxasprovidedforinsections | |
| 1149 | + | 15143.191to143.265,andrelatedprovisions,andinthecaseofanindividualtaxpayer,any | |
| 1150 | + | 16liabilityincurredbysuchtaxpayerpursuanttotheprovisionsofchapter143; | |
| 1151 | + | 17 (4)"Taxpayer",aperson,firm,apartnerinafirm,corporationorashareholderinan | |
| 1152 | + | 18ScorporationdoingbusinessinthestateofMissouriandsubjecttothestateincometax | |
| 1153 | + | 19imposedbytheprovisionsofchapter143,includinganycharitableorganizationwhichis | |
| 1154 | + | 20exemptfromfederalincometaxandwhoseMissouriunrelatedbusinesstaxableincome,if | |
| 1155 | + | 21any,wouldbesubjecttothestateincometaximposedunderchapter143,oracorporation | |
| 1156 | + | 22subjecttotheannualcorporationfranchisetaximposedbytheprovisionsofchapter147,or | |
| 1157 | + | 23aninsurancecompanypayinganannualtaxonitsgrosspremiumreceiptsinthisstate,or | |
| 1158 | + | 24otherfinancialinstitutionpayingtaxestothestateofMissourioranypoliticalsubdivisionof | |
| 1159 | + | 25thisstatepursuanttotheprovisionsofchapter148,oranexpresscompanywhichpaysan | |
| 1160 | + | 26annualtaxonitsgrossreceiptsinthisstatepursuanttochapter153,oranindividualsubjectto | |
| 1161 | + | 27thestateincometaximposedbytheprovisionsofchapter143. | |
| 1162 | + | HB2319 32 28 2.Ataxpayershallbeallowedtoclaimataxcreditagainstthetaxpayer'sstatetax | |
| 1163 | + | 29liability,inanamountequaltofiftypercentoftheamountsuchtaxpayercontributedtoa | |
| 1164 | + | 30maternityhomeforallfiscalyearsendingonorbeforeJune30,2022,andseventypercentof | |
| 1165 | + | 31theamountsuchtaxpayercontributedtoamaternityhomeforallfiscalyearsbeginningonor | |
| 1166 | + | 32afterJuly1,2022. | |
| 1167 | + | 33 3.Theamountofthetaxcreditclaimedshallnotexceedtheamountofthetaxpayer's | |
| 1168 | + | 34statetaxliabilityforthetaxyearthatthecreditisclaimed,andsuchtaxpayershallnotbe | |
| 1169 | + | 35allowedtoclaimataxcreditinexcessoffiftythousanddollarspertaxyear.However,any | |
| 1170 | + | 36taxcreditthatcannotbeclaimedinthetaxyearthecontributionwasmademaybecarried | |
| 1171 | + | 37overonlytothenextsucceedingtaxyear.Notaxcreditissuedunderthissectionshallbe | |
| 1172 | + | 38assigned,transferred,orsold. | |
| 1173 | + | 39 4.Exceptforanyexcesscreditwhichiscarriedoverpursuanttosubsection3ofthis | |
| 1174 | + | 40section,ataxpayershallnotbeallowedtoclaimataxcreditunlessthetotalamountofsuch | |
| 1175 | + | 41taxpayer'scontributionorcontributionstoamaternityhomeorhomesinsuchtaxpayer'stax | |
| 1176 | + | 42yearhasavalueofatleastonehundreddollars. | |
| 1177 | + | 43 5.Thedirectorofthedepartmentofsocialservicesshalldetermine,atleastannually, | |
| 1178 | + | 44whichfacilitiesinthisstatemaybeclassifiedasmaternityhomes.Thedirectorofthe | |
| 1179 | + | 45departmentofsocialservicesmayrequireofafacilityseekingtobeclassifiedasamaternity | |
| 1180 | + | 46homewhateverinformationisreasonablynecessarytomakesuchadetermination.The | |
| 1181 | + | 47directorofthedepartmentofsocialservicesshallclassifyafacilityasamaternityhomeif | |
| 1182 | + | 48suchfacilitymeetsthedefinitionsetforthinsubsection1ofthissection. | |
| 1183 | + | 49 6.Thedirectorofthedepartmentofsocialservicesshallestablishaprocedureby | |
| 1184 | + | 50whichataxpayercandetermineifafacilityhasbeenclassifiedasamaternityhome,andby | |
| 1185 | + | 51whichsuchtaxpayercanthencontributetosuchmaternityhomeandclaimataxcredit. | |
| 1186 | + | 52Maternityhomesshallbepermittedtodeclineacontributionfromataxpayer.The | |
| 1187 | + | 53cumulativeamountoftaxcreditswhichmaybeclaimedbyallthetaxpayerscontributingto | |
| 1188 | + | 54maternityhomesinanyonefiscalyearshallnotexceedtwomilliondollarsforallfiscalyears | |
| 1189 | + | 55endingonorbeforeJune30,2014,andtwomillionfivehundredthousanddollarsforall | |
| 1190 | + | 56fiscalyearsbeginningonorafterJuly1,2014,andendingonorbeforeJune30,2019,and | |
| 1191 | + | 57threemillionfivehundredthousanddollarsforallfiscalyearsbeginningonorafterJuly1, | |
| 1192 | + | 582019,andendingonorbeforeJune30,2022.ForallfiscalyearsbeginningonorafterJuly1, | |
| 1193 | + | 592022,thereshallbenolimitimposedonthecumulativeamountoftaxcreditsthatmaybe | |
| 1194 | + | 60claimedbyalltaxpayerscontributingtomaternityhomesundertheprovisionsofthissection. | |
| 1195 | + | 61Taxcreditsshallbeissuedintheordercontributionsarereceived.Iftheamountoftaxcredits | |
| 1196 | + | 62redeemedinafiscalyearislessthanthecumulativeamountauthorizedunderthissubsection, | |
| 1197 | + | 63thedifferenceshallbecarriedovertoasubsequentfiscalyearoryearsandshallbeaddedto | |
| 1198 | + | 64thecumulativeamountoftaxcreditsthatmaybeauthorizedinthatfiscalyearoryears. | |
| 1199 | + | HB2319 33 65 7.ForallfiscalyearsendingonorbeforeJune30,2022,thedirectorofthe | |
| 1200 | + | 66departmentofsocialservicesshallestablishaprocedurebywhich,fromthebeginningofthe | |
| 1201 | + | 67fiscalyearuntilsomepointintimelaterinthefiscalyeartobedeterminedbythedirectorof | |
| 1202 | + | 68thedepartmentofsocialservices,thecumulativeamountoftaxcreditsareequally | |
| 1203 | + | 69apportionedamongallfacilitiesclassifiedasmaternityhomes.Ifamaternityhomefailsto | |
| 1204 | + | 70useall,orsomepercentagetobedeterminedbythedirectorofthedepartmentofsocial | |
| 1205 | + | 71services,ofitsapportionedtaxcreditsduringthispredeterminedperiodoftime,thedirector | |
| 1206 | + | 72ofthedepartmentofsocialservicesmayreapportiontheseunusedtaxcreditstothose | |
| 1207 | + | 73maternityhomesthathaveusedall,orsomepercentagetobedeterminedbythedirectorof | |
| 1208 | + | 74thedepartmentofsocialservices,oftheirapportionedtaxcreditsduringthispredetermined | |
| 1209 | + | 75periodoftime.Thedirectorofthedepartmentofsocialservicesmayestablishmorethanone | |
| 1210 | + | 76periodoftimeandreapportionmorethanonceduringeachfiscalyear.Tothemaximum | |
| 1211 | + | 77extentpossible,thedirectorofthedepartmentofsocialservicesshallestablishtheprocedure | |
| 1212 | + | 78describedinthissubsectioninsuchamannerastoensurethattaxpayerscanclaimallthetax | |
| 1213 | + | 79creditspossibleuptothecumulativeamountoftaxcreditsavailableforthefiscalyear. | |
| 1214 | + | 80 8.ThissectionshallbecomeeffectiveJanuary1,2000,andshallapplytoalltaxyears | |
| 1215 | + | 81afterDecember31,1999. | |
| 1216 | + | 82 9.Undersection23.253oftheMissourisunsetact: | |
| 1217 | + | 83 (1)Theprovisionsoftheprogramauthorizedunderthissectionshall | |
| 1218 | + | 84automaticallysunsetonDecember31,2030,unlessreauthorizedbyanactofthe | |
| 1219 | + | 85generalassembly; | |
| 1220 | + | 86 (2)Ifsuchprogramisreauthorized,theprogramauthorizedunderthissection | |
| 1221 | + | 87shallautomaticallysunsetonDecemberthirty-first,sixyearsaftertheeffectivedateof | |
| 1222 | + | 88thereauthorizationofthissection; | |
| 1223 | + | 89 (3)ThissectionshallterminateonSeptemberfirstofthecalendaryear | |
| 1224 | + | 90immediatelyfollowingthecalendaryearinwhichtheprogramauthorizedunderthis | |
| 1225 | + | 91sectionissunset;and | |
| 1226 | + | 92 (4)Theprovisionsofthissubsectionshallnotbeconstruedtolimitorinanyway | |
| 1227 | + | 93impairataxpayer'sabilitytoredeemtaxcreditsauthorizedonorbeforethedatethe | |
| 1228 | + | 94programauthorizedunderthissectionexpires. | |
| 1229 | + | 135.630.1.Asusedinthissection,thefollowingtermsmean: | |
| 1230 | + | 2 (1)"Contribution",adonationofcash,stock,bonds,orothermarketablesecurities,or | |
| 1231 | + | 3realproperty; | |
| 1232 | + | 4 (2)"Director",thedirectorofthedepartmentofsocialservices; | |
| 1233 | + | 5 (3)"Pregnancyresourcecenter",anonresidentialfacilitylocatedinthisstate: | |
| 1234 | + | 6 (a)Establishedandoperatingprimarilytoprovideassistancetowomenandfamilies | |
| 1235 | + | 7withcrisispregnanciesorunplannedpregnanciesbyofferingpregnancytesting,counseling, | |
| 1236 | + | HB2319 34 8emotionalandmaterialsupport,andothersimilarservicesorbyofferingservicesasdescribed | |
| 1237 | + | 9undersubsection2ofsection188.325,toencourageandassistsuchwomenandfamiliesin | |
| 1238 | + | 10carryingtheirpregnanciestoterm;and | |
| 1239 | + | 11 (b)Wherechildbirthsarenotperformed;and | |
| 1240 | + | 12 (c)Whichdoesnotperform,induce,orreferforabortionsandwhichdoesnothold | |
| 1241 | + | 13itselfoutasperforming,inducing,orreferringforabortions;and | |
| 1242 | + | 14 (d)Whichprovidesdirectclientservicesatthefacility,asopposedtomerely | |
| 1243 | + | 15providingcounselingorreferralservicesbytelephone;and | |
| 1244 | + | 16 (e)Whichprovidesitsservicesatnocosttoitsclients;and | |
| 1245 | + | 17 (f)Whenprovidingmedicalservices,suchmedicalservicesmustbeperformedin | |
| 1246 | + | 18accordancewithMissouristatute;and | |
| 1247 | + | 19 (g)WhichisexemptfromincometaxationpursuanttotheInternalRevenueCodeof | |
| 1248 | + | 201986,asamended; | |
| 1249 | + | 21 (4)"Statetaxliability",inthecaseofabusinesstaxpayer,anyliabilityincurredby | |
| 1250 | + | 22suchtaxpayerpursuanttotheprovisionsofchapters143,147,148,and153,excluding | |
| 1251 | + | 23sections143.191to143.265andrelatedprovisions,andinthecaseofanindividualtaxpayer, | |
| 1252 | + | 24anyliabilityincurredbysuchtaxpayerpursuanttotheprovisionsofchapter143,excluding | |
| 1253 | + | 25sections143.191to143.265andrelatedprovisions; | |
| 1254 | + | 26 (5)"Taxpayer",aperson,firm,apartnerinafirm,corporation,orashareholderinan | |
| 1255 | + | 27ScorporationdoingbusinessinthestateofMissouriandsubjecttothestateincometax | |
| 1256 | + | 28imposedbytheprovisionsofchapter143,oracorporationsubjecttotheannualcorporation | |
| 1257 | + | 29franchisetaximposedbytheprovisionsofchapter147,oraninsurancecompanypayingan | |
| 1258 | + | 30annualtaxonitsgrosspremiumreceiptsinthisstate,orotherfinancialinstitutionpaying | |
| 1259 | + | 31taxestothestateofMissourioranypoliticalsubdivisionofthisstatepursuanttothe | |
| 1260 | + | 32provisionsofchapter148,oranexpresscompanywhichpaysanannualtaxonitsgross | |
| 1261 | + | 33receiptsinthisstatepursuanttochapter153,oranindividualsubjecttothestateincometax | |
| 1262 | + | 34imposedbytheprovisionsofchapter143,oranycharitableorganizationwhichisexempt | |
| 1263 | + | 35fromfederalincometaxandwhoseMissouriunrelatedbusinesstaxableincome,ifany,would | |
| 1264 | + | 36besubjecttothestateincometaximposedunderchapter143. | |
| 1265 | + | 37 2.(1)BeginningonMarch29,2013,anycontributiontoapregnancyresourcecenter | |
| 1266 | + | 38madeonorafterJanuary1,2013,shallbeeligiblefortaxcreditsasprovidedbythissection. | |
| 1267 | + | 39 (2)ForalltaxyearsbeginningonorafterJanuary1,2007,andendingonorbefore | |
| 1268 | + | 40December31,2020,ataxpayershallbeallowedtoclaimataxcreditagainstthetaxpayer's | |
| 1269 | + | 41statetaxliabilityinanamountequaltofiftypercentoftheamountsuchtaxpayercontributed | |
| 1270 | + | 42toapregnancyresourcecenter.ForalltaxyearsbeginningonorafterJanuary1,2021,a | |
| 1271 | + | 43taxpayershallbeallowedtoclaimataxcreditagainstthetaxpayer'sstatetaxliabilityinan | |
| 1272 | + | HB2319 35 44amountequaltoseventypercentoftheamountsuchtaxpayercontributedtoapregnancy | |
| 1273 | + | 45resourcecenter. | |
| 1274 | + | 46 3.Theamountofthetaxcreditclaimedshallnotexceedtheamountofthetaxpayer's | |
| 1275 | + | 47statetaxliabilityforthetaxyearforwhichthecreditisclaimed,andsuchtaxpayershallnot | |
| 1276 | + | 48beallowedtoclaimataxcreditinexcessoffiftythousanddollarspertaxyear.However,any | |
| 1277 | + | 49taxcreditthatcannotbeclaimedinthetaxyearthecontributionwasmademaybecarried | |
| 1278 | + | 50overonlytothenextsucceedingtaxyear.Notaxcreditissuedunderthissectionshallbe | |
| 1279 | + | 51assigned,transferred,orsold. | |
| 1280 | + | 52 4.Exceptforanyexcesscreditwhichiscarriedoverpursuanttosubsection3ofthis | |
| 1281 | + | 53section,ataxpayershallnotbeallowedtoclaimataxcreditunlessthetotalamountofsuch | |
| 1282 | + | 54taxpayer'scontributionorcontributionstoapregnancyresourcecenterorcentersinsuch | |
| 1283 | + | 55taxpayer'staxyearhasavalueofatleastonehundreddollars. | |
| 1284 | + | 56 5.Thedirectorshalldetermine,atleastannually,whichfacilitiesinthisstatemaybe | |
| 1285 | + | 57classifiedaspregnancyresourcecenters.Thedirectormayrequireofafacilityseekingtobe | |
| 1286 | + | 58classifiedasapregnancyresourcecenterwhateverinformationwhichisreasonablynecessary | |
| 1287 | + | 59tomakesuchadetermination.Thedirectorshallclassifyafacilityasapregnancyresource | |
| 1288 | + | 60centerifsuchfacilitymeetsthedefinitionsetforthinsubsection1ofthissection. | |
| 1289 | + | 61 6.Thedirectorshallestablishaprocedurebywhichataxpayercandetermineifa | |
| 1290 | + | 62facilityhasbeenclassifiedasapregnancyresourcecenter.Pregnancyresourcecentersshall | |
| 1291 | + | 63bepermittedtodeclineacontributionfromataxpayer.Thecumulativeamountoftaxcredits | |
| 1292 | + | 64whichmaybeclaimedbyallthetaxpayerscontributingtopregnancyresourcecentersinany | |
| 1293 | + | 65onefiscalyearshallnotexceedtwomilliondollarsforallfiscalyearsendingonorbefore | |
| 1294 | + | 66June30,2014,andtwomillionfivehundredthousanddollarsforallfiscalyearsbeginningon | |
| 1295 | + | 67orafterJuly1,2014,andendingonorbeforeJune30,2019,andthreemillionfivehundred | |
| 1296 | + | 68thousanddollarsforallfiscalyearsbeginningonorafterJuly1,2019,andendingonor | |
| 1297 | + | 69beforeJune30,2021.ForallfiscalyearsbeginningonorafterJuly1,2021,thereshallbeno | |
| 1298 | + | 70limitimposedonthecumulativeamountoftaxcreditsthatmaybeclaimedbyalltaxpayers | |
| 1299 | + | 71contributingtopregnancyresourcecentersundertheprovisionsofthissection.Taxcredits | |
| 1300 | + | 72shallbeissuedintheordercontributionsarereceived.Iftheamountoftaxcreditsredeemed | |
| 1301 | + | 73inafiscalyearislessthanthecumulativeamountauthorizedunderthissubsection,the | |
| 1302 | + | 74differenceshallbecarriedovertoasubsequentfiscalyearoryearsandshallbeaddedtothe | |
| 1303 | + | 75cumulativeamountoftaxcreditsthatmaybeauthorizedinthatfiscalyearoryears. | |
| 1304 | + | 76 7.ForallfiscalyearsendingonorbeforeJune30,2021,thedirectorshallestablisha | |
| 1305 | + | 77procedurebywhich,fromthebeginningofthefiscalyearuntilsomepointintimelaterinthe | |
| 1306 | + | 78fiscalyeartobedeterminedbythedirector,thecumulativeamountoftaxcreditsareequally | |
| 1307 | + | 79apportionedamongallfacilitiesclassifiedaspregnancyresourcecenters.Ifapregnancy | |
| 1308 | + | 80resourcecenterfailstouseall,orsomepercentagetobedeterminedbythedirector,ofits | |
| 1309 | + | HB2319 36 81apportionedtaxcreditsduringthispredeterminedperiodoftime,thedirectormayreapportion | |
| 1310 | + | 82theseunusedtaxcreditstothosepregnancyresourcecentersthathaveusedall,orsome | |
| 1311 | + | 83percentagetobedeterminedbythedirector,oftheirapportionedtaxcreditsduringthis | |
| 1312 | + | 84predeterminedperiodoftime.Thedirectormayestablishmorethanoneperiodoftimeand | |
| 1313 | + | 85reapportionmorethanonceduringeachfiscalyear.Tothemaximumextentpossible,the | |
| 1314 | + | 86directorshallestablishtheproceduredescribedinthissubsectioninsuchamannerasto | |
| 1315 | + | 87ensurethattaxpayerscanclaimallthetaxcreditspossibleuptothecumulativeamountoftax | |
| 1316 | + | 88creditsavailableforthefiscalyear. | |
| 1317 | + | 89 8.Eachpregnancyresourcecentershallprovideinformationtothedirector | |
| 1318 | + | 90concerningtheidentityofeachtaxpayermakingacontributiontothepregnancyresource | |
| 1319 | + | 91centerwhoisclaimingataxcreditpursuanttothissectionandtheamountofthecontribution. | |
| 1320 | + | 92Thedirectorshallprovidetheinformationtothedirectorofrevenue.Thedirectorshallbe | |
| 1321 | + | 93subjecttotheconfidentialityandpenaltyprovisionsofsection32.057relatingtothe | |
| 1322 | + | 94disclosureoftaxinformation. | |
| 1323 | + | 95 9.[Theprovisionsof]Undersection23.253[shallnotapplytothissection] ofthe | |
| 1324 | + | 96Missourisunsetact: | |
| 1325 | + | 97 (1)Theprovisionsoftheprogramauthorizedunderthissectionshall | |
| 1326 | + | 98automaticallysunsetonDecember31,2030,unlessreauthorizedbyanactofthe | |
| 1327 | + | 99generalassembly; | |
| 1328 | + | 100 (2)Ifsuchprogramisreauthorized,theprogramauthorizedunderthissection | |
| 1329 | + | 101shallautomaticallysunsetonDecemberthirty-first,sixyearsaftertheeffectivedateof | |
| 1330 | + | 102thereauthorizationofthissection; | |
| 1331 | + | 103 (3)ThissectionshallterminateonSeptemberfirstofthecalendaryear | |
| 1332 | + | 104immediatelyfollowingthecalendaryearinwhichtheprogramauthorizedunderthis | |
| 1333 | + | 105sectionissunset;and | |
| 1334 | + | 106 (4)Theprovisionsofthissubsectionshallnotbeconstruedtolimitorinanyway | |
| 1335 | + | 107impairataxpayer'sabilitytoredeemtaxcreditsauthorizedonorbeforethedatethe | |
| 1336 | + | 108programauthorizedunderthissectionexpires. | |
| 1067 | 1337 | 135.647.1.Asusedinthissection,thefollowingtermsshallmean: | |
| 1068 | 1338 | 2 (1)"Department",thedepartmentofsocialservices; | |
| 1069 | 1339 | 3 (2)"Localfoodpantry",anyfoodpantrythatis: | |
| 1070 | 1340 | 4 (a)Exemptfromtaxationundersection501(c)(3)oftheInternalRevenueCodeof | |
| 1071 | 1341 | 51986,asamended;and | |
| 1072 | 1342 | 6 (b)DistributingemergencyfoodsuppliestoMissourilow-incomepeoplewhowould | |
| 1073 | 1343 | 7otherwisenothaveaccesstofoodsuppliesintheareainwhichthetaxpayerclaimingthetax | |
| 1074 | 1344 | 8creditunderthissectionresides; | |
| 1075 | 1345 | 9 [(2)](3)"Localhomelessshelter",anyhomelessshelterthatis: | |
| 1076 | - | 10 (a)ExemptfromtaxationunderSection501(c)(3)oftheInternalRevenueCodeof | |
| 1346 | + | HB2319 37 10 (a)ExemptfromtaxationunderSection501(c)(3)oftheInternalRevenueCodeof | |
| 1077 | 1347 | 111986,asamended;and | |
| 1078 | 1348 | 12 (b)Providingtemporarylivingarrangements,intheareainwhichthetaxpayer | |
| 1079 | 1349 | 13claimingthetaxcreditunderthissectionresides,forindividualsandfamilieswhootherwise | |
| 1080 | 1350 | 14lackafixed,regular,andadequatenighttimeresidenceandlacktheresourcesorsupport | |
| 1081 | 1351 | 15networkstoobtainotherpermanenthousing; | |
| 1082 | 1352 | 16 [(3)](4)"Localsoupkitchen",anysoupkitchenthatis: | |
| 1083 | 1353 | 17 (a)Exemptfromtaxationundersection501(c)(3)oftheInternalRevenueCodeof | |
| 1084 | 1354 | 181986,asamended;and | |
| 1085 | 1355 | 19 (b)Providingpreparedmealsthroughanestablishedcongregatefeedingoperationto | |
| 1086 | 1356 | 20needy,low-incomepersonsincluding,butnotlimitedto,homelesspersonsintheareain | |
| 1087 | 1357 | 21whichthetaxpayerclaimingthetaxcreditunderthissectionresides; | |
| 1088 | 1358 | 22 [(4)](5)"Taxpayer",anindividual,afirm,apartnerinafirm,corporation,ora | |
| 1089 | 1359 | 23shareholderinanScorporationdoingbusinessinthisstateandsubjecttothestateincometax | |
| 1090 | 1360 | 24imposedbychapter143,excludingwithholdingtaximposedbysections143.191to143.265. | |
| 1091 | 1361 | 25 2.(1)BeginningonMarch29,2013,anydonationofcashorfoodmadetoalocal | |
| 1092 | 1362 | 26foodpantryonorafterJanuary1,2013,unlesssuchfoodisdonatedafterthefood'sexpiration | |
| 1093 | 1363 | 27date,shallbeeligiblefortaxcreditsasprovidedbythissection. | |
| 1094 | - | ||
| 1364 | + | 28 (2)BeginningonAugust28,2018,anydonationofcashorfoodmadetoalocalsoup | |
| 1095 | 1365 | 29kitchenorlocalhomelessshelteronorafterJanuary1,2018,unlesssuchfoodisdonatedafter | |
| 1096 | 1366 | 30thefood'sexpirationdate,shallbeeligibleforataxcreditasprovidedunderthissection. | |
| 1097 | 1367 | 31 (3)Anytaxpayerwhomakesadonationthatiseligibleforataxcreditunderthis | |
| 1098 | 1368 | 32sectionshallbeallowedacreditagainstthetaxotherwisedueunderchapter143,excluding | |
| 1099 | 1369 | 33withholdingtaximposedbysections143.191to143.265,inanamountequaltofiftypercent | |
| 1100 | 1370 | 34ofthevalueofthedonationsmadetotheextentsuchamountsthathavebeensubtractedfrom | |
| 1101 | 1371 | 35federaladjustedgrossincomeorfederaltaxableincomeareaddedbackinthedetermination | |
| 1102 | 1372 | 36ofMissouriadjustedgrossincomeorMissouritaxableincomebeforethecreditcanbe | |
| 1103 | - | 37[claimed] redeemed. Eachtaxpayerclaimingataxcreditunderthissectionshallfilean | |
| 1104 | - | 38affidavitwiththe[incometaxreturn] applicationtothedepartmentofsocialservices | |
| 1105 | - | 39verifyingtheamountoftheircontributions.Thedepartmentshallprescribethemethod | |
| 1106 | - | 40forsubmittingapplicationsforclaimingthetaxcreditallowedbythissection.After | |
| 1107 | - | 41issuanceofataxcreditcertificatebythedepartment,suchtaxcreditshallberedeemed | |
| 1108 | - | 42byfilingacopyofthetaxcreditcertificatewiththetaxpayer'sincometaxreturnforthe | |
| 1109 | - | 43taxyearforwhichsuchcreditwasissued.Theamountofthetaxcreditclaimedshallnot | |
| 1110 | - | 44exceedtheamountofthetaxpayer'sstatetaxliabilityforthetaxyearthatthecreditisclaimed | |
| 1111 | - | 45andshallnotexceedtwothousandfivehundreddollarspertaxpayerclaimingthecredit.Any | |
| 1112 | - | 46amountofcreditthatthetaxpayerisprohibitedbythissectionfromclaiminginataxyear | |
| 1113 | - | 47shallnotberefundable,butmaybecarriedforwardtoanyofthetaxpayer'sthreesubsequent | |
| 1114 | - | 48taxyears.Notaxcreditgrantedunderthissectionshallbetransferred,sold,orassigned.No | |
| 1115 | - | 49taxpayershallbeeligibletoreceiveacreditpursuanttothissectionifsuchtaxpayeremploys | |
| 1116 | - | 50personswhoarenotauthorizedtoworkintheUnitedStatesunderfederallaw.Notaxpayer | |
| 1117 | - | 51shallbeabletoclaimmorethanonecreditunderthissectionforasingledonation. | |
| 1118 | - | 52 3.Thecumulativeamountoftaxcreditsunderthissectionwhichmaybeallocatedto | |
| 1119 | - | 53alltaxpayerscontributingtoalocalfoodpantry,localsoupkitchen,orlocalhomelessshelter | |
| 1120 | - | 54inanyonefiscalyearshallnotexceedonemillionsevenhundredfiftythousanddollars.The | |
| 1121 | - | 55[directorofrevenue] departmentshallestablishaprocedurebywhichthecumulative | |
| 1122 | - | 56amountoftaxcreditsisapportionedamongalltaxpayersclaimingthecreditbyAprilfifteenth | |
| 1123 | - | 57ofthefiscalyearinwhichthetaxcreditisclaimed.Tothemaximumextentpossible,the | |
| 1124 | - | 58[directorofrevenue] departmentshallestablishtheproceduredescribedinthissubsectionin | |
| 1125 | - | 59suchamannerastoensurethattaxpayerscanclaimallthetaxcreditspossibleuptothe | |
| 1126 | - | 60cumulativeamountoftaxcreditsavailableforthefiscalyear. | |
| 1127 | - | 61 4.Anylocalfoodpantry,localsoupkitchen,orlocalhomelesssheltermayacceptor | |
| 1128 | - | 62rejectanydonationoffoodmadeunderthissectionforanyreason.Forpurposesofthis | |
| 1129 | - | 63section,anydonationsoffoodacceptedbyalocalfoodpantry,localsoupkitchen,orlocal | |
| 1130 | - | HCSHB2319 31 64homelesssheltershallbevaluedatfairmarketvalue,oratwholesalevalueifthetaxpayer | |
| 1131 | - | 65makingthedonationoffoodisaretailgrocerystore,foodbroker,wholesaler,orrestaurant. | |
| 1132 | - | 66 5.Thedepartmentof[revenue] socialservicesshallpromulgaterulestoimplement | |
| 1133 | - | 67theprovisionsofthissection.Anyruleorportionofarule,asthattermisdefinedinsection | |
| 1134 | - | 68536.010,thatiscreatedundertheauthoritydelegatedinthissectionshallbecomeeffective | |
| 1135 | - | 69onlyifitcomplieswithandissubjecttoalloftheprovisionsofchapter536and,ifapplicable, | |
| 1136 | - | 70section536.028.Thissectionandchapter536arenonseverableandifanyofthepowers | |
| 1137 | - | 71vestedwiththegeneralassemblypursuanttochapter536toreview,todelaytheeffective | |
| 1138 | - | 72date,ortodisapproveandannularulearesubsequentlyheldunconstitutional,thenthegrant | |
| 1139 | - | 73ofrulemakingauthorityandanyruleproposedoradoptedafterAugust28,2007,shallbe | |
| 1140 | - | 74invalidandvoid. | |
| 1141 | - | 75 6.Undersection23.253oftheMissourisunsetact: | |
| 1142 | - | 76 (1)TheprogramauthorizedunderthissectionshallbereauthorizedasofAugust28, | |
| 1143 | - | 772018,andshallexpireonDecember31,2026,unlessreauthorizedbythegeneralassembly; | |
| 1144 | - | 78and | |
| 1145 | - | 79 (2)ThissectionshallterminateonSeptemberfirstofthecalendaryearimmediately | |
| 1146 | - | 80followingthecalendaryearinwhichtheprogramauthorizedunderthissectionissunset;and | |
| 1147 | - | 81 (3)Theprovisionsofthissubsectionshallnotbeconstruedtolimitorinanyway | |
| 1148 | - | 82impairataxpayer'sabilitytoredeemtaxcreditsauthorizedonorbeforethedatetheprogram | |
| 1149 | - | 83authorizedunderthissectionexpires. | |
| 1150 | - | 84 7.OnandafterAugust28,2024,thedepartmentofsocialservicesshall | |
| 1151 | - | 85administerthetaxcreditprovidedunderthissection. | |
| 1373 | + | 37claimed.Eachtaxpayerclaimingataxcreditunderthissectionshallfileanaffidavitwiththe | |
| 1374 | + | 38incometaxreturnverifyingtheamountoftheircontributions.Theamountofthetaxcredit | |
| 1375 | + | 39claimedshallnotexceedtheamountofthetaxpayer'sstatetaxliabilityforthetaxyearthat | |
| 1376 | + | 40thecreditisclaimedandshallnotexceedtwothousandfivehundreddollarspertaxpayer | |
| 1377 | + | 41claimingthecredit.Anyamountofcreditthatthetaxpayerisprohibitedbythissectionfrom | |
| 1378 | + | 42claiminginataxyearshallnotberefundable,butmaybecarriedforwardtoanyofthe | |
| 1379 | + | 43taxpayer'sthreesubsequenttaxyears.Notaxcreditgrantedunderthissectionshallbe | |
| 1380 | + | 44transferred,sold,orassigned.Notaxpayershallbeeligibletoreceiveacreditpursuanttothis | |
| 1381 | + | 45sectionifsuchtaxpayeremployspersonswhoarenotauthorizedtoworkintheUnitedStates | |
| 1382 | + | HB2319 38 46underfederallaw.Notaxpayershallbeabletoclaimmorethanonecreditunderthissection | |
| 1383 | + | 47forasingledonation. | |
| 1384 | + | 48 3.Thecumulativeamountoftaxcreditsunderthissectionwhichmaybeallocatedto | |
| 1385 | + | 49alltaxpayerscontributingtoalocalfoodpantry,localsoupkitchen,orlocalhomelessshelter | |
| 1386 | + | 50inanyonefiscalyearshallnotexceedonemillionsevenhundredfiftythousanddollars.The | |
| 1387 | + | 51[directorofrevenue] departmentshallestablishaprocedurebywhichthecumulative | |
| 1388 | + | 52amountoftaxcreditsisapportionedamongalltaxpayersclaimingthecreditbyAprilfifteenth | |
| 1389 | + | 53ofthefiscalyearinwhichthetaxcreditisclaimed.Tothemaximumextentpossible,the | |
| 1390 | + | 54[directorofrevenue] departmentshallestablishtheproceduredescribedinthissubsectionin | |
| 1391 | + | 55suchamannerastoensurethattaxpayerscanclaimallthetaxcreditspossibleuptothe | |
| 1392 | + | 56cumulativeamountoftaxcreditsavailableforthefiscalyear. | |
| 1393 | + | 57 4.Anylocalfoodpantry,localsoupkitchen,orlocalhomelesssheltermayacceptor | |
| 1394 | + | 58rejectanydonationoffoodmadeunderthissectionforanyreason.Forpurposesofthis | |
| 1395 | + | 59section,anydonationsoffoodacceptedbyalocalfoodpantry,localsoupkitchen,orlocal | |
| 1396 | + | 60homelesssheltershallbevaluedatfairmarketvalue,oratwholesalevalueifthetaxpayer | |
| 1397 | + | 61makingthedonationoffoodisaretailgrocerystore,foodbroker,wholesaler,orrestaurant. | |
| 1398 | + | 62 5.Thedepartmentof[revenue] socialservicesshallpromulgaterulestoimplement | |
| 1399 | + | 63theprovisionsofthissection.Anyruleorportionofarule,asthattermisdefinedinsection | |
| 1400 | + | 64536.010,thatiscreatedundertheauthoritydelegatedinthissectionshallbecomeeffective | |
| 1401 | + | 65onlyifitcomplieswithandissubjecttoalloftheprovisionsofchapter536and,ifapplicable, | |
| 1402 | + | 66section536.028.Thissectionandchapter536arenonseverableandifanyofthepowers | |
| 1403 | + | 67vestedwiththegeneralassemblypursuanttochapter536toreview,todelaytheeffective | |
| 1404 | + | 68date,ortodisapproveandannularulearesubsequentlyheldunconstitutional,thenthegrant | |
| 1405 | + | 69ofrulemakingauthorityandanyruleproposedoradoptedafterAugust28,2007,shallbe | |
| 1406 | + | 70invalidandvoid. | |
| 1407 | + | 71 6.Undersection23.253oftheMissourisunsetact: | |
| 1408 | + | 72 (1)TheprogramauthorizedunderthissectionshallbereauthorizedasofAugust28, | |
| 1409 | + | 732018,andshallexpireonDecember31,2026,unlessreauthorizedbythegeneralassembly; | |
| 1410 | + | 74and | |
| 1411 | + | 75 (2)ThissectionshallterminateonSeptemberfirstofthecalendaryearimmediately | |
| 1412 | + | 76followingthecalendaryearinwhichtheprogramauthorizedunderthissectionissunset;and | |
| 1413 | + | 77 (3)Theprovisionsofthissubsectionshallnotbeconstruedtolimitorinanyway | |
| 1414 | + | 78impairataxpayer'sabilitytoredeemtaxcreditsauthorizedonorbeforethedatetheprogram | |
| 1415 | + | 79authorizedunderthissectionexpires. | |
| 1416 | + | 80 7.Aftertheeffectivedateofthissection,thedepartmentofsocialservicesshall | |
| 1417 | + | 81administerthetaxcreditprovidedunderthissection. | |
| 1152 | 1418 | 135.690.1.Asusedinthissection,thefollowingtermsmean: | |
| 1153 | - | 2 (1)"Community-basedfacultypreceptor",aphysicianorphysicianassistantwhois | |
| 1419 | + | HB2319 39 2 (1)"Community-basedfacultypreceptor",aphysicianorphysicianassistantwhois | |
| 1154 | 1420 | 3licensedinMissouriandprovidespreceptorshipstoMissourimedicalstudentsorphysician | |
| 1155 | 1421 | 4assistantstudentswithoutdirectcompensationfortheworkofprecepting; | |
| 1156 | 1422 | 5 (2)"Department",theMissouridepartmentofhealthandseniorservices; | |
| 1157 | 1423 | 6 (3)"Division",thedivisionofprofessionalregistrationofthedepartmentof | |
| 1158 | 1424 | 7commerceandinsurance; | |
| 1159 | 1425 | 8 (4)"FederallyQualifiedHealthCenter(FQHC)",areimbursementdesignationfrom | |
| 1160 | 1426 | 9theBureauofPrimaryHealthCareandtheCentersforMedicareandMedicaidServicesof | |
| 1161 | 1427 | 10theUnitedStatesDepartmentofHealthandHumanServices; | |
| 1162 | 1428 | 11 (5)"Medicalstudent",anindividualenrolledinaMissourimedicalcollegeapproved | |
| 1163 | 1429 | 12andaccreditedasreputablebytheAmericanMedicalAssociationortheLiaisonCommittee | |
| 1164 | 1430 | 13onMedicalEducationorenrolledinaMissouriosteopathiccollegeapprovedandaccredited | |
| 1165 | 1431 | 14asreputablebytheCommissiononOsteopathicCollegeAccreditation; | |
| 1166 | - | ||
| 1432 | + | 15 (6)"Medicalstudentcorepreceptorship"or"physicianassistantstudentcore | |
| 1167 | 1433 | 16preceptorship",apreceptorshipforamedicalstudentorphysicianassistantstudentthat | |
| 1168 | 1434 | 17providesaminimumofonehundredtwentyhoursofcommunity-basedinstructioninfamily | |
| 1169 | 1435 | 18medicine,internalmedicine,pediatrics,psychiatry,orobstetricsandgynecologyunderthe | |
| 1170 | 1436 | 19guidanceofacommunity-basedfacultypreceptor.Acommunity-basedfacultypreceptor | |
| 1171 | 1437 | 20mayaddtogethertheamountsofpreceptorshipinstructiontimeseparatelyprovidedto | |
| 1172 | 1438 | 21multiplestudentsindeterminingwhetherheorshehasreachedtheminimumhoursrequired | |
| 1173 | 1439 | 22underthissubdivision,butthetotalpreceptorshipinstructiontimeprovidedshallequalat | |
| 1174 | 1440 | 23leastonehundredtwentyhoursinorderforsuchpreceptortobeeligibleforthetaxcredit | |
| 1175 | 1441 | 24authorizedunderthissection; | |
| 1176 | 1442 | 25 (7)"Physicianassistantstudent",anindividualparticipatinginaMissouriphysician | |
| 1177 | 1443 | 26assistantprogramaccreditedbytheAccreditationReviewCommissiononEducationforthe | |
| 1178 | 1444 | 27PhysicianAssistantoritssuccessororganization; | |
| 1179 | 1445 | 28 (8)"Taxpayer",anyindividual,firm,partnerinafirm,corporation,orshareholderin | |
| 1180 | 1446 | 29anScorporationdoingbusinessinthisstateandsubjecttothestateincometaximposed | |
| 1181 | 1447 | 30underchapter143,excludingwithholdingtaximposedundersections143.191to143.265. | |
| 1182 | 1448 | 31 2.(1)BeginningJanuary1,2023,anycommunity-basedfacultypreceptorwho | |
| 1183 | 1449 | 32servesasthecommunity-basedfacultypreceptorforamedicalstudentcorepreceptorshipora | |
| 1184 | 1450 | 33physicianassistantstudentcorepreceptorshipshallbeallowedacreditagainstthetax | |
| 1185 | 1451 | 34otherwisedueunderchapter143,excludingwithholdingtaximposedundersections143.191 | |
| 1186 | 1452 | 35to143.265,inanamountequaltoonethousanddollarsforeachpreceptorship,uptoa | |
| 1187 | 1453 | 36maximumofthreethousanddollarspertaxyear,ifheorshecompletesuptothree | |
| 1188 | 1454 | 37preceptorshiprotationsduringthetaxyearanddidnotreceiveanydirectcompensationfor | |
| 1189 | 1455 | 38thepreceptorships. | |
| 1190 | - | 39 (2)Toreceivethecreditallowedbythissection,acommunity-basedfacultypreceptor | |
| 1456 | + | HB2319 40 39 (2)Toreceivethecreditallowedbythissection,acommunity-basedfacultypreceptor | |
| 1191 | 1457 | 40shallclaimsuchcreditonhisorherreturnforthetaxyearinwhichheorshecompletesthe | |
| 1192 | 1458 | 41preceptorshiprotationsandshallsubmitsupportingdocumentationasprescribedbythe | |
| 1193 | 1459 | 42divisionandthedepartment. | |
| 1194 | 1460 | 43 (3)Innoeventshallthetotalamountofataxcreditauthorizedunderthissection | |
| 1195 | 1461 | 44exceedataxpayer'sincometaxliabilityforthetaxyearforwhichsuchcreditisclaimed.No | |
| 1196 | 1462 | 45taxcreditauthorizedunderthissectionshallbeallowedataxpayeragainsthisorhertax | |
| 1197 | 1463 | 46liabilityforanypriororsucceedingtaxyear. | |
| 1198 | 1464 | 47 (4)Nomorethantwohundredpreceptorshiptaxcreditsshallbeauthorizedunderthis | |
| 1199 | 1465 | 48sectionforanyonecalendaryear.Thetaxcreditsshallbeawardedonafirst-come,first- | |
| 1200 | 1466 | 49servedbasis.Thedivisionandthedepartmentshalljointlypromulgaterulesfordetermining | |
| 1201 | 1467 | 50themannerinwhichtaxpayerswhohaveobtainedcertificationunderthissectionareableto | |
| 1202 | - | ||
| 1468 | + | 51claimthetaxcredit.Thecumulativeamountoftaxcreditsawardedunderthissectionshall | |
| 1203 | 1469 | 52notexceedtwohundredthousanddollarsperyear. | |
| 1204 | 1470 | 53 (5)Notwithstandingtheprovisionsofsubdivision(4)ofthissubsection,the | |
| 1205 | 1471 | 54departmentisauthorizedtoexceedthetwohundredthousanddollarsperyeartaxcredit | |
| 1206 | 1472 | 55programcapinanyamountnottoexceedtheamountoffundsremaininginthemedical | |
| 1207 | 1473 | 56preceptorfund,asestablishedundersubsection3ofthissection,asoftheendofthemost | |
| 1208 | 1474 | 57recenttaxyear,afteranyrequiredtransferstothegeneralrevenuefundhavetakenplacein | |
| 1209 | 1475 | 58accordancewiththeprovisionsofsubsection3ofthissection. | |
| 1210 | 1476 | 59 3.(1)Fundingforthetaxcreditprogramauthorizedunderthissectionshallbe | |
| 1211 | 1477 | 60generatedbythedivisionfromalicensefeeincreaseofsevendollarsperlicensefor | |
| 1212 | 1478 | 61physiciansandsurgeonsandfromalicensefeeincreaseofthreedollarsperlicensefor | |
| 1213 | 1479 | 62physicianassistants.ThelicensefeeincreasesshalltakeeffectbeginningJanuary1,2023, | |
| 1214 | 1480 | 63basedontheunderlyinglicensefeeratesprevailingonthatdate.Theunderlyinglicensefee | |
| 1215 | 1481 | 64ratesshallbedeterminedundersection334.090andallotherapplicableprovisionsofchapter | |
| 1216 | 1482 | 65334. | |
| 1217 | 1483 | 66 (2)(a)Thereisherebycreatedinthestatetreasurythe"MedicalPreceptorFund", | |
| 1218 | 1484 | 67whichshallconsistofmoneyscollectedunderthissubsection.Thestatetreasurershallbe | |
| 1219 | 1485 | 68custodianofthefund.Inaccordancewithsections30.170and30.180,thestatetreasurermay | |
| 1220 | 1486 | 69approvedisbursements.Thefundshallbeadedicatedfundand,uponappropriation,moneys | |
| 1221 | 1487 | 70inthefundshallbeusedsolelybythedepartmentandthedivisionfortheadministrationof | |
| 1222 | 1488 | 71thetaxcreditprogramauthorizedunderthissection.Notwithstandingtheprovisionsof | |
| 1223 | 1489 | 72section33.080tothecontrary,anymoneysremaininginthefundattheendofthebiennium | |
| 1224 | 1490 | 73shallnotreverttothecreditofthegeneralrevenuefund.Thestatetreasurershallinvest | |
| 1225 | 1491 | 74moneysinthemedicalpreceptorfundinthesamemannerasotherfundsareinvested.Any | |
| 1226 | 1492 | 75interestandmoneysearnedonsuchinvestmentsshallbecreditedtothefund. | |
| 1227 | - | 76 (b)Notwithstandinganyprovisionofthischapteroranyotherprovisionoflawtothe | |
| 1493 | + | HB2319 41 76 (b)Notwithstandinganyprovisionofthischapteroranyotherprovisionoflawtothe | |
| 1228 | 1494 | 77contrary,allrevenuefromthelicensefeeincreasesdescribedundersubdivision(1)ofthis | |
| 1229 | 1495 | 78subsectionshallbedepositedinthemedicalpreceptorfund.Aftertheendofeverytaxyear, | |
| 1230 | 1496 | 79anamountequaltothetotaldollaramountofalltaxcreditsclaimedunderthissectionshallbe | |
| 1231 | 1497 | 80transferredfromthemedicalpreceptorfundtothestate'sgeneralrevenuefundestablished | |
| 1232 | 1498 | 81undersection33.543.Anyexcessmoneysinthemedicalpreceptorfundshallremaininthe | |
| 1233 | 1499 | 82fundandshallnotbetransferredtothegeneralrevenuefund. | |
| 1234 | 1500 | 83 4.(1)Thedepartmentshalladministerthetaxcreditprogramauthorizedunderthis | |
| 1235 | 1501 | 84section.Eachtaxpayerclaimingataxcreditunderthissectionshallfileanapplicationwith | |
| 1236 | 1502 | 85thedepartmentverifyingthenumberofhoursofinstructionandtheamountofthetaxcredit | |
| 1237 | 1503 | 86claimed.Thehoursclaimedontheapplicationshallbeverifiedbythecollegeoruniversity | |
| 1238 | 1504 | 87departmentheadortheprogramdirectorontheapplication.Thecertificationbythe | |
| 1239 | - | ||
| 1505 | + | 88departmentaffirmingthetaxpayer'seligibilityforthetaxcreditprovidedtothetaxpayershall | |
| 1240 | 1506 | 89befiledwiththetaxpayer'sincometaxreturn. | |
| 1241 | 1507 | 90 (2)Noamountofanytaxcreditallowedunderthissectionshallberefundable.No | |
| 1242 | 1508 | 91taxcreditallowedunderthissectionshallbetransferred,sold,orassigned.Notaxpayershall | |
| 1243 | 1509 | 92beeligibletoreceivethetaxcreditauthorizedunderthissectionifsuchtaxpayeremploys | |
| 1244 | 1510 | 93personswhoarenotauthorizedtoworkintheUnitedStatesunderfederallaw. | |
| 1245 | 1511 | 94 5.Thedepartmentofcommerceandinsuranceandthedepartmentofhealthand | |
| 1246 | 1512 | 95seniorservicesshalljointlypromulgaterulestoimplementtheprovisionsofthissection.Any | |
| 1247 | 1513 | 96ruleorportionofarule,asthattermisdefinedinsection536.010,thatiscreatedunderthe | |
| 1248 | 1514 | 97authoritydelegatedinthissectionshallbecomeeffectiveonlyifitcomplieswithandis | |
| 1249 | 1515 | 98subjecttoalloftheprovisionsofchapter536and,ifapplicable,section536.028.Thissection | |
| 1250 | 1516 | 99andchapter536arenonseverableandifanyofthepowersvestedwiththegeneralassembly | |
| 1251 | 1517 | 100pursuanttochapter536toreview,todelaytheeffectivedate,ortodisapproveandannula | |
| 1252 | 1518 | 101rulearesubsequentlyheldunconstitutional,thenthegrantofrulemakingauthorityandany | |
| 1253 | 1519 | 102ruleproposedoradoptedafterAugust28,2022,shallbeinvalidandvoid. | |
| 1254 | 1520 | 103 6.Undersection23.253oftheMissourisunsetact: | |
| 1255 | 1521 | 104 (1)Theprovisionsoftheprogramauthorizedunderthissectionshall | |
| 1256 | - | ||
| 1257 | - | ||
| 1522 | + | 105automaticallysunsetonDecember31,2030,unlessreauthorizedbyanactofthe | |
| 1523 | + | 106generalassembly; | |
| 1258 | 1524 | 107 (2)Ifsuchprogramisreauthorized,theprogramauthorizedunderthissection | |
| 1259 | - | ||
| 1260 | - | ||
| 1525 | + | 108shallautomaticallysunsetonDecemberthirty-first,sixyearsaftertheeffectivedateof | |
| 1526 | + | 109thereauthorizationofthissection; | |
| 1261 | 1527 | 110 (3)ThissectionshallterminateonSeptemberfirstofthecalendaryear | |
| 1262 | 1528 | 111immediatelyfollowingthecalendaryearinwhichtheprogramauthorizedunderthis | |
| 1263 | 1529 | 112sectionissunset;and | |
| 1264 | - | 113 (4)Theprovisionsofthissubsectionshallnotbeconstruedtolimitorinanyway | |
| 1530 | + | HB2319 42 113 (4)Theprovisionsofthissubsectionshallnotbeconstruedtolimitorinanyway | |
| 1265 | 1531 | 114impairataxpayer'sabilitytoredeemtaxcreditsauthorizedonorbeforethedatethe | |
| 1266 | 1532 | 115programauthorizedunderthissectionexpires. | |
| 1267 | - | 135.719.1.Thestatetreasurerandthedepartmentofrevenuemaypromulgaterules | |
| 1533 | + | 135.700.1.ForalltaxyearsbeginningonorafterJanuary1,1999,agrapegroweror | |
| 1534 | + | 2wineproducershallbeallowedataxcreditagainstthestatetaxliabilityincurredpursuantto | |
| 1535 | + | 3chapter143,exclusiveoftheprovisionsrelatingtothewithholdingoftaxasprovidedin | |
| 1536 | + | 4sections143.191to143.265,inanamountequaltotwenty-fivepercentofthepurchaseprice | |
| 1537 | + | 5ofallnewequipmentandmaterialsuseddirectlyinthegrowingofgrapesortheproductionof | |
| 1538 | + | 6wineinthestate.Eachgrowerorproducershallapplytothedepartmentofeconomic | |
| 1539 | + | 7developmentandspecifythetotalamountofsuchnewequipmentandmaterialspurchased | |
| 1540 | + | 8duringthecalendaryear.Thedepartmentofeconomicdevelopmentshallcertifytothe | |
| 1541 | + | 9departmentofrevenuetheamountofsuchtaxcredittowhichagrapegrowerorwine | |
| 1542 | + | 10producerisentitledpursuanttothissection.Theprovisionsofthissectionnotwithstanding,a | |
| 1543 | + | 11growerorproducermayonlyapplyforandreceivethecreditauthorizedbythissectionfor | |
| 1544 | + | 12fivetaxperiods. | |
| 1545 | + | 13 2.(1)ForalltaxyearsbeginningonorafterJanuary1,2025,thecumulative | |
| 1546 | + | 14amountoftaxcreditsallowedtoalltaxpayersunderthissectionshallnotexceedthe | |
| 1547 | + | 15totalcapamountwhichshallbeanamountequaltotwentypercentgreaterthanthe | |
| 1548 | + | 16highestannualamountoftaxcreditsredeemedinanyonepreviousfiscalyear,from | |
| 1549 | + | 17fiscalyear2018tofiscalyear2024,asdeterminedandcalculatedbythedepartment. | |
| 1550 | + | 18 (2)Iftheamountoftaxcreditsclaimedinataxyearunderthissectionexceeds | |
| 1551 | + | 19thetotalcapdeterminedundersubdivision(2)ofthissubsection,taxcreditsshallbe | |
| 1552 | + | 20allowedbasedontheorderinwhichtheyareclaimed. | |
| 1553 | + | 21 3.Undersection23.253oftheMissourisunsetact: | |
| 1554 | + | 22 (1)Theprovisionsoftheprogramauthorizedunderthissectionshall | |
| 1555 | + | 23automaticallysunsetonDecember31,2030,unlessreauthorizedbyanactofthe | |
| 1556 | + | 24generalassembly; | |
| 1557 | + | 25 (2)Ifsuchprogramisreauthorized,theprogramauthorizedunderthissection | |
| 1558 | + | 26shallautomaticallysunsetonDecemberthirty-first,sixyearsaftertheeffectivedateof | |
| 1559 | + | 27thereauthorizationofthissection; | |
| 1560 | + | 28 (3)ThissectionshallterminateonSeptemberfirstofthecalendaryear | |
| 1561 | + | 29immediatelyfollowingthecalendaryearinwhichtheprogramauthorizedunderthis | |
| 1562 | + | 30sectionissunset;and | |
| 1563 | + | 31 (4)Theprovisionsofthissubsectionshallnotbeconstruedtolimitorinanyway | |
| 1564 | + | 32impairataxpayer'sabilitytoredeemtaxcreditsauthorizedonorbeforethedatethe | |
| 1565 | + | 33programauthorizedunderthissectionexpires. | |
| 1566 | + | HB2319 43 135.719.1.Thestatetreasurerandthedepartmentofrevenuemaypromulgaterules | |
| 1268 | 1567 | 2toimplementtheprovisionsofsections135.712to135.719.Anyruleorportionofarule,as | |
| 1269 | 1568 | 3thattermisdefinedinsection536.010,thatiscreatedundertheauthoritydelegatedinthis | |
| 1270 | 1569 | 4sectionshallbecomeeffectiveonlyifitcomplieswithandissubjecttoalloftheprovisionsof | |
| 1271 | 1570 | 5chapter536and,ifapplicable,section536.028.Thissectionandchapter536are | |
| 1272 | 1571 | 6nonseverableandifanyofthepowersvestedwiththegeneralassemblypursuanttochapter | |
| 1273 | 1572 | 7536toreview,todelaytheeffectivedate,ortodisapproveandannularulearesubsequently | |
| 1274 | 1573 | 8heldunconstitutional,thenthegrantofrulemakingauthorityandanyruleproposedor | |
| 1275 | 1574 | 9adoptedafterAugust28,2021,shallbeinvalidandvoid. | |
| 1276 | - | ||
| 1575 | + | 10 2.[Theprovisionsof]Undersection23.253oftheMissourisunsetact[shallnot | |
| 1277 | 1576 | 11applyto]: | |
| 1278 | 1577 | 12 (1)Theprovisionsoftheprogramauthorizedundersections135.712to135.719 | |
| 1279 | - | ||
| 1578 | + | 13shallautomaticallysunsetonDecember31,2030,unlessreauthorizedbyanactofthe | |
| 1280 | 1579 | 14generalassembly; | |
| 1281 | 1580 | 15 (2)Ifsuchprogramisreauthorized,theprogramauthorizedundersections | |
| 1282 | - | 16135.712to135. | |
| 1283 | - | ||
| 1581 | + | 16135.712to135.719shallautomaticallysunsetonDecemberthirty-first,sixyearsafter | |
| 1582 | + | 17theeffectivedateofthereauthorizationofsections135.712to135.719; | |
| 1284 | 1583 | 18 (3)ThissectionshallterminateonSeptemberfirstofthecalendaryear | |
| 1285 | 1584 | 19immediatelyfollowingthecalendaryearinwhichtheprogramauthorizedunder | |
| 1286 | 1585 | 20sections135.712to135.719issunset;and | |
| 1287 | 1586 | 21 (4)Theprovisionsofthissubsectionshallnotbeconstruedtolimitorinanyway | |
| 1288 | 1587 | 22impairataxpayer'sabilitytoredeemtaxcreditsauthorizedonorbeforethedatethe | |
| 1289 | 1588 | 23programauthorizedunderthissectionexpires. | |
| 1290 | 1589 | 135.772.1.Forthepurposesofthissection,thefollowingtermsshallmean: | |
| 1291 | 1590 | 2 (1)"Department",theMissouridepartmentof[revenue] agriculture; | |
| 1292 | 1591 | 3 (2)"Distributor",aperson,firm,orcorporationdoingbusinessinthisstatethat: | |
| 1293 | 1592 | 4 (a)Produces,refines,blends,compounds,ormanufacturesmotorfuel; | |
| 1294 | 1593 | 5 (b)Importsmotorfuelintothestate;or | |
| 1295 | 1594 | 6 (c)Isengagedindistributionofmotorfuel; | |
| 1296 | 1595 | 7 (3)"Higherethanolblend",afuelcapableofbeingdispenseddirectlyintomotor | |
| 1297 | 1596 | 8vehiclefueltanksforconsumptionthatiscomprisedofatleastfifteenpercentbutnotmore | |
| 1298 | 1597 | 9thaneighty-fivepercentethanol; | |
| 1299 | 1598 | 10 (4)"Retaildealer",aperson,firm,orcorporationdoingbusinessinthisstatethat | |
| 1300 | 1599 | 11ownsoroperatesaretailservicestationinthisstate; | |
| 1301 | 1600 | 12 (5)"Retailservicestation",alocationinthisstatefromwhichhigherethanolblendis | |
| 1302 | 1601 | 13soldtothegeneralpublicandisdispenseddirectlyintomotorvehiclefueltanksfor | |
| 1303 | 1602 | 14consumption. | |
| 1304 | - | 15 2.ForalltaxyearsbeginningonorafterJanuary1,2023,aretaildealerthatsells | |
| 1603 | + | HB2319 44 15 2.ForalltaxyearsbeginningonorafterJanuary1,2023,aretaildealerthatsells | |
| 1305 | 1604 | 16higherethanolblendatsuchretaildealer'sretailservicestationoradistributorthatsells | |
| 1306 | 1605 | 17higherethanolblenddirectlytothefinaluserlocatedinthisstateshallbeallowedataxcredit | |
| 1307 | 1606 | 18tobetakenagainsttheretaildealer'sordistributor'sstateincometaxliability.Theamountof | |
| 1308 | 1607 | 19thecreditshallequalfivecentspergallonofhigherethanolblendsoldbytheretaildealerand | |
| 1309 | 1608 | 20dispensedthroughmeteredpumpsattheretaildealer'sretailservicestationorbyadistributor | |
| 1310 | 1609 | 21directlytothefinaluserlocatedinthisstateduringthetaxyearforwhichthetaxcreditis | |
| 1311 | 1610 | 22claimed.ForanyretaildealerordistributorwithataxyearbeginningpriortoJanuary1, | |
| 1312 | 1611 | 232023,butendingduringthe2023calendaryear,suchretaildealerordistributorshallbe | |
| 1313 | - | ||
| 1612 | + | 24allowedataxcreditfortheamountofhigherethanolblendsoldduringtheportionofsuchtax | |
| 1314 | 1613 | 25yearthatoccursduringthe2023calendaryear.Taxcreditsauthorizedpursuanttothissection | |
| 1315 | 1614 | 26shallnotbetransferred,sold,orassigned.Iftheamountofthetaxcreditexceedsthe | |
| 1316 | 1615 | 27taxpayer'sstatetaxliability,thedifferenceshallnotberefundablebutmaybecarriedforward | |
| 1317 | 1616 | 28toanyofthefivesubsequenttaxyears.Thetotalamountoftaxcreditsissuedpursuanttothis | |
| 1318 | 1617 | 29sectionforanygivenfiscalyearshallnotexceedfivemilliondollars. | |
| 1319 | 1618 | 30 3.Intheeventthetotalamountoftaxcreditsclaimedunderthissectionexceedsthe | |
| 1320 | 1619 | 31amountofavailabletaxcredits,thetaxcreditsshallbeapportionedamongalleligibleretail | |
| 1321 | 1620 | 32dealersanddistributorsclaimingataxcreditbyAprilfifteenth,orasdirectedbysection | |
| 1322 | 1621 | 33143.851,ofthefiscalyearinwhichthetaxcreditisclaimed. | |
| 1323 | 1622 | 34 4.Thedepartmentshallprescribethemethodforsubmittingapplicationsfor | |
| 1324 | 1623 | 35claimingthetaxcreditallowedbythissection[shallbeclaimedbysuchtaxpayeratthetime | |
| 1325 | - | 36suchtaxpayerfilesareturnand]. Afterissuanceofataxcreditcertificatebythe | |
| 1326 | - | 37department,suchtaxcreditshallberedeemedbyfilingacopyofthetaxcredit | |
| 1327 | - | 38certificatewiththetaxpayer'sincometaxreturnforthetaxyearforwhichsuchcredit | |
| 1328 | - | 39wasissued.Suchtaxcreditshallbeappliedagainsttheincometaxliabilityimposedby | |
| 1329 | - | 40chapter143,excludingthewithholdingtaximposedbysections143.191to143.265,after | |
| 1330 | - | 41reductionforallothercreditsallowedthereon.Thedepartmentmayrequireany | |
| 1331 | - | 42documentationitdeemsnecessarytoimplementtheprovisionsofthissection. | |
| 1332 | - | 43 5.Thedepartmentofagricultureshallpromulgaterulestoimplementtheprovisions | |
| 1333 | - | 44ofthissection.Anyruleorportionofarule,asthattermisdefinedinsection536.010,thatis | |
| 1334 | - | 45createdundertheauthoritydelegatedinthissectionshallbecomeeffectiveonlyifitcomplies | |
| 1335 | - | 46withandissubjecttoalloftheprovisionsofchapter536and,ifapplicable,section536.028. | |
| 1336 | - | 47Thissectionandchapter536arenonseverableandifanyofthepowersvestedwiththe | |
| 1337 | - | 48generalassemblypursuanttochapter536toreview,todelaytheeffectivedate,orto | |
| 1338 | - | 49disapproveandannularulearesubsequentlyheldunconstitutional,thenthegrantof | |
| 1339 | - | 50rulemakingauthorityandanyruleproposedoradoptedafterJanuary2,2023,shallbeinvalid | |
| 1340 | - | 51andvoid. | |
| 1341 | - | 52 6.Undersection23.253oftheMissourisunsetact: | |
| 1342 | - | 53 (1)TheprovisionsofthissectionshallautomaticallysunsetonDecember31,2028, | |
| 1343 | - | 54unlessreauthorizedbyanactofthegeneralassembly;and | |
| 1344 | - | 55 (2)Ifsuchprogramisreauthorized,theprogramauthorizedunderthissectionshall | |
| 1345 | - | 56automaticallysunsettwelveyearsaftertheeffectivedateofthereauthorizationofthissection; | |
| 1346 | - | 57and | |
| 1347 | - | 58 (3)ThissectionshallterminateonSeptemberfirstofthecalendaryearimmediately | |
| 1348 | - | 59followingthecalendaryearinwhichtheprogramauthorizedunderthissectionissunset. | |
| 1349 | - | HCSHB2319 37 60 7.OnandafterAugust28,2024,thedepartmentofagricultureshalladminister | |
| 1350 | - | 61thetaxcreditprovidedunderthissection. | |
| 1624 | + | 36suchtaxpayerfilesareturn] andsuchtaxcreditshallbeappliedagainsttheincometax | |
| 1625 | + | 37liabilityimposedbychapter143,excludingthewithholdingtaximposedbysections143.191 | |
| 1626 | + | 38to143.265,afterreductionforallothercreditsallowedthereon.Thedepartmentmayrequire | |
| 1627 | + | 39anydocumentationitdeemsnecessarytoimplementtheprovisionsofthissection. | |
| 1628 | + | 40 5.Thedepartmentofagricultureshallpromulgaterulestoimplementtheprovisions | |
| 1629 | + | 41ofthissection.Anyruleorportionofarule,asthattermisdefinedinsection536.010,thatis | |
| 1630 | + | 42createdundertheauthoritydelegatedinthissectionshallbecomeeffectiveonlyifitcomplies | |
| 1631 | + | 43withandissubjecttoalloftheprovisionsofchapter536and,ifapplicable,section536.028. | |
| 1632 | + | 44Thissectionandchapter536arenonseverableandifanyofthepowersvestedwiththe | |
| 1633 | + | 45generalassemblypursuanttochapter536toreview,todelaytheeffectivedate,orto | |
| 1634 | + | 46disapproveandannularulearesubsequentlyheldunconstitutional,thenthegrantof | |
| 1635 | + | 47rulemakingauthorityandanyruleproposedoradoptedafterJanuary2,2023,shallbeinvalid | |
| 1636 | + | 48andvoid. | |
| 1637 | + | 49 6.Undersection23.253oftheMissourisunsetact: | |
| 1638 | + | 50 (1)TheprovisionsofthissectionshallautomaticallysunsetonDecember31,2028, | |
| 1639 | + | 51unlessreauthorizedbyanactofthegeneralassembly;and | |
| 1640 | + | HB2319 45 52 (2)Ifsuchprogramisreauthorized,theprogramauthorizedunderthissectionshall | |
| 1641 | + | 53automaticallysunsettwelveyearsaftertheeffectivedateofthereauthorizationofthissection; | |
| 1642 | + | 54and | |
| 1643 | + | 55 (3)ThissectionshallterminateonSeptemberfirstofthecalendaryearimmediately | |
| 1644 | + | 56followingthecalendaryearinwhichtheprogramauthorizedunderthissectionissunset. | |
| 1645 | + | 57 7.Aftertheeffectivedateofthissection,thedepartmentofagricultureshall | |
| 1646 | + | 58administerthetaxcreditprovidedunderthissection. | |
| 1351 | 1647 | 135.775.1.Asusedinthissection,thefollowingtermsmean: | |
| 1352 | 1648 | 2 (1)"Biodieselblend",ablendofdieselfuelandbiodieselfuelofatleastfivepercent | |
| 1353 | 1649 | 3andnotmorethantwentypercentforon-roadandoff-roaddiesel-fueledvehicleuse; | |
| 1354 | 1650 | 4 (2)"Biodieselfuel",arenewable,biodegradable,monoalkylestercombustibleliquid | |
| 1355 | 1651 | 5fuelthatisderivedfromagriculturalandotherplantoilsoranimalfatsandthatmeetsthe | |
| 1356 | 1652 | 6mostrecentversionoftheASTMInternationalD6751StandardSpecificationforBiodiesel | |
| 1357 | 1653 | 7FuelBlendStock.Afuelshallbedeemedtobebiodieselfuelifthefuelconsistsofapure | |
| 1358 | 1654 | 8B100orB99ratio.Biodieselproducedfrompalmoilisnotbiodieselfuelforthepurposesof | |
| 1359 | 1655 | 9thissectionunlessthepalmoiliscontainedwithinwasteoilandgreasecollectedwithinthe | |
| 1360 | 1656 | 10UnitedStates; | |
| 1361 | 1657 | 11 (3)"B99",ablendofninety-ninepercentbiodieselfuelthatmeetsthemostrecent | |
| 1362 | 1658 | 12versionoftheASTMInternationalD6751StandardSpecificationforBiodieselFuelBlend | |
| 1363 | 1659 | 13Stockwithaminimumofone-tenthofonepercentandmaximumofonepercentdieselfuel | |
| 1364 | 1660 | 14thatmeetsthemostrecentversionoftheASTMInternationalD975StandardSpecification | |
| 1365 | 1661 | 15forDieselFuel; | |
| 1366 | 1662 | 16 (4)"Department",theMissouridepartmentof[revenue] agriculture; | |
| 1367 | 1663 | 17 (5)"Distributor",aperson,firm,orcorporationdoingbusinessinthisstatethat: | |
| 1368 | 1664 | 18 (a)Produces,refines,blends,compounds,ormanufacturesmotorfuel; | |
| 1369 | 1665 | 19 (b)Importsmotorfuelintothestate;or | |
| 1370 | 1666 | 20 (c)Isengagedindistributionofmotorfuel; | |
| 1371 | 1667 | 21 (6)"Retaildealer",aperson,firm,orcorporationdoingbusinessinthisstatethat | |
| 1372 | 1668 | 22ownsoroperatesaretailservicestationinthisstate; | |
| 1373 | 1669 | 23 (7)"Retailservicestation",alocationinthisstatefromwhichbiodieselblendissold | |
| 1374 | 1670 | 24tothegeneralpublicandisdispenseddirectlyintomotorvehiclefueltanksforconsumption | |
| 1375 | 1671 | 25atretail. | |
| 1376 | 1672 | 26 2.ForalltaxyearsbeginningonorafterJanuary1,2023,aretaildealerthatsellsa | |
| 1377 | 1673 | 27biodieselblendataretailservicestationoradistributorthatsellsabiodieselblenddirectlyto | |
| 1378 | 1674 | 28thefinaluserlocatedinthisstateshallbeallowedataxcredittobetakenagainsttheretail | |
| 1379 | 1675 | 29dealerordistributor'sstateincometaxliability.Foranyretaildealerordistributorwithatax | |
| 1380 | 1676 | 30yearbeginningpriortoJanuary1,2023,butendingduringthe2023calendaryear,suchretail | |
| 1381 | - | 31dealerordistributorshallbeallowedataxcreditfortheamountofbiodieselblendsoldduring | |
| 1677 | + | HB2319 46 31dealerordistributorshallbeallowedataxcreditfortheamountofbiodieselblendsoldduring | |
| 1382 | 1678 | 32theportionofsuchtaxyearthatoccursduringthe2023calendaryear.Theamountofthe | |
| 1383 | 1679 | 33creditshallbeequalto: | |
| 1384 | - | ||
| 1680 | + | 34 (1)Twocentspergallonofbiodieselblendofatleastfivepercentbutnotmorethan | |
| 1385 | 1681 | 35tenpercentsoldbytheretaildealerataretailservicestationorbyadistributordirectlytothe | |
| 1386 | 1682 | 36finaluserlocatedinthisstateduringthetaxyearforwhichthetaxcreditisclaimed;and | |
| 1387 | 1683 | 37 (2)Fivecentspergallonofbiodieselblendinexcessoftenpercentbutnotmorethan | |
| 1388 | 1684 | 38twentypercentsoldbytheretaildealerataretailservicestationorbyadistributordirectlyto | |
| 1389 | 1685 | 39thefinaluserlocatedinthisstateduringthetaxyearforwhichthetaxcreditisclaimed. | |
| 1390 | 1686 | 40 3.Taxcreditsauthorizedunderthissectionshallnotbetransferred,sold,orassigned. | |
| 1391 | 1687 | 41Iftheamountofthetaxcreditexceedsthetaxpayer'sstatetaxliability,thedifferenceshallbe | |
| 1392 | 1688 | 42refundable.Thetotalamountoftaxcreditsissuedunderthissectionforanygivenfiscalyear | |
| 1393 | 1689 | 43shallnotexceedsixteenmilliondollars. | |
| 1394 | 1690 | 44 4.Intheeventthetotalamountoftaxcreditsclaimedunderthissectionexceedsthe | |
| 1395 | 1691 | 45amountofavailabletaxcredits,thetaxcreditsshallbeapportionedamongalleligibleretail | |
| 1396 | 1692 | 46dealersanddistributorsclaimingataxcreditbyAprilfifteenth,orasdirectedbysection | |
| 1397 | 1693 | 47143.851,ofthefiscalyearinwhichthetaxcreditisclaimed. | |
| 1398 | 1694 | 48 5.Thedepartmentshallprescribethemethodforsubmittingapplicationsfor | |
| 1399 | 1695 | 49claimingthetaxcreditallowedbythissection[shallbeclaimedbysuchtaxpayeratthetime | |
| 1400 | 1696 | 50suchtaxpayerfilesareturn] andsuchtaxcreditshallbeappliedagainsttheincometax | |
| 1401 | 1697 | 51liabilityimposedbychapter143,excludingthewithholdingtaximposedbysections143.191 | |
| 1402 | 1698 | 52to143.265,afterreductionforallothercreditsallowedthereon.Thedepartmentmayrequire | |
| 1403 | - | 53anydocumentationitdeemsnecessarytoadministertheprovisionsofthissection.Thetax | |
| 1404 | - | 54creditallowedbythissection,afterissuancebythedepartment,shallberedeemedon | |
| 1405 | - | 55thetaxpayer'sincometaxreturnforthetaxyearforwhichsuchcreditwasissued. | |
| 1406 | - | 56 6.Notwithstandingtheprovisionsofsection32.057tothecontrary,thedepartment | |
| 1407 | - | 57mayworkwiththedivisionofweightsandmeasureswithinthedepartmentofagricultureto | |
| 1408 | - | 58validatethatthebiodieselblendaretaildealerordistributorclaimsforthetaxcredit | |
| 1409 | - | 59authorizedunderthissectioncontainsasufficientpercentageofbiodieselfuel. | |
| 1410 | - | 60 7.Thedepartmentofagricultureshallpromulgaterulestoimplementandadminister | |
| 1411 | - | 61theprovisionsofthissection.Anyruleorportionofarule,asthattermisdefinedinsection | |
| 1412 | - | 62536.010,thatiscreatedpursuanttotheauthoritydelegatedinthissectionshallbecome | |
| 1413 | - | 63effectiveonlyifitcomplieswithandissubjecttoalloftheprovisionsofchapter536and,if | |
| 1414 | - | 64applicable,section536.028.Thissectionandchapter536arenonseverableandifanyofthe | |
| 1415 | - | 65powersvestedwiththegeneralassemblypursuanttochapter536toreview,todelaythe | |
| 1416 | - | 66effectivedate,ortodisapproveandannularulearesubsequentlyheldunconstitutional,then | |
| 1417 | - | 67thegrantofrulemakingauthorityandanyruleproposedoradoptedafterJanuary2,2023, | |
| 1418 | - | 68shallbeinvalidandvoid. | |
| 1419 | - | 69 8.Undersection23.253oftheMissourisunsetact: | |
| 1420 | - | HCSHB2319 39 70 (1)Theprovisionsofthenewprogramauthorizedunderthissectionshall | |
| 1421 | - | 71automaticallysunsetonDecember31,2028,unlessreauthorizedbyanactofthegeneral | |
| 1422 | - | 72assembly; | |
| 1423 | - | 73 (2)Ifsuchprogramisreauthorized,theprogramauthorizedunderthissectionshall | |
| 1424 | - | 74automaticallysunsettwelveyearsaftertheeffectivedateofthereauthorizationofthissection; | |
| 1425 | - | 75and | |
| 1426 | - | 76 (3)ThissectionshallterminateonSeptemberfirstofthecalendaryearimmediately | |
| 1427 | - | 77followingthecalendaryearinwhichtheprogramauthorizedunderthissectionissunset.The | |
| 1428 | - | 78terminationoftheprogramasdescribedinthissubsectionshallnotbeconstruedtopreclude | |
| 1429 | - | 79anyqualifiedtaxpayerwhoclaimsanybenefitunderanyprogramthatissunsetunderthis | |
| 1430 | - | 80subsectionfromclaimingsuchbenefitforallallowableactivitiesrelatedtosuchclaimthat | |
| 1431 | - | 81werecompletedbeforetheprogramwassunsetortoeliminateanyresponsibilityofthe | |
| 1432 | - | 82departmenttoverifythecontinuedeligibilityofqualifiedindividualsreceivingtaxcreditsand | |
| 1433 | - | 83toenforceotherrequirementsoflawthatappliedbeforetheprogramwassunset. | |
| 1434 | - | 84 9.OnandafterAugust28,2024,thedepartmentofagricultureshalladminister | |
| 1435 | - | 85thetaxcreditprovidedunderthissection. | |
| 1699 | + | 53anydocumentationitdeemsnecessarytoadministertheprovisionsofthissection. | |
| 1700 | + | 54 6.Notwithstandingtheprovisionsofsection32.057tothecontrary,thedepartment | |
| 1701 | + | 55mayworkwiththedivisionofweightsandmeasureswithinthedepartmentofagricultureto | |
| 1702 | + | 56validatethatthebiodieselblendaretaildealerordistributorclaimsforthetaxcredit | |
| 1703 | + | 57authorizedunderthissectioncontainsasufficientpercentageofbiodieselfuel. | |
| 1704 | + | 58 7.Thedepartmentofagricultureshallpromulgaterulestoimplementandadminister | |
| 1705 | + | 59theprovisionsofthissection.Anyruleorportionofarule,asthattermisdefinedinsection | |
| 1706 | + | 60536.010,thatiscreatedpursuanttotheauthoritydelegatedinthissectionshallbecome | |
| 1707 | + | 61effectiveonlyifitcomplieswithandissubjecttoalloftheprovisionsofchapter536and,if | |
| 1708 | + | 62applicable,section536.028.Thissectionandchapter536arenonseverableandifanyofthe | |
| 1709 | + | 63powersvestedwiththegeneralassemblypursuanttochapter536toreview,todelaythe | |
| 1710 | + | 64effectivedate,ortodisapproveandannularulearesubsequentlyheldunconstitutional,then | |
| 1711 | + | 65thegrantofrulemakingauthorityandanyruleproposedoradoptedafterJanuary2,2023, | |
| 1712 | + | 66shallbeinvalidandvoid. | |
| 1713 | + | 67 8.Undersection23.253oftheMissourisunsetact: | |
| 1714 | + | HB2319 47 68 (1)Theprovisionsofthenewprogramauthorizedunderthissectionshall | |
| 1715 | + | 69automaticallysunsetonDecember31,2028,unlessreauthorizedbyanactofthegeneral | |
| 1716 | + | 70assembly; | |
| 1717 | + | 71 (2)Ifsuchprogramisreauthorized,theprogramauthorizedunderthissectionshall | |
| 1718 | + | 72automaticallysunsettwelveyearsaftertheeffectivedateofthereauthorizationofthissection; | |
| 1719 | + | 73and | |
| 1720 | + | 74 (3)ThissectionshallterminateonSeptemberfirstofthecalendaryearimmediately | |
| 1721 | + | 75followingthecalendaryearinwhichtheprogramauthorizedunderthissectionissunset.The | |
| 1722 | + | 76terminationoftheprogramasdescribedinthissubsectionshallnotbeconstruedtopreclude | |
| 1723 | + | 77anyqualifiedtaxpayerwhoclaimsanybenefitunderanyprogramthatissunsetunderthis | |
| 1724 | + | 78subsectionfromclaimingsuchbenefitforallallowableactivitiesrelatedtosuchclaimthat | |
| 1725 | + | 79werecompletedbeforetheprogramwassunsetortoeliminateanyresponsibilityofthe | |
| 1726 | + | 80departmenttoverifythecontinuedeligibilityofqualifiedindividualsreceivingtaxcreditsand | |
| 1727 | + | 81toenforceotherrequirementsoflawthatappliedbeforetheprogramwassunset. | |
| 1728 | + | 82 9.Aftertheeffectivedateofthissection,thedepartmentofagricultureshall | |
| 1729 | + | 83administerthetaxcreditprovidedunderthissection. | |
| 1436 | 1730 | 135.778.1.Forthepurposesofthissection,thefollowingtermsshallmean: | |
| 1437 | 1731 | 2 (1)"Biodieselfuel",arenewable,biodegradable,monoalkylestercombustibleliquid | |
| 1438 | 1732 | 3fuelthatisderivedfromagriculturalandotherplantoilsoranimalfatsandthatmeetsthe | |
| 1439 | 1733 | 4mostrecentversionoftheASTMInternationalD6751StandardSpecificationforBiodiesel | |
| 1440 | 1734 | 5FuelBlendStock.Afuelshallbedeemedtobebiodieselfuelifthefuelconsistsofapure | |
| 1441 | 1735 | 6B100orB99ratio.Biodieselproducedfrompalmoilisnotbiodieselfuelforthepurposesof | |
| 1442 | 1736 | 7thissectionunlessthepalmoiliscontainedwithinwasteoilandgreasecollectedwithinthe | |
| 1443 | 1737 | 8UnitedStates; | |
| 1444 | 1738 | 9 (2)"B99",ablendofninety-ninepercentbiodieselfuelthatmeetsthemostrecent | |
| 1445 | 1739 | 10versionoftheASTMInternationalD6751StandardSpecificationforBiodieselFuelBlend | |
| 1446 | 1740 | 11Stockwithaminimumofone-tenthofonepercentandmaximumofonepercentdieselfuel | |
| 1447 | 1741 | 12thatmeetsthemostrecentversionoftheASTMInternationalD975StandardSpecification | |
| 1448 | 1742 | 13forDieselFuel; | |
| 1449 | 1743 | 14 (3)"Department",theMissouridepartmentof[revenue] agriculture; | |
| 1450 | 1744 | 15 (4)"Missouribiodieselproducer",aperson,firm,orcorporationdoingbusinessin | |
| 1451 | 1745 | 16thisstatethatproducesbiodieselfuelinthisstate,isregisteredwiththeUnitedStates | |
| 1452 | 1746 | 17EnvironmentalProtectionAgencyaccordingtotherequirementsof40CFRPart79,andhas | |
| 1453 | 1747 | 18begunconstructiononsuchfacilityorhasbeensellingbiodieselfuelproducedatsuchfacility | |
| 1454 | 1748 | 19onorbeforeJanuary2,2023. | |
| 1455 | 1749 | 20 2.ForalltaxyearsbeginningonorafterJanuary1,2023,aMissouribiodiesel | |
| 1456 | 1750 | 21producershallbeallowedataxcredittobetakenagainsttheproducer'sstateincometax | |
| 1457 | - | ||
| 1751 | + | HB2319 48 22liability.ForanyMissouribiodieselproducerwithataxyearbeginningpriortoJanuary1, | |
| 1458 | 1752 | 232023,butendingduringthe2023calendaryear,suchMissouribiodieselproducershallbe | |
| 1459 | 1753 | 24allowedataxcreditfortheamountofbiodieselfuelproducedduringtheportionofsuchtax | |
| 1460 | 1754 | 25yearthatoccursduringthe2023calendaryear.Theamountofthetaxcreditshallbetwo | |
| 1461 | 1755 | 26centspergallonofbiodieselfuelproducedbytheMissouribiodieselproducerduringthetax | |
| 1462 | 1756 | 27yearforwhichthetaxcreditisclaimed. | |
| 1463 | 1757 | 28 3.Taxcreditsauthorizedunderthissectionshallnotbetransferred,sold,orassigned. | |
| 1464 | 1758 | 29Iftheamountofthetaxcreditexceedsthetaxpayer'sstatetaxliability,thedifferenceshallbe | |
| 1465 | 1759 | 30refundable.Thetotalamountoftaxcreditsissuedunderthissectionforanygivenfiscalyear | |
| 1466 | 1760 | 31shallnotexceedfivemillionfivehundredthousanddollars,whichshallbeauthorizedona | |
| 1467 | 1761 | 32first-come,first-servedbasis. | |
| 1468 | 1762 | 33 4.Thedepartmentshallprescribethemethodforsubmittingapplicationsfor | |
| 1469 | 1763 | 34claimingthetaxcreditauthorizedunderthissection[shallbeclaimedbysuchtaxpayeratthe | |
| 1470 | 1764 | 35timesuchtaxpayerfilesareturn] andsuchtaxcreditshallbeappliedagainsttheincometax | |
| 1471 | 1765 | 36liabilityimposedbychapter143,excludingthewithholdingtaximposedbysections143.191 | |
| 1472 | 1766 | 37to143.265,afterreductionforallothercreditsallowedthereon.Thedepartmentmayrequire | |
| 1473 | - | 38anydocumentationitdeemsnecessarytoadministertheprovisionsofthissection.Thetax | |
| 1474 | - | 39creditallowedbythissection,afterissuancebythedepartment,shallberedeemedon | |
| 1475 | - | 40thetaxpayer'sincometaxreturnforthetaxyearforwhichsuchcreditwasissued. | |
| 1476 | - | 41 5.Thedepartmentofagricultureshallpromulgaterulestoimplementandadminister | |
| 1477 | - | 42theprovisionsofthissection.Anyruleorportionofarule,asthattermisdefinedinsection | |
| 1478 | - | 43536.010,thatiscreatedpursuanttotheauthoritydelegatedinthissectionshallbecome | |
| 1479 | - | 44effectiveonlyifitcomplieswithandissubjecttoalloftheprovisionsofchapter536and,if | |
| 1480 | - | 45applicable,section536.028.Thissectionandchapter536arenonseverableandifanyofthe | |
| 1481 | - | 46powersvestedwiththegeneralassemblypursuanttochapter536toreview,todelaythe | |
| 1482 | - | 47effectivedate,ortodisapproveandannularulearesubsequentlyheldunconstitutional,then | |
| 1483 | - | 48thegrantofrulemakingauthorityandanyruleproposedoradoptedafterJanuary2,2023, | |
| 1484 | - | 49shallbeinvalidandvoid. | |
| 1485 | - | 50 6.Undersection23.253oftheMissourisunsetact: | |
| 1486 | - | 51 (1)Theprovisionsofthenewprogramauthorizedunderthissectionshall | |
| 1487 | - | 52automaticallysunsetonDecember31,2028,unlessreauthorizedbyanactofthegeneral | |
| 1488 | - | 53assembly; | |
| 1489 | - | 54 (2)Ifsuchprogramisreauthorized,theprogramauthorizedunderthissectionshall | |
| 1490 | - | 55automaticallysunsettwelveyearsaftertheeffectivedateofthereauthorizationofthissection; | |
| 1491 | - | 56and | |
| 1492 | - | 57 (3)ThissectionshallterminateonSeptemberfirstofthecalendaryearimmediately | |
| 1493 | - | 58followingthecalendaryearinwhichtheprogramauthorizedunderthissectionissunset.The | |
| 1494 | - | HCSHB2319 41 59terminationoftheprogramasdescribedinthissubsectionshallnotbeconstruedtopreclude | |
| 1495 | - | 60anyqualifiedtaxpayerwhoclaimsanybenefitunderanyprogramthatissunsetunderthis | |
| 1496 | - | 61subsectionfromclaimingsuchbenefitforallallowableactivitiesrelatedtosuchclaimthat | |
| 1497 | - | 62werecompletedbeforetheprogramwassunset,ortoeliminateanyresponsibilityofthe | |
| 1498 | - | 63departmenttoverifythecontinuedeligibilityofqualifiedindividualsreceivingtaxcreditsand | |
| 1499 | - | 64toenforceotherrequirementsoflawthatappliedbeforetheprogramwassunset. | |
| 1500 | - | 65 7.OnandafterAugust28,2024,thedepartmentofagricultureshalladminister | |
| 1501 | - | 66thetaxcreditprovidedunderthissection. | |
| 1502 | - | 135.800.1.Theprovisionsofsections135.800to135.830shallbeknownandmay | |
| 1503 | - | 2becitedasthe"TaxCreditAccountabilityActof2004". | |
| 1504 | - | 3 2.Asusedinsections135.800to135.830,thefollowingtermsmean: | |
| 1505 | - | 4 (1)"Administeringagency",thestateagencyordepartmentchargedwith | |
| 1506 | - | 5administeringaparticulartaxcreditprogram,assetforthbytheprogram'senacting | |
| 1507 | - | 6statute;wherenodepartmentoragencyissetforth,thedepartmentofrevenue; | |
| 1508 | - | 7 (2)"Agriculturaltaxcredits",theagriculturalproductutilizationcontributortaxcredit | |
| 1509 | - | 8createdpursuanttosection348.430,thenewgenerationcooperativeincentivetaxcredit | |
| 1510 | - | 9createdpursuanttosection348.432,thefamilyfarmbreedinglivestockloantaxcreditcreated | |
| 1511 | - | 10undersection348.505,andthequalifiedbeeftaxcreditcreatedundersection135.679[, and | |
| 1512 | - | 11thewineandgrapeproductiontaxcreditcreatedpursuanttosection135.700]; | |
| 1513 | - | 12 (3)"Businessrecruitmenttaxcredits",thebusinessfacilitytaxcreditcreatedpursuant | |
| 1514 | - | 13tosections135.110to135.150andsection135.258,theenterprisezonetaxbenefitscreated | |
| 1515 | - | 14pursuanttosections135.200to135.270,thebusinessuseincentivesforlarge-scale | |
| 1516 | - | 15developmentprogramscreatedpursuanttosections100.700to100.850,thedevelopmenttax | |
| 1517 | - | 16creditscreatedpursuanttosections32.100to32.125,therebuildingcommunitiestaxcredit | |
| 1518 | - | 17createdpursuanttosection135.535,thefilmproductiontaxcreditcreatedpursuanttosection | |
| 1519 | - | 18135.750,theenhancedenterprisezonecreatedpursuanttosections135.950to135.970,and | |
| 1520 | - | 19theMissouriqualityjobsprogramcreatedpursuanttosections620.1875to620.1900; | |
| 1521 | - | 20 (4)"Communitydevelopmenttaxcredits",theneighborhoodassistancetaxcredit | |
| 1522 | - | 21createdpursuanttosections32.100to32.125,andthefamilydevelopmentaccounttaxcredit | |
| 1523 | - | 22createdpursuanttosections208.750to208.775[, thedryfirehydranttaxcreditcreated | |
| 1524 | - | 23pursuanttosection320.093,andthetransportationdevelopmenttaxcreditcreatedpursuantto | |
| 1525 | - | 24section135.545]; | |
| 1526 | - | 25 (5)"Domesticandsocialtaxcredits",theyouthopportunitiestaxcreditcreated | |
| 1527 | - | 26pursuanttosection135.460andsections620.1100to620.1103,theshelterforvictimsof | |
| 1528 | - | 27domesticviolenceorrapecrisiscentercreatedpursuanttosection135.550,thesenior | |
| 1529 | - | 28citizenordisabledpersonpropertytaxcreditcreatedpursuanttosections135.010to135.035, | |
| 1530 | - | 29theadoptiontaxcreditcreatedpursuanttosections135.325to135.339,thechampionfor | |
| 1531 | - | HCSHB2319 42 30childrentaxcreditcreatedpursuanttosection135.341,thematernityhometaxcreditcreated | |
| 1532 | - | 31pursuanttosection135.600,thesurvivingspousetaxcreditcreatedpursuanttosection | |
| 1533 | - | 32135.090,theresidentialtreatmentagencytaxcreditcreatedpursuanttosection135.1150,the | |
| 1534 | - | 33pregnancyresourcecentertaxcreditcreatedpursuanttosection135.630,thefoodpantrytax | |
| 1535 | - | 34creditcreatedpursuanttosection135.647,theresidentialdwellingaccesstaxcreditcreated | |
| 1536 | - | 35pursuanttosection135.562,thedevelopmentaldisabilitycareprovidertaxcreditcreated | |
| 1537 | - | 36undersection135.1180,thesharedcaretaxcreditcreatedpursuanttosection192.2015,the | |
| 1538 | - | 37health,hunger,andhygienetaxcreditcreatedpursuanttosection135.1125,andthediaper | |
| 1539 | - | 38banktaxcreditcreatedpursuanttosection135.621; | |
| 1540 | - | 39 (6)"Entrepreneurialtaxcredits",thecapitaltaxcreditcreatedpursuanttosections | |
| 1541 | - | 40135.400to135.429,[thecertifiedcapitalcompanytaxcreditcreatedpursuanttosections | |
| 1542 | - | 41135.500to135.529,theseedcapitaltaxcreditcreatedpursuanttosections348.300to | |
| 1543 | - | 42348.318,thenewenterprisecreationtaxcreditcreatedpursuanttosections620.635to | |
| 1544 | - | 43620.653,] theresearchtaxcreditcreatedpursuanttosection620.1039,thesmallbusiness | |
| 1545 | - | 44incubatortaxcreditcreatedpursuanttosection620.495,[theguaranteefeetaxcreditcreated | |
| 1546 | - | 45pursuanttosection135.766,] andthenewgenerationcooperativetaxcreditcreatedpursuant | |
| 1547 | - | 46tosections32.105to32.125; | |
| 1548 | - | 47 (7)"Environmentaltaxcredits",[thecharcoalproducertaxcreditcreatedpursuantto | |
| 1549 | - | 48section135.313,] thewoodenergytaxcreditcreatedpursuanttosections135.300to135.311 | |
| 1550 | - | 49[,andthealternativefuelstationstaxcreditcreatedpursuanttosection135.710]; | |
| 1551 | - | 50 (8)"Financialandinsurancetaxcredits",thebankfranchisetaxcreditcreated | |
| 1552 | - | 51pursuanttosection148.030,thebanktaxcreditforScorporationscreatedpursuanttosection | |
| 1553 | - | 52143.471,theexamfeetaxcreditcreatedpursuanttosection148.400,thehealthinsurance | |
| 1554 | - | 53pooltaxcreditcreatedpursuanttosection376.975,thelifeandhealthinsuranceguaranty | |
| 1555 | - | 54associationtaxcreditcreatedpursuanttosection376.745,thepropertyandcasualtyguaranty | |
| 1556 | - | 55associationtaxcreditcreatedpursuanttosection375.774,andtheself-employedhealth | |
| 1557 | - | 56insurancetaxcreditcreatedpursuanttosection143.119; | |
| 1558 | - | 57 (9)"Housingtaxcredits",theneighborhoodpreservationtaxcreditcreatedpursuant | |
| 1559 | - | 58tosections135.475to135.487,thelow-incomehousingtaxcreditcreatedpursuantto | |
| 1560 | - | 59sections135.350to135.363,andtheaffordablehousingtaxcreditcreatedpursuantto | |
| 1561 | - | 60sections32.105to32.125; | |
| 1562 | - | 61 (10)"Recipient",theindividualorentitywhoboth: | |
| 1563 | - | 62 (a)Istheoriginalapplicantforataxcredit;and | |
| 1564 | - | 63 (b)Whodirectlyreceivesataxcreditortherighttotransferataxcreditunderatax | |
| 1565 | - | 64creditprogram,regardlessastowhetherthetaxcredithasbeenusedorredeemed;arecipient | |
| 1566 | - | 65shallnotincludethetransfereeofatransferabletaxcredit; | |
| 1567 | - | HCSHB2319 43 66 (11)"Redevelopmenttaxcredits",thehistoricpreservationtaxcreditcreatedpursuant | |
| 1568 | - | 67tosections253.545to253.559,thebrownfieldredevelopmentprogramtaxcreditcreated | |
| 1569 | - | 68pursuanttosections447.700to447.718,thecommunitydevelopmentcorporationstaxcredit | |
| 1570 | - | 69createdpursuanttosections135.400to135.430,theinfrastructuretaxcreditcreatedpursuant | |
| 1571 | - | 70tosubsection6ofsection100.286,thebondguaranteetaxcreditcreatedpursuanttosection | |
| 1572 | - | 71100.297,andthedisabledaccesstaxcreditcreatedpursuanttosection135.490[, thenew | |
| 1573 | - | 72marketstaxcreditcreatedpursuanttosection135.680,andthedistressedareasland | |
| 1574 | - | 73assemblagetaxcreditcreatedpursuanttosection99.1205]; | |
| 1575 | - | 74 (12)"Taxcreditprogram",anyofthetaxcreditprogramsincludedinthedefinitions | |
| 1576 | - | 75ofagriculturaltaxcredits,businessrecruitmenttaxcredits,communitydevelopmenttax | |
| 1577 | - | 76credits,domesticandsocialtaxcredits,entrepreneurialtaxcredits,environmentaltaxcredits, | |
| 1578 | - | 77housingtaxcredits,redevelopmenttaxcredits,andtrainingandeducationaltaxcredits; | |
| 1579 | - | 78 (13)"Trainingandeducationaltaxcredits",theMissouriworksnewjobstaxcredit | |
| 1580 | - | 79andMissouriworksretainedjobscreditcreatedpursuanttosections620.800to620.809. | |
| 1767 | + | 38anydocumentationitdeemsnecessarytoadministertheprovisionsofthissection. | |
| 1768 | + | 39 5.Thedepartmentofagricultureshallpromulgaterulestoimplementandadminister | |
| 1769 | + | 40theprovisionsofthissection.Anyruleorportionofarule,asthattermisdefinedinsection | |
| 1770 | + | 41536.010,thatiscreatedpursuanttotheauthoritydelegatedinthissectionshallbecome | |
| 1771 | + | 42effectiveonlyifitcomplieswithandissubjecttoalloftheprovisionsofchapter536and,if | |
| 1772 | + | 43applicable,section536.028.Thissectionandchapter536arenonseverableandifanyofthe | |
| 1773 | + | 44powersvestedwiththegeneralassemblypursuanttochapter536toreview,todelaythe | |
| 1774 | + | 45effectivedate,ortodisapproveandannularulearesubsequentlyheldunconstitutional,then | |
| 1775 | + | 46thegrantofrulemakingauthorityandanyruleproposedoradoptedafterJanuary2,2023, | |
| 1776 | + | 47shallbeinvalidandvoid. | |
| 1777 | + | 48 6.Undersection23.253oftheMissourisunsetact: | |
| 1778 | + | 49 (1)Theprovisionsofthenewprogramauthorizedunderthissectionshall | |
| 1779 | + | 50automaticallysunsetonDecember31,2028,unlessreauthorizedbyanactofthegeneral | |
| 1780 | + | 51assembly; | |
| 1781 | + | 52 (2)Ifsuchprogramisreauthorized,theprogramauthorizedunderthissectionshall | |
| 1782 | + | 53automaticallysunsettwelveyearsaftertheeffectivedateofthereauthorizationofthissection; | |
| 1783 | + | 54and | |
| 1784 | + | 55 (3)ThissectionshallterminateonSeptemberfirstofthecalendaryearimmediately | |
| 1785 | + | 56followingthecalendaryearinwhichtheprogramauthorizedunderthissectionissunset.The | |
| 1786 | + | 57terminationoftheprogramasdescribedinthissubsectionshallnotbeconstruedtopreclude | |
| 1787 | + | 58anyqualifiedtaxpayerwhoclaimsanybenefitunderanyprogramthatissunsetunderthis | |
| 1788 | + | HB2319 49 59subsectionfromclaimingsuchbenefitforallallowableactivitiesrelatedtosuchclaimthat | |
| 1789 | + | 60werecompletedbeforetheprogramwassunset,ortoeliminateanyresponsibilityofthe | |
| 1790 | + | 61departmenttoverifythecontinuedeligibilityofqualifiedindividualsreceivingtaxcreditsand | |
| 1791 | + | 62toenforceotherrequirementsoflawthatappliedbeforetheprogramwassunset. | |
| 1792 | + | 63 7.Aftertheeffectivedateofthissection,thedepartmentofagricultureshall | |
| 1793 | + | 64administerthetaxcreditprovidedunderthissection. | |
| 1794 | + | 135.1125.1.Asusedinthissection,thefollowingtermsshallmean: | |
| 1795 | + | 2 (1)"Certificate",ataxcreditcertificateissuedunderthissection; | |
| 1796 | + | 3 (2)"Department",theMissouridepartmentofsocialservices; | |
| 1797 | + | 4 (3)"Eligibledonation",adonationofcash,stock,bondsorothermarketable | |
| 1798 | + | 5securities,orrealpropertymadetoaneligibleprovider; | |
| 1799 | + | 6 (4)"Eligibleprovider",anorganizationthatprovidesfundingforunmethealth, | |
| 1800 | + | 7hunger,andhygieneneedsofchildreninschool; | |
| 1801 | + | 8 (5)"Taxpayer",aperson,firm,partnerinafirm,corporation,orashareholderinanS | |
| 1802 | + | 9corporationdoingbusinessinthestateofMissouriandsubjecttothestateincometax | |
| 1803 | + | 10imposedinchapter143,aninsurancecompanypayinganannualtaxonitsgrosspremium | |
| 1804 | + | 11receiptsinthisstate,anyotherfinancialinstitutionpayingtaxestothestateofMissouriorany | |
| 1805 | + | 12politicalsubdivisionofthisstateunderchapter148,oranycharitableorganizationwhichis | |
| 1806 | + | 13exemptfromfederalincometaxandwhoseMissouriunrelatedbusinesstaxableincome,if | |
| 1807 | + | 14any,wouldbesubjecttothestateincometaximposedunderchapter143. | |
| 1808 | + | 15 2.Forall[taxable] taxyearsbeginningonorafterJanuary1,2019,anytaxpayershall | |
| 1809 | + | 16beallowedacreditagainstthetaxesotherwisedueunderchapter143or148,excluding | |
| 1810 | + | 17withholdingtaxundersections143.191to143.265,inanamountequaltofiftypercentofthe | |
| 1811 | + | 18amountofaneligibledonation.Theamountofthetaxcreditclaimedshallnotexceedthe | |
| 1812 | + | 19amountofthetaxpayer'sstateincometaxliabilityinthetaxyearforwhichthecreditis | |
| 1813 | + | 20claimed.Anyamountofcreditthatthetaxpayerisprohibitedbythissectionfromclaimingin | |
| 1814 | + | 21ataxyearshallnotberefundable,butmaybecarriedforwardtoanyofthetaxpayer'sfour | |
| 1815 | + | 22subsequent[taxable] taxyears. | |
| 1816 | + | 23 3.Toclaimthecreditauthorizedinthissection,aprovidermaysubmittothe | |
| 1817 | + | 24departmentanapplicationforthetaxcreditauthorizedbythissectiononbehalfoftaxpayers. | |
| 1818 | + | 25Thedepartmentshallverifythattheproviderhassubmittedthefollowingitemsaccurately | |
| 1819 | + | 26andcompletely: | |
| 1820 | + | 27 (1)Avalidapplicationintheformandformatrequiredbythedepartment; | |
| 1821 | + | 28 (2)Astatementattestingtotheeligibledonationreceived,whichshallincludethe | |
| 1822 | + | 29nameandtaxpayeridentificationnumberoftheindividualmakingtheeligibledonation,the | |
| 1823 | + | 30amountoftheeligibledonation,andthedatetheeligibledonationwasreceivedbythe | |
| 1824 | + | 31provider;and | |
| 1825 | + | HB2319 50 32 (3)Apaymentfromtheeligibleproviderinanamountequaltofiftypercentofthe | |
| 1826 | + | 33eligibledonation. | |
| 1827 | + | 34 | |
| 1828 | + | 35Iftheproviderapplyingforthetaxcreditmeetsallcriteriarequiredbythissubsection,the | |
| 1829 | + | 36departmentshallissueacertificateintheappropriateamount. | |
| 1830 | + | 37 4.Taxcreditsissuedunderthissectionmaybeassigned,transferred,sold,or | |
| 1831 | + | 38otherwiseconveyed,andthenewownerofthetaxcreditshallhavethesamerightsinthe | |
| 1832 | + | 39creditasthetaxpayer.Wheneveracertificateisassigned,transferred,sold,orotherwise | |
| 1833 | + | 40conveyed,anotarizedendorsementshallbefiledwiththedepartmentspecifyingthename | |
| 1834 | + | 41andaddressofthenewownerofthetaxcreditorthevalueofthecredit. | |
| 1835 | + | 42 5.(1)ForalltaxyearsbeginningonorafterJanuary1,2025,thecumulative | |
| 1836 | + | 43amountoftaxcreditsallowedtoalltaxpayersunderthissectionshallnotexceedthe | |
| 1837 | + | 44totalcapamountwhichshallbeanamountequaltotwentypercentgreaterthanthe | |
| 1838 | + | 45highestannualamountoftaxcreditsredeemedinanyonepreviousfiscalyear,from | |
| 1839 | + | 46fiscalyear2018tofiscalyear2024,asdeterminedandcalculatedbythedepartment. | |
| 1840 | + | 47 (2)Iftheamountoftaxcreditsclaimedinataxyearunderthissectionexceeds | |
| 1841 | + | 48thetotalcapdeterminedundersubdivision(2)ofthissubsection,taxcreditsshallbe | |
| 1842 | + | 49allowedbasedontheorderinwhichtheyareclaimed. | |
| 1843 | + | 50 [5.]6.Thedepartmentshallpromulgaterulestoimplementtheprovisionsofthis | |
| 1844 | + | 51section.Anyruleorportionofarule,asthattermisdefinedinsection536.010,thatis | |
| 1845 | + | 52createdundertheauthoritydelegatedinthissectionshallbecomeeffectiveonlyifitcomplies | |
| 1846 | + | 53withandissubjecttoalloftheprovisionsofchapter536and,ifapplicable,section536.028. | |
| 1847 | + | 54Thissectionandchapter536arenonseverableandifanyofthepowersvestedwiththe | |
| 1848 | + | 55generalassemblypursuanttochapter536toreview,todelaytheeffectivedate,orto | |
| 1849 | + | 56disapproveandannularulearesubsequentlyheldunconstitutional,thenthegrantof | |
| 1850 | + | 57rulemakingauthorityandanyruleproposedoradoptedafterAugust28,2018,shallbeinvalid | |
| 1851 | + | 58andvoid. | |
| 1852 | + | 59 [6.]7.Pursuanttosection23.253oftheMissourisunsetact: | |
| 1853 | + | 60 (1)TheprovisionsofthissectionshallautomaticallysunsetsixyearsafterAugust28, | |
| 1854 | + | 612018,unlessreauthorizedbyanactofthegeneralassembly;and | |
| 1855 | + | 62 (2)Ifsuchprogramisreauthorized,theprogramauthorizedunderthissectionshall | |
| 1856 | + | 63automaticallysunsettwelveyearsaftertheeffectivedateofthereauthorizationofthissection; | |
| 1857 | + | 64and | |
| 1858 | + | 65 (3)ThissectionshallterminateonSeptemberfirstofthecalendaryearimmediately | |
| 1859 | + | 66followingthecalendaryearinwhichtheprogramauthorizedunderthissectionissunset. | |
| 1581 | 1860 | 135.1150.1.Thissectionshallbeknownandmaybecitedasthe"Residential | |
| 1582 | 1861 | 2TreatmentAgencyTaxCreditAct". | |
| 1583 | - | 3 2.Asusedinthissection,thefollowingtermsmean: | |
| 1862 | + | HB2319 51 3 2.Asusedinthissection,thefollowingtermsmean: | |
| 1584 | 1863 | 4 (1)"Certificate",ataxcreditcertificateissuedunderthissection; | |
| 1585 | 1864 | 5 (2)"Department",theMissouridepartmentofsocialservices; | |
| 1586 | 1865 | 6 (3)"Eligibledonation",donationsreceivedfromataxpayerbyanagencythatare | |
| 1587 | 1866 | 7usedsolelytoprovidedirectcareservicestochildrenwhoareresidentsofthisstate.Eligible | |
| 1588 | 1867 | 8donationsmayincludecash,publiclytradedstocksandbonds,andrealestatethatwillbe | |
| 1589 | 1868 | 9valuedanddocumentedaccordingtorulespromulgatedbythedepartmentofsocialservices. | |
| 1590 | 1869 | 10Forpurposesofthissection,"directcareservices"includebutarenotlimitedtoincreasingthe | |
| 1591 | 1870 | 11qualityofcareandserviceforchildrenthroughimprovedemployeecompensationand | |
| 1592 | 1871 | 12training; | |
| 1593 | 1872 | 13 (4)"Qualifiedresidentialtreatmentagency"or"agency",aresidentialcarefacility | |
| 1594 | 1873 | 14thatislicensedundersection210.484,accreditedbytheCouncilonAccreditation(COA),the | |
| 1595 | 1874 | 15JointCommissiononAccreditationofHealthcareOrganizations(JCAHO),orthe | |
| 1596 | 1875 | 16CommissiononAccreditationofRehabilitationFacilities(CARF),andisundercontract | |
| 1597 | 1876 | 17withtheMissouridepartmentofsocialservicestoprovidetreatmentservicesforchildrenwho | |
| 1598 | 1877 | 18areresidentsorwardsofresidentsofthisstate,andthatreceiveseligibledonations.Any | |
| 1599 | 1878 | 19agencythatoperatesmorethanonefacilityoratmorethanonelocationshallbeeligiblefor | |
| 1600 | 1879 | 20thetaxcreditunderthissectiononlyforanyeligibledonationmadetofacilitiesorlocations | |
| 1601 | 1880 | 21oftheagencywhicharelicensedandaccredited; | |
| 1602 | 1881 | 22 (5)"Taxpayer",anyofthefollowingindividualsorentitieswhomakeaneligible | |
| 1603 | 1882 | 23donationtoanagency: | |
| 1604 | - | ||
| 1883 | + | 24 (a)Aperson,firm,partnerinafirm,corporation,orashareholderinanScorporation | |
| 1605 | 1884 | 25doingbusinessinthestateofMissouriandsubjecttothestateincometaximposedinchapter | |
| 1606 | 1885 | 26143; | |
| 1607 | 1886 | 27 (b)Acorporationsubjecttotheannualcorporationfranchisetaximposedinchapter | |
| 1608 | 1887 | 28147; | |
| 1609 | 1888 | 29 (c)Aninsurancecompanypayinganannualtaxonitsgrosspremiumreceiptsinthis | |
| 1610 | 1889 | 30state; | |
| 1611 | 1890 | 31 (d)AnyotherfinancialinstitutionpayingtaxestothestateofMissouriorany | |
| 1612 | 1891 | 32politicalsubdivisionofthisstateunderchapter148; | |
| 1613 | 1892 | 33 (e)Anindividualsubjecttothestateincometaximposedinchapter143; | |
| 1614 | 1893 | 34 (f)Anycharitableorganizationwhichisexemptfromfederalincometaxandwhose | |
| 1615 | 1894 | 35Missouriunrelatedbusinesstaxableincome,ifany,wouldbesubjecttothestateincometax | |
| 1616 | 1895 | 36imposedunderchapter143. | |
| 1617 | 1896 | 37 3.Forall[taxable] taxyearsbeginningonorafterJanuary1,2007,anytaxpayershall | |
| 1618 | 1897 | 38beallowedacreditagainstthetaxesotherwisedueunderchapter143,147,or148,excluding | |
| 1619 | 1898 | 39withholdingtaximposedbysections143.191to143.265,inanamountequaltofiftypercent | |
| 1620 | - | 40oftheamountofaneligibledonation,subjecttotherestrictionsinthissection.Theamount | |
| 1899 | + | HB2319 52 40oftheamountofaneligibledonation,subjecttotherestrictionsinthissection.Theamount | |
| 1621 | 1900 | 41ofthetaxcreditclaimedshallnotexceedtheamountofthetaxpayer'sstateincometax | |
| 1622 | 1901 | 42liabilityinthetaxyearforwhichthecreditisclaimed.Anyamountofcreditthatthetaxpayer | |
| 1623 | 1902 | 43isprohibitedbythissectionfromclaiminginataxyearshallnotberefundable,butmaybe | |
| 1624 | 1903 | 44carriedforwardtoanyofthetaxpayer'sfoursubsequent[taxable] taxyears. | |
| 1625 | 1904 | 45 4.Toclaimthecreditauthorizedinthissection,anagencymaysubmittothe | |
| 1626 | 1905 | 46departmentanapplicationforthetaxcreditauthorizedbythissectiononbehalfoftaxpayers. | |
| 1627 | 1906 | 47Thedepartmentshallverifythattheagencyhassubmittedthefollowingitemsaccuratelyand | |
| 1628 | 1907 | 48completely: | |
| 1629 | 1908 | 49 (1)Avalidapplicationintheformandformatrequiredbythedepartment; | |
| 1630 | 1909 | 50 (2)Astatementattestingtotheeligibledonationreceived,whichshallincludethe | |
| 1631 | 1910 | 51nameandtaxpayeridentificationnumberoftheindividualmakingtheeligibledonation,the | |
| 1632 | 1911 | 52amountoftheeligibledonation,andthedatetheeligibledonationwasreceivedbythe | |
| 1633 | 1912 | 53agency;and | |
| 1634 | 1913 | 54 (3)Paymentfromtheagencyequaltothevalueofthetaxcreditforwhichapplication | |
| 1635 | 1914 | 55ismade. | |
| 1636 | 1915 | 56 | |
| 1637 | 1916 | 57Iftheagencyapplyingforthetaxcreditmeetsallcriteriarequiredbythissubsection,the | |
| 1638 | 1917 | 58departmentshallissueacertificateintheappropriateamount. | |
| 1639 | 1918 | 59 5.Anagencymayapplyfortaxcreditsinanaggregateamountthatdoesnotexceed | |
| 1640 | 1919 | 60thepaymentsmadebythedepartmenttotheagencyintheprecedingtwelvemonths. | |
| 1641 | - | ||
| 1920 | + | 61 6.Taxcreditsissuedunderthissectionmaybeassigned,transferred,sold,or | |
| 1642 | 1921 | 62otherwiseconveyed,andthenewownerofthetaxcreditshallhavethesamerightsinthe | |
| 1643 | 1922 | 63creditasthetaxpayer.Wheneveracertificateisassigned,transferred,sold,orotherwise | |
| 1644 | 1923 | 64conveyed,anotarizedendorsementshallbefiledwiththedepartmentspecifyingthename | |
| 1645 | 1924 | 65andaddressofthenewownerofthetaxcreditorthevalueofthecredit. | |
| 1646 | - | 66 7.(1) | |
| 1925 | + | 66 7.(1)ForalltaxyearsbeginningonorafterJanuary1,2025,thecumulative | |
| 1647 | 1926 | 67amountoftaxcreditsallowedtoalltaxpayersunderthissectionshallnotexceedthe | |
| 1648 | 1927 | 68totalcapamountwhichshallbeanamountequaltotwentypercentgreaterthanthe | |
| 1649 | 1928 | 69highestannualamountoftaxcreditsredeemedinanyonepreviousfiscalyear,from | |
| 1650 | 1929 | 70fiscalyear2018tofiscalyear2024,asdeterminedandcalculatedbythedepartment. | |
| 1651 | - | 71 (2) | |
| 1652 | - | 72thetotalcapdeterminedundersubdivision( | |
| 1930 | + | 71 (2)Iftheamountoftaxcreditsclaimedinataxyearunderthissectionexceeds | |
| 1931 | + | 72thetotalcapdeterminedundersubdivision(2)ofthissubsection,taxcreditsshallbe | |
| 1653 | 1932 | 73allowedbasedontheorderinwhichtheyareclaimed. | |
| 1654 | 1933 | 74 [7.]8.Thedepartmentshallpromulgaterulestoimplementtheprovisionsofthis | |
| 1655 | 1934 | 75section.Anyruleorportionofarule,asthattermisdefinedinsection536.010,thatis | |
| 1656 | 1935 | 76createdundertheauthoritydelegatedinthissectionshallbecomeeffectiveonlyifitcomplies | |
| 1657 | - | 77withandissubjecttoalloftheprovisionsofchapter536and,ifapplicable,section536.028. | |
| 1936 | + | HB2319 53 77withandissubjecttoalloftheprovisionsofchapter536and,ifapplicable,section536.028. | |
| 1658 | 1937 | 78Thissectionandchapter536arenonseverableandifanyofthepowersvestedwiththe | |
| 1659 | 1938 | 79generalassemblypursuanttochapter536toreview,todelaytheeffectivedate,orto | |
| 1660 | 1939 | 80disapproveandannularulearesubsequentlyheldunconstitutional,thenthegrantof | |
| 1661 | 1940 | 81rulemakingauthorityandanyruleproposedoradoptedafterAugust28,2006,shallbeinvalid | |
| 1662 | 1941 | 82andvoid. | |
| 1663 | 1942 | 83 9.Undersection23.253oftheMissourisunsetact: | |
| 1664 | 1943 | 84 (1)Theprovisionsoftheprogramauthorizedunderthissectionshall | |
| 1665 | - | ||
| 1666 | - | ||
| 1944 | + | 85automaticallysunsetonDecember31,2030,unlessreauthorizedbyanactofthe | |
| 1945 | + | 86generalassembly; | |
| 1667 | 1946 | 87 (2)Ifsuchprogramisreauthorized,theprogramauthorizedunderthissection | |
| 1668 | - | ||
| 1669 | - | ||
| 1947 | + | 88shallautomaticallysunsetonDecemberthirty-first,sixyearsaftertheeffectivedateof | |
| 1948 | + | 89thereauthorizationofthissection; | |
| 1670 | 1949 | 90 (3)ThissectionshallterminateonSeptemberfirstofthecalendaryear | |
| 1671 | 1950 | 91immediatelyfollowingthecalendaryearinwhichtheprogramauthorizedunderthis | |
| 1672 | 1951 | 92sectionissunset;and | |
| 1673 | 1952 | 93 (4)Theprovisionsofthissubsectionshallnotbeconstruedtolimitorinanyway | |
| 1674 | 1953 | 94impairataxpayer'sabilitytoredeemtaxcreditsauthorizedonorbeforethedatethe | |
| 1675 | 1954 | 95programauthorizedunderthissectionexpires. | |
| 1676 | 1955 | 135.1180.1.Thissectionshallbeknownandmaybecitedasthe"Developmental | |
| 1677 | 1956 | 2DisabilityCareProviderTaxCreditProgram". | |
| 1678 | - | ||
| 1957 | + | 3 2.Asusedinthissection,thefollowingtermsmean: | |
| 1679 | 1958 | 4 (1)"Certificate",ataxcreditcertificateissuedunderthissection; | |
| 1680 | 1959 | 5 (2)"Department",theMissouridepartmentofsocialservices; | |
| 1681 | 1960 | 6 (3)"Eligibledonation",donationsreceivedbyaproviderfromataxpayerthatare | |
| 1682 | 1961 | 7usedsolelytoprovidedirectcareservicestopersonswithdevelopmentaldisabilitieswhoare | |
| 1683 | 1962 | 8residentsofthisstate.Eligibledonationsmayincludecash,publiclytradedstocksandbonds, | |
| 1684 | 1963 | 9andrealestatethatwillbevaluedanddocumentedaccordingtorulespromulgatedbythe | |
| 1685 | 1964 | 10departmentofsocialservices.Forpurposesofthissection,"directcareservices"include,but | |
| 1686 | 1965 | 11arenotlimitedto,increasingthequalityofcareandserviceforpersonswithdevelopmental | |
| 1687 | 1966 | 12disabilitiesthroughimprovedemployeecompensationandtraining; | |
| 1688 | 1967 | 13 (4)"Qualifieddevelopmentaldisabilitycareprovider"or"provider",acareprovider | |
| 1689 | 1968 | 14thatprovidesassistancetopersonswithdevelopmentaldisabilities,andisaccreditedbythe | |
| 1690 | 1969 | 15CouncilonAccreditation(COA),theJointCommissiononAccreditationofHealthcare | |
| 1691 | 1970 | 16Organizations(JCAHO),ortheCommissiononAccreditationofRehabilitationFacilities | |
| 1692 | 1971 | 17(CARF),orisundercontractwiththeMissouridepartmentofsocialservicesordepartmentof | |
| 1693 | 1972 | 18mentalhealthtoprovidetreatmentservicesforsuchpersons,andthatreceiveseligible | |
| 1694 | - | 19donations.Anyproviderthatoperatesmorethanonefacilityoratmorethanonelocation | |
| 1973 | + | HB2319 54 19donations.Anyproviderthatoperatesmorethanonefacilityoratmorethanonelocation | |
| 1695 | 1974 | 20shallbeeligibleforthetaxcreditunderthissectiononlyforanyeligibledonationmadeto | |
| 1696 | 1975 | 21facilitiesorlocationsoftheproviderwhicharelicensedoraccredited; | |
| 1697 | 1976 | 22 (5)"Taxpayer",anyofthefollowingindividualsorentitieswhomakeaneligible | |
| 1698 | 1977 | 23donationtoaprovider: | |
| 1699 | 1978 | 24 (a)Aperson,firm,partnerinafirm,corporation,orashareholderinanScorporation | |
| 1700 | 1979 | 25doingbusinessinthestateofMissouriandsubjecttothestateincometaximposedinchapter | |
| 1701 | 1980 | 26143; | |
| 1702 | 1981 | 27 (b)Acorporationsubjecttotheannualcorporationfranchisetaximposedinchapter | |
| 1703 | 1982 | 28147; | |
| 1704 | 1983 | 29 (c)Aninsurancecompanypayinganannualtaxonitsgrosspremiumreceiptsinthis | |
| 1705 | 1984 | 30state; | |
| 1706 | 1985 | 31 (d)AnyotherfinancialinstitutionpayingtaxestothestateofMissouriorany | |
| 1707 | 1986 | 32politicalsubdivisionofthisstateunderchapter148; | |
| 1708 | 1987 | 33 (e)Anindividualsubjecttothestateincometaximposedinchapter143; | |
| 1709 | 1988 | 34 (f)Anycharitableorganizationwhichisexemptfromfederalincometaxandwhose | |
| 1710 | 1989 | 35Missouriunrelatedbusinesstaxableincome,ifany,wouldbesubjecttothestateincometax | |
| 1711 | 1990 | 36imposedunderchapter143. | |
| 1712 | 1991 | 37 3.Forall[taxable] taxyearsbeginningonorafterJanuary1,2012,anytaxpayershall | |
| 1713 | 1992 | 38beallowedacreditagainstthetaxesotherwisedueunderchapter143,147,or148excluding | |
| 1714 | 1993 | 39withholdingtaximposedbysections143.191to143.265inanamountequaltofiftypercent | |
| 1715 | - | ||
| 1994 | + | 40oftheamountofaneligibledonation,subjecttotherestrictionsinthissection.Theamount | |
| 1716 | 1995 | 41ofthetaxcreditclaimedshallnotexceedtheamountofthetaxpayer'sstateincometax | |
| 1717 | 1996 | 42liabilityinthetaxyearforwhichthecreditisclaimed.Anyamountofcreditthatthetaxpayer | |
| 1718 | 1997 | 43isprohibitedbythissectionfromclaiminginataxyearshallnotberefundable,butmaybe | |
| 1719 | 1998 | 44carriedforwardtoanyofthetaxpayer'sfoursubsequent[taxable] taxyears. | |
| 1720 | 1999 | 45 4.Toclaimthecreditauthorizedinthissection,aprovidermaysubmittothe | |
| 1721 | 2000 | 46departmentanapplicationforthetaxcreditauthorizedbythissectiononbehalfoftaxpayers. | |
| 1722 | 2001 | 47Thedepartmentshallverifythattheproviderhassubmittedthefollowingitemsaccurately | |
| 1723 | 2002 | 48andcompletely: | |
| 1724 | 2003 | 49 (1)Avalidapplicationintheformandformatrequiredbythedepartment; | |
| 1725 | 2004 | 50 (2)Astatementattestingtotheeligibledonationreceived,whichshallincludethe | |
| 1726 | 2005 | 51nameandtaxpayeridentificationnumberoftheindividualmakingtheeligibledonation,the | |
| 1727 | 2006 | 52amountoftheeligibledonation,andthedatetheeligibledonationwasreceivedbythe | |
| 1728 | 2007 | 53provider;and | |
| 1729 | 2008 | 54 (3)Paymentfromtheproviderequaltothevalueofthetaxcreditforwhich | |
| 1730 | 2009 | 55applicationismade. | |
| 1731 | - | 56 | |
| 2010 | + | HB2319 55 56 | |
| 1732 | 2011 | 57Iftheproviderapplyingforthetaxcreditmeetsallcriteriarequiredbythissubsection,the | |
| 1733 | 2012 | 58departmentshallissueacertificateintheappropriateamount. | |
| 1734 | 2013 | 59 5.Taxcreditsissuedunderthissectionmaybeassigned,transferred,sold,or | |
| 1735 | 2014 | 60otherwiseconveyed,andthenewownerofthetaxcreditshallhavethesamerightsinthe | |
| 1736 | 2015 | 61creditasthetaxpayer.Wheneveracertificateisassigned,transferred,sold,orotherwise | |
| 1737 | 2016 | 62conveyed,anotarizedendorsementshallbefiledwiththedepartmentspecifyingthename | |
| 1738 | 2017 | 63andaddressofthenewownerofthetaxcreditorthevalueofthecredit. | |
| 1739 | - | 64 6.(1) | |
| 2018 | + | 64 6.(1)ForalltaxyearsbeginningonorafterJanuary1,2025,thecumulative | |
| 1740 | 2019 | 65amountoftaxcreditsallowedtoalltaxpayersunderthissectionshallnotexceedthe | |
| 1741 | 2020 | 66totalcapamountwhichshallbeanamountequaltotwentypercentgreaterthanthe | |
| 1742 | 2021 | 67highestannualamountoftaxcreditsredeemedinanyonepreviousfiscalyear,from | |
| 1743 | 2022 | 68fiscalyear2018tofiscalyear2024,asdeterminedandcalculatedbythedepartment. | |
| 1744 | - | 69 (2) | |
| 1745 | - | 70thetotalcapdeterminedundersubdivision( | |
| 2023 | + | 69 (2)Iftheamountoftaxcreditsclaimedinataxyearunderthissectionexceeds | |
| 2024 | + | 70thetotalcapdeterminedundersubdivision(2)ofthissubsection,taxcreditsshallbe | |
| 1746 | 2025 | 71allowedbasedontheorderinwhichtheyareclaimed. | |
| 1747 | 2026 | 72 [6.]7.Thedepartmentshallpromulgaterulestoimplementtheprovisionsofthis | |
| 1748 | 2027 | 73section.Anyruleorportionofarule,asthattermisdefinedinsection536.010,thatis | |
| 1749 | 2028 | 74createdundertheauthoritydelegatedinthissectionshallbecomeeffectiveonlyifitcomplies | |
| 1750 | 2029 | 75withandissubjecttoalloftheprovisionsofchapter536and,ifapplicable,section536.028. | |
| 1751 | 2030 | 76Thissectionandchapter536arenonseverableandifanyofthepowersvestedwiththe | |
| 1752 | - | ||
| 2031 | + | 77generalassemblypursuanttochapter536toreview,todelaytheeffectivedate,orto | |
| 1753 | 2032 | 78disapproveandannularulearesubsequentlyheldunconstitutional,thenthegrantof | |
| 1754 | 2033 | 79rulemakingauthorityandanyruleproposedoradoptedafterAugust28,2012,shallbeinvalid | |
| 1755 | 2034 | 80andvoid. | |
| 1756 | 2035 | 81 8.Undersection23.253oftheMissourisunsetact: | |
| 1757 | 2036 | 82 (1)Theprovisionsoftheprogramauthorizedunderthissectionshall | |
| 1758 | - | ||
| 1759 | - | ||
| 2037 | + | 83automaticallysunsetonDecember31,2030,unlessreauthorizedbyanactofthe | |
| 2038 | + | 84generalassembly; | |
| 1760 | 2039 | 85 (2)Ifsuchprogramisreauthorized,theprogramauthorizedunderthissection | |
| 1761 | - | ||
| 1762 | - | ||
| 2040 | + | 86shallautomaticallysunsetonDecemberthirty-first,sixyearsaftertheeffectivedateof | |
| 2041 | + | 87thereauthorizationofthissection; | |
| 1763 | 2042 | 88 (3)ThissectionshallterminateonSeptemberfirstofthecalendaryear | |
| 1764 | 2043 | 89immediatelyfollowingthecalendaryearinwhichtheprogramauthorizedunderthis | |
| 1765 | 2044 | 90sectionissunset;and | |
| 1766 | - | 91 (4)Theprovisionsofthissubsectionshallnotbeconstruedtolimitorinanyway | |
| 2045 | + | HB2319 56 91 (4)Theprovisionsofthissubsectionshallnotbeconstruedtolimitorinanyway | |
| 1767 | 2046 | 92impairataxpayer'sabilitytoredeemtaxcreditsauthorizedonorbeforethedatethe | |
| 1768 | 2047 | 93programauthorizedunderthissectionexpires. | |
| 2048 | + | 137.1018.1.Thecommissionshallascertainthestatewideaveragerateofproperty | |
| 2049 | + | 2taxesleviedtheprecedingyear,baseduponthetotalassessedvaluationoftherailroadand | |
| 2050 | + | 3streetrailwaycompaniesandthetotalpropertytaxesleviedupontherailroadandstreet | |
| 2051 | + | 4railwaycompanies.Itshalldeterminetotalpropertytaxesleviedfromreportsprescribedby | |
| 2052 | + | 5thecommissionfromtherailroadandstreetrailwaycompanies.Totaltaxesleviedshallnot | |
| 2053 | + | 6includerevenuesfromthesurtaxonsubclassthreerealproperty. | |
| 2054 | + | 7 2.Thecommissionshallreportitsdeterminationofaveragepropertytaxrateforthe | |
| 2055 | + | 8precedingyear,togetherwiththetaxabledistributableassessedvaluationofeachfreightline | |
| 2056 | + | 9companyforthecurrentyeartothedirectornolaterthanOctoberfirstofeachyear. | |
| 2057 | + | 10 3.Taxesonpropertyofsuchfreightlinecompaniesshallbecollectedatthestatelevel | |
| 2058 | + | 11bythedirectoronbehalfofthecountiesandotherlocalpublictaxingentitiesandshallbe | |
| 2059 | + | 12distributedinaccordancewithsections137.1021and137.1024.Thedirectorshalltaxsuch | |
| 2060 | + | 13propertybaseduponthedistributableassessedvaluationattributabletoMissouriofeach | |
| 2061 | + | 14freightlinecompany,usingtheaveragetaxratefortheprecedingyearoftherailroadand | |
| 2062 | + | 15streetrailwaycompaniescertifiedbythecommission.Suchtaxshallbedueandpayableon | |
| 2063 | + | 16orbeforeDecemberthirty-firstoftheyearleviedand,ifitbecomesdelinquent,shallbe | |
| 2064 | + | 17subjecttoapenaltyequaltothatspecifiedinsection140.100. | |
| 2065 | + | 18 4.(1)Asusedinthissubsection,thefollowingtermsmean: | |
| 2066 | + | 19 (a)"Eligibleexpenses",expensesincurredinthisstatetomanufacture,maintain,or | |
| 2067 | + | 20improveafreightlinecompany'squalifiedrollingstock; | |
| 2068 | + | 21 (b)"Qualifiedrollingstock",anyfreight,stock,refrigerator,orotherrailcarssubject | |
| 2069 | + | 22tothetaxleviedunderthissection. | |
| 2070 | + | 23 (2)Forall[taxable] taxyearsbeginningonorafterJanuary1,2009,afreightline | |
| 2071 | + | 24companyshall,subjecttoappropriation,beallowedacreditagainstthetaxleviedunderthis | |
| 2072 | + | 25sectionfortheapplicabletaxyear.Thetaxcreditamountshallbeequaltotheamountof | |
| 2073 | + | 26eligibleexpensesincurredduringthecalendaryearimmediatelyprecedingthetaxyearfor | |
| 2074 | + | 27whichthecreditunderthissectionisclaimed.Theamountofthetaxcreditissuedshallnot | |
| 2075 | + | 28exceedthefreightlinecompany'sliabilityforthetaxleviedunderthissectionforthetaxyear | |
| 2076 | + | 29forwhichthecreditisclaimed. | |
| 2077 | + | 30 (3)Afreightlinecompanymayapplyforthecreditbysubmittingtothecommission | |
| 2078 | + | 31anapplicationintheformprescribedbythestatetaxcommission. | |
| 2079 | + | 32 (4)Subjecttoappropriation,thestateshallreimburse,onanannualbasis,any | |
| 2080 | + | 33politicalsubdivisionofthisstateforanydecreaseinrevenueduetotheprovisionsofthis | |
| 2081 | + | 34subsection. | |
| 2082 | + | HB2319 57 35 (5)ForalltaxyearsbeginningonorafterJanuary1,2025,thecumulative | |
| 2083 | + | 36amountoftaxcreditsallowedtoalltaxpayersunderthissectionshallnotexceedthe | |
| 2084 | + | 37totalcapamountwhichshallbeanamountequaltotwentypercentgreaterthanthe | |
| 2085 | + | 38highestannualamountoftaxcreditsredeemedinanyonepreviousfiscalyear,from | |
| 2086 | + | 39fiscalyear2018tofiscalyear2024,asdeterminedandcalculatedbythedepartment. | |
| 2087 | + | 40 (6)Iftheamountoftaxcreditsclaimedinataxyearunderthissectionexceeds | |
| 2088 | + | 41thetotalcapdeterminedundersubdivision(5)ofthissubsection,taxcreditsshallbe | |
| 2089 | + | 42allowedbasedontheorderinwhichtheyareclaimed. | |
| 2090 | + | 43 5.Pursuanttosection23.253oftheMissourisunsetact: | |
| 2091 | + | 44 (1)Theprogramauthorizedundersubsection4ofthissectionshallexpireonAugust | |
| 2092 | + | 4528,2028;and | |
| 2093 | + | 46 (2)Subsection4ofthissectionshallterminateonSeptember1,2029. | |
| 1769 | 2094 | 143.119.1.Aself-employedtaxpayer,assuchtermisusedinthefederalinternal | |
| 1770 | 2095 | 2revenuecode,whoisotherwiseineligibleforthefederalincometaxhealthinsurance | |
| 1771 | 2096 | 3deductionunderSection162ofthefederalinternalrevenuecodeshallbeentitledtoacredit | |
| 1772 | 2097 | 4againstthetaxotherwisedueunderthischapter,excludingwithholdingtaximposedby | |
| 1773 | 2098 | 5sections143.191to143.265,inanamountequaltotheportionofsuchtaxpayer'sfederaltax | |
| 1774 | 2099 | 6liabilityincurredduetosuchtaxpayer'sinclusionofsuchpaymentsinfederaladjustedgross | |
| 1775 | 2100 | 7income.Tobeeligibleforacreditunderthissection,theself-employedtaxpayershallhavea | |
| 1776 | 2101 | 8Missouriincometaxliability,beforeanyothertaxcredits,oflessthanthreethousanddollars. | |
| 1777 | 2102 | 9Thetaxcreditsauthorizedunderthissectionshallbenontransferable,nonrefundable,and | |
| 1778 | 2103 | 10shallnotbecarriedbackorforwardtoanyothertaxyear.Aself-employedtaxpayershallnot | |
| 1779 | 2104 | 11claimbothataxcreditunderthissectionandasubtractionundersection143.113forthesame | |
| 1780 | 2105 | 12taxyear. | |
| 1781 | - | 13 2.(1) | |
| 2106 | + | 13 2.(1)ForalltaxyearsbeginningonorafterJanuary1,2025,thecumulative | |
| 1782 | 2107 | 14amountoftaxcreditsallowedtoalltaxpayersunderthissectionshallnotexceedthe | |
| 1783 | 2108 | 15totalcapamountwhichshallbeanamountequaltotwentypercentgreaterthanthe | |
| 1784 | 2109 | 16highestannualamountoftaxcreditsredeemedinanyonepreviousfiscalyear,from | |
| 1785 | 2110 | 17fiscalyear2018tofiscalyear2024,asdeterminedandcalculatedbythedepartment. | |
| 1786 | - | 18 (2) | |
| 1787 | - | 19thetotalcapdeterminedundersubdivision( | |
| 2111 | + | 18 (2)Iftheamountoftaxcreditsclaimedinataxyearunderthissectionexceeds | |
| 2112 | + | 19thetotalcapdeterminedundersubdivision(2)ofthissubsection,taxcreditsshallbe | |
| 1788 | 2113 | 20allowedbasedontheorderinwhichtheyareclaimed. | |
| 1789 | - | ||
| 2114 | + | 21 [2.]3.Thedirectorofthedepartmentofrevenueshallpromulgaterulesand | |
| 1790 | 2115 | 22regulationstoadministertheprovisionsofthissection.Anyruleorportionofarule,asthat | |
| 1791 | 2116 | 23termisdefinedinsection536.010,thatiscreatedundertheauthoritydelegatedinthissection | |
| 1792 | 2117 | 24shallbecomeeffectiveonlyifitcomplieswithandissubjecttoalloftheprovisionsof | |
| 1793 | 2118 | 25chapter536and,ifapplicable,section536.028.Thissectionandchapter536are | |
| 1794 | - | 26nonseverableandifanyofthepowersvestedwiththegeneralassemblypursuanttochapter | |
| 2119 | + | HB2319 58 26nonseverableandifanyofthepowersvestedwiththegeneralassemblypursuanttochapter | |
| 1795 | 2120 | 27536toreview,todelaytheeffectivedate,ortodisapproveandannularulearesubsequently | |
| 1796 | 2121 | 28heldunconstitutional,thenthegrantofrulemakingauthorityandanyruleproposedor | |
| 1797 | 2122 | 29adoptedafterAugust28,2007,shallbeinvalidandvoid. | |
| 1798 | 2123 | 30 [3.]4.Pursuanttosection23.253oftheMissourisunsetact: | |
| 1799 | 2124 | 31 (1)TheprovisionsofthissectionshallsunsetautomaticallyonDecember31,2028, | |
| 1800 | 2125 | 32unlessreauthorizedbyanactofthegeneralassembly;and | |
| 1801 | 2126 | 33 (2)Ifsuchprogramisreauthorized,thissectionshallsunsetautomaticallyDecember | |
| 1802 | 2127 | 34thirty-firstsixyearsaftertheeffectivedateofthereauthorizationofthissection;and | |
| 1803 | 2128 | 35 (3)ThissectionshallterminateonSeptemberfirstofthecalendaryearimmediately | |
| 1804 | 2129 | 36followingthecalendaryearinwhichtheprogramauthorizedunderthissectionissunset;and | |
| 1805 | 2130 | 37 (4)Theprovisionsofthissubsectionshallnotbeconstruedtolimitorinanyway | |
| 1806 | 2131 | 38impairthedepartment'sabilitytoredeemtaxcreditsauthorizedonorbeforethedatethe | |
| 1807 | 2132 | 39programauthorizedpursuanttothissectionexpires,orataxpayer'sabilitytoredeemsuchtax | |
| 1808 | 2133 | 40credits. | |
| 1809 | 2134 | 143.177.1.Thissectionshallbeknownandmaybecitedasthe"MissouriWorking | |
| 1810 | 2135 | 2FamilyTaxCreditAct". | |
| 1811 | 2136 | 3 2.Forpurposesofthissection,thefollowingtermsshallmean: | |
| 1812 | 2137 | 4 (1)"Department",thedepartmentofrevenue; | |
| 1813 | 2138 | 5 (2)"Eligibletaxpayer",aresidentindividualwithafilingstatusofsingle,headof | |
| 1814 | 2139 | 6household,widowed,ormarriedfilingcombinedwhoissubjecttothetaximposedunderthis | |
| 1815 | 2140 | 7chapter,excludingwithholdingtaximposedundersections143.191to143.265,andwhois | |
| 1816 | 2141 | 8allowedafederalearnedincometaxcreditunder26U.S.C.Section32,asamended; | |
| 1817 | 2142 | 9 (3)"Taxcredit",acreditagainstthetaxotherwisedueunderthischapter,excluding | |
| 1818 | 2143 | 10withholdingtaximposedundersections143.191to143.265. | |
| 1819 | 2144 | 11 3.(1)Beginningwiththe2023calendaryear,aneligibletaxpayershallbealloweda | |
| 1820 | 2145 | 12taxcreditinanamountequaltoapercentageoftheamountsuchtaxpayerwouldreceive | |
| 1821 | 2146 | 13underthefederalearnedincometaxcreditassuchcreditexistedunder26U.S.C.Section32 | |
| 1822 | 2147 | 14asofJanuary1,2021,asprovidedpursuanttosubdivision(2)ofthissubsection.Thetax | |
| 1823 | 2148 | 15creditallowedbythissectionshallbeclaimedbysuchtaxpayeratthetimesuchtaxpayerfiles | |
| 1824 | 2149 | 16areturnandshallbeappliedagainsttheincometaxliabilityimposedbythischapterafter | |
| 1825 | 2150 | 17reductionforallothercreditsallowedthereon.Iftheamountofthecreditexceedsthetax | |
| 1826 | - | ||
| 2151 | + | 18liability,thedifferenceshallnotberefundedtothetaxpayerandshallnotbecarriedforward | |
| 1827 | 2152 | 19toanysubsequenttaxyear. | |
| 1828 | 2153 | 20 (2)Subjecttotheprovisionsofsubdivision(3)ofthissubsection,thepercentageof | |
| 1829 | 2154 | 21thefederalearnedincometaxcredittobeallowedasataxcreditpursuanttosubdivision(1) | |
| 1830 | 2155 | 22ofthissubsectionshallbetenpercent,whichmaybeincreasedtotwentypercentsubjectto | |
| 1831 | - | 23theprovisionsofsubdivision(3)ofthissubsection.Themaximumpercentagethatmaybe | |
| 2156 | + | HB2319 59 23theprovisionsofsubdivision(3)ofthissubsection.Themaximumpercentagethatmaybe | |
| 1832 | 2157 | 24claimedasataxcreditpursuanttothissectionshallbetwentypercentofthefederalearned | |
| 1833 | 2158 | 25incometaxcreditthatmaybeclaimedbysuchtaxpayer.Anyincreaseinthepercentagethat | |
| 1834 | 2159 | 26maybeclaimedasataxcreditshalltakeeffectonJanuaryfirstofacalendaryearandsuch | |
| 1835 | 2160 | 27percentageshallcontinueineffectuntilthenextpercentageincreaseoccurs.Anincrease | |
| 1836 | 2161 | 28shallonlyapplytotaxyearsthatbeginonoraftertheincreasetakeseffect. | |
| 1837 | 2162 | 29 (3)Theinitialpercentagetobeclaimedasataxcreditandanyincreaseinthe | |
| 1838 | 2163 | 30percentagethatmaybeclaimedpursuanttosubdivision(2)ofthissubsectionshallonlyoccur | |
| 1839 | 2164 | 31iftheamountofnetgeneralrevenuecollectedinthepreviousfiscalyearexceedsthehighest | |
| 1840 | 2165 | 32amountofnetgeneralrevenuecollectedinanyofthethreefiscalyearspriortosuchfiscal | |
| 1841 | 2166 | 33yearbyatleastonehundredfiftymilliondollars. | |
| 1842 | - | 34 (4) | |
| 2167 | + | 34 (4)ForalltaxyearsbeginningonorafterJanuary1,2025,thecumulative | |
| 1843 | 2168 | 35amountoftaxcreditsallowedtoalltaxpayersunderthissectionshallnotexceedthe | |
| 1844 | 2169 | 36totalcapamountwhichshallbeanamountequaltotwentypercentgreaterthanthe | |
| 1845 | 2170 | 37highestannualamountoftaxcreditsredeemedinanyonepreviousfiscalyear,from | |
| 1846 | - | ||
| 1847 | - | 39 (5) | |
| 1848 | - | ||
| 1849 | - | ||
| 2171 | + | 38fiscalyear2018tofiscalyear2024,asdeterminedandcalculatedbythedepartment. | |
| 2172 | + | 39 (5)Iftheamountoftaxcreditsclaimedinataxyearunderthissectionexceeds | |
| 2173 | + | 40thetotalcapdeterminedundersubdivision(4)ofthissubsection,taxcreditsshallbe | |
| 2174 | + | 41allowedbasedontheorderinwhichtheyareclaimed. | |
| 1850 | 2175 | 42 4.Notwithstandingtheprovisionsofsection32.057tothecontrary,thedepartment | |
| 1851 | 2176 | 43shalldeterminewhetheranytaxpayerfilingareportorreturnwiththedepartmentwhodidnot | |
| 1852 | 2177 | 44applyforthecreditauthorizedunderthissectionmayqualifyforthecreditand,ifso, | |
| 1853 | 2178 | 45determinesataxpayermayqualifyforthecredit,shallnotifysuchtaxpayerofhisorher | |
| 1854 | 2179 | 46potentialeligibility.Inmakingadeterminationofeligibilityunderthissection,the | |
| 1855 | 2180 | 47departmentshalluseanyappropriateandavailabledataincluding,butnotlimitedto,data | |
| 1856 | 2181 | 48availablefromtheInternalRevenueService,theU.S.DepartmentofTreasury,andstate | |
| 1857 | 2182 | 49incometaxreturnsfromprevioustaxyears. | |
| 1858 | 2183 | 50 5.Thedepartmentshallprepareanannualreportcontainingstatisticalinformation | |
| 1859 | 2184 | 51regardingthetaxcreditsissuedunderthissectionfortheprevioustaxyear,includingthetotal | |
| 1860 | 2185 | 52amountofrevenueexpended,thenumberofcreditsclaimed,andtheaveragevalueofthe | |
| 1861 | 2186 | 53creditsissuedtotaxpayerswhoseearnedincomefallswithinvariousincomeranges | |
| 1862 | 2187 | 54determinedbythedepartment. | |
| 1863 | - | ||
| 2188 | + | 55 6.Thedirectorofthedepartmentmaypromulgaterulesandregulationstoadminister | |
| 1864 | 2189 | 56theprovisionsofthissection.Anyruleorportionofarule,asthattermisdefinedinsection | |
| 1865 | 2190 | 57536.010,thatiscreatedundertheauthoritydelegatedinthissectionshallbecomeeffective | |
| 1866 | 2191 | 58onlyifitcomplieswithandissubjecttoalloftheprovisionsofchapter536and,ifapplicable, | |
| 1867 | 2192 | 59section536.028.Thissectionandchapter536arenonseverableandifanyofthepowers | |
| 1868 | - | 60vestedwiththegeneralassemblypursuanttochapter536toreview,todelaytheeffective | |
| 2193 | + | HB2319 60 60vestedwiththegeneralassemblypursuanttochapter536toreview,todelaytheeffective | |
| 1869 | 2194 | 61date,ortodisapproveandannularulearesubsequentlyheldunconstitutional,thenthegrant | |
| 1870 | 2195 | 62ofrulemakingauthorityandanyruleproposedoradoptedafterJanuary1,2023,shallbe | |
| 1871 | 2196 | 63invalidandvoid. | |
| 1872 | 2197 | 64 7.Taxcreditsauthorizedunderthissectionshallnotbesubjecttotherequirementsof | |
| 1873 | 2198 | 65sections135.800to135.830. | |
| 1874 | 2199 | 66 8.Undersection23.253oftheMissourisunsetact: | |
| 1875 | 2200 | 67 (1)Theprovisionsoftheprogramauthorizedunderthissectionshall | |
| 1876 | - | 68automaticallysunsetonDecember31, | |
| 2201 | + | 68automaticallysunsetonDecember31,2030,unlessreauthorizedbyanactofthe | |
| 1877 | 2202 | 69generalassembly; | |
| 1878 | 2203 | 70 (2)Ifsuchprogramisreauthorized,theprogramauthorizedunderthissection | |
| 1879 | - | ||
| 1880 | - | ||
| 2204 | + | 71shallautomaticallysunsetonDecemberthirty-first,sixyearsaftertheeffectivedateof | |
| 2205 | + | 72thereauthorizationofthissection; | |
| 1881 | 2206 | 73 (3)ThissectionshallterminateonSeptemberfirstofthecalendaryear | |
| 1882 | 2207 | 74immediatelyfollowingthecalendaryearinwhichtheprogramauthorizedunderthis | |
| 1883 | 2208 | 75sectionissunset;and | |
| 1884 | 2209 | 76 (4)Theprovisionsofthissubsectionshallnotbeconstruedtolimitorinanyway | |
| 1885 | 2210 | 77impairataxpayer'sabilitytoredeemtaxcreditsauthorizedonorbeforethedatethe | |
| 1886 | 2211 | 78programauthorizedunderthissectionexpires. | |
| 1887 | 2212 | 143.471.1.AnScorporation,asdefinedbySection1361(a)(1)oftheInternal | |
| 1888 | 2213 | 2RevenueCode,shallnotbesubjecttothetaxesimposedbysection143.071,orothersections | |
| 1889 | 2214 | 3imposingincometaxoncorporations. | |
| 1890 | 2215 | 4 2.AshareholderofanScorporationshalldeterminesuchshareholder'sScorporation | |
| 1891 | 2216 | 5modificationandproratashare,includingitscharacter,byapplyingthefollowing: | |
| 1892 | 2217 | 6 (1)Anymodificationdescribedinsections143.121and143.141whichrelatestoan | |
| 1893 | 2218 | 7itemofScorporationincome,gain,loss,ordeductionshallbemadeinaccordancewiththe | |
| 1894 | 2219 | 8shareholder'sproratashare,forfederalincometaxpurposes,oftheitemtowhichthe | |
| 1895 | 2220 | 9modificationrelates.Whereashareholder'sproratashareofanysuchitemisnotrequiredto | |
| 1896 | 2221 | 10betakenintoaccountseparatelyforfederalincometaxpurposes,theshareholder'sprorata | |
| 1897 | 2222 | 11shareofsuchitemshallbedeterminedinaccordancewithhisproratashare,forfederal | |
| 1898 | 2223 | 12incometaxpurposes,ofScorporationtaxableincomeorlossgenerally; | |
| 1899 | - | ||
| 2224 | + | 13 (2)EachitemofScorporationincome,gain,loss,ordeductionshallhavethesame | |
| 1900 | 2225 | 14characterforashareholderpursuanttosections143.005to143.998asithasforfederal | |
| 1901 | 2226 | 15incometaxpurposes.Whereanitemisnotcharacterizedforfederalincometaxpurposes,it | |
| 1902 | 2227 | 16shallhavethesamecharacterforashareholderasifrealizeddirectlyfromthesourcefrom | |
| 1903 | 2228 | 17whichrealizedbytheScorporationorincurredinthesamemannerasincurredbytheS | |
| 1904 | 2229 | 18corporation. | |
| 1905 | - | 19 3.AnonresidentshareholderofanScorporationshalldeterminesuchshareholder's | |
| 2230 | + | HB2319 61 19 3.AnonresidentshareholderofanScorporationshalldeterminesuchshareholder's | |
| 1906 | 2231 | 20Missourinonresidentadjustedgrossincomeandhisorhernonresidentshareholder | |
| 1907 | 2232 | 21modificationbyapplyingtheprovisionsofthissubsection.Itemsshallbedeterminedto | |
| 1908 | 2233 | 22befromsourceswithinthisstatepursuanttoregulationsofthedirectorofrevenueinamanner | |
| 1909 | 2234 | 23consistentwiththedivisionofincomeprovisionsofsection143.451,section143.461,or | |
| 1910 | 2235 | 24section32.200(MultistateTaxCompact).Indeterminingtheadjustedgrossincomeofa | |
| 1911 | 2236 | 25nonresidentshareholderofanyScorporation,thereshallbeincludedonlythatpartderived | |
| 1912 | 2237 | 26fromorconnectedwithsourcesinthisstateoftheshareholder'sproratashareofitemsofS | |
| 1913 | 2238 | 27corporationincome,gain,lossordeductionenteringintoshareholder'sfederaladjustedgross | |
| 1914 | 2239 | 28income,assuchpartisdeterminedpursuanttoregulationsprescribedbythedirectorof | |
| 1915 | 2240 | 29revenueinaccordancewiththegeneralrulesinsection143.181.Anymodificationdescribed | |
| 1916 | 2241 | 30insubsections2and3ofsection143.121andinsection143.141,whichrelatestoanitemofS | |
| 1917 | 2242 | 31corporationincome,gain,loss,ordeductionshallbemadeinaccordancewiththe | |
| 1918 | 2243 | 32shareholder'sproratashare,forfederalincometaxpurposes,oftheitemtowhichthe | |
| 1919 | 2244 | 33modificationrelates,butlimitedtotheportionofsuchitemderivedfromorconnectedwith | |
| 1920 | 2245 | 34sourcesinthisstate. | |
| 1921 | 2246 | 35 4.Notwithstandingsubsection3ofthissectiontothecontrary,foralltaxyears | |
| 1922 | 2247 | 36beginningonorafterJanuary1,2020,theitemsreferredtointhatsubsectionshallbe | |
| 1923 | 2248 | 37determinedtobefromsourceswithinthisstatepursuanttoregulationsofthedirectorof | |
| 1924 | 2249 | 38revenueinamannerconsistentwiththedivisionofincomeprovisionsofsection143.455and | |
| 1925 | 2250 | 39section143.461. | |
| 1926 | 2251 | 40 5.ThedirectorofrevenueshallpermitScorporationstofilecompositereturnsandto | |
| 1927 | 2252 | 41makecompositepaymentsoftaxonbehalfofitsnonresidentshareholdersnototherwise | |
| 1928 | 2253 | 42requiredtofileareturn.Ifthenonresidentshareholder'sfilingrequirementsresultsolely | |
| 1929 | 2254 | 43fromoneormoreinterestsinanyotherpartnershipsorsubchapterScorporations,that | |
| 1930 | 2255 | 44nonresidentshareholdermaybeincludedinthecompositereturn. | |
| 1931 | 2256 | 45 6.IfanScorporationpaysorcreditsamountstoanyofitsnonresidentindividual | |
| 1932 | 2257 | 46shareholdersasdividendsorastheirshareoftheScorporation'sundistributedtaxableincome | |
| 1933 | 2258 | 47forthe[taxable] taxyear,theScorporationshalleithertimelyfilewiththedepartmentof | |
| 1934 | 2259 | 48revenueanagreementasprovidedinsubsection7ofthissectionorwithholdMissouriincome | |
| 1935 | 2260 | 49taxasprovidedinsubsection8ofthissection.AnScorporationthattimelyfilesan | |
| 1936 | - | ||
| 2261 | + | 50agreementasprovidedinsubsection7ofthissectionwithrespecttoanonresident | |
| 1937 | 2262 | 51shareholderfora[taxable] taxyearshallbeconsideredtohavetimelyfiledsuchan | |
| 1938 | 2263 | 52agreementforeachsubsequent[taxable] taxyear.AnScorporationthatdoesnottimelyfile | |
| 1939 | 2264 | 53suchanagreementfora[taxable] taxyearshallnotbeprecludedfromtimelyfilingsuchan | |
| 1940 | 2265 | 54agreementforsubsequent[taxable] taxyears.AnScorporationisnotrequiredtodeductand | |
| 1941 | 2266 | 55withholdMissouriincometaxforanonresidentshareholderif: | |
| 1942 | - | 56 (1)Thenonresidentshareholdernototherwiserequiredtofileareturnagreestohave | |
| 2267 | + | HB2319 62 56 (1)Thenonresidentshareholdernototherwiserequiredtofileareturnagreestohave | |
| 1943 | 2268 | 57theMissouriincometaxduepaidaspartoftheScorporation'scompositereturn; | |
| 1944 | 2269 | 58 (2)ThenonresidentshareholdernototherwiserequiredtofileareturnhadMissouri | |
| 1945 | 2270 | 59assignablefederaladjustedgrossincomefromtheScorporationoflessthantwelvehundred | |
| 1946 | 2271 | 60dollars; | |
| 1947 | 2272 | 61 (3)TheScorporationisliquidatedorterminated; | |
| 1948 | 2273 | 62 (4)Incomewasgeneratedbyatransactionrelatedtoterminationorliquidation;or | |
| 1949 | 2274 | 63 (5)Nocashorotherpropertywasdistributedinthecurrentandprior[taxable] tax | |
| 1950 | 2275 | 64year. | |
| 1951 | 2276 | 65 7.Theagreementreferredtoinsubdivision(1)ofsubsection6ofthissectionisan | |
| 1952 | 2277 | 66agreementofanonresidentshareholderoftheScorporationto: | |
| 1953 | 2278 | 67 (1)Fileareturninaccordancewiththeprovisionsofsection143.481andtomake | |
| 1954 | 2279 | 68timelypaymentofalltaxesimposedontheshareholderbythisstatewithrespecttoincomeof | |
| 1955 | 2280 | 69theScorporation;and | |
| 1956 | 2281 | 70 (2)Besubjecttopersonaljurisdictioninthisstateforpurposesofthecollectionof | |
| 1957 | 2282 | 71incometaxes,togetherwithrelatedinterestandpenalties,imposedontheshareholderbythis | |
| 1958 | 2283 | 72statewithrespecttotheincomeoftheScorporation. | |
| 1959 | 2284 | 73 | |
| 1960 | 2285 | 74Theagreementwillbeconsideredtimelyfiledfora[taxable] taxyear,andforallsubsequent | |
| 1961 | 2286 | 75[taxable] taxyears,ifitisfiledatorbeforethetimetheannualreturnforsuch[taxable] tax | |
| 1962 | 2287 | 76yearisrequiredtobefiledpursuanttosection143.511. | |
| 1963 | 2288 | 77 8.TheamountofMissouriincometaxtobewithheldisdeterminedbymultiplying | |
| 1964 | 2289 | 78theamountofdividendsorundistributedincomeallocabletoMissourithatispaidorcredited | |
| 1965 | 2290 | 79toanonresidentshareholderduringthe[taxable] taxyearbythehighestrateusedto | |
| 1966 | 2291 | 80determineaMissouriincometaxliabilityforanindividual,exceptthattheamountofthetax | |
| 1967 | 2292 | 81withheldmaybedeterminedbasedonwithholdingtablesprovidedbythedirectorofrevenue | |
| 1968 | 2293 | 82iftheshareholdersubmitsaMissouriwithholdingallowancecertificate. | |
| 1969 | 2294 | 83 9.AnScorporationshallbeentitledtorecoverforashareholderonwhosebehalfa | |
| 1970 | 2295 | 84taxpaymentwasmadepursuanttothissection,ifsuchshareholderhasnotaxliability. | |
| 1971 | 2296 | 85 10.WithrespecttoScorporationsthatarebanksorbankholdingcompanies,apro | |
| 1972 | 2297 | 86ratashareofthetaxcreditforthetaxpayablepursuanttochapter148shallbeallowedagainst | |
| 1973 | - | ||
| 2298 | + | 87eachScorporationshareholders'stateincometaxasfollows,providedthebankotherwise | |
| 1974 | 2299 | 88complieswithsection148.112: | |
| 1975 | 2300 | 89 (1)Thecreditallowedbythissubsectionshallbeequaltothebanktaxcalculated | |
| 1976 | 2301 | 90pursuanttochapter148basedonbankincomein1999andafter,onabankthatmakesan | |
| 1977 | 2302 | 91electionpursuantto26U.S.C.Section1362,andsuchcreditshallbeallocatedtothe | |
| 1978 | 2303 | 92qualifyingshareholderaccordingtostockownership,determinedbymultiplyingafraction, | |
| 1979 | - | 93wherethenumeratoristheshareholder'sstock,andthedenominatoristhetotalstockissued | |
| 2304 | + | HB2319 63 93wherethenumeratoristheshareholder'sstock,andthedenominatoristhetotalstockissued | |
| 1980 | 2305 | 94bysuchbankorbankholdingcompany; | |
| 1981 | 2306 | 95 (2)Thetaxcreditauthorizedinthissubsectionshallbepermittedonlytothe | |
| 1982 | 2307 | 96shareholdersthatqualifyasScorporationshareholders,providedthestockatalltimesduring | |
| 1983 | 2308 | 97thetaxableperiodqualifiesasScorporationstockasdefinedin26U.S.C.Section1361,and | |
| 1984 | 2309 | 98suchstockisheldbytheshareholderduringthetaxableperiod.Thecreditcreatedbythis | |
| 1985 | 2310 | 99sectiononayearlybasisisavailabletoeachqualifyingshareholder,includingshareholders | |
| 1986 | 2311 | 100filingjointreturns.Abankholdingcompanyisnotallowedthiscredit,exceptthat,such | |
| 1987 | 2312 | 101creditshallflowthroughtosuchbankholdingcompany'squalifiedshareholders,andbe | |
| 1988 | 2313 | 102allocatedtosuchshareholdersunderthesameconditions;and | |
| 1989 | 2314 | 103 (3)Intheeventsuchshareholdercannotuseallorpartofthetaxcreditinthetaxable | |
| 1990 | 2315 | 104periodofreceipt,suchshareholdermaycarryforwardsuchtaxcreditforaperiodofthelesser | |
| 1991 | 2316 | 105offiveyearsoruntilused,providedsuchcreditsareusedassoonasthetaxpayerhasMissouri | |
| 1992 | 2317 | 106taxableincome. | |
| 1993 | 2318 | 107 11.WithrespecttoScorporationsthatareassociations,aproratashareofthetax | |
| 1994 | 2319 | 108creditforthetaxpayableunderchapter148shallbeallowedagainsteachScorporation | |
| 1995 | 2320 | 109shareholders'stateincometaxasfollows,providedtheassociationotherwisecomplieswith | |
| 1996 | 2321 | 110section148.655: | |
| 1997 | 2322 | 111 (1)Thecreditallowedbythissubsectionshallbeequaltothesavingsandloan | |
| 1998 | 2323 | 112associationtaxcalculatedunderchapter148basedonthecomputationsprovidedinsection | |
| 1999 | 2324 | 113148.630onanassociationthatmakesanelectionunder26U.S.C.Section1362,andsuch | |
| 2000 | 2325 | 114creditshallbeallocatedtothequalifyingshareholderaccordingtostockownership, | |
| 2001 | 2326 | 115determinedbymultiplyingafraction,wherethenumeratoristheshareholder'sstock,andthe | |
| 2002 | 2327 | 116denominatoristhetotalstockissuedbytheassociation; | |
| 2003 | 2328 | 117 (2)Thetaxcreditauthorizedinthissubsectionshallbepermittedonlytothe | |
| 2004 | 2329 | 118shareholdersthatqualifyasScorporationshareholders,providedthestockatalltimesduring | |
| 2005 | 2330 | 119thetaxableperiodqualifiesasScorporationstockasdefinedin26U.S.C.Section1361,and | |
| 2006 | 2331 | 120suchstockisheldbytheshareholderduringthetaxableperiod.Thecreditcreatedbythis | |
| 2007 | 2332 | 121sectiononayearlybasisisavailabletoeachqualifyingshareholder,includingshareholders | |
| 2008 | 2333 | 122filingjointreturns.Asavingsandloanassociationholdingcompanyisnotallowedthis | |
| 2009 | 2334 | 123credit,exceptthat,suchcreditshallflowthroughtosuchsavingsandloanassociationholding | |
| 2010 | - | ||
| 2335 | + | 124company'squalifiedshareholders,andbeallocatedtosuchshareholdersunderthesame | |
| 2011 | 2336 | 125conditions;and | |
| 2012 | 2337 | 126 (3)Intheeventsuchshareholdercannotuseallorpartofthetaxcreditinthetaxable | |
| 2013 | 2338 | 127periodofreceipt,suchshareholdermaycarryforwardsuchtaxcreditforaperiodofthelesser | |
| 2014 | 2339 | 128offiveyearsoruntilused,providedsuchcreditsareusedassoonasthetaxpayerhasMissouri | |
| 2015 | 2340 | 129taxableincome. | |
| 2016 | - | 130 12.WithrespecttoScorporationsthatarecreditinstitutions,aproratashareofthe | |
| 2341 | + | HB2319 64 130 12.WithrespecttoScorporationsthatarecreditinstitutions,aproratashareofthe | |
| 2017 | 2342 | 131taxcreditforthetaxpayableunderchapter148shallbeallowedagainsteachScorporation | |
| 2018 | 2343 | 132shareholders'stateincometaxasfollows,providedthecreditinstitutionotherwisecomplies | |
| 2019 | 2344 | 133withsection148.657: | |
| 2020 | 2345 | 134 (1)Thecreditallowedbythissubsectionshallbeequaltothecreditinstitutiontax | |
| 2021 | 2346 | 135calculatedunderchapter148basedonthecomputationsprovidedinsection148.150ona | |
| 2022 | 2347 | 136creditinstitutionthatmakesanelectionunder26U.S.C.Section1362,andsuchcreditshall | |
| 2023 | 2348 | 137beallocatedtothequalifyingshareholderaccordingtostockownership,determinedby | |
| 2024 | 2349 | 138multiplyingafraction,wherethenumeratoristheshareholder'sstock,andthedenominatoris | |
| 2025 | 2350 | 139thetotalstockissuedbysuchcreditinstitution; | |
| 2026 | 2351 | 140 (2)Thetaxcreditauthorizedinthissubsectionshallbepermittedonlytothe | |
| 2027 | 2352 | 141shareholdersthatqualifyasScorporationshareholders,providedthestockatalltimesduring | |
| 2028 | 2353 | 142thetaxableperiodqualifiesasScorporationstockasdefinedin26U.S.C.Section1361,and | |
| 2029 | 2354 | 143suchstockisheldbytheshareholderduringthetaxableperiod.Thecreditcreatedbythis | |
| 2030 | 2355 | 144sectiononayearlybasisisavailabletoeachqualifyingshareholder,includingshareholders | |
| 2031 | 2356 | 145filingjointreturns.Acreditinstitutionholdingcompanyisnotallowedthiscredit,except | |
| 2032 | 2357 | 146that,suchcreditshallflowthroughtosuchcreditinstitutionholdingcompany'squalified | |
| 2033 | 2358 | 147shareholders,andbeallocatedtosuchshareholdersunderthesameconditions;and | |
| 2034 | 2359 | 148 (3)Intheeventsuchshareholdercannotuseallorpartofthetaxcreditinthetaxable | |
| 2035 | 2360 | 149periodofreceipt,suchshareholdermaycarryforwardsuchtaxcreditforaperiodofthelesser | |
| 2036 | 2361 | 150offiveyearsoruntilused,providedsuchcreditsareusedassoonasthetaxpayerhasMissouri | |
| 2037 | 2362 | 151taxableincome. | |
| 2038 | - | 152 13.(1)ForallfiscalyearsbeginningonorafterJuly1,2025,thecumulative | |
| 2039 | - | 153amountoftaxcreditsallowedtoalltaxpayersundersubsections10,11,and12ofthis | |
| 2040 | - | 154sectionshallnotexceedthetotalcapamountwhichshallbeanamountequaltotwenty | |
| 2041 | - | 155percentgreaterthanthehighestannualamountoftaxcreditsredeemedinanyone | |
| 2042 | - | 156previousfiscalyear,fromfiscalyear2018tofiscalyear2024,asdeterminedand | |
| 2043 | - | 157calculatedbythedepartment. | |
| 2044 | - | 158 (2)Iftheamountoftaxcreditsclaimedinafiscalyearundersubsections10,11, | |
| 2045 | - | 159and12ofthissectionexceedsthetotalcapdeterminedundersubdivision(1)ofthis | |
| 2046 | - | 160subsection,taxcreditsshallbeallowedbasedontheorderinwhichtheyareclaimed. | |
| 2047 | - | HCSHB2319 56 161 14.Undersection23.253oftheMissourisunsetact: | |
| 2048 | - | 162 (1)Theprovisionsofthetaxcreditprogramsauthorizedundersubsections10, | |
| 2049 | - | 16311,and12ofthissectionshallautomaticallysunsetonAugust28,2030,unless | |
| 2050 | - | 164reauthorizedbyanactofthegeneralassembly; | |
| 2051 | - | 165 (2)Ifsuchprogramsarereauthorized,thetaxcreditprogramsauthorizedunder | |
| 2052 | - | 166subsections10,11,and12ofthissectionshallautomaticallysunsetsixyearsafterthe | |
| 2053 | - | 167effectivedateofthereauthorizationofthissection; | |
| 2054 | - | 168 (3)Theprovisionsofthetaxcreditprogramsauthorizedundersubsections10, | |
| 2055 | - | 16911,and12ofthissectionshallterminateonSeptemberfirstofthecalendaryear | |
| 2056 | - | 170immediatelyfollowingthecalendaryearinwhichtheprogramsauthorizedunder | |
| 2057 | - | 171subsections10,11,and12ofthissectionaresunset;and | |
| 2058 | - | 172 (4)Theprovisionsofthissubsectionshallnotbeconstruedtolimitorinanyway | |
| 2059 | - | 173impairataxpayer'sabilitytoredeemtaxcreditsauthorizedonorbeforethedatethe | |
| 2060 | - | 174programsauthorizedunderthissectionexpire. | |
| 2061 | - | 148.064.1.Notwithstandinganylawtothecontrary,thissectionshalldeterminethe | |
| 2062 | - | 2orderingandlimitreductionsforcertaintaxesandtaxcreditswhichmaybeusedascredits | |
| 2063 | - | 3againstvarioustaxespaidorpayablebybankinginstitutions.Exceptasadjustedin | |
| 2064 | - | 4subsections2,3and6ofthissection,suchcreditsshallbeappliedinthefollowingorderuntil | |
| 2065 | - | 5usedagainst: | |
| 2066 | - | 6 (1)Thetaxonbanksdeterminedundersubdivision(2)ofsubsection2ofsection | |
| 2067 | - | 7148.030; | |
| 2068 | - | 8 (2)Thetaxonbanksdeterminedundersubdivision(1)ofsubsection2ofsection | |
| 2069 | - | 9148.030; | |
| 2070 | - | 10 (3)Thestateincometaxinsection143.071. | |
| 2071 | - | 11 2.Thetaxcreditspermittedagainsttaxespayablepursuanttosubdivision(2)of | |
| 2072 | - | 12subsection2ofsection148.030shallbeutilizedfirstandincludetaxesreferencedin | |
| 2073 | - | 13subdivisions(2)and(3)ofsubsection1ofthissection,whichshallbedeterminedwithout | |
| 2074 | - | 14reductionforanytaxcreditsidentifiedinsubsection5ofthissectionwhichareusedtoreduce | |
| 2075 | - | 15suchtaxes.Whereabankinginstitutionsubjecttothissectionjoinsinthefilingofa | |
| 2076 | - | 16consolidatedstateincometaxreturnunderchapter143,thecreditallowedunderthissection | |
| 2077 | - | 17forstateincometaxespayableunderchapter143shallbedeterminedbaseduponthe | |
| 2078 | - | 18consolidatedstateincometaxliabilityofthegroupandallocatedtoabankinginstitution, | |
| 2079 | - | 19withoutreductionforanytaxcreditsidentifiedinsubsection5ofthissectionwhichareused | |
| 2080 | - | 20toreducesuchconsolidatedtaxesasprovidedinchapter143. | |
| 2081 | - | 21 3.Thetaxesreferencedinsubdivisions(2)and(3)ofsubsection1ofthissectionmay | |
| 2082 | - | 22bereducedbythetaxcreditsinsubsection5ofthissectionwithoutregardtoanyadjustments | |
| 2083 | - | 23insubsection2ofthissection. | |
| 2084 | - | HCSHB2319 57 24 4.Totheextentthatcertaintaxcreditswhichthetaxpayerisentitledtoclaimare | |
| 2085 | - | 25transferable,suchtransferabilitymayincludetransfersamongsuchtaxpayerswhoare | |
| 2086 | - | 26membersofasingleconsolidatedincometaxreturn,andthissubsectionshallnotimpact | |
| 2087 | - | 27othertaxcredittransferability. | |
| 2088 | - | 28 5.Forthepurposeofthissection,thetaxcreditsreferredtoinsubsections2and3 | |
| 2089 | - | 29shallincludetaxcreditsavailableforeconomicdevelopment,low-incomehousingand | |
| 2090 | - | 30neighborhoodassistancewhichthetaxpayerisentitledtoclaimfortheyear,includingbyway | |
| 2091 | - | 31ofexampleandnotoflimitation,taxcreditspursuanttothefollowingsections:section | |
| 2092 | - | 3232.115,section100.286,andsections135.110,135.225,and135.352[and135.403]. | |
| 2093 | - | 33 6.FortaxreturnsfiledonorafterJanuary1,2001,includingreturnsbasedonincome | |
| 2094 | - | 34intheyear2000,andafter,abankinginstitutionshallbeentitledtoanannualtaxcreditequal | |
| 2095 | - | 35toone-sixtiethofonepercentofitsoutstandingsharesandsurplusemployedinthisstateif | |
| 2096 | - | 36theoutstandingsharesandsurplusexceedonemilliondollars,determinedinthesamemanner | |
| 2097 | - | 37asinsection147.010.Thistaxcreditshallbetakenasadollar-for-dollarcreditagainstthe | |
| 2098 | - | 38banktaxprovidedforinsubdivision(2)ofsubsection2ofsection148.030;ifsuchbanktax | |
| 2099 | - | 39wasalreadyreducedtozerobyothercredits,thenagainstthecorporateincometaxprovided | |
| 2100 | - | 40forinchapter143.ForalltaxyearsbeginningonorafterJanuary1,2020,notaxcreditshall | |
| 2101 | - | 41beauthorizedunderthissubsection. | |
| 2102 | - | 42 7.Intheeventthecorporationfranchisetaxinchapter147isrepealedbythegeneral | |
| 2103 | - | 43assembly,thereshallalsobeareductioninthetaxationofbanksasfollows:inlieuoftheloss | |
| 2104 | - | 44ofthecorporationfranchisetaxcreditreductioninsubdivision(1)ofsubsection2ofsection | |
| 2105 | - | 45148.030,thebankshallreceiveataxcreditequaltooneandone-halfpercentofnetincomeas | |
| 2106 | - | 46determinedinthischapter.Thissubsectionshalltakeeffectatthesametimethecorporation | |
| 2107 | - | 47franchisetaxinchapter147isrepealed. | |
| 2108 | - | 48 8.AnScorporationbankorbankholdingcompanythatotherwisequalifiesto | |
| 2109 | - | 49distributetaxcreditstoitsshareholdersshallpassthroughanytaxcreditsreferredtoin | |
| 2110 | - | 50subsection5ofthissectiontoitsshareholdersasotherwiseprovidedforinsubsection10of | |
| 2111 | - | 51section143.471withnoreductionsorlimitationsresultingfromthetransferthroughsuchS | |
| 2112 | - | 52corporation,andonthesametermsoriginallymadeavailabletotheoriginaltaxpayer,subject | |
| 2113 | - | 53toanyoriginaldollarorpercentagelimitationsonsuchcredits,andwhensuchScorporation | |
| 2114 | - | 54istheoriginaltaxpayer,treatingsuchScorporationashavingnotelectedSubchapterSstatus. | |
| 2115 | - | 55 9.Notwithstandinganylawtothecontrary,intheeventthecorporationfranchisetax | |
| 2116 | - | 56inchapter147isrepealedbythegeneralassembly,aftersuchrepealallMissouritaxesofany | |
| 2117 | - | 57natureandtypeimposeddirectlyorusedasataxcreditagainstthebank'staxesshallbe | |
| 2118 | - | 58passedthroughtotheScorporationbankorbankholdingcompanyshareholderintheform | |
| 2119 | - | 59otherwisepermittedbylaw,exceptforthefollowing: | |
| 2120 | - | HCSHB2319 58 60 (1)Creditsfortaxesonrealestateandtangiblepersonalpropertyownedbythebank | |
| 2121 | - | 61andheldforleaseorrentaltoothers; | |
| 2122 | - | 62 (2)Contributionspaidpursuanttotheunemploymentcompensationtaxlawof | |
| 2123 | - | 63Missouri;or | |
| 2124 | - | 64 (3)Stateandlocalsalesandusetaxescollectedbythebankonitssalesoftangible | |
| 2125 | - | 65personalpropertyandtheservicesenumeratedinchapter144. | |
| 2126 | - | 148.330.1.Everysuchcompanyshall,onorbeforethefirstdayofMarchineach | |
| 2127 | - | 2year,makeareturn,verifiedbytheaffidavitofitspresidentandsecretary,orotherauthorized | |
| 2128 | - | 3officers,tothedirectorofthedepartmentofcommerceandinsurancestatingtheamountofall | |
| 2129 | - | 4premiumsreceivedonaccountofpoliciesissuedinthisstatebythecompany,whetherincash | |
| 2130 | - | 5orinnotes,duringtheyearendingonthethirty-firstdayofDecember,nextpreceding.Upon | |
| 2131 | - | 6receiptofsuchreturnsthedirectorofthedepartmentofcommerceandinsuranceshallverify | |
| 2132 | - | 7thesameandcertifytheamountoftaxduefromthevariouscompaniesonthebasisandatthe | |
| 2133 | - | 8ratesprovidedinsection148.320,andshallcertifythesametothedirectorofrevenue | |
| 2134 | - | 9togetherwiththeamountofthequarterlyinstallmentstobemadeasprovidedinsubsection2 | |
| 2135 | - | 10ofthissection,onorbeforethethirtiethdayofAprilofeachyear. | |
| 2136 | - | 11 2.BeginningJanuary1,1983,theamountofthetaxdueforthatcalendaryearand | |
| 2137 | - | 12eachsucceedingcalendaryearthereaftershallbepaidinfourapproximatelyequalestimated | |
| 2138 | - | 13quarterlyinstallments,andafifthreconcilinginstallment.Thefirstfourinstallmentsshallbe | |
| 2139 | - | 14baseduponthetaxfortheimmediatelyprecedingtaxableyearendingonthethirty-firstdayof | |
| 2140 | - | 15December,nextpreceding.Thequarterlyinstallmentsshallbemadeonthefirstdayof | |
| 2141 | - | 16March,thefirstdayofJune,thefirstdayofSeptemberandthefirstdayofDecember. | |
| 2142 | - | 17Immediatelyafterreceivingcertificationfromthedirectorofthedepartmentofcommerce | |
| 2143 | - | 18andinsuranceoftheamountoftaxduefromthevariouscompaniesthedirectorofrevenue | |
| 2144 | - | 19shallnotifyandassesseachcompanytheamountoftaxesonitspremiumsforthecalendar | |
| 2145 | - | 20yearendingonthethirty-firstdayofDecember,nextpreceding.Thedirectorofrevenueshall | |
| 2146 | - | 21alsonotifyandassesseachcompanytheamountoftheestimatedquarterlyinstallmentstobe | |
| 2147 | - | 22madeforthecalendaryear.Iftheamountoftheactualtaxdueforanyyearexceedsthetotal | |
| 2148 | - | 23oftheinstallmentsmadeforsuchyear,thebalanceofthetaxdueshallbepaidonthefirstday | |
| 2149 | - | 24ofJuneoftheyearfollowing,togetherwiththeregularquarterlypaymentdueatthattime.If | |
| 2150 | - | 25thetotalamountofthetaxactuallydueislessthanthetotalamountoftheinstallments | |
| 2151 | - | 26actuallypaid,theamountbywhichtheamountpaidexceedstheamountdueshallbecredited | |
| 2152 | - | 27againstthetaxforthefollowingyearanddeductedfromthequarterlyinstallmentotherwise | |
| 2153 | - | 28dueonthefirstdayofJune.IftheMarchfirstquarterlyinstallmentmadebyacompanyis | |
| 2154 | - | 29lessthantheamountassessedbythedirectorofrevenue,thedifferencewillbedueonJune | |
| 2155 | - | 30first,butnointerestwillaccruetothestateonthedifferenceunlesstheamountpaidbythe | |
| 2156 | - | 31companyislessthaneightypercentofone-fourthofthetotalamountoftaxassessedbythe | |
| 2157 | - | HCSHB2319 59 32directorofrevenuefortheimmediatelyprecedingtaxableyear.Thestatetreasurer,upon | |
| 2158 | - | 33receivingthemoneyspaidasataxuponsuchpremiumstothedirectorofrevenue,shallplace | |
| 2159 | - | 34themoneystothecreditofafundtobeknownas"TheCountyStockInsuranceFund",which | |
| 2160 | - | 35isherebycreatedandestablished.Thecountystockinsurancefundshallbeincludedinthe | |
| 2161 | - | 36calculationoftotalstaterevenuepursuanttoArticleX,Section18,oftheMissouri | |
| 2162 | - | 37Constitution. | |
| 2163 | - | 38 3.Iftheestimatedquarterlytaxinstallmentsarenotsopaid,thedirectorofrevenue | |
| 2164 | - | 39shallcertifysuchfacttothedirectorofthedepartmentofcommerceandinsurancewhoshall | |
| 2165 | - | 40thereaftersuspendsuchdelinquentcompanyorcompaniesfromthefurthertransactionof | |
| 2166 | - | 41businessinthisstateuntilsuchtaxesshallbepaidandsuchcompaniesshallbesubjecttothe | |
| 2167 | - | 42provisionsofsections148.410to148.461. | |
| 2168 | - | 43 4.OnorbeforethefirstdayofSeptemberofeachyearthecommissionerof | |
| 2169 | - | 44administrationshallapportionallmoneysinthecountystockinsurancefundtothegeneral | |
| 2170 | - | 45revenuefundofthestate,tothecountytreasurerandtothetreasureroftheschooldistrictin | |
| 2171 | - | 46whichtheprincipalofficeofthecompanypayingthesameislocated.Allpremiumtax | |
| 2172 | - | 47creditsdescribedin[sections135.500to135.529and]sections348.430and348.432shall | |
| 2173 | - | 48onlyreducetheamountsapportionedtothegeneralrevenuefundofthestateandshallnot | |
| 2174 | - | 49reduceanymoneysapportionedtoanycountytreasurerortothetreasureroftheschool | |
| 2175 | - | 50districtinwhichtheprincipalofficeofthecompanypayingthesameislocated. | |
| 2176 | - | 51Apportionmentsshallbemadeinthesameratiowhichtheratesoflevyforthesameyear | |
| 2177 | - | 52forstatepurposes,forcountypurposes,andforallschooldistrictpurposes,beartoeachother; | |
| 2178 | - | 53providedthatanyproceedsfromsuchtaxforprioryearsremainingonhandinthehandsof | |
| 2179 | - | 54thecountycollectororcountytreasurerundistributedontheeffectivedateofsections148.310 | |
| 2180 | - | 55to148.460andanyproceedsofsuchtaxforprioryearscollectedthereaftershallbe | |
| 2181 | - | 56distributedandpaidinaccordancewiththeprovisionsofsuchsections.Whenevertheword | |
| 2182 | - | 57"county"occurshereinitshallbeconstruedtoincludethecityofSt.Louis. | |
| 2183 | - | 148.350.1.Everysuchcompanyorassociationshall,onorbeforethefirstdayof | |
| 2184 | - | 2Marchineachyear,makeareturn,verifiedbytheaffidavitofitspresidentandsecretaryor | |
| 2185 | - | 3otherauthorizedofficers,tothedirectorofthedepartmentofcommerceandinsurancestating | |
| 2186 | - | 4theamountofallpremiumsreceivedonaccountofpoliciesissuedinthisstatebysuch | |
| 2187 | - | 5company,whetherincashorinnotes,duringtheyearendingonthethirty-firstdayof | |
| 2188 | - | 6December,nextpreceding.Uponreceiptofsuchreturns,thedirectorofthedepartmentof | |
| 2189 | - | 7commerceandinsuranceshallverifythesameandcertifytheamountoftaxduefromthe | |
| 2190 | - | 8variouscompaniesonthebasisandattherateprovidedinsection148.340,andshallcertify | |
| 2191 | - | 9thesametothedirectorofrevenuetogetherwiththeamountofthequarterlyinstallmentsto | |
| 2192 | - | 10bemadeasprovidedinsubsection2ofthissection,onorbeforethethirtiethdayofAprilof | |
| 2193 | - | 11eachyear. | |
| 2194 | - | HCSHB2319 60 12 2.BeginningJanuary1,1983,theamountofthetaxdueforthatcalendaryearand | |
| 2195 | - | 13eachsucceedingcalendaryearthereaftershallbepaidinfourapproximatelyequalestimated | |
| 2196 | - | 14quarterlyinstallmentsandafifthreconcilinginstallment.Thefirstfourinstallmentsshallbe | |
| 2197 | - | 15baseduponthetaxassessedfortheimmediatelyprecedingtaxableyearendingonthethirty- | |
| 2198 | - | 16firstdayofDecember,nextpreceding.Thequarterlyinstallmentshallbemadeonthefirst | |
| 2199 | - | 17dayofMarch,thefirstdayofJune,thefirstdayofSeptember,andthefirstdayofDecember. | |
| 2200 | - | 18Immediatelyafterreceivingfromthedirectorofthedepartmentofcommerceandinsurance, | |
| 2201 | - | 19certificationoftheamountoftaxduefromthevariouscompanies,thedirectorofrevenue | |
| 2202 | - | 20shallnotifyandassesseachcompanytheamountoftaxesonitspremiumsforthecalendar | |
| 2203 | - | 21yearendingonthethirty-firstdayofDecember,nextpreceding.Thedirectorofrevenueshall | |
| 2204 | - | 22alsonotifyandassesseachcompanytheamountoftheestimatedquarterlyinstallmentstobe | |
| 2205 | - | 23madeforthecalendaryear.Iftheamountoftheactualtaxdueforanyyearexceedsthetotal | |
| 2206 | - | 24oftheinstallmentsmadeforsuchyear,thebalanceofthetaxdueshallbepaidonthefirstday | |
| 2207 | - | 25ofJuneofthefollowingyear,togetherwiththeregularquarterlyinstallmentdueatthattime. | |
| 2208 | - | 26Ifthetotalamountofthetaxactuallydueislessthanthetotalamountoftheinstallments | |
| 2209 | - | 27actuallypaid,theamountbywhichtheamountpaidexceedstheamountdueshallbecredited | |
| 2210 | - | 28againstthetaxforthefollowingyearanddeductedfromthequarterlyinstallmentotherwise | |
| 2211 | - | 29dueonthefirstdayofJune.IftheMarchfirstquarterlyinstallmentmadebyacompanyis | |
| 2212 | - | 30lessthantheamountassessedbythedirectorofrevenue,thedifferencewillbedueonJune | |
| 2213 | - | 31first,butnointerestwillaccruetothestateonthedifferenceunlesstheamountpaidbythe | |
| 2214 | - | 32companyislessthaneightypercentofone-fourthofthetotalamountoftaxassessedbythe | |
| 2215 | - | 33directorofrevenuefortheimmediatelyprecedingtaxableyear.Iftheestimatedquarterlytax | |
| 2216 | - | 34installmentsarenotsopaid,thedirectorofrevenueshallcertifysuchfacttothedirectorofthe | |
| 2217 | - | 35departmentofcommerceandinsurancewhoshallthereaftersuspendsuchdelinquent | |
| 2218 | - | 36companyorcompaniesfromthefurthertransactionofbusinessinthisstateuntilsuchtaxes | |
| 2219 | - | 37shallbepaid,andsuchcompaniesshallbesubjecttotheprovisionsofsections148.410to | |
| 2220 | - | 38148.461. | |
| 2221 | - | 39 3.Uponreceivingsuchmoneyfromthedirectorofrevenue,thestatetreasurershall | |
| 2222 | - | 40receiptone-halfthereofintothegeneralrevenuefundofthestate,andheshallplacethe | |
| 2223 | - | 41remainderofsuchtaxtothecreditofafundtobeknownas"TheCountyForeignInsurance | |
| 2224 | - | 42TaxFund",whichisherebycreatedandestablished.[Allpremiumtaxcreditsdescribedin | |
| 2225 | - | 43sections135.500to135.529shallonlyreducetheamountofmoneysreceivedbythegeneral | |
| 2226 | - | 44revenuefundofthisstateandshallnotreduceanymoneysreceivedbythecountyforeign | |
| 2227 | - | 45insurancetaxfund.] | |
| 2363 | + | 152 13.(1)ForalltaxyearsbeginningonorafterJanuary1,2025,thecumulative | |
| 2364 | + | 153amountoftaxcreditsallowedtoalltaxpayersunderthissectionshallnotexceedthe | |
| 2365 | + | 154totalcapamountwhichshallbeanamountequaltotwentypercentgreaterthanthe | |
| 2366 | + | 155highestannualamountoftaxcreditsredeemedinanyonepreviousfiscalyear,from | |
| 2367 | + | 156fiscalyear2018tofiscalyear2024,asdeterminedandcalculatedbythedepartment. | |
| 2368 | + | 157 (2)Iftheamountoftaxcreditsclaimedinataxyearunderthissectionexceeds | |
| 2369 | + | 158thetotalcapdeterminedundersubdivision(1)ofthissubsection,taxcreditsshallbe | |
| 2370 | + | 159allowedbasedontheorderinwhichtheyareclaimed. | |
| 2371 | + | 160 14.Undersection23.253oftheMissourisunsetact: | |
| 2372 | + | 161 (1)Theprovisionsofthetaxcreditprogramsauthorizedundersubsections10, | |
| 2373 | + | 16211,and12ofthissectionshallautomaticallysunsetonDecember31,2030,unless | |
| 2374 | + | 163reauthorizedbyanactofthegeneralassembly; | |
| 2375 | + | 164 (2)Ifsuchprogramsarereauthorized,thetaxcreditprogramsauthorizedunder | |
| 2376 | + | 165subsections10,11,and12ofthissectionshallautomaticallysunsetonDecemberthirty- | |
| 2377 | + | 166first,sixyearsaftertheeffectivedateofthereauthorizationofthissection; | |
| 2378 | + | HB2319 65 167 (3)Theprovisionsofthetaxcreditprogramsauthorizedundersubsections10, | |
| 2379 | + | 16811,and12ofthissectionshallterminateonSeptemberfirstofthecalendaryear | |
| 2380 | + | 169immediatelyfollowingthecalendaryearinwhichtheprogramsauthorizedunder | |
| 2381 | + | 170subsections10,11,and12ofthissectionaresunset;and | |
| 2382 | + | 171 (4)Theprovisionsofthissubsectionshallnotbeconstruedtolimitorinanyway | |
| 2383 | + | 172impairataxpayer'sabilitytoredeemtaxcreditsauthorizedonorbeforethedatethe | |
| 2384 | + | 173programsauthorizedunderthissectionexpire. | |
| 2385 | + | 148.030.1.Everybankinginstitutionshallbesubjecttoanannualtaxforthe | |
| 2386 | + | 2privilegeofexercisingitscorporatefranchiseswithinthestatedeterminedinaccordancewith | |
| 2387 | + | 3subsection2ofthissection. | |
| 2388 | + | 4 2.Theannualfranchisetaximposedbysubsection1ofthissectionshallbethesum | |
| 2389 | + | 5oftheamountsdeterminedundersubdivisions(1)and(2)ofthissubsection: | |
| 2390 | + | 6 (1)For[taxable] taxyearsbeginningafterDecember31,1986,theamount | |
| 2391 | + | 7determinedunderthissubdivisionshallbedeterminedinaccordancewithsection147.010; | |
| 2392 | + | 8 (2)Theamountdeterminedunderthissubdivisionshallbesevenpercentofthe | |
| 2393 | + | 9taxpayer'snetincomefortheincomeperiod,fromwhichproductshallbesubtractedthesum | |
| 2394 | + | 10oftheamountdeterminedundersubdivision(1)ofthissubsectionandthecreditsallowable | |
| 2395 | + | 11undersubsection3ofthissection.However,theamountdeterminedunderthissubdivision | |
| 2396 | + | 12shallnotbelessthanzero. | |
| 2397 | + | 13 3.Forpurposesofsubdivision(2)ofsubsection2ofthissection,theallowablecredits | |
| 2398 | + | 14arealltaxespaidtothestateofMissourioranypoliticalsubdivisionthereofduringthe | |
| 2399 | + | 15relevantincomeperiod,including,withoutlimitation,stateandlocalsalesandusetaxespaid | |
| 2400 | + | 16toseller's,vendors,orthestateofMissouriwithrespecttothetaxpayer'spurchasesof | |
| 2401 | + | 17tangiblepersonalpropertyandtheservicesenumeratedinchapter144.However,ataxpayer | |
| 2402 | + | 18shallnotbeentitledtocreditsfortaxesonrealestateandtangiblepersonalpropertyownedby | |
| 2403 | + | 19thetaxpayerandheldforleaseorrentaltoothers,contributionspaidpursuanttothe | |
| 2404 | + | 20unemploymentcompensationtaxlawofMissouri,taxesimposedbythislaw,taxesimposed | |
| 2405 | + | 21underchapter147for[taxable] taxyearsafter1985,orstateandlocalsalesandusetaxes | |
| 2406 | + | 22collectedbythetaxpayeronitssalesoftangiblepersonalpropertyandtheservices | |
| 2407 | + | 23enumeratedinchapter144. | |
| 2408 | + | 24 4.(1)ForalltaxyearsbeginningonorafterJanuary1,2025,thecumulative | |
| 2409 | + | 25amountoftaxcreditsallowedtoalltaxpayersunderthissectionshallnotexceedthe | |
| 2410 | + | 26totalcapamountwhichshallbeanamountequaltotwentypercentgreaterthanthe | |
| 2411 | + | 27highestannualamountoftaxcreditsredeemedinanyonepreviousfiscalyear,from | |
| 2412 | + | 28fiscalyear2018tofiscalyear2024,asdeterminedandcalculatedbythedepartment. | |
| 2413 | + | HB2319 66 29 (2)Iftheamountoftaxcreditsclaimedinataxyearunderthissectionexceeds | |
| 2414 | + | 30thetotalcapdeterminedundersubdivision(1)ofthissubsection,taxcreditsshallbe | |
| 2415 | + | 31allowedbasedontheorderinwhichtheyareclaimed. | |
| 2416 | + | 32 5.Undersection23.253oftheMissourisunsetact: | |
| 2417 | + | 33 (1)Theprovisionsoftheprogramauthorizedunderthissectionshall | |
| 2418 | + | 34automaticallysunsetonDecember31,2030,unlessreauthorizedbyanactofthe | |
| 2419 | + | 35generalassembly; | |
| 2420 | + | 36 (2)Ifsuchprogramisreauthorized,theprogramauthorizedunderthissection | |
| 2421 | + | 37shallautomaticallysunsetonDecemberthirty-first,sixyearsaftertheeffectivedateof | |
| 2422 | + | 38thereauthorizationofthissection; | |
| 2423 | + | 39 (3)ThissectionshallterminateonSeptemberfirstofthecalendaryear | |
| 2424 | + | 40immediatelyfollowingthecalendaryearinwhichtheprogramauthorizedunderthis | |
| 2425 | + | 41sectionissunset;and | |
| 2426 | + | 42 (4)Theprovisionsofthissubsectionshallnotbeconstruedtolimitorinanyway | |
| 2427 | + | 43impairataxpayer'sabilitytoredeemtaxcreditsauthorizedonorbeforethedatethe | |
| 2428 | + | 44programauthorizedunderthissectionexpires. | |
| 2228 | 2429 | 192.2015.1.Anyregisteredcaregiverwhomeetstherequirementsofthissection | |
| 2229 | 2430 | 2shallbeeligibleforasharedcaretaxcreditinanamountnottoexceedfivehundreddollarsto | |
| 2230 | - | ||
| 2431 | + | 3defraythecostofcaringforanelderlyperson.Inordertobeeligibleforasharedcaretax | |
| 2231 | 2432 | 4credit,aregisteredcaregivershall: | |
| 2232 | 2433 | 5 (1)Careforanelderlyperson,agesixtyorolder,who: | |
| 2233 | 2434 | 6 (a)Isphysicallyormentallyincapableoflivingalone,asdeterminedandcertifiedby | |
| 2234 | 2435 | 7hisorherphysicianlicensedpursuanttochapter334,orbythedepartmentstaffwhenan | |
| 2235 | 2436 | 8assessmenthasbeencompletedforthepurposeofqualificationforotherservices;and | |
| 2236 | 2437 | 9 (b)Requiresassistancewithactivitiesofdailylivingtotheextentthatwithoutcare | |
| 2237 | 2438 | 10andoversightathomewouldrequireplacementinafacilitylicensedpursuanttochapter198; | |
| 2238 | 2439 | 11and | |
| 2239 | 2440 | 12 (c)Undernocircumstances,isableorallowedtooperateamotorvehicle;and | |
| 2240 | 2441 | 13 (d)DoesnotreceivefundingorservicesthroughMedicaidorsocialservicesblock | |
| 2241 | 2442 | 14grantfunding; | |
| 2242 | 2443 | 15 (2)Liveinthesameresidencetogiveprotectiveoversightfortheelderlyperson | |
| 2243 | 2444 | 16meetingtherequirementsdescribedinsubdivision(1)ofthissubsectionforanaggregateof | |
| 2244 | 2445 | 17morethansixmonthspertaxyear; | |
| 2245 | 2446 | 18 (3)Notreceivemonetarycompensationforprovidingcarefortheelderlyperson | |
| 2246 | 2447 | 19meetingtherequirementsdescribedinsubdivision(1)ofthissubsection;and | |
| 2247 | 2448 | 20 (4)Filetheoriginalcompletedandsignedphysiciancertificationforsharedcaretax | |
| 2248 | 2449 | 21creditformortheoriginalcompletedandsigneddepartmentcertificationforsharedcaretax | |
| 2249 | - | 22creditformprovidedforinsubsection2ofsection192.2010alongwithsuchcaregiver's | |
| 2450 | + | HB2319 67 22creditformprovidedforinsubsection2ofsection192.2010alongwithsuchcaregiver's | |
| 2250 | 2451 | 23Missouriindividualincometaxreturntothedepartmentofrevenue. | |
| 2251 | 2452 | 24 2.Thetaxcreditallowedbythissectionshallapplytoanyyearbeginningafter | |
| 2252 | 2453 | 25December31,1999. | |
| 2253 | - | 26 3.(1) | |
| 2454 | + | 26 3.(1)ForalltaxyearsbeginningonorafterJanuary1,2025,thecumulative | |
| 2254 | 2455 | 27amountoftaxcreditsallowedtoalltaxpayersunderthissectionshallnotexceedthe | |
| 2255 | 2456 | 28totalcapamountwhichshallbeanamountequaltotwentypercentgreaterthanthe | |
| 2256 | 2457 | 29highestannualamountoftaxcreditsredeemedinanyonepreviousfiscalyear,from | |
| 2257 | 2458 | 30fiscalyear2018tofiscalyear2024,asdeterminedandcalculatedbythedepartment. | |
| 2258 | - | 31 (2) | |
| 2459 | + | 31 (2)Iftheamountoftaxcreditsclaimedinataxyearunderthissectionexceeds | |
| 2259 | 2460 | 32thetotalcapdeterminedundersubdivision(1)ofthissubsection,taxcreditsshallbe | |
| 2260 | 2461 | 33allowedbasedontheorderinwhichtheyareclaimed. | |
| 2261 | 2462 | 34 [3.]4.Anyruleorportionofarule,asthattermisdefinedinsection536.010,thatis | |
| 2262 | 2463 | 35createdundertheauthoritydelegatedinsections192.2000to192.2020shallbecomeeffective | |
| 2263 | 2464 | 36onlyifitcomplieswithandissubjecttoalloftheprovisionsofchapter536and,ifapplicable, | |
| 2264 | 2465 | 37section536.028.AllrulemakingauthoritydelegatedpriortoAugust28,1999,isofnoforce | |
| 2265 | 2466 | 38andeffectandrepealed.Nothinginthissectionshallbeinterpretedtorepealoraffectthe | |
| 2266 | 2467 | 39validityofanyrulefiledoradoptedpriortoAugust28,1999,ifitfullycompliedwithall | |
| 2267 | - | ||
| 2468 | + | 40applicableprovisionsoflaw.Thissectionandchapter536arenonseverableandifanyofthe | |
| 2268 | 2469 | 41powersvestedwiththegeneralassemblypursuanttochapter536toreview,todelaythe | |
| 2269 | 2470 | 42effectivedateortodisapproveandannularulearesubsequentlyheldunconstitutional,then | |
| 2270 | 2471 | 43thegrantofrulemakingauthorityandanyruleproposedoradoptedafterAugust28,1999, | |
| 2271 | 2472 | 44shallbeinvalidandvoid. | |
| 2272 | 2473 | 45 [4.]5.Anypersonwhoknowinglyfalsifiesanydocumentrequiredforthesharedcare | |
| 2273 | 2474 | 46taxcreditshallbesubjecttothesamepenaltiesforfalsifyingothertaxdocumentsasprovided | |
| 2274 | 2475 | 47inchapter143. | |
| 2275 | 2476 | 48 6.Undersection23.253oftheMissourisunsetact: | |
| 2276 | 2477 | 49 (1)Theprovisionsoftheprogramauthorizedunderthissectionshall | |
| 2277 | - | ||
| 2278 | - | ||
| 2478 | + | 50automaticallysunsetonDecember31,2030,unlessreauthorizedbyanactofthe | |
| 2479 | + | 51generalassembly; | |
| 2279 | 2480 | 52 (2)Ifsuchprogramisreauthorized,theprogramauthorizedunderthissection | |
| 2280 | - | ||
| 2281 | - | ||
| 2481 | + | 53shallautomaticallysunsetonDecemberthirty-first,sixyearsaftertheeffectivedateof | |
| 2482 | + | 54thereauthorizationofthissection; | |
| 2282 | 2483 | 55 (3)ThissectionshallterminateonSeptemberfirstofthecalendaryear | |
| 2283 | 2484 | 56immediatelyfollowingthecalendaryearinwhichtheprogramauthorizedunderthis | |
| 2284 | 2485 | 57sectionissunset;and | |
| 2285 | - | 58 (4)Theprovisionsofthissubsectionshallnotbeconstruedtolimitorinanyway | |
| 2486 | + | HB2319 68 58 (4)Theprovisionsofthissubsectionshallnotbeconstruedtolimitorinanyway | |
| 2286 | 2487 | 59impairataxpayer'sabilitytoredeemtaxcreditsauthorizedonorbeforethedatethe | |
| 2287 | 2488 | 60programauthorizedunderthissectionexpires. | |
| 2288 | 2489 | 208.770.1.Moneysdepositedinorwithdrawnpursuanttosubsection1ofsection | |
| 2289 | 2490 | 2208.760fromafamilydevelopmentaccountbyanaccountholderareexemptedfromtaxation | |
| 2290 | 2491 | 3pursuanttochapter143,excludingwithholdingtaximposedbysections143.191to143.265, | |
| 2291 | 2492 | 4andchapter147,148or153provided,however,thatanymoneywithdrawnforanunapproved | |
| 2292 | 2493 | 5useshouldbesubjecttotaxasrequiredbylaw. | |
| 2293 | 2494 | 6 2.Interestearnedbyafamilydevelopmentaccountisexemptedfromtaxation | |
| 2294 | 2495 | 7pursuanttochapter143. | |
| 2295 | 2496 | 8 3.Anyfundsinafamilydevelopmentaccount,includingaccruedinterest,shallbe | |
| 2296 | 2497 | 9disregardedwhendeterminingeligibilitytoreceive,ortheamountof,anypublicassistanceor | |
| 2297 | 2498 | 10benefits. | |
| 2298 | 2499 | 11 4.Aprogramcontributorshallbeallowedacreditagainstthetaximposedbychapter | |
| 2299 | 2500 | 12143,excludingwithholdingtaximposedbysections143.191to143.265,andchapter147, | |
| 2300 | 2501 | 13148or153,pursuanttosections208.750to208.775.Contributionsuptofiftythousand | |
| 2301 | 2502 | 14dollarsperprogramcontributorareeligibleforthetaxcreditwhichshallnotexceedfifty | |
| 2302 | 2503 | 15percentofthecontributionamount. | |
| 2303 | - | ||
| 2504 | + | 16 5.Thedepartmentofeconomicdevelopmentshallverifyalltaxcreditclaimsby | |
| 2304 | 2505 | 17contributors.Theadministratorofthecommunity-basedorganization,withthecooperation | |
| 2305 | 2506 | 18oftheparticipatingfinancialinstitutions,shallsubmitthenamesofcontributorsandthetotal | |
| 2306 | 2507 | 19amounteachcontributorcontributestoafamilydevelopmentaccountreservefundforthe | |
| 2307 | 2508 | 20calendaryear.Thedirectorshalldeterminethedatebywhichsuchinformationshallbe | |
| 2308 | 2509 | 21submittedtothedepartmentbythelocaladministrator.Thedepartmentshallsubmit | |
| 2309 | 2510 | 22verificationofqualifiedtaxcreditspursuanttosections208.750to208.775tothedepartment | |
| 2310 | 2511 | 23ofrevenue. | |
| 2311 | 2512 | 24 6.ForallfiscalyearsendingonorbeforeJune30,2010,thetotaltaxcredits | |
| 2312 | 2513 | 25authorizedpursuanttosections208.750to208.775shallnotexceedfourmilliondollarsin | |
| 2313 | 2514 | 26anyfiscalyear.ForallfiscalyearsbeginningonorafterJuly1,2010,thetotaltaxcredits | |
| 2314 | 2515 | 27authorizedundersections208.750to208.775shallnotexceedthreehundredthousanddollars | |
| 2315 | 2516 | 28inanyfiscalyear. | |
| 2316 | 2517 | 29 7.Undersection23.253oftheMissourisunsetact: | |
| 2317 | 2518 | 30 (1)Theprovisionsofthetaxcreditprogramauthorizedunderthissectionshall | |
| 2318 | - | ||
| 2519 | + | 31automaticallysunsetonDecember31,2030,unlessreauthorizedbyanactofthegeneral | |
| 2319 | 2520 | 32assembly; | |
| 2320 | - | 33 (2)Ifsuchtaxcreditprogramisreauthorized,theprogramauthorizedunder | |
| 2321 | - | ||
| 2322 | - | ||
| 2521 | + | HB2319 69 33 (2)Ifsuchtaxcreditprogramisreauthorized,theprogramauthorizedunder | |
| 2522 | + | 34thissectionshallautomaticallysunsetonDecemberthirty-first,sixyearsafterthe | |
| 2523 | + | 35effectivedateofthereauthorizationofthissection; | |
| 2323 | 2524 | 36 (3)ThissectionshallterminateonSeptemberfirstofthecalendaryear | |
| 2324 | 2525 | 37immediatelyfollowingthecalendaryearinwhichtheprogramauthorizedunderthis | |
| 2325 | 2526 | 38sectionissunset;and | |
| 2326 | 2527 | 39 (4)Theprovisionsofthissubsectionshallnotbeconstruedtolimitorinanyway | |
| 2327 | 2528 | 40impairataxpayer'sabilitytoredeemtaxcreditsauthorizedonorbeforethedatethe | |
| 2328 | 2529 | 41programauthorizedunderthissectionexpires. | |
| 2329 | - | 320.092.1.Taxcreditsissuedpursuanttosections135.400[,] to135.432andsection | |
| 2330 | - | 2135.750[and320.093] shallbesubjecttooversightprovisions.EffectiveJanuary1,2000, | |
| 2331 | - | 3notwithstandingtheprovisionsofsection32.057,theboard,departmentorauthorityissuing | |
| 2332 | - | 4taxcreditsshallannuallyreporttotheofficeofadministration,presidentprotemofthe | |
| 2333 | - | 5senate,andthespeakerofthehouseofrepresentativesregardingthetaxcreditsissued | |
| 2334 | - | 6pursuanttosections135.400[,] to135.432andsection135.750[and320.093] whichwere | |
| 2335 | - | 7issuedinthepreviousfiscalyear.Thereportshallcontain,butnotbelimitedto,theaggregate | |
| 2336 | - | 8numberanddollaramountoftaxcreditsissuedbytheboard,departmentorauthority,the | |
| 2337 | - | 9numberanddollaramountoftaxcreditsclaimedbytaxpayers,andthenumberanddollar | |
| 2338 | - | 10amountoftaxcreditsunclaimedbytaxpayersaswellasthenumberofyearsallowedfor | |
| 2339 | - | 11claimstobemade.ThisreportshallbedeliverednolaterthanNovemberofeachyear. | |
| 2340 | - | HCSHB2319 64 12 2.Thereportingrequirementsestablishedpursuanttosubsection1ofthissection | |
| 2341 | - | 13shallalsoapplytothedepartmentofeconomicdevelopmentandtheMissouridevelopment | |
| 2342 | - | 14financeboardestablishedpursuanttosection100.265.ThedepartmentandtheMissouri | |
| 2343 | - | 15developmentfinanceboardshallreportonthetaxcreditprogramswhichtheyrespectively | |
| 2344 | - | 16administerthatareauthorizedundertheprovisionsofchapters32,100,135,178,253,348, | |
| 2345 | - | 17447and620. | |
| 2346 | 2530 | 348.505.1.Asusedinthissection,"statetaxliability"[,] meansanystatetaxliability | |
| 2347 | 2531 | 2incurredbyataxpayerundertheprovisionsofchapters143,147,and148,exclusiveofthe | |
| 2348 | 2532 | 3provisionsrelatingtothewithholdingoftaxasprovidedforinsections143.191to143.265 | |
| 2349 | 2533 | 4andrelatedprovisions. | |
| 2350 | 2534 | 5 2.Anyeligiblelenderunderthefamilyfarmlivestockloanprogramundersection | |
| 2351 | 2535 | 6348.500shallbeentitledtoreceiveataxcreditequaltoonehundredpercentoftheamountof | |
| 2352 | 2536 | 7interestwaivedbythelenderundersection348.500onaqualifyingloanforthefirstyearof | |
| 2353 | 2537 | 8theloanonly.Thetaxcreditshallbeevidencedbyataxcreditcertificateissuedbythe | |
| 2354 | 2538 | 9agriculturalandsmallbusinessdevelopmentauthorityandmaybeusedtosatisfythestatetax | |
| 2355 | 2539 | 10liabilityoftheownerofsuchcertificatethatbecomesdueinthetaxyearinwhichtheinterest | |
| 2356 | 2540 | 11onaqualifiedloaniswaivedbythelenderundersection348.500.Nolendermayreceivea | |
| 2357 | 2541 | 12taxcreditunderthissectionunlesssuchpersonpresentsataxcreditcertificatetothe | |
| 2358 | 2542 | 13departmentofrevenueforpaymentofsuchstatetaxliability.Theamountofthetaxcredits | |
| 2359 | 2543 | 14thatmaybeissuedtoalleligiblelendersclaimingtaxcreditsauthorizedinthissectionina | |
| 2360 | 2544 | 15fiscalyearshallnotexceedthreehundredthousanddollars. | |
| 2361 | 2545 | 16 3.Theagriculturalandsmallbusinessdevelopmentauthorityshallberesponsiblefor | |
| 2362 | 2546 | 17theadministrationandissuanceofthecertificateoftaxcreditsauthorizedbythissection.The | |
| 2363 | 2547 | 18authorityshallissueacertificateoftaxcreditattherequestofanylender.Eachrequestshall | |
| 2364 | 2548 | 19includeatruecopyoftheloandocuments,thenameofthelenderwhoistoreceivea | |
| 2365 | 2549 | 20certificateoftaxcredit,thetypeofstatetaxliabilityagainstwhichthetaxcreditistobeused, | |
| 2366 | 2550 | 21andtheamountofthecertificateoftaxcredittobeissuedtothelenderbasedontheinterest | |
| 2367 | 2551 | 22waivedbythelenderundersection348.500ontheloanforthefirstyear. | |
| 2368 | 2552 | 23 4.TheMissouridepartmentofrevenueshallacceptacertificateoftaxcreditinlieuof | |
| 2369 | 2553 | 24otherpaymentinsuchamountasisequaltothelesseroftheamountofthetaxorthe | |
| 2370 | 2554 | 25remainingunusedamountofthecreditasindicatedonthecertificateoftaxcredit,andshall | |
| 2371 | 2555 | 26indicateonthecertificateoftaxcredittheamountoftaxtherebypaidandthedateofsuch | |
| 2372 | 2556 | 27payment. | |
| 2373 | 2557 | 28 5.Thefollowingprovisionsshallapplytotaxcreditsauthorizedunderthissection: | |
| 2374 | - | 29 (1)Taxcreditsclaimedina[taxable] taxyearmaybeclaimedonaquarterlybasis | |
| 2558 | + | HB2319 70 29 (1)Taxcreditsclaimedina[taxable] taxyearmaybeclaimedonaquarterlybasis | |
| 2375 | 2559 | 30andappliedtotheestimatedquarterlytaxofthelender; | |
| 2376 | - | ||
| 2560 | + | 31 (2)Anyamountoftaxcreditwhichexceedsthetaxdue,includinganyestimated | |
| 2377 | 2561 | 32quarterlytaxespaidbythelenderundersubdivision(1)ofthissubsectionwhichresultsinan | |
| 2378 | 2562 | 33overpaymentoftaxesfora[taxable] taxyear,shallnotberefundedbutmaybecarriedoverto | |
| 2379 | 2563 | 34anysubsequent[taxable] taxyear,nottoexceedatotalofthreeyearsforwhichataxcredit | |
| 2380 | 2564 | 35maybetakenforaqualifiedfamilyfarmlivestockloan; | |
| 2381 | 2565 | 36 (3)Notwithstandinganyprovisionoflawtothecontrary,alendermayassign, | |
| 2382 | 2566 | 37transferorselltaxcreditsauthorizedunderthissection,withthenewownerofthetaxcredit | |
| 2383 | 2567 | 38receivingthesamerightsinthetaxcreditasthelender.Foranytaxcreditsassigned, | |
| 2384 | 2568 | 39transferred,sold,orotherwiseconveyed,anotarizedendorsementshallbefiledbythelender | |
| 2385 | 2569 | 40withtheauthorityspecifyingthenameandaddressofthenewownerofthetaxcreditandthe | |
| 2386 | 2570 | 41valueofsuchtaxcredit;and | |
| 2387 | 2571 | 42 (4)Notwithstandinganyotherprovisionofthissectiontothecontrary,any | |
| 2388 | 2572 | 43commercialbankmayusetaxcreditscreatedunderthissectionasprovidedinsection | |
| 2389 | 2573 | 44148.064andreceiveanettaxcreditagainsttaxesactuallypaidintheamountofthefirstyear's | |
| 2390 | 2574 | 45interestonloansmadeunderthissection.Ifsuchfirstyeartaxcreditsreducetaxesdueas | |
| 2391 | 2575 | 46providedinsection148.064tozero,theremainingtaxcreditsmaybecarriedoveras | |
| 2392 | 2576 | 47otherwiseprovidedinthissectionandutilizedasprovidedinsection148.064insubsequent | |
| 2393 | 2577 | 48years. | |
| 2394 | 2578 | 49 6.Undersection23.253oftheMissourisunsetact: | |
| 2395 | 2579 | 50 (1)Theprovisionsoftheprogramauthorizedunderthissectionshall | |
| 2396 | - | ||
| 2397 | - | ||
| 2580 | + | 51automaticallysunsetonDecember31,2030,unlessreauthorizedbyanactofthe | |
| 2581 | + | 52generalassembly; | |
| 2398 | 2582 | 53 (2)Ifsuchprogramisreauthorized,theprogramauthorizedunderthissection | |
| 2399 | - | ||
| 2400 | - | ||
| 2583 | + | 54shallautomaticallysunsetonDecemberthirty-first,sixyearsaftertheeffectivedateof | |
| 2584 | + | 55thereauthorizationofthissection; | |
| 2401 | 2585 | 56 (3)ThissectionshallterminateonSeptemberfirstofthecalendaryear | |
| 2402 | 2586 | 57immediatelyfollowingthecalendaryearinwhichtheprogramauthorizedunderthis | |
| 2403 | 2587 | 58sectionissunset;and | |
| 2404 | 2588 | 59 (4)Theprovisionsofthissubsectionshallnotbeconstruedtolimitorinanyway | |
| 2405 | 2589 | 60impairataxpayer'sabilitytoredeemtaxcreditsauthorizedonorbeforethedatethe | |
| 2406 | 2590 | 61programauthorizedunderthissectionexpires. | |
| 2407 | 2591 | 447.708.1.Foreligibleprojects,thedirectorofthedepartmentofeconomic | |
| 2408 | 2592 | 2development,withnoticetothedirectorsofthedepartmentsofnaturalresourcesandrevenue, | |
| 2409 | 2593 | 3andsubjecttotheotherprovisionsofsections447.700to447.718,maynotcreateanew | |
| 2410 | 2594 | 4enterprisezonebutmaydecidethataprospectiveoperatorofafacilitybeingremediedand | |
| 2411 | - | 5renovatedpursuanttosections447.700to447.718mayreceivethetaxcreditsandexemptions | |
| 2595 | + | HB2319 71 5renovatedpursuanttosections447.700to447.718mayreceivethetaxcreditsandexemptions | |
| 2412 | 2596 | 6pursuanttosections135.100to135.150andsections135.200to135.257.Thetaxcredits | |
| 2413 | - | ||
| 2597 | + | 7allowedpursuanttothissubsectionshallbeusedtooffsetthetaximposedbychapter143, | |
| 2414 | 2598 | 8excludingwithholdingtaximposedbysections143.191to143.265,orthetaxotherwise | |
| 2415 | 2599 | 9imposedbychapter147,orthetaxotherwiseimposedbychapter148.Forpurposesofthis | |
| 2416 | 2600 | 10subsection: | |
| 2417 | 2601 | 11 (1)Forreceiptoftheadvaloremtaxabatementpursuanttosection135.215,the | |
| 2418 | 2602 | 12eligibleprojectmustcreateatleasttennewjobsorretainbusinesseswhichsupplyatleast | |
| 2419 | 2603 | 13twenty-fiveexistingjobs.Thecity,orcountyiftheeligibleprojectisnotlocatedinacity, | |
| 2420 | 2604 | 14mustprovideadvaloremtaxabatementofatleastfiftypercentforaperiodnotlessthanten | |
| 2421 | 2605 | 15yearsandnotmorethantwenty-fiveyears; | |
| 2422 | 2606 | 16 (2)Forreceiptoftheincometaxexemptionpursuanttosection135.220andtaxcredit | |
| 2423 | 2607 | 17forneworexpandedbusinessfacilitiespursuanttosections135.100to135.150,and135.225, | |
| 2424 | 2608 | 18theeligibleprojectmustcreateatleasttennewjobsorretainbusinesseswhichsupplyatleast | |
| 2425 | 2609 | 19twenty-fiveexistingjobs,orcombinationthereof.Forpurposesofsections447.700to | |
| 2426 | 2610 | 20447.718,thetaxcreditsdescribedinsection135.225aremodifiedasfollows:thetaxcredit | |
| 2427 | 2611 | 21shallbefourhundreddollarsperemployeeperyear,anadditionalfourhundreddollarsper | |
| 2428 | 2612 | 22yearforeachemployeeexceedingtheminimumemploymentthresholdsoftenandtwenty- | |
| 2429 | 2613 | 23fivejobsfornewandexistingbusinesses,respectively,anadditionalfourhundreddollarsper | |
| 2430 | 2614 | 24yearforeachpersonwhoisapersondifficulttoemployasdefinedbysection135.240,and | |
| 2431 | 2615 | 25investmenttaxcreditsatthesameamountsandlevelsasprovidedinsubdivision(4)of | |
| 2432 | 2616 | 26subsection1ofsection135.225; | |
| 2433 | 2617 | 27 (3)Foreligibilitytoreceivetheincometaxrefundpursuanttosection135.245,the | |
| 2434 | 2618 | 28eligibleprojectmustcreateatleasttennewjobsorretainbusinesseswhichsupplyatleast | |
| 2435 | 2619 | 29twenty-fiveexistingjobs,orcombinationthereof,andotherwisecomplywiththeprovisions | |
| 2436 | 2620 | 30ofsection135.245forapplicationanduseoftherefundandtheeligibilityrequirementsof | |
| 2437 | 2621 | 31thissection; | |
| 2438 | 2622 | 32 (4)Theeligibleprojectoperatesincompliancewithapplicableenvironmentallaws | |
| 2439 | 2623 | 33andregulations,includingpermittingandregistrationrequirements,ofthisstateaswellasthe | |
| 2440 | 2624 | 34federalandlocalrequirements; | |
| 2441 | 2625 | 35 (5)Theeligibleprojectoperatorshallfilesuchreportsasmayberequiredbythe | |
| 2442 | 2626 | 36directorofeconomicdevelopmentorthedirector'sdesignee; | |
| 2443 | 2627 | 37 (6)Thetaxpayermayclaimthestatetaxcreditsauthorizedbythissubsectionandthe | |
| 2444 | 2628 | 38stateincomeexemptionforaperiodnotinexcessoftenconsecutivetaxyears.Forthe | |
| 2445 | 2629 | 39purposeofthissection,"taxpayer"meansanindividualproprietorship,partnershipor | |
| 2446 | 2630 | 40corporationdescribedinsection143.441or143.471whooperatesaneligibleproject.The | |
| 2447 | 2631 | 41directorshalldeterminethenumberofyearsthetaxpayermayclaimthestatetaxcreditsand | |
| 2448 | - | 42thestateincomeexemptionbasedontheprojectednetstateeconomicbenefitsattributedto | |
| 2632 | + | HB2319 72 42thestateincomeexemptionbasedontheprojectednetstateeconomicbenefitsattributedto | |
| 2449 | 2633 | 43theeligibleproject; | |
| 2450 | - | ||
| 2634 | + | 44 (7)Forthepurposeofmeetingthenewjobrequirementprescribedinsubdivisions | |
| 2451 | 2635 | 45(1),(2)and(3)ofthissubsection,itshallberequiredthatatleasttennewjobsbecreatedand | |
| 2452 | 2636 | 46maintainedduringthetaxpayer'staxperiodforwhichthecreditsareearned,inthecaseofan | |
| 2453 | 2637 | 47eligibleprojectthatdoesnotreplaceasimilarfacilityinMissouri."Newjob"meansaperson | |
| 2454 | 2638 | 48whowasnotpreviouslyemployedbythetaxpayerorrelatedtaxpayerwithinthetwelve- | |
| 2455 | 2639 | 49monthperiodimmediatelyprecedingthetimethepersonwasemployedbythattaxpayerto | |
| 2456 | 2640 | 50workat,orinconnectionwith,theeligibleprojectonafull-timebasis."Full-timebasis" | |
| 2457 | 2641 | 51meanstheemployeeworksanaverageofatleastthirty-fivehoursperweekduringthe | |
| 2458 | 2642 | 52taxpayer'staxperiodforwhichthetaxcreditsareearned.Forthepurposesofthissection, | |
| 2459 | 2643 | 53"relatedtaxpayer"hasthesamemeaningasdefinedinsubdivision(10)ofsection135.100; | |
| 2460 | 2644 | 54 (8)Forthepurposeofmeetingtheexistingjobretentionrequirement,iftheeligible | |
| 2461 | 2645 | 55projectreplacesasimilarfacilitythatclosedelsewhereinMissouripriortotheendofthe | |
| 2462 | 2646 | 56taxpayer'staxperiodinwhichthetaxcreditsareearned,itshallberequiredthatatleast | |
| 2463 | 2647 | 57twenty-fiveexistingjobsberetainedat,andinconnectionwiththeeligibleproject,onafull- | |
| 2464 | 2648 | 58timebasisduringthetaxpayer'staxperiodforwhichthecreditsareearned."Retainedjob" | |
| 2465 | 2649 | 59meansapersonwhowaspreviouslyemployedbythetaxpayerorrelatedtaxpayer,atafacility | |
| 2466 | 2650 | 60similartotheeligibleprojectthatclosedelsewhereinMissouripriortotheendofthe | |
| 2467 | 2651 | 61taxpayer'staxperiodinwhichthetaxcreditsareearned,withinthetaxperiodimmediately | |
| 2468 | 2652 | 62precedingthetimethepersonwasemployedbythetaxpayertoworkat,orinconnection | |
| 2469 | 2653 | 63with,theeligibleprojectonafull-timebasis."Full-timebasis"meanstheemployeeworksan | |
| 2470 | 2654 | 64averageofatleastthirty-fivehoursperweekduringthetaxpayer'staxperiodforwhichthe | |
| 2471 | 2655 | 65taxcreditsareearned; | |
| 2472 | 2656 | 66 (9)Inthecasewhereaneligibleprojectreplacesasimilarfacilitythatclosed | |
| 2473 | 2657 | 67elsewhereinMissouripriortotheendofthetaxpayer'staxperiodinwhichthetaxcreditsare | |
| 2474 | 2658 | 68earned,theownerandoperatoroftheeligibleprojectshallprovidethedirectorwithawritten | |
| 2475 | 2659 | 69statementexplainingthereasonfordiscontinuingoperationsattheclosedfacility.The | |
| 2476 | 2660 | 70statementshallincludeacomparisonoftheactivitiesperformedattheclosedfacilitypriorto | |
| 2477 | 2661 | 71thedatethefacilityceasedoperating,totheactivitiesperformedattheeligibleproject,anda | |
| 2478 | 2662 | 72detailedaccountdescribingtheneedandrationaleforrelocatingtotheeligibleproject.Ifthe | |
| 2479 | 2663 | 73directorfindstherelocationtotheeligibleprojectsignificantlyimpairedtheeconomic | |
| 2480 | 2664 | 74stabilityoftheareainwhichtheclosedfacilitywaslocated,andthatsuchmovewas | |
| 2481 | 2665 | 75detrimentaltotheoveralleconomicdevelopmenteffortsofthestate,thedirectormaydeny | |
| 2482 | 2666 | 76thetaxpayer'srequesttoclaimtaxbenefits; | |
| 2483 | 2667 | 77 (10)Notwithstandinganyprovisionoflawtothecontrary,forthepurposeofthis | |
| 2484 | 2668 | 78section,thenumberofnewjobscreatedandmaintained,thenumberofexistingjobsretained, | |
| 2485 | - | 79andthevalueofnewqualifiedinvestmentusedattheeligibleprojectduringanytaxyearshall | |
| 2669 | + | HB2319 73 79andthevalueofnewqualifiedinvestmentusedattheeligibleprojectduringanytaxyearshall | |
| 2486 | 2670 | 80bedeterminedbydividingbytwelve,inthecaseofjobs,thesumofthenumberofindividuals | |
| 2487 | - | ||
| 2671 | + | 81employedattheeligibleproject,orinthecaseofnewqualifiedinvestment,thevalueofnew | |
| 2488 | 2672 | 82qualifiedinvestmentusedattheeligibleproject,onthelastbusinessdayofeachfullcalendar | |
| 2489 | 2673 | 83monthofthetaxyear.Iftheeligibleprojectisinoperationforlessthantheentiretaxyear, | |
| 2490 | 2674 | 84thenumberofnewjobscreatedandmaintained,thenumberofexistingjobsretained,andthe | |
| 2491 | 2675 | 85valueofnewqualifiedinvestmentcreatedattheeligibleprojectduringanytaxyearshallbe | |
| 2492 | 2676 | 86determinedbydividingthesumofthenumberofindividualsemployedattheeligibleproject, | |
| 2493 | 2677 | 87orinthecaseofnewqualifiedinvestment,thevalueofnewqualifiedinvestmentusedatthe | |
| 2494 | 2678 | 88eligibleproject,onthelastbusinessdayofeachfullcalendarmonthduringtheportionofthe | |
| 2495 | 2679 | 89taxyearduringwhichtheeligibleprojectwasinoperation,bythenumberoffullcalendar | |
| 2496 | 2680 | 90monthsduringsuchperiod; | |
| 2497 | 2681 | 91 (11)Forthepurposeofthissection,"newqualifiedinvestment"meansnewbusiness | |
| 2498 | 2682 | 92facilityinvestmentasdefinedandasdeterminedinsubdivision(8)ofsection135.100which | |
| 2499 | 2683 | 93isusedatandinconnectionwiththeeligibleproject.Newqualifiedinvestmentshallnot | |
| 2500 | 2684 | 94includesmalltools,suppliesandinventory."Smalltools"meanstoolsthatareportableand | |
| 2501 | 2685 | 95canbehandheld. | |
| 2502 | 2686 | 96 2.Thedeterminationofthedirectorofeconomicdevelopmentpursuanttosubsection | |
| 2503 | 2687 | 971ofthissectionshallnotaffectrequirementsfortheprospectivepurchasertoobtainthe | |
| 2504 | 2688 | 98approvalofthegrantingofrealpropertytaxabatementbythemunicipalorcounty | |
| 2505 | 2689 | 99governmentwheretheeligibleprojectislocated. | |
| 2506 | 2690 | 100 3.(1)Thedirectorofthedepartmentofeconomicdevelopment,withtheapprovalof | |
| 2507 | 2691 | 101thedirectorofthedepartmentofnaturalresources,may,inadditiontothetaxcreditsallowed | |
| 2508 | 2692 | 102insubsection1ofthissection,grantaremediationtaxcredittotheapplicantforuptoone | |
| 2509 | 2693 | 103hundredpercentofthecostsofmaterials,supplies,equipment,labor,professional | |
| 2510 | 2694 | 104engineering,consultingandarchitecturalfees,permittingfeesandexpenses,demolition, | |
| 2511 | 2695 | 105asbestosabatement,anddirectutilitychargesforperformingthevoluntaryremediation | |
| 2512 | 2696 | 106activitiesforthepreexistinghazardoussubstancecontaminationandreleases,including,but | |
| 2513 | 2697 | 107notlimitedto,thecostsofperformingoperationandmaintenanceoftheremediation | |
| 2514 | 2698 | 108equipmentatthepropertybeyondtheyearinwhichthesystemsandequipmentarebuiltand | |
| 2515 | 2699 | 109installedattheeligibleprojectandthecostsofperformingthevoluntaryremediation | |
| 2516 | 2700 | 110activitiesoveraperiodnotinexcessoffourtaxyearsfollowingthetaxpayer'staxyearin | |
| 2517 | 2701 | 111whichthesystemandequipmentwerefirstputintouseattheeligibleproject,providedthe | |
| 2518 | 2702 | 112remediationactivitiesarethesubjectofaplansubmittedto,andapprovedby,thedirectorof | |
| 2519 | 2703 | 113naturalresourcespursuanttosections260.565to260.575.Thetaxcreditmayalsoincludeup | |
| 2520 | 2704 | 114toonehundredpercentofthecostsofdemolitionthatarenotdirectlypartoftheremediation | |
| 2521 | 2705 | 115activities,providedthatthedemolitionisonthepropertywherethevoluntaryremediation | |
| 2522 | - | 116activitiesareoccurring,thedemolitionisnecessarytoaccomplishtheplanneduseofthe | |
| 2706 | + | HB2319 74 116activitiesareoccurring,thedemolitionisnecessarytoaccomplishtheplanneduseofthe | |
| 2523 | 2707 | 117facilitywheretheremediationactivitiesareoccurring,andthedemolitionispartofa | |
| 2524 | - | ||
| 2708 | + | 118redevelopmentplanapprovedbythemunicipalorcountygovernmentandthedepartmentof | |
| 2525 | 2709 | 119economicdevelopment.Thedemolitionmayoccuronanadjacentpropertyiftheprojectis | |
| 2526 | 2710 | 120locatedinamunicipalitywhichhasapopulationlessthantwentythousandandtheabove | |
| 2527 | 2711 | 121conditionsareotherwisemet.Theadjacentpropertyshallindependentlyqualifyas | |
| 2528 | 2712 | 122abandonedorunderutilized.Theamountofthecreditavailablefordemolitionnotassociated | |
| 2529 | 2713 | 123withremediationcannotexceedthetotalamountofcreditsapprovedforremediation | |
| 2530 | 2714 | 124includingdemolitionrequiredforremediation. | |
| 2531 | 2715 | 125 (2)Theamountofremediationtaxcreditsissuedshallbelimitedtotheleastamount | |
| 2532 | 2716 | 126necessarytocausetheprojecttooccur,asdeterminedbythedirectorofthedepartmentof | |
| 2533 | 2717 | 127economicdevelopment. | |
| 2534 | 2718 | 128 (3)Thedirectormay,withtheapprovalofthedirectorofnaturalresources,extendthe | |
| 2535 | 2719 | 129taxcreditsallowedforperformingvoluntaryremediationmaintenanceactivities,in | |
| 2536 | 2720 | 130incrementsofthree-yearperiods,nottoexceedfiveconsecutivethree-yearperiods.The | |
| 2537 | 2721 | 131taxcreditsallowedinthissubsectionshallbeusedtooffsetthetaximposedbychapter143, | |
| 2538 | 2722 | 132excludingwithholdingtaximposedbysections143.191to143.265,orthetaxotherwise | |
| 2539 | 2723 | 133imposedbychapter147,orthetaxotherwiseimposedbychapter148.Theremediationtax | |
| 2540 | 2724 | 134creditmaybetakeninthesametaxyearinwhichthetaxcreditsarereceivedormaybetaken | |
| 2541 | 2725 | 135overaperiodnottoexceedtwentyyears. | |
| 2542 | 2726 | 136 (4)Theprojectfacilityshallbeprojectedtocreateatleasttennewjobsoratleast | |
| 2543 | 2727 | 137twenty-fiveretainedjobs,oracombinationthereof,asdeterminedbythedepartmentof | |
| 2544 | 2728 | 138economicdevelopment,tobeeligiblefortaxcreditspursuanttothissection. | |
| 2545 | 2729 | 139 (5)Nomorethanseventy-fivepercentofearnedremediationtaxcreditsmaybe | |
| 2546 | 2730 | 140issuedwhentheremediationcostswerepaid,andtheremainingpercentagemaybeissued | |
| 2547 | 2731 | 141whenthedepartmentofnaturalresourcesissuesaletterofcompletionletterorcovenantnot | |
| 2548 | 2732 | 142tosuefollowingcompletionofthevoluntaryremediationactivities.Itshallnotincludeany | |
| 2549 | 2733 | 143costsassociatedwithongoingoperationalenvironmentalcomplianceofthefacilityor | |
| 2550 | 2734 | 144remediationcostsarisingoutofspills,leaks,orotherreleasesarisingoutoftheongoing | |
| 2551 | 2735 | 145businessoperationsofthefacility.Intheeventthedepartmentofnaturalresourcesissuesa | |
| 2552 | 2736 | 146letterofcompletionforaportionofaproperty,animpactedmediasuchassoilor | |
| 2553 | 2737 | 147groundwater,orforasiteoraportionofasiteimprovement,aproratedamountofthe | |
| 2554 | 2738 | 148remainingpercentagemaybereleasedbasedonthepercentageofthetotalsitereceivinga | |
| 2555 | 2739 | 149letterofcompletion. | |
| 2556 | 2740 | 150 4.Intheexerciseofthesounddiscretionofthedirectorofthedepartmentof | |
| 2557 | 2741 | 151economicdevelopmentorthedirector'sdesignee,thetaxcreditsandexemptionsdescribedin | |
| 2558 | 2742 | 152thissectionmaybeterminated,suspendedorrevokediftheeligibleprojectfailstocontinue | |
| 2559 | - | 153tomeettheconditionssetforthinthissection.Inmakingsuchadetermination,thedirector | |
| 2743 | + | HB2319 75 153tomeettheconditionssetforthinthissection.Inmakingsuchadetermination,thedirector | |
| 2560 | 2744 | 154shallconsidertheseverityoftheconditionviolation,actionstakentocorrecttheviolation,the | |
| 2561 | - | ||
| 2745 | + | 155frequencyofanyconditionviolationsandwhethertheactionsexhibitapatternofconductby | |
| 2562 | 2746 | 156theeligiblefacilityownerandoperator.Thedirectorshallalsoconsiderchangesingeneral | |
| 2563 | 2747 | 157economicconditionsandtherecommendationofthedirectorofthedepartmentofnatural | |
| 2564 | 2748 | 158resources,orhisorherdesignee,concerningtheseverity,scope,nature,frequencyandextent | |
| 2565 | 2749 | 159ofanyviolationsoftheenvironmentalcomplianceconditions.Thetaxpayerorperson | |
| 2566 | 2750 | 160claimingthetaxcreditsorexemptionsmayappealthedecisionregardingtermination, | |
| 2567 | 2751 | 161suspensionorrevocationofanytaxcreditorexemptioninaccordancewiththeprocedures | |
| 2568 | 2752 | 162outlinedinsubsections4and5ofsection135.250.Thedirectorofthedepartmentof | |
| 2569 | 2753 | 163economicdevelopmentshallnotifythedirectorsofthedepartmentsofnaturalresourcesand | |
| 2570 | 2754 | 164revenueofthetermination,suspensionorrevocationofanytaxcreditsasdeterminedinthis | |
| 2571 | 2755 | 165sectionorpursuanttotheprovisionsofsection447.716. | |
| 2572 | 2756 | 166 5.Notwithstandinganyprovisionoflawtothecontrary,notaxpayershallearnthetax | |
| 2573 | 2757 | 167credits,exemptionsorrefundotherwiseallowedinsubdivisions(2),(3)and(4)ofsubsection | |
| 2574 | 2758 | 1681ofthissectionandthetaxcreditsotherwiseallowedinsection135.110,orthetaxcredits, | |
| 2575 | 2759 | 169exemptionsandrefundotherwiseallowedinsections135.215,135.220,135.225and135.245, | |
| 2576 | 2760 | 170respectively,forthesamefacilityforthesametaxperiod. | |
| 2577 | 2761 | 171 6.Thetotalamountofthetaxcreditsallowedinsubsection1ofthissectionmaynot | |
| 2578 | 2762 | 172exceedthegreaterof: | |
| 2579 | 2763 | 173 (1)Thatportionofthetaxpayer'sincomeattributedtotheeligibleproject;or | |
| 2580 | 2764 | 174 (2)Onehundredpercentofthetotalbusiness'incometaxiftheeligiblefacilitydoes | |
| 2581 | 2765 | 175notreplaceasimilarfacilitythatclosedelsewhereinMissouripriortotheendofthe | |
| 2582 | 2766 | 176taxpayer'staxperiodinwhichthetaxcreditsareearned,andfurtherprovidedthetaxpayer | |
| 2583 | 2767 | 177doesnotoperateanyotherfacilitiesbesidestheeligibleprojectinMissouri;fiftypercentof | |
| 2584 | 2768 | 178thetotalbusiness'incometaxiftheeligiblefacilityreplacesasimilarfacilitythatclosed | |
| 2585 | 2769 | 179elsewhereinMissouripriortotheendofthetaxpayer'staxperiodinwhichthecreditsare | |
| 2586 | 2770 | 180earned,andfurtherprovidedthetaxpayerdoesnotoperateanyotherfacilitiesbesidesthe | |
| 2587 | 2771 | 181eligibleprojectinMissouri;ortwenty-fivepercentofthetotalbusinessincomeifthetaxpayer | |
| 2588 | 2772 | 182operates,inadditiontotheeligiblefacility,anyotherfacilitiesinMissouri.Innocaseshalla | |
| 2589 | 2773 | 183taxpayeroperatingmorethanoneeligibleprojectinMissouribeallowedtooffsetmorethan | |
| 2590 | 2774 | 184twenty-fivepercentofthetaxpayer'sbusinessincomeinanytaxperiod.Thatportionofthe | |
| 2591 | 2775 | 185taxpayer'sincomeattributedtotheeligibleprojectasreferencedinsubdivision(1)ofthis | |
| 2592 | 2776 | 186subsection,forwhichthecreditsallowedinsections135.110and135.225andsubsection3of | |
| 2593 | 2777 | 187thissectionmayapply,shallbedeterminedinthesamemannerasprescribedinsubdivision | |
| 2594 | 2778 | 188(5)ofsection135.100.Thatportionofthetaxpayer'sfranchisetaxattributedtotheeligible | |
| 2595 | - | 189projectforwhichtheremediationtaxcreditmayoffset,shallbedeterminedinthesame | |
| 2779 | + | HB2319 76 189projectforwhichtheremediationtaxcreditmayoffset,shallbedeterminedinthesame | |
| 2596 | 2780 | 190mannerasprescribedinparagraph(a)ofsubdivision(5)ofsection135.100. | |
| 2597 | - | ||
| 2781 | + | 191 7.Taxpayersclaimingthestatetaxbenefitsallowedinsubdivisions(2)and(3)of | |
| 2598 | 2782 | 192subsection1ofthissectionshallberequiredtofileallapplicabletaxcreditapplications, | |
| 2599 | 2783 | 193formsandschedulesprescribedbythedirectorduringthetaxpayer'staxperiodimmediately | |
| 2600 | 2784 | 194afterthetaxperiodinwhichtheeligibleprojectwasfirstputintouse.Otherwise,the | |
| 2601 | 2785 | 195taxpayer'srighttoclaimsuchstatetaxbenefitsshallbeforfeited.Unusedbusinessfacility | |
| 2602 | 2786 | 196andenterprisezonetaxcreditsshallnotbecarriedforwardbutshallbeinitiallyclaimedfor | |
| 2603 | 2787 | 197thetaxperiodduringwhichtheeligibleprojectwasfirstcapableofbeingused,andduring | |
| 2604 | 2788 | 198anyapplicablesubsequenttaxperiods. | |
| 2605 | 2789 | 199 8.Taxpayersclaimingtheremediationtaxcreditallowedinsubsection3ofthis | |
| 2606 | 2790 | 200sectionshallberequiredtofileallapplicabletaxcreditapplications,formsandschedules | |
| 2607 | 2791 | 201prescribedbythedirectorduringthetaxpayer'staxperiodimmediatelyafterthetaxperiodin | |
| 2608 | 2792 | 202whichtheeligibleprojectwasfirstputintouse,orduringthetaxpayer'staxperiod | |
| 2609 | 2793 | 203immediatelyafterthetaxperiodinwhichthevoluntaryremediationactivitieswere | |
| 2610 | 2794 | 204performed. | |
| 2611 | 2795 | 205 9.Therecipientofremediationtaxcredits,forthepurposeofthissubsectionreferred | |
| 2612 | 2796 | 206toasassignor,mayassign,sellortransfer,inwholeorinpart,theremediationtaxcredit | |
| 2613 | 2797 | 207allowedinsubsection3ofthissectiontoanyotherperson,forthepurposeofthissubsection | |
| 2614 | 2798 | 208referredtoasassignee.Toperfectthetransfer,theassignorshallprovidewrittennoticetothe | |
| 2615 | 2799 | 209directoroftheassignor'sintenttotransferthetaxcreditstotheassignee,thedatethetransfer | |
| 2616 | 2800 | 210iseffective,theassignee'sname,addressandtheassignee'staxperiodandtheamountoftax | |
| 2617 | 2801 | 211creditstobetransferred.Thenumberoftaxperiodsduringwhichtheassigneemay | |
| 2618 | 2802 | 212subsequentlyclaimthetaxcreditsshallnotexceedtwentytaxperiods,lessthenumberoftax | |
| 2619 | 2803 | 213periodstheassignorpreviouslyclaimedthecreditsbeforethetransferoccurred. | |
| 2620 | 2804 | 214 10.Inthecasewhereanoperatorandassignorofaneligibleprojecthasbeencertified | |
| 2621 | 2805 | 215toclaimstatetaxbenefitsallowedinsubdivisions(2)and(3)ofsubsection1ofthissection, | |
| 2622 | 2806 | 216andsellsorotherwisetransferstitleoftheeligibleprojecttoanothertaxpayerorassigneewho | |
| 2623 | 2807 | 217continuesthesameorsubstantiallysimilaroperationsattheeligibleproject,thedirectorshall | |
| 2624 | 2808 | 218allowtheassigneetoclaimthecreditsforaperiodoftimetobedeterminedbythedirector; | |
| 2625 | 2809 | 219exceptthat,thetotalnumberoftaxperiodsthetaxcreditsmaybeearnedbytheassignorand | |
| 2626 | 2810 | 220theassigneeshallnotexceedten.Toperfectthetransfer,theassignorshallprovidewritten | |
| 2627 | 2811 | 221noticetothedirectoroftheassignor'sintenttotransferthetaxcreditstotheassignee,thedate | |
| 2628 | 2812 | 222thetransferiseffective,theassignee'sname,address,andtheassignee'staxperiod,andthe | |
| 2629 | 2813 | 223amountoftaxcreditstobetransferred. | |
| 2630 | - | 224 11.Forthepurposeofthestatetaxbenefitsdescribedinthissection,inthecaseofa | |
| 2814 | + | HB2319 77 224 11.Forthepurposeofthestatetaxbenefitsdescribedinthissection,inthecaseofa | |
| 2631 | 2815 | 225corporationdescribedinsection143.471orpartnership,incomputingMissouri'staxliability, | |
| 2632 | 2816 | 226suchstatebenefitsshallbeallowedtothefollowing: | |
| 2633 | 2817 | 227 (1)Theshareholdersofthecorporationdescribedinsection143.471; | |
| 2634 | - | ||
| 2818 | + | 228 (2)Thepartnersofthepartnership. | |
| 2635 | 2819 | 229 | |
| 2636 | 2820 | 230Thecreditprovidedinthissubsectionshallbeapportionedtotheentitiesdescribedin | |
| 2637 | 2821 | 231subdivisions(1)and(2)ofthissubsectioninproportiontotheirshareofownershiponthelast | |
| 2638 | 2822 | 232dayofthetaxpayer'staxperiod. | |
| 2639 | 2823 | 233 12.Notwithstandinganyprovisionoflawtothecontrary,inanycounty[ofthefirst | |
| 2640 | 2824 | 234classification] thathasacharterformofgovernmentandthathasapopulationofovernine | |
| 2641 | 2825 | 235hundredthousandinhabitants,alldemolitioncostsincurredduringtheredevelopmentofany | |
| 2642 | 2826 | 236formerautomobilemanufacturingplantshallbeallowablecostseligiblefortaxcreditsunder | |
| 2643 | 2827 | 237sections447.700to447.718solongastheredevelopmentofsuchformerautomobile | |
| 2644 | 2828 | 238manufacturingplantshallbeprojectedtocreateatleasttwohundredfiftynewjobsoratleast | |
| 2645 | 2829 | 239threehundredretainedjobs,oracombinationthereof,asdeterminedbythedepartmentof | |
| 2646 | 2830 | 240economicdevelopment.Theamountofallowablecostseligiblefortaxcreditsshallbe | |
| 2647 | 2831 | 241limitedtotheleastamountnecessarytocausetheprojecttooccur,asdeterminedbythe | |
| 2648 | 2832 | 242directorofthedepartmentofeconomicdevelopment,providedthatnotaxcreditshallbe | |
| 2649 | 2833 | 243issuedunderthissubsectionuntilJuly1,2017.Forpurposesofthissubsection,"former | |
| 2650 | 2834 | 244automobilemanufacturingplant"meansaredevelopmentareathatqualifiesasaneligible | |
| 2651 | 2835 | 245projectundersection447.700,thatconsistsofatleastonehundredacres,andthatwasused | |
| 2652 | 2836 | 246primarilyforthemanufactureofautomobilesbut,after2007,ceasedsuchmanufacturing. | |
| 2653 | 2837 | 247 13.Undersection23.253oftheMissourisunsetact: | |
| 2654 | 2838 | 248 (1)Theprovisionsofthetaxcreditprogramsauthorizedunderthissectionshall | |
| 2655 | - | ||
| 2839 | + | 249automaticallysunsetonDecember31,2030,unlessreauthorizedbyanactofthegeneral | |
| 2656 | 2840 | 250assembly; | |
| 2657 | 2841 | 251 (2)Ifsuchtaxcreditprogramsarereauthorized,theprogramsauthorizedunder | |
| 2658 | - | ||
| 2659 | - | ||
| 2660 | - | 254 (3) | |
| 2661 | - | ||
| 2662 | - | ||
| 2663 | - | 257 (4)Theprovisionsofthissubsectionshallnotbeconstruedtolimitorinanyway | |
| 2842 | + | 252thissectionshallautomaticallysunsetonDecemberthirty-first,sixyearsafterthe | |
| 2843 | + | 253effectivedateofthereauthorizationofthissection; | |
| 2844 | + | 254 (3)ThissectionshallterminateonSeptemberfirstofthecalendaryear | |
| 2845 | + | 255immediatelyfollowingthecalendaryearinwhichtheprogramsauthorizedunderthis | |
| 2846 | + | 256sectionissunset;and | |
| 2847 | + | HB2319 78 257 (4)Theprovisionsofthissubsectionshallnotbeconstruedtolimitorinanyway | |
| 2664 | 2848 | 258impairataxpayer'sabilitytoredeemtaxcreditsauthorizedonorbeforethedatethe | |
| 2665 | 2849 | 259programauthorizedunderthissectionexpires. | |
| 2666 | - | [99.1205.1.Thissectionshallbeknownandmaybecitedasthe | |
| 2667 | - | 2 "DistressedAreasLandAssemblageTaxCreditAct". | |
| 2668 | - | 3 2.Asusedinthissection,thefollowingtermsmean: | |
| 2669 | - | 4 (1)"Acquisitioncosts",thepurchasepricefortheeligibleparcel,costs | |
| 2670 | - | 5 ofenvironmentalassessments,closingcosts,realestatebrokeragefees, | |
| 2671 | - | 6 reasonabledemolitioncostsofvacantstructures,andreasonablemaintenance | |
| 2672 | - | HCSHB2319 73 7 costsincurredtomaintainanacquiredeligibleparcelforaperiodoffiveyears | |
| 2673 | - | 8 aftertheacquisitionofsucheligibleparcel.Acquisitioncostsshallnotinclude | |
| 2674 | - | 9 costsfortitleinsuranceandsurvey,attorney'sfees,relocationcosts,fines,or | |
| 2675 | - | 10 billsfromamunicipality; | |
| 2676 | - | 11 (2)"Applicant",anyperson,firm,partnership,trust,limitedliability | |
| 2677 | - | 12 company,orcorporationwhichhas: | |
| 2678 | - | 13 (a)Incurred,withinaneligibleprojectarea,acquisitioncostsforthe | |
| 2679 | - | 14 acquisitionoflandsufficienttosatisfytherequirementsundersubdivision(8) | |
| 2680 | - | 15 ofthissubsection;and | |
| 2681 | - | 16 (b)Beenappointedorselected,pursuanttoaredevelopment | |
| 2682 | - | 17 agreementbyamunicipalauthority,asaredeveloperorsimilardesignation, | |
| 2683 | - | 18 underaneconomicincentivelaw,toredevelopanurbanrenewalareaora | |
| 2684 | - | 19 redevelopmentareathatincludesallofaneligibleprojectareaorwhose | |
| 2685 | - | 20 redevelopmentplanorredevelopmentarea,whichencompassesallofan | |
| 2686 | - | 21 eligibleprojectarea,hasbeenapprovedoradoptedunderaneconomic | |
| 2687 | - | 22 incentivelaw.Inadditiontobeingdesignatedtheredeveloper,theapplicant | |
| 2688 | - | 23 shallhavebeendesignatedtoreceiveeconomicincentivesonlyafterthe | |
| 2689 | - | 24 municipalauthorityhasconsideredtheamountofthetaxcreditsinadopting | |
| 2690 | - | 25 sucheconomicincentivesasprovidedinsubsection8ofthissection.The | |
| 2691 | - | 26 redevelopmentagreementshallprovidethat: | |
| 2692 | - | 27 a.Thefundsgeneratedthroughtheuseorsaleofthetaxcreditsissued | |
| 2693 | - | 28 underthissectionshallbeusedtoredeveloptheeligibleprojectarea; | |
| 2694 | - | 29 b.Nomorethanseventy-fivepercentoftheurbanrenewalarea | |
| 2695 | - | 30 identifiedintheurbanrenewalplanortheredevelopmentareaidentifiedinthe | |
| 2696 | - | 31 redevelopmentplanmayberedevelopedbytheapplicant;and | |
| 2697 | - | 32 c.Theremainderoftheurbanrenewalareaortheredevelopmentarea | |
| 2698 | - | 33 shallberedevelopedbyco-redevelopersorredeveloperstowhomthe | |
| 2699 | - | 34 applicanthasassigneditsredevelopmentrightsandobligationsunderthe | |
| 2700 | - | 35 urbanrenewalplanortheredevelopmentplan; | |
| 2701 | - | 36 (3)"Certificate",ataxcreditcertificateissuedunderthissection; | |
| 2702 | - | 37 (4)"Condemnationproceedings",anyactiontakenby,oronbehalfof, | |
| 2703 | - | 38 anapplicanttoinitiateanactioninacourtofcompetentjurisdictiontousethe | |
| 2704 | - | 39 powerofeminentdomaintoacquireaparcelwithintheeligibleprojectarea. | |
| 2705 | - | 40 Condemnationproceedingsshallincludeanyandallactionstakenafterthe | |
| 2706 | - | 41 submissionofanoticeofintendedacquisitiontoanownerofaparcelwithin | |
| 2707 | - | 42 theeligibleprojectareabyamunicipalauthorityoranyotherpersonorentity | |
| 2708 | - | 43 undersection523.250; | |
| 2709 | - | 44 (5)"Department",theMissouridepartmentofeconomicdevelopment; | |
| 2710 | - | 45 (6)"Economicincentivelaws",anyprovisionofMissourilaw | |
| 2711 | - | 46 pursuanttowhicheconomicincentivesareprovidedtoredevelopersofa | |
| 2712 | - | 47 parcelorparcelstoredeveloptheland,suchastaxabatementorpaymentsin | |
| 2713 | - | 48 lieuoftaxes,orredevelopmentplansorredevelopmentprojectsapprovedor | |
| 2714 | - | 49 adoptedwhichincludetheuseofeconomicincentivestoredeveloptheland. | |
| 2715 | - | 50 Economicincentivelawsinclude,butarenotlimitedto,thelandclearancefor | |
| 2716 | - | 51 redevelopmentauthoritylawundersections99.300to99.660,therealproperty | |
| 2717 | - | 52 taxincrementallocationredevelopmentactundersections99.800to99.865, | |
| 2718 | - | 53 theMissouridowntownandruraleconomicstimulusactundersections99.915 | |
| 2719 | - | HCSHB2319 74 54 to99.1060,andthedowntownrevitalizationpreservationprogramunder | |
| 2720 | - | 55 sections99.1080to99.1092; | |
| 2721 | - | 56 (7)"Eligibleparcel",aparcel: | |
| 2722 | - | 57 (a)Whichislocatedwithinaneligibleprojectarea; | |
| 2723 | - | 58 (b)Whichistoberedeveloped; | |
| 2724 | - | 59 (c)Onwhichtheapplicanthasnotcommencedconstructionpriorto | |
| 2725 | - | 60 November28,2007; | |
| 2726 | - | 61 (d)Whichhasbeenacquiredwithoutthecommencementofany | |
| 2727 | - | 62 condemnationproceedingswithrespecttosuchparcelbroughtbyoronbehalf | |
| 2728 | - | 63 oftheapplicant.Anyparcelacquiredbytheapplicantfromamunicipal | |
| 2729 | - | 64 authorityshallnotconstituteaneligibleparcel;and | |
| 2730 | - | 65 (e)Onwhichalloutstandingtaxes,fines,andbillsleviedbymunicipal | |
| 2731 | - | 66 governmentsthatwereleviedbythemunicipalityduringthetimeperiodthat | |
| 2732 | - | 67 theapplicantheldtitletotheeligibleparcelhavebeenpaidinfull; | |
| 2733 | - | 68 (8)"Eligibleprojectarea",anareawhichshallhavesatisfiedthe | |
| 2734 | - | 69 followingrequirements: | |
| 2735 | - | 70 (a)Theeligibleprojectareashallconsistofatleastseventy-fiveacres | |
| 2736 | - | 71 andmayincludeparcelswithinitsboundariesthatdonotconstituteaneligible | |
| 2737 | - | 72 parcel; | |
| 2738 | - | 73 (b)Atleasteightypercentoftheeligibleprojectareashallbelocated | |
| 2739 | - | 74 withinaMissouriqualifiedcensustractarea,asdesignatedbytheUnited | |
| 2740 | - | 75 StatesDepartmentofHousingandUrbanDevelopmentunder26U.S.C. | |
| 2741 | - | 76 Section42,orwithinadistressedcommunityasthattermisdefinedinsection | |
| 2742 | - | 77 135.530; | |
| 2743 | - | 78 (c)Theeligibleparcelsacquiredbytheapplicantwithintheeligible | |
| 2744 | - | 79 projectareashalltotalatleastfiftyacres,whichmayconsistofcontiguousand | |
| 2745 | - | 80 noncontiguousparcels; | |
| 2746 | - | 81 (d)Theaveragenumberofparcelsperacreinaneligibleprojectarea | |
| 2747 | - | 82 shallbefourormore; | |
| 2748 | - | 83 (e)Lessthanfivepercentoftheacreagewithintheboundariesofthe | |
| 2749 | - | 84 eligibleprojectareashallconsistofowner-occupiedresidenceswhichthe | |
| 2750 | - | 85 applicanthasidentifiedforacquisitionundertheurbanrenewalplanorthe | |
| 2751 | - | 86 redevelopmentplanpursuanttowhichtheapplicantwasappointedorselected | |
| 2752 | - | 87 astheredeveloperorbywhichthepersonorentitywasqualifiedasan | |
| 2753 | - | 88 applicantunderthissectiononthedateoftheapprovaloradoptionofsuch | |
| 2754 | - | 89 plan; | |
| 2755 | - | 90 (9)"Interestcosts",interest,loanfees,andclosingcosts.Interestcosts | |
| 2756 | - | 91 shallnotincludeattorney'sfees; | |
| 2757 | - | 92 (10)"Maintenancecosts",costsofboardingupandsecuringvacant | |
| 2758 | - | 93 structures,costsofremovingtrash,andcostsofcuttinggrassandweeds; | |
| 2759 | - | 94 (11)"Municipalauthority",anycity,town,village,county,public | |
| 2760 | - | 95 bodycorporateandpolitic,politicalsubdivision,orlandtrustofthisstate | |
| 2761 | - | 96 establishedandauthorizedtoownlandwithinthestate; | |
| 2762 | - | 97 (12)"Municipality",anycity,town,village,orcounty; | |
| 2763 | - | 98 (13)"Parcel",asinglelotortractofland,andtheimprovements | |
| 2764 | - | 99 thereon,ownedby,orrecordedasthepropertyof,oneormorepersonsor | |
| 2765 | - | 100 entities; | |
| 2766 | - | HCSHB2319 75 101 (14)"Redeveloped",theprocessofundertakingandcarryingouta | |
| 2767 | - | 102 redevelopmentplanorurbanrenewalplanpursuanttowhichtheconditions | |
| 2768 | - | 103 whichprovidedthebasisforaneligibleprojectareatobeincludedina | |
| 2769 | - | 104 redevelopmentplanorurbanrenewalplanaretobereducedoreliminatedby | |
| 2770 | - | 105 redevelopmentorrehabilitation;and | |
| 2771 | - | 106 (15)"Redevelopmentagreement",theredevelopmentagreementor | |
| 2772 | - | 107 similaragreementintowhichtheapplicantenteredwithamunicipalauthority | |
| 2773 | - | 108 andwhichistheagreementfortheimplementationoftheurbanrenewalplan | |
| 2774 | - | 109 orredevelopmentplanpursuanttowhichtheapplicantwasappointedor | |
| 2775 | - | 110 selectedastheredeveloperorbywhichthepersonorentitywasqualifiedasan | |
| 2776 | - | 111 applicantunderthissection;andsuchappointmentorselectionshallhavebeen | |
| 2777 | - | 112 approvedbyanordinanceofthegoverningbodyofthemunicipality,or | |
| 2778 | - | 113 municipalities,orinthecaseofanycitynotwithinacounty,theboardof | |
| 2779 | - | 114 aldermen,inwhichtheeligibleprojectareaislocated.Theredevelopment | |
| 2780 | - | 115 agreementshallincludeatimelineforredevelopmentoftheeligibleproject | |
| 2781 | - | 116 area.Theredevelopmentagreementshallstatethatthenameddevelopershall | |
| 2782 | - | 117 besubjecttotheprovisionsofchapter290. | |
| 2783 | - | 118 3.Anyapplicantshallbeentitledtoataxcreditagainstthetaxes | |
| 2784 | - | 119 imposedunderchapters143,147,and148,exceptforsections143.191to | |
| 2785 | - | 120 143.265,inanamountequaltofiftypercentoftheacquisitioncosts,andone | |
| 2786 | - | 121 hundredpercentoftheinterestcostsincurredforaperiodoffiveyearsafter | |
| 2787 | - | 122 theacquisitionofaneligibleparcel.Notaxcreditsshallbeissuedunderthis | |
| 2788 | - | 123 sectionuntilafterJanuary1,2008. | |
| 2789 | - | 124 4.Iftheamountofsuchtaxcreditexceedsthetotaltaxliabilityforthe | |
| 2790 | - | 125 yearinwhichtheapplicantisentitledtoreceiveataxcredit,theamountthat | |
| 2791 | - | 126 exceedsthestatetaxliabilitymaybecarriedforwardforcreditagainstthe | |
| 2792 | - | 127 taxesimposedunderchapters143,147,and148forthesucceedingsixyears, | |
| 2793 | - | 128 oruntilthefullcreditisused,whicheveroccursfirst.Theapplicantshallnot | |
| 2794 | - | 129 beentitledtoataxcreditfortaxesimposedundersections143.191to143.265. | |
| 2795 | - | 130 Applicantsentitledtoreceivesuchtaxcreditsmaytransfer,sell,orassignthe | |
| 2796 | - | 131 taxcredits.Taxcreditsgrantedtoapartnership,alimitedliabilitycompany | |
| 2797 | - | 132 taxedasapartnership,ormultipleownersofpropertyshallbepassedthrough | |
| 2798 | - | 133 tothepartners,members,orownersrespectivelyprorataorpursuanttoan | |
| 2799 | - | 134 executedagreementamongthepartners,members,orownersdocumentingan | |
| 2800 | - | 135 alternatedistributionmethod. | |
| 2801 | - | 136 5.Apurchaser,transferee,orassigneeofthetaxcreditsauthorized | |
| 2802 | - | 137 underthissectionmayuseacquiredtaxcreditstooffsetuptoonehundred | |
| 2803 | - | 138 percentofthetaxliabilitiesotherwiseimposedunderchapters143,147,and | |
| 2804 | - | 139 148,exceptforsections143.191to143.265.Aseller,transferor,orassignor | |
| 2805 | - | 140 shallperfectsuchtransferbynotifyingthedepartmentinwritingwithinthirty | |
| 2806 | - | 141 calendardaysfollowingtheeffectivedateofthetransferandshallprovideany | |
| 2807 | - | 142 informationasmayberequiredbythedepartmenttoadministerandcarryout | |
| 2808 | - | 143 theprovisionsofthissection. | |
| 2809 | - | 144 6.Toclaimtaxcreditsauthorizedunderthissection,anapplicantshall | |
| 2810 | - | 145 submittothedepartmentanapplicationforacertificate.Anapplicantshall | |
| 2811 | - | 146 identifytheboundariesoftheeligibleprojectareaintheapplication.The | |
| 2812 | - | 147 departmentshallverifythattheapplicanthassubmittedavalidapplicationin | |
| 2813 | - | 148 theformandformatrequiredbythedepartment.Thedepartmentshallverify | |
| 2814 | - | HCSHB2319 76 149 thatthemunicipalauthorityheldtherequisitehearingsandgavetherequisite | |
| 2815 | - | 150 noticesforsuchhearingsinaccordancewiththeapplicableeconomicincentive | |
| 2816 | - | 151 act,andmunicipalordinances.Onanannualbasis,anapplicantmayfilefor | |
| 2817 | - | 152 thetaxcreditfortheacquisitioncosts,andforthetaxcreditfortheinterest | |
| 2818 | - | 153 costs,subjecttothelimitationsofthissection.Ifanapplicantapplyingforthe | |
| 2819 | - | 154 taxcreditmeetsthecriteriarequiredunderthissection,thedepartmentshall | |
| 2820 | - | 155 issueacertificateintheappropriateamount.Ifanapplicantreceivesatax | |
| 2821 | - | 156 creditformaintenancecostsasapartoftheapplicant'sacquisitioncosts,the | |
| 2822 | - | 157 departmentshallpostonitsinternetwebsitetheamountandtypeof | |
| 2823 | - | 158 maintenancecostsandadescriptionoftheredevelopmentprojectforwhich | |
| 2824 | - | 159 theapplicantreceivedataxcreditwithinthirtydaysafterthedepartment | |
| 2825 | - | 160 issuesthecertificatetotheapplicant. | |
| 2826 | - | 161 7.Thetotalaggregateamountoftaxcreditsauthorizedunderthis | |
| 2827 | - | 162 sectionshallnotexceedninety-fivemilliondollars.Atnotimeshallthe | |
| 2828 | - | 163 annualamountofthetaxcreditsissuedunderthissectionexceedtwenty | |
| 2829 | - | 164 milliondollars.Ifthetaxcreditsthataretobeissuedunderthissection | |
| 2830 | - | 165 exceed,inanyyear,thetwentymilliondollarlimitation,thedepartmentshall | |
| 2831 | - | 166 either: | |
| 2832 | - | 167 (1)Issuetaxcreditstotheapplicantintheamountoftwentymillion | |
| 2833 | - | 168 dollars,ifthereisonlyoneapplicantentitledtoreceivetaxcreditsinthatyear; | |
| 2834 | - | 169 or | |
| 2835 | - | 170 (2)Issuethetaxcreditsonaproratabasistoallapplicantsentitledto | |
| 2836 | - | 171 receivetaxcreditsinthatyear.Anyamountoftaxcredits,whichanapplicant | |
| 2837 | - | 172 is,orapplicantsare,entitledtoreceiveonanannualbasisandarenotissued | |
| 2838 | - | 173 duetothetwentymilliondollarlimitation,shallbecarriedforwardforthe | |
| 2839 | - | 174 benefitoftheapplicantorapplicantstosubsequentyears. | |
| 2840 | - | 175 | |
| 2841 | - | 176 NotaxcreditsprovidedunderthissectionshallbeauthorizedafterAugust28, | |
| 2842 | - | 177 2013.AnytaxcreditswhichhavebeenauthorizedonorbeforeAugust28, | |
| 2843 | - | 178 2013,butnotissued,maybeissued,subjecttothelimitationsprovidedunder | |
| 2844 | - | 179 thissubsection,untilallsuchauthorizedtaxcreditshavebeenissued. | |
| 2845 | - | 180 8.Uponissuanceofanytaxcreditspursuanttothissection,the | |
| 2846 | - | 181 departmentshallreporttothemunicipalauthoritytheapplicant'snameand | |
| 2847 | - | 182 address,theparcelnumbersoftheeligibleparcelsforwhichthetaxcredits | |
| 2848 | - | 183 wereissued,theitemizedacquisitioncostsandinterestcostsforwhichtax | |
| 2849 | - | 184 creditswereissued,andthetotalvalueofthetaxcreditsissued.Themunicipal | |
| 2850 | - | 185 authorityandthestateshallnotconsidertheamountofthetaxcreditsasan | |
| 2851 | - | 186 applicant'scost,butshallincludethetaxcreditsinanysourcesandusesand | |
| 2852 | - | 187 costbenefitanalysisreviewedorcreatedforthepurposeofawardingother | |
| 2853 | - | 188 economicincentives.Theamountofthetaxcreditsshallnotbeconsideredan | |
| 2854 | - | 189 applicant'scostintheevaluationoftheamountofanyawardofanyother | |
| 2855 | - | 190 economicincentives,butshallbeconsideredinmeasuringthereasonableness | |
| 2856 | - | 191 oftherateofreturntotheapplicantwithrespecttosuchawardofother | |
| 2857 | - | 192 economicincentives.Themunicipalauthorityshallprovidethereporttoany | |
| 2858 | - | 193 relevantcommission,board,orentityresponsiblefortheevaluationand | |
| 2859 | - | 194 recommendationorapprovalofothereconomicincentivestoassistinthe | |
| 2860 | - | 195 redevelopmentoftheeligibleprojectarea.Taxcreditsauthorizedunderthis | |
| 2861 | - | 196 sectionshallconstituteredevelopmenttaxcredits,assuchtermisdefined | |
| 2862 | - | HCSHB2319 77 197 undersection135.800,andshallbesubjecttoallprovisionsapplicableto | |
| 2863 | - | 198 redevelopmenttaxcreditsprovidedundersections135.800to135.830. | |
| 2864 | - | 199 9.Thedepartmentmaypromulgaterulestoimplementtheprovisions | |
| 2865 | - | 200 ofthissection.Anyruleorportionofarule,asthattermisdefinedinsection | |
| 2866 | - | 201 536.010,thatiscreatedundertheauthoritydelegatedinthissectionshall | |
| 2867 | - | 202 becomeeffectiveonlyifitcomplieswithandissubjecttoalloftheprovisions | |
| 2868 | - | 203 ofchapter536and,ifapplicable,section536.028.Thissectionandchapter | |
| 2869 | - | 204 536arenonseverableandifanyofthepowersvestedwiththegeneral | |
| 2870 | - | 205 assemblypursuanttochapter536toreview,todelaytheeffectivedate,orto | |
| 2871 | - | 206 disapproveandannularulearesubsequentlyheldunconstitutional,thenthe | |
| 2872 | - | 207 grantofrulemakingauthorityandanyruleproposedoradoptedafterAugust | |
| 2873 | - | 208 28,2007,shallbeinvalidandvoid.] | |
| 2874 | - | [135.313.1.Anyperson,firmorcorporationwhoengagesinthe | |
| 2875 | - | 2 businessofproducingcharcoalorcharcoalproductsinthestateofMissouri | |
| 2876 | - | 3 shallbeeligibleforataxcreditonincometaxesotherwiseduepursuantto | |
| 2877 | - | 4 chapter143,exceptsections143.191to143.261,asanincentivetoimplement | |
| 2878 | - | 5 safeandefficientenvironmentalcontrols.Thetaxcreditshallbeequaltofifty | |
| 2879 | - | 6 percentofthepurchasepriceofthebestavailablecontroltechnology | |
| 2880 | - | 7 equipmentconnectedwiththeproductionofcharcoalinthestateofMissouri | |
| 2881 | - | 8 or,ifthetaxpayermanufacturessuchequipment,fiftypercentofthe | |
| 2882 | - | 9 manufacturingcostoftheequipment,toandincludingtheyearthe | |
| 2883 | - | 10 equipmentisputintoservice.Thecreditmaybeclaimedforaperiodof | |
| 2884 | - | 11 eightyearsbeginningwiththe1998calendaryearandistobeataxcredit | |
| 2885 | - | 12 againstthetaxotherwisedue. | |
| 2886 | - | 13 2.Anyamountofcreditwhichexceedsthetaxdueshallnotbe | |
| 2887 | - | 14 refundedbutmaybecarriedovertoanysubsequenttaxableyear,nottoexceed | |
| 2888 | - | 15 sevenyears. | |
| 2889 | - | 16 3.Thecharcoalproducermayelecttoassigntoathirdpartythe | |
| 2890 | - | 17 approvedtaxcredit.Certificationofassignmentandotherappropriateforms | |
| 2891 | - | 18 mustbefiledwiththeMissouridepartmentofrevenueandthedepartmentof | |
| 2892 | - | 19 economicdevelopment. | |
| 2893 | - | 20 4.Whenapplyingforataxcredit,thecharcoalproducerspecifiedin | |
| 2894 | - | 21 subsection1ofthissectionshallmakeapplicationforthecredittothedivision | |
| 2895 | - | 22 ofenvironmentalqualityofthedepartmentofnaturalresources.The | |
| 2896 | - | 23 applicationshallidentifythespecificbestavailablecontroltechnology | |
| 2897 | - | 24 equipmentandthepurchaseprice,ormanufacturingcostofsuchequipment. | |
| 2898 | - | 25 Thedirectorofthedepartmentofnaturalresourcesisauthorizedtorequire | |
| 2899 | - | 26 permitstoconstructpriortotheinstallationofbestavailablecontrol | |
| 2900 | - | 27 technologyequipmentandotherinformationwhichheorshedeems | |
| 2901 | - | 28 appropriate. | |
| 2902 | - | 29 5.Thedirectorofthedepartmentofnaturalresourcesinconjunction | |
| 2903 | - | 30 withthedepartmentofeconomicdevelopmentshallcertifytothedepartment | |
| 2904 | - | 31 ofrevenuethatthebestavailablecontroltechnologyequipmentmeetsthe | |
| 2905 | - | 32 requirementstoobtainataxcreditasspecifiedinthissection.] | |
| 2906 | - | [135.403.1.Anyinvestorwhomakesaqualifiedinvestmentina | |
| 2907 | - | 2 Missourismallbusinessshallbeentitledtoreceiveataxcreditequaltoforty | |
| 2908 | - | HCSHB2319 78 3 percentoftheamountoftheinvestmentor,inthecaseofaqualified | |
| 2909 | - | 4 investmentinaMissourismallbusinessinadistressedcommunityasdefined | |
| 2910 | - | 5 bysection135.530,acreditequaltosixtypercentoftheamountofthe | |
| 2911 | - | 6 investment,andanyinvestorwhomakesaqualifiedinvestmentina | |
| 2912 | - | 7 communitybankoracommunitydevelopmentcorporationshallbeentitled | |
| 2913 | - | 8 toreceiveataxcreditequaltofiftypercentoftheamountoftheinvestmentif | |
| 2914 | - | 9 theinvestmentismadeinacommunitybankorcommunitydevelopment | |
| 2915 | - | 10 corporationfordirectinvestment.Thetotalamountoftaxcreditsavailablefor | |
| 2916 | - | 11 qualifiedinvestmentsinMissourismallbusinessesshallnotexceedthirteen | |
| 2917 | - | 12 milliondollarsandatleastfourmilliondollarsoftheamountauthorizedby | |
| 2918 | - | 13 thissectionandcertifiedbythedepartmentofeconomicdevelopmentshallbe | |
| 2919 | - | 14 forinvestmentinMissourismallbusinessesindistressedcommunities. | |
| 2920 | - | 15 Authorizationforalloranypartofthisfour-million-dollaramountshallinno | |
| 2921 | - | 16 wayrestricttheeligibilityofMissourismallbusinessesindistressed | |
| 2922 | - | 17 communities,asdefinedinsection135.530,fortheremainingamounts | |
| 2923 | - | 18 authorizedwithinthissection.Nomorethantwentypercentofthetaxcredits | |
| 2924 | - | 19 availableeachyearforinvestmentsincommunitybanksorcommunity | |
| 2925 | - | 20 developmentcorporationsfordirectinvestmentshallbecertifiedforanyone | |
| 2926 | - | 21 project,asdefinedinsection135.400.Thetaxcreditshallbeevidencedbya | |
| 2927 | - | 22 taxcreditcertificateinaccordancewiththeprovisionsofsections135.400to | |
| 2928 | - | 23 135.430andmaybeusedtosatisfythestatetaxliabilityoftheownerofthe | |
| 2929 | - | 24 certificatethatbecomesdueinthetaxyearinwhichthequalifiedinvestmentis | |
| 2930 | - | 25 made,orinanyofthetentaxyearsthereafter.Whenthequalifiedsmall | |
| 2931 | - | 26 businessisinadistressedcommunity,asdefinedinsection135.530,thetax | |
| 2932 | - | 27 creditmayalsobeusedtosatisfythestatetaxliabilityoftheownerofthe | |
| 2933 | - | 28 certificatethatwasdueduringeachofthepreviousthreeyearsinadditionto | |
| 2934 | - | 29 theyearinwhichtheinvestmentismadeandanyofthetenyearsthereafter. | |
| 2935 | - | 30 Noinvestormayreceiveataxcreditpursuanttosections135.400to135.430 | |
| 2936 | - | 31 unlessthatpersonpresentsataxcreditcertificatetothedepartmentofrevenue | |
| 2937 | - | 32 forpaymentofsuchstatetaxliability.Thedepartmentofrevenueshallgrant | |
| 2938 | - | 33 taxcreditsinthesameorderasestablishedbysubsection1ofsection32.115. | |
| 2939 | - | 34 Subjecttotheprovisionsofsections135.400to135.430,certificatesoftax | |
| 2940 | - | 35 creditissuedinaccordancewiththesesectionsmaybetransferred,soldor | |
| 2941 | - | 36 assignedbynotarizedendorsementthereofwhichnamesthetransferee. | |
| 2942 | - | 37 2.Fivehundredthousanddollarsintaxcreditsshallbeavailable | |
| 2943 | - | 38 annuallyfromthetotalamountoftaxcreditsauthorizedbysection32.110and | |
| 2944 | - | 39 subdivision(4)ofsubsection2ofsection32.115asaresultofinvestmentsin | |
| 2945 | - | 40 communitybanksorcommunitydevelopmentcorporations.Aggregate | |
| 2946 | - | 41 investmentseligiblefortaxcreditsinanyoneMissourismallbusinessshall | |
| 2947 | - | 42 notbemorethanonemilliondollars.Aggregateinvestmentseligiblefortax | |
| 2948 | - | 43 creditsinanyoneMissourismallbusinessshallnotbelessthanfivethousand | |
| 2949 | - | 44 dollarsasofthedateofissuanceofthefirsttaxcreditcertificateforinvestment | |
| 2950 | - | 45 inthatbusiness. | |
| 2951 | - | 46 3.Thissectionandsection620.1039shallbecomeeffectiveJanuary1, | |
| 2952 | - | 47 2001.] | |
| 2953 | - | [135.500.1.Sections135.500to135.529shallbeknownandmaybe | |
| 2954 | - | 2 citedasthe"MissouriCertifiedCapitalCompanyLaw". | |
| 2955 | - | HCSHB2319 79 3 2.Asusedinsections135.500to135.529,thefollowingtermsmean: | |
| 2956 | - | 4 (1)"Affiliateofacertifiedcompany": | |
| 2957 | - | 5 (a)Anyperson,directlyorindirectlyowning,controllingorholding | |
| 2958 | - | 6 powertovotetenpercentormoreoftheoutstandingvotingsecuritiesorother | |
| 2959 | - | 7 ownershipinterestsoftheMissouricertifiedcapitalcompany; | |
| 2960 | - | 8 (b)Anypersontenpercentormoreofwhoseoutstandingvoting | |
| 2961 | - | 9 securitiesorotherownershipinterestaredirectlyorindirectlyowned, | |
| 2962 | - | 10 controlledorheldwithpowertovotebytheMissouricertifiedcapital | |
| 2963 | - | 11 company; | |
| 2964 | - | 12 (c)Anypersondirectlyorindirectlycontrolling,controlledby,or | |
| 2965 | - | 13 undercommoncontrolwiththeMissouricertifiedcapitalcompany; | |
| 2966 | - | 14 (d)ApartnershipinwhichtheMissouricertifiedcapitalcompanyisa | |
| 2967 | - | 15 generalpartner; | |
| 2968 | - | 16 (e)Anypersonwhoisanofficer,directororagentoftheMissouri | |
| 2969 | - | 17 certifiedcapitalcompanyoranimmediatefamilymemberofsuchofficer, | |
| 2970 | - | 18 directororagent; | |
| 2971 | - | 19 (2)"Applicablepercentage",onehundredpercent; | |
| 2972 | - | 20 (3)"CapitalinaqualifiedMissouribusiness",anydebt,equityor | |
| 2973 | - | 21 hybridsecurity,ofanynatureanddescriptionwhatsoever,includingadebt | |
| 2974 | - | 22 instrumentorsecuritywhichhasthecharacteristicsofdebtbutwhichprovides | |
| 2975 | - | 23 forconversionintoequityorequityparticipationinstrumentssuchasoptions | |
| 2976 | - | 24 orwarrantswhichareacquiredbyaMissouricertifiedcapitalcompanyora | |
| 2977 | - | 25 qualifiedinvestingentityasaresultofatransferofcashtoabusiness; | |
| 2978 | - | 26 (4)"Certifiedcapital",aninvestmentofcashbyaninvestorina | |
| 2979 | - | 27 Missouricertifiedcapitalcompany; | |
| 2980 | - | 28 (5)"Certifiedcapitalcompany",anypartnership,corporation,trustor | |
| 2981 | - | 29 limitedliabilitycompany,whetherorganizedonaprofitornot-for-profitbasis, | |
| 2982 | - | 30 thatislocated,headquarteredandregisteredtoconductbusinessinMissouri | |
| 2983 | - | 31 thathasasitsprimarybusinessactivity,theinvestmentofcashinqualified | |
| 2984 | - | 32 Missouribusinesses,andwhichiscertifiedbythedepartmentasmeetingthe | |
| 2985 | - | 33 criteriaofsections135.500to135.529; | |
| 2986 | - | 34 (6)"Department",theMissouridepartmentofeconomicdevelopment; | |
| 2987 | - | 35 (7)"Director",thedirectorofthedepartmentofeconomic | |
| 2988 | - | 36 developmentorapersonactingunderthesupervisionofthedirector; | |
| 2989 | - | 37 (8)"Investor",anyinsurancecompanythatcontributescash; | |
| 2990 | - | 38 (9)"Liquidatingdistribution",paymentstoinvestorsortothecertified | |
| 2991 | - | 39 capitalcompanyfromearnings; | |
| 2992 | - | 40 (10)"Person",anynaturalpersonorentity,includingacorporation, | |
| 2993 | - | 41 generalorlimitedpartnership,trust,limitedliabilitycompany,orany | |
| 2994 | - | 42 charitableorganizationwhichisexemptfromfederalincometaxandwhose | |
| 2995 | - | 43 Missouriunrelatedbusinesstaxableincome,ifany,wouldbesubjecttothe | |
| 2996 | - | 44 stateincometaximposedunderchapter143; | |
| 2997 | - | 45 (11)"Qualifieddistribution",anydistributionorpaymenttoequity | |
| 2998 | - | 46 holdersofacertifiedcapitalcompanyinconnectionwiththefollowing: | |
| 2999 | - | 47 (a)Reasonablecostsandexpensesofforming,syndicating,managing | |
| 3000 | - | 48 andoperatingthecertifiedcapitalcompany; | |
| 3001 | - | 49 (b)Managementfeesformanagingandoperatingthecertifiedcapital | |
| 3002 | - | 50 company;and | |
| 3003 | - | HCSHB2319 80 51 (c)Anyincreaseinfederalorstatetaxes,penaltiesandinterest, | |
| 3004 | - | 52 includingthoserelatedtostateandfederalincometaxes,ofequityownersofa | |
| 3005 | - | 53 certifiedcapitalcompanywhichrelatedtotheownership,managementor | |
| 3006 | - | 54 operationofacertifiedcapitalcompany; | |
| 3007 | - | 55 (12)"Qualifiedinvestingentity",anypartnership,corporation,trust,or | |
| 3008 | - | 56 limitedliabilitycompany,whetherorganizedonafor-profitornot-for-profit | |
| 3009 | - | 57 basis,that: | |
| 3010 | - | 58 (a)Isregisteredtodobusinessinthisstate; | |
| 3011 | - | 59 (b)Isawhollyownedsubsidiaryofacertifiedcapitalcompanyor | |
| 3012 | - | 60 otherwiseaffiliatedwithandundercommoncontrolwithacertifiedcapital | |
| 3013 | - | 61 company;and | |
| 3014 | - | 62 (c)Hasbeendesignatedasaqualifiedinvestingentitybysuch | |
| 3015 | - | 63 certifiedcapitalcompany.Suchdesignationshallbeeffectiveupondelivery | |
| 3016 | - | 64 bythecertifiedcapitalcompanyofwrittennoticeofthedesignationtothe | |
| 3017 | - | 65 department.Aqualifiedinvestingentitymayraisedebtorequitycapitalfor | |
| 3018 | - | 66 investment,butsuchcapitalshallnotbeconsideredcertifiedcapital.Any | |
| 3019 | - | 67 qualifiedinvestmentmadebyaqualifiedinvestingentityaftertheeffective | |
| 3020 | - | 68 dateofthisactshallbedeemedtohavebeenmadebyacertifiedcapital | |
| 3021 | - | 69 companythatdesignatedthequalifiedinvestingentityassuch;providedthat | |
| 3022 | - | 70 noqualifiedinvestmentmaybedeemedtohavebeenmadebymorethanone | |
| 3023 | - | 71 certifiedcapitalcompany; | |
| 3024 | - | 72 (13)"Qualifiedinvestment",theinvestmentofcashbyaMissouri | |
| 3025 | - | 73 certifiedcapitalcompanyoraqualifiedinvestingentityinsuchamannerasto | |
| 3026 | - | 74 acquirecapitalinaqualifiedMissouribusiness; | |
| 3027 | - | 75 (14)"QualifiedMissouribusiness",anindependentlyownedand | |
| 3028 | - | 76 operatedbusiness,whichisheadquarteredandlocatedinMissouriandwhich | |
| 3029 | - | 77 isinneedofventurecapitalandcannotobtainconventionalfinancing.Such | |
| 3030 | - | 78 businessshallhavenomorethantwohundredemployees,eightypercentof | |
| 3031 | - | 79 whichareemployedinMissouri.Suchbusinessshallbeinvolvedin | |
| 3032 | - | 80 commerceforthepurposeofmanufacturing,processingorassembling | |
| 3033 | - | 81 products,conductingresearchanddevelopment,orprovidingservicesin | |
| 3034 | - | 82 interstatecommerce,butexcludingretail,realestate,realestatedevelopment, | |
| 3035 | - | 83 insuranceandprofessionalservicesprovidedbyaccountants,lawyersor | |
| 3036 | - | 84 physicians.Atthetimeacertifiedcapitalcompanyorqualifiedinvesting | |
| 3037 | - | 85 entitymakesaninitialinvestmentinabusiness,suchbusinessshallbeasmall | |
| 3038 | - | 86 businessconcernthatmeetstherequirementsoftheUnitedStatesSmall | |
| 3039 | - | 87 BusinessAdministration'squalificationsizestandardsforitsventurecapital | |
| 3040 | - | 88 program,asdefinedinSection13CFR121.301(c)oftheSmallBusiness | |
| 3041 | - | 89 InvestmentActof1958,asamended.Anybusinesswhichisclassifiedasa | |
| 3042 | - | 90 qualifiedMissouribusinessatthetimeofthefirstinvestmentinsuchbusiness | |
| 3043 | - | 91 byaMissouricertifiedcapitalcompanyorqualifiedinvestingentityshall,for | |
| 3044 | - | 92 aperiodofsevenyearsfromthedateofsuchfirstinvestment,remain | |
| 3045 | - | 93 classifiedasaqualifiedMissouribusinessandmayreceivefollow-on | |
| 3046 | - | 94 investmentsfromanyMissouricertifiedcapitalcompanyorqualified | |
| 3047 | - | 95 investingentityandsuchfollow-oninvestmentsshallbequalified | |
| 3048 | - | 96 investmentseventhoughsuchbusinessmaynotmeettheother | |
| 3049 | - | 97 qualificationsofthissubsectionatthetimeofsuchfollow-oninvestments; | |
| 3050 | - | HCSHB2319 81 98 (15)"Statepremiumtaxliability",anyliabilityincurredbyan | |
| 3051 | - | 99 insurancecompanypursuanttotheprovisionsofsection148.320,148.340, | |
| 3052 | - | 100 148.370or148.376,andanyotherrelatedprovisions,whichmayimposeatax | |
| 3053 | - | 101 uponthepremiumincomeofinsurancecompaniesafterJanuary1,1997.] | |
| 3054 | - | [135.503.1.Anyinvestorthatmakesaninvestmentofcertified | |
| 3055 | - | 2 capitalshall,intheyearofinvestment,earnavestedcreditagainststate | |
| 3056 | - | 3 premiumtaxliabilityequaltotheapplicablepercentageoftheinvestor's | |
| 3057 | - | 4 investmentofcertifiedcapital.Aninvestorshallbeentitledtotakeuptoten | |
| 3058 | - | 5 percentofthevestedcreditinanytaxableyearoftheinvestor.Anytimeafter | |
| 3059 | - | 6 threeyearsafterAugust28,1996,thedirector,withtheapprovalofthe | |
| 3060 | - | 7 commissionerofadministration,mayreducetheapplicablepercentageona | |
| 3061 | - | 8 prospectivebasis.Anysuchreductionintheapplicablepercentagebythe | |
| 3062 | - | 9 directorshallnothaveanyeffectoncreditsagainststatepremiumtaxliability | |
| 3063 | - | 10 whichhavebeenclaimedorwillbeclaimedbyanyinvestorwithrespectto | |
| 3064 | - | 11 creditswhichhavebeenearnedandvestedpursuanttoaninvestmentof | |
| 3065 | - | 12 certifiedcapitalpriortotheeffectivedateofanysuchchange. | |
| 3066 | - | 13 2.Aninsurancecompanyclaimingastatepremiumtaxcreditearned | |
| 3067 | - | 14 throughaninvestmentinacertifiedcapitalcompanyshallnotberequiredto | |
| 3068 | - | 15 payanyadditionalretaliatorytaxleviedpursuanttosection375.916asaresult | |
| 3069 | - | 16 ofclaimingsuchcredit. | |
| 3070 | - | 17 3.Thecreditagainststatepremiumtaxliabilitywhichisdescribedin | |
| 3071 | - | 18 subsection1ofthissectionmaynotexceedthestatepremiumtaxliabilityof | |
| 3072 | - | 19 theinvestorforanytaxableyear.Allsuchcreditsagainststatepremiumtax | |
| 3073 | - | 20 liabilitymaybecarriedforwardindefinitelyuntilthecreditsareutilized.The | |
| 3074 | - | 21 maximumamountofcertifiedcapitalinoneormorecertifiedcapital | |
| 3075 | - | 22 companiesforwhichearnedandvestedtaxcreditswillbeallowedinanyyear | |
| 3076 | - | 23 toanyoneinvestororitsaffiliatesshallbelimitedtotenmilliondollars. | |
| 3077 | - | 24 4.Exceptasprovidedinsubsection5ofthissection,theaggregate | |
| 3078 | - | 25 amountofcertifiedcapitalforwhichearnedandvestedcreditsagainststate | |
| 3079 | - | 26 premiumtaxliabilityareallowedforallpersonspursuanttosections135.500 | |
| 3080 | - | 27 to135.529shallnotexceedthefollowingamounts:forcalendaryear1996, | |
| 3081 | - | 28 $0.00;forcalendaryear1997,anamountwhichwouldentitleallMissouri | |
| 3082 | - | 29 certifiedcapitalcompanyinvestorstotakeaggregatecreditsoffivemillion | |
| 3083 | - | 30 dollars;andforanyyearthereafter,anadditionalamounttobedeterminedby | |
| 3084 | - | 31 thedirectorbutnottoexceedaggregatecreditsoftenmilliondollarsforany | |
| 3085 | - | 32 yearwiththeapprovalofthecommissionerofadministrationandreportedto | |
| 3086 | - | 33 thegeneralassemblyasprovidedinsubsection2ofsection33.282,provided | |
| 3087 | - | 34 thattheamountsodeterminedshallnotimpairtheabilityofaninvestorwith | |
| 3088 | - | 35 earnedandvestedcreditswhichhavebeenallowedinpreviousyearstotake | |
| 3089 | - | 36 them,pursuanttosubsection1ofthissection.Duringanycalendaryearin | |
| 3090 | - | 37 whichthelimitationdescribedinthissubsectionwilllimittheamountof | |
| 3091 | - | 38 certifiedcapitalforwhichearnedandvestedcreditsagainststatepremiumtax | |
| 3092 | - | 39 liabilityareallowed,certifiedcapitalforwhichcreditsareallowedwillbe | |
| 3093 | - | 40 allocatedinorderofprioritybaseduponthedateoffilingofinformation | |
| 3094 | - | 41 describedinsubdivision(1)ofsubsection5ofsection135.516.Certified | |
| 3095 | - | 42 capitallimitedinanycalendaryearbytheapplicationoftheprovisionsofthis | |
| 3096 | - | 43 subsectionshallbeallowedandallocatedintheimmediatelysucceeding | |
| 3097 | - | HCSHB2319 82 44 calendaryearintheorderofprioritysetforthinthissubsection.The | |
| 3098 | - | 45 departmentshallmakeseparateallocationsofcertifiedcapitalforwhich | |
| 3099 | - | 46 creditsareallowedunderthelimitationsdescribedinthissubsectionandunder | |
| 3100 | - | 47 thelimitationsdescribedinsubsection5ofthissection. | |
| 3101 | - | 48 5.Inadditiontothemaximumamountpursuanttosubsection4ofthis | |
| 3102 | - | 49 section,theaggregateamountofcertifiedcapitalforwhichearnedandvested | |
| 3103 | - | 50 creditsagainststatepremiumtaxliabilityareallowedforpersonspursuantto | |
| 3104 | - | 51 sections135.500to135.529shallbethefollowing:forcalendaryear1999and | |
| 3105 | - | 52 foranyyearthereafter,anamounttobedeterminedbythedirectorwhich | |
| 3106 | - | 53 wouldentitleallMissouricertifiedcapitalcompanyinvestorstotakeaggregate | |
| 3107 | - | 54 creditsnottoexceedfourmilliondollarsforanyyearwiththeapprovalofthe | |
| 3108 | - | 55 commissionerofadministrationandreportedtothegeneralassemblyas | |
| 3109 | - | 56 providedinsubsection2ofsection33.282,providedthattheamountso | |
| 3110 | - | 57 determinedshallnotimpairtheabilityofaninvestorwithearnedandvested | |
| 3111 | - | 58 creditswhichhavebeenallowedinpreviousyearsorpursuanttothe | |
| 3112 | - | 59 provisionsofsubsection4ofthissectiontotakethem,pursuanttosubsection | |
| 3113 | - | 60 1ofthissection.Forpurposesofanyrequirementregardingthescheduleof | |
| 3114 | - | 61 qualifiedinvestmentsforcertifiedcapitalforwhichearnedandvestedcredits | |
| 3115 | - | 62 againststatepremiumtaxliabilityareallowedpursuanttothissubsectiononly, | |
| 3116 | - | 63 thedefinitionofa"qualifiedMissouribusiness"assetforthinsubdivision(14) | |
| 3117 | - | 64 ofsubsection2ofsection135.500meansaMissouribusinessthatislocatedin | |
| 3118 | - | 65 adistressedcommunityasdefinedinsection135.530,andmeetsallofthe | |
| 3119 | - | 66 requirementsofsubdivision(14)ofsubsection2ofsection135.500.During | |
| 3120 | - | 67 anycalendaryearinwhichthelimitationdescribedinthissubsectionlimitsthe | |
| 3121 | - | 68 amountofadditionalcertifiedcapitalforwhichearnedandvestedcredits | |
| 3122 | - | 69 againststatepremiumtaxliabilityareallowed,additionalcertifiedcapitalfor | |
| 3123 | - | 70 whichcreditsareallowedshallbeallocatedinorderofprioritybaseduponthe | |
| 3124 | - | 71 dateoffilingofinformationdescribedinsubdivision(1)ofsubsection5of | |
| 3125 | - | 72 section135.516withrespecttosuchadditionalcertifiedcapital.The | |
| 3126 | - | 73 departmentshallmakeseparateallocationsofcertifiedcapitalforwhich | |
| 3127 | - | 74 creditsareallowedunderthelimitationsdescribedinthissubsectionandunder | |
| 3128 | - | 75 thelimitationsdescribedinsubsection4ofthissection.Nolimitation | |
| 3129 | - | 76 applicabletoanycertifiedcapitalcompanywithrespecttocertifiedcapitalfor | |
| 3130 | - | 77 whichcreditsareallowedpursuanttosubsection4ofthissectionshalllimit | |
| 3131 | - | 78 theamountofcertifiedcapitalforwhichcreditsareallowedpursuanttothis | |
| 3132 | - | 79 subsection.Nolimitationapplicabletoanycertifiedcapitalcompanywith | |
| 3133 | - | 80 respecttocertifiedcapitalforwhichcreditsareallowedpursuanttothis | |
| 3134 | - | 81 subsectionshalllimittheamountofcertifiedcapitalforwhichcreditsare | |
| 3135 | - | 82 allowedpursuanttosubsection4ofthissection. | |
| 3136 | - | 83 6.ThedepartmentshalladviseanyMissouricertifiedcapitalcompany, | |
| 3137 | - | 84 inwriting,withinfifteendaysafterreceivingthefilingdescribedin | |
| 3138 | - | 85 subdivision(1)ofsubsection5ofsection135.516whetherthelimitationsof | |
| 3139 | - | 86 subsection3ofthissectionthenineffectwillbeapplicablewithrespecttothe | |
| 3140 | - | 87 investmentsandcreditsdescribedinsuchfilingwiththedepartment.] | |
| 3141 | - | [135.505.AMissouricertifiedcapitalcompanyshallhaveafunding | |
| 3142 | - | 2 periodofoneyearfromthedateofreceivingcertificationfromthedirector. | |
| 3143 | - | HCSHB2319 83 3 AllinvestmentsintheMissouricertifiedcapitalcompanyshallbemadewithin | |
| 3144 | - | 4 suchthreehundredsixty-five-dayfundingperiod.] | |
| 3145 | - | [135.508.Thedepartmentmaycertifyprofitornot-for-profitentities | |
| 3146 | - | 2 whichsubmitanapplicationtobedesignatedasaMissouricertifiedcapital | |
| 3147 | - | 3 company.Thedepartmentshallreviewtheorganizationaldocumentsforeach | |
| 3148 | - | 4 applicantforcertificationandthebusinesshistoryoftheapplicant,determine | |
| 3149 | - | 5 thattheMissouricertifiedcapitalcompany'scash,marketablesecuritiesand | |
| 3150 | - | 6 otherliquidassetsareatleastfivehundredthousanddollars,determinethatthe | |
| 3151 | - | 7 liquidassetbaseforcertifiedcompaniesisatleastfivehundredthousand | |
| 3152 | - | 8 dollarsatalltimesduringthecompany'sparticipationintheprogram | |
| 3153 | - | 9 authorizedbysections135.500to135.529,anddeterminethattheofficersand | |
| 3154 | - | 10 theboardofdirectors,partners,trusteesormanagersarethoroughly | |
| 3155 | - | 11 acquaintedwiththerequirementsofsections135.500to135.529.No | |
| 3156 | - | 12 insurancecompanywhichreceivestaxcreditspermittedundersections | |
| 3157 | - | 13 135.500to135.529foraninvestmentinaMissouricertifiedcapitalcompany | |
| 3158 | - | 14 shall,individuallyorwithorthroughoneormoreaffiliates,beamanaging | |
| 3159 | - | 15 generalpartneroforcontrolthedirectionofinvestmentsofthatMissouri | |
| 3160 | - | 16 certifiedcapitalcompany.Withinseventy-fivedaysofapplication,the | |
| 3161 | - | 17 departmentshalleitherissuethecertificationandnotifythedepartmentof | |
| 3162 | - | 18 revenueandthedirectorofthedepartmentofcommerceandinsuranceofsuch | |
| 3163 | - | 19 certificationorshallrefusethecertificationandcommunicateindetailtothe | |
| 3164 | - | 20 applicantthegroundsfortherefusal,includingthesuggestionsfortheremoval | |
| 3165 | - | 21 ofthosegrounds.Thedepartmentshallberesponsiblefortheadministration | |
| 3166 | - | 22 ofthetaxcreditsauthorizedbysections135.500to135.529.Noruleor | |
| 3167 | - | 23 portionofarulepromulgatedundertheauthorityofsections135.500to | |
| 3168 | - | 24 135.529shallbecomeeffectiveunlessithasbeenpromulgatedpursuanttothe | |
| 3169 | - | 25 provisionsofchapter536.AllrulemakingauthoritydelegatedpriortoJune | |
| 3170 | - | 26 27,1997,isofnoforceandeffectandrepealed;however,nothinginthis | |
| 3171 | - | 27 sectionshallbeinterpretedtorepealoraffectthevalidityofanyrulefiledor | |
| 3172 | - | 28 adoptedpriortoJune27,1997,ifsuchrulecompliedwiththeprovisionsof | |
| 3173 | - | 29 chapter536.Theprovisionsofthissectionandchapter536arenonseverable | |
| 3174 | - | 30 andifanyofthepowersvestedwiththegeneralassemblypursuanttochapter | |
| 3175 | - | 31 536,includingtheabilitytoreview,todelaytheeffectivedate,orto | |
| 3176 | - | 32 disapproveandannularuleorportionofarule,aresubsequentlyheld | |
| 3177 | - | 33 unconstitutional,thenthepurportedgrantofrulemakingauthorityandanyrule | |
| 3178 | - | 34 soproposedandcontainedintheorderofrulemakingshallbeinvalidand | |
| 3179 | - | 35 void.] | |
| 3180 | - | [135.516.1.Tocontinuetobecertified,aMissouricertifiedcapital | |
| 3181 | - | 2 companyshallmakequalifiedinvestmentsaccordingtothefollowing | |
| 3182 | - | 3 schedule: | |
| 3183 | - | 4 (1)WithintwoyearsafterthedateonwhichaMissouricertified | |
| 3184 | - | 5 capitalcompanyisdesignatedasaMissouricertifiedcapitalcompanyatleast | |
| 3185 | - | 6 twenty-fivepercentofitscertifiedcapitalshallbe,orhavebeen,placedin | |
| 3186 | - | 7 qualifiedinvestments; | |
| 3187 | - | 8 (2)WithinthreeyearsafterthedateonwhichaMissouricertified | |
| 3188 | - | 9 capitalcompanyisdesignatedasaMissouricertifiedcapitalcompanyatleast | |
| 3189 | - | HCSHB2319 84 10 fortypercentofitscertifiedcapitalshallbe,orhavebeen,placedinqualified | |
| 3190 | - | 11 investments; | |
| 3191 | - | 12 (3)WithinfouryearsafterthedateonwhichaMissouricertified | |
| 3192 | - | 13 capitalcompanyisdesignatedasaMissouricertifiedcapitalcompany,atleast | |
| 3193 | - | 14 fiftypercentofitstotalcertifiedcapitalshallbe,orhavebeen,placedin | |
| 3194 | - | 15 qualifiedinvestments.AMissouricertifiedcapitalcompanymaynotmakean | |
| 3195 | - | 16 investmentinanaffiliateofthecertifiedcapitalcompany.Forthepurposesof | |
| 3196 | - | 17 thissubsection,ifalegalentityisnotanaffiliatebeforeacertifiedcapital | |
| 3197 | - | 18 companyinitiallyinvestsintheentity,itwillnotbeanaffiliateifacertified | |
| 3198 | - | 19 capitalcompanyprovidesadditionalinvestmentinsuchentitysubsequentto | |
| 3199 | - | 20 itsinitialinvestment; | |
| 3200 | - | 21 (4)Acertifiedcapitalcompany,atleastfifteenworkingdayspriorto | |
| 3201 | - | 22 makingwhatitdeterminestobeaninitialqualifiedinvestmentinaspecific | |
| 3202 | - | 23 qualifiedMissouribusiness,shallcertifytothedepartmentthatthecompanyin | |
| 3203 | - | 24 whichitoraqualifiedinvestingentityproposestoinvestisaqualified | |
| 3204 | - | 25 Missouribusiness.Thecertifiedcapitalcompanyshallstatetheamountof | |
| 3205 | - | 26 capitalitoraqualifiedinvestingentityintendstoinvestandthenameofthe | |
| 3206 | - | 27 businessinwhichitoraqualifiedinvestingentityintendstoinvest.The | |
| 3207 | - | 28 certifiedcapitalcompanyshallalsoprovidetothedepartmentanexplanation | |
| 3208 | - | 29 ofitsdeterminationthatthebusinessmeetsthedefinitionofaqualified | |
| 3209 | - | 30 Missouribusiness.Ifthedepartmentdeterminesthatthebusinessdoesnot | |
| 3210 | - | 31 meetthedefinitionofaqualifiedMissouribusiness,itshall,withinthefifteen- | |
| 3211 | - | 32 working-dayperiodpriortothemakingoftheproposedinvestment,notifythe | |
| 3212 | - | 33 certifiedcapitalcompanyofitsdeterminationandanexplanationthereof.If | |
| 3213 | - | 34 thedepartmentfailstonotifythecertifiedcapitalcompanywithrespecttothe | |
| 3214 | - | 35 proposedinvestmentwithinthefifteen-working-dayperiodpriortothemaking | |
| 3215 | - | 36 oftheproposedinvestment,thecompanyinwhichthecertifiedcapital | |
| 3216 | - | 37 companyoraqualifiedinvestingentityproposestoinvestshallbedeemedto | |
| 3217 | - | 38 beaqualifiedMissouribusiness.Ifacertifiedcapitalcompanyfailstonotify | |
| 3218 | - | 39 thedepartmentpriortomakinganinitialinvestmentinabusiness,the | |
| 3219 | - | 40 departmentmaysubsequentlydeterminethatthebusinessinwhichthe | |
| 3220 | - | 41 certifiedcapitalcompanyoraqualifiedinvestingentityinvestedwasnota | |
| 3221 | - | 42 qualifiedMissouribusinesseventhoughthebusiness,atthetimeofthe | |
| 3222 | - | 43 investment,mettherequirementsofsubdivision(15)ofsubsection2ofsection | |
| 3223 | - | 44 135.500; | |
| 3224 | - | 45 (5)Allcertifiedcapitalwhichisnotrequiredtobeplacedinqualified | |
| 3225 | - | 46 investmentsorwhichhasbeenplacedinqualifiedinvestmentsandcanbe | |
| 3226 | - | 47 receivedbythecompany,maybeheldorinvestedinsuchmannerasthe | |
| 3227 | - | 48 Missouricertifiedcapitalcompany,initsdiscretion,deemsappropriate.The | |
| 3228 | - | 49 proceedsofallcertifiedcapitalwhichisreceivedbyacertifiedcapital | |
| 3229 | - | 50 companyafteritwasoriginallyplacedinqualifiedinvestmentsmaybeplaced | |
| 3230 | - | 51 againinqualifiedinvestmentsandshallcounttowardanyrequirementin | |
| 3231 | - | 52 sections135.500to135.529withrespecttoplacingcertifiedcapitalin | |
| 3232 | - | 53 qualifiedinvestments. | |
| 3233 | - | 54 2.Acertifiedcapitalcompanymaymakequalifieddistributionsatany | |
| 3234 | - | 55 time.Inordertomakedistributions,otherthanqualifieddistributions,a | |
| 3235 | - | 56 certifiedcapitalcompanymusthavemadecumulativequalifiedinvestments, | |
| 3236 | - | 57 includingthosemadethroughaqualifiedinvestingentity,inanamount | |
| 3237 | - | HCSHB2319 85 58 cumulativelyequaltoatleastonehundredpercentofitscertifiedcapital. | |
| 3238 | - | 59 Cumulativedistributionstoequityholders,otherthanqualifieddistributions, | |
| 3239 | - | 60 inexcessofthecertifiedcapitalcompany'soriginalcertifiedcapitalandany | |
| 3240 | - | 61 additionalcapitalcontributionstothecertifiedcapitalcompanyshallbe | |
| 3241 | - | 62 subjecttoauditbyanationallyrecognizedcertifiedpublicaccountingfirm | |
| 3242 | - | 63 acceptabletothedepartment,attheexpenseofthecertifiedcapitalcompany. | |
| 3243 | - | 64 Theauditshalldeterminewhetheraggregatecumulativedistributionstoall | |
| 3244 | - | 65 investorsandequityholders,otherthanqualifieddistributions,when | |
| 3245 | - | 66 combinedwithalltaxcreditsutilizedbyinvestorspursuanttosections | |
| 3246 | - | 67 135.500to135.529,haveresultedinanannualinternalrateofreturnoffifteen | |
| 3247 | - | 68 percentcomputedonthesumoftotaloriginalcertifiedcapitalofthecertified | |
| 3248 | - | 69 capitalcompanyandanyadditionalcapitalcontributionstothecertifiedcapital | |
| 3249 | - | 70 company.Twenty-fivepercentofdistributionsmade,otherthanqualified | |
| 3250 | - | 71 distributions,inexcessoftheamountrequiredtoproduceafifteenpercent | |
| 3251 | - | 72 annualinternalrateofreturn,asdeterminedbytheaudit,shallbepayableby | |
| 3252 | - | 73 thecertifiedcapitalcompanytotheMissouridevelopmentfinanceboard. | |
| 3253 | - | 74 Distributionsorpaymentstodebtholdersofacertifiedcapitalcompany, | |
| 3254 | - | 75 however,maybemadewithoutrestrictionwithrespecttodebtowedtothem | |
| 3255 | - | 76 byacertifiedcapitalcompany.Adebtholderthatisalsoaninvestororequity | |
| 3256 | - | 77 holderofacertifiedcapitalcompanymayreceivedistributionsorpayments | |
| 3257 | - | 78 withrespecttosuchdebtwithoutrestriction. | |
| 3258 | - | 79 3.NoqualifiedinvestmentmaybemadeatacosttoaMissouri | |
| 3259 | - | 80 certifiedcapitalcompanygreaterthanfifteenpercentofthetotalcertified | |
| 3260 | - | 81 capitalundermanagementoftheMissouricertifiedcapitalcompanyatthe | |
| 3261 | - | 82 timeofinvestment. | |
| 3262 | - | 83 4.DocumentsandothermaterialssubmittedbyMissouricertified | |
| 3263 | - | 84 capitalcompaniesorbybusinessesforpurposesofthecontinuanceof | |
| 3264 | - | 85 certificationmaybedeemed"closedrecords"pursuanttotheprovisionsof | |
| 3265 | - | 86 section620.014. | |
| 3266 | - | 87 5.EachMissouricertifiedcapitalcompanyshallreportthefollowing | |
| 3267 | - | 88 tothedepartment: | |
| 3268 | - | 89 (1)Assoonaspracticableafterthereceiptofcertifiedcapital,the | |
| 3269 | - | 90 nameofeachinvestorfromwhichthecertifiedcapitalwasreceived,the | |
| 3270 | - | 91 amountofeachinvestor'sinvestmentofcertifiedcapitalandtaxcredits | |
| 3271 | - | 92 computedwithoutregardtoanylimitationsundersubsection3ofsection | |
| 3272 | - | 93 135.503,andthedateonwhichthecertifiedcapitalwasreceived; | |
| 3273 | - | 94 (2)Onaquarterlybasis,theamountoftheMissouricertifiedcapital | |
| 3274 | - | 95 company'scertifiedcapitalattheendofthequarter,whetherornotthe | |
| 3275 | - | 96 Missouricertifiedcapitalcompanyhasinvested,togetherwithany | |
| 3276 | - | 97 investmentsmadebyaqualifiedinvestingentitythataredeemedtohave | |
| 3277 | - | 98 beenmadebythecertifiedcapitalcompany,morethanfifteenpercentofthe | |
| 3278 | - | 99 totalcertifiedcapitalundermanagementinanyonecompany,andallqualified | |
| 3279 | - | 100 investmentsthattheMissouricertifiedcapitalcompanyhasmadeorhasbeen | |
| 3280 | - | 101 deemedtohavebeenmadethroughaqualifiedinvestingentity; | |
| 3281 | - | 102 (3)EachMissouricertifiedcapitalcompanyshallprovideannual | |
| 3282 | - | 103 auditedfinancialstatementstothedepartmentwhichincludeanopinionofan | |
| 3283 | - | 104 independentcertifiedpublicaccountanttothedepartmentwithinninetydays | |
| 3284 | - | 105 ofthecloseofthefiscalyear.Atthesametime,thecertifiedcapitalcompany | |
| 3285 | - | HCSHB2319 86 106 shallalsoprovideauditedfinancialstatementsforanyqualifiedinvesting | |
| 3286 | - | 107 entitythathasmadequalifiedinvestmentsonitsbehalf,unlessthefinancial | |
| 3287 | - | 108 resultsofsuchqualifiedinvestingentityareincludedintheconsolidated | |
| 3288 | - | 109 financialstatementsofthecertifiedcapitalcompany.Theauditshalladdress | |
| 3289 | - | 110 themethodsofoperationandconductofthebusinessoftheMissouricertified | |
| 3290 | - | 111 capitalcompanytodetermineiftheMissouricertifiedcapitalcompanyis | |
| 3291 | - | 112 complyingwiththestatutesandprogramrulesandthatthefundsreceivedby | |
| 3292 | - | 113 theMissouricertifiedcapitalcompanyhavebeeninvestedasrequiredwithin | |
| 3293 | - | 114 thetimelimitsprovidedbysections135.500to135.529.] | |
| 3294 | - | [135.523.ThedepartmentmayrevokethecertificationofaMissouri | |
| 3295 | - | 2 certifiedcapitalcompanyifanymaterialrepresentationtothedepartmentin | |
| 3296 | - | 3 connectionwiththeapplicationprocessprovestohavebeenfalselymadeorif | |
| 3297 | - | 4 theapplicationmateriallyviolatesanyrequirementestablishedbythe | |
| 3298 | - | 5 departmentpursuanttosections135.500to135.529.] | |
| 3299 | - | [135.526.Allinvestmentsforwhichtaxcreditsareclaimedunderthe | |
| 3300 | - | 2 provisionsofsections135.500to135.529shallsatisfytheconditionsofbeing | |
| 3301 | - | 3 registeredorspecificallyexemptfromregistrationbyprovisionsorregulations | |
| 3302 | - | 4 underchapter409.] | |
| 3303 | - | [135.529.1.Thetaxcreditestablishedpursuanttosections135.500to | |
| 3304 | - | 2 135.529maybesoldortransferredinaccordancewithregulationsadoptedby | |
| 3305 | - | 3 thedepartment.Anysuchsaleortransfershallnotaffectthetimeschedulefor | |
| 3306 | - | 4 takingthetaxcredit,asprovidedinsections135.500to135.529.Any | |
| 3307 | - | 5 premiumtaxcreditsrecapturedpursuanttosection135.520shallbethe | |
| 3308 | - | 6 liabilityofthetaxpayerwhichactuallyclaimedthecredit.Inapprovingthe | |
| 3309 | - | 7 saleortransferofthecreditpursuanttothissection,thedepartmentmay | |
| 3310 | - | 8 requirethetransferororthetransfereeorboththetransferorandthetransferee | |
| 3311 | - | 9 toexecuteguaranteesorpostbondswithrespecttoanypotentialcredit | |
| 3312 | - | 10 recapture. | |
| 3313 | - | 11 2.Noruleorportionofarulepromulgatedundertheauthorityof | |
| 3314 | - | 12 sections135.500to135.529shallbecomeeffectiveunlessithasbeen | |
| 3315 | - | 13 promulgatedpursuanttotheprovisionsofchapter536.Thedepartmentshall | |
| 3316 | - | 14 makeandpromulgateemergencyrulesandregulationsconsistentwiththe | |
| 3317 | - | 15 provisionsofsections135.500to135.529asarenecessaryorusefultocarry | |
| 3318 | - | 16 outtheprovisionsofsections135.500to135.529,pursuanttosection536.025. | |
| 3319 | - | 17 3.Everyfinalorder,decision,licenseorotherofficialactofthe | |
| 3320 | - | 18 directorpursuanttosections135.500to135.529issubjecttoadministrative | |
| 3321 | - | 19 reviewinaccordancewithchapter621.] | |
| 3322 | - | [135.545.Ataxpayershallbeallowedacreditfortaxespaidpursuant | |
| 3323 | - | 2 tochapter143,147or148inanamountequaltofiftypercentofaqualified | |
| 3324 | - | 3 investmentintransportationdevelopmentforaviation,masstransportation, | |
| 3325 | - | 4 includingparkingfacilitiesforusersofmasstransportation,railroads,ports, | |
| 3326 | - | 5 includingparkingfacilitiesandlimitedaccessroadswithinports,waterborne | |
| 3327 | - | 6 transportation,bicycleandpedestrianpaths,orrollingstocklocatedina | |
| 3328 | - | 7 distressedcommunityasdefinedinsection135.530,andwhicharepartofa | |
| 3329 | - | HCSHB2319 87 8 developmentplanapprovedbytheappropriatelocalagency.Ifthedepartment | |
| 3330 | - | 9 ofeconomicdevelopmentdeterminestheinvestmenthasbeensoapproved, | |
| 3331 | - | 10 thedepartmentshallgrantthetaxcreditinorderofdatereceived.Ataxpayer | |
| 3332 | - | 11 maycarryforwardanyunusedtaxcreditforuptotenyearsandmaycarryit | |
| 3333 | - | 12 backforthepreviousthreeyearsuntilsuchcredithasbeenfullyclaimed. | |
| 3334 | - | 13 Certificatesoftaxcreditissuedinaccordancewiththissectionmaybe | |
| 3335 | - | 14 transferred,soldorassignedbynotarizedendorsementwhichnamesthe | |
| 3336 | - | 15 transferee.Thetaxcreditsallowedpursuanttothissectionshallbeforan | |
| 3337 | - | 16 amountofnomorethantenmilliondollarsforeachyear.Thiscreditshall | |
| 3338 | - | 17 applytoreturnsfiledforalltaxableyearsbeginningonorafterJanuary1, | |
| 3339 | - | 18 1999.Anyunusedportionofthetaxcreditauthorizedpursuanttothissection | |
| 3340 | - | 19 shallbeavailableforuseinthefuturebythoseentitiesuntilfullyclaimed.For | |
| 3341 | - | 20 purposesofthissection,a"taxpayer"shallincludeanycharitableorganization | |
| 3342 | - | 21 thatisexemptfromfederalincometaxandwhoseMissouriunrelatedbusiness | |
| 3343 | - | 22 taxableincome,ifany,wouldbesubjecttothestateincometaximposedunder | |
| 3344 | - | 23 chapter143.] | |
| 3345 | - | [135.546.ForalltaxyearsbeginningonorafterJanuary1,2005,no | |
| 3346 | - | 2 taxcreditsshallbeapproved,awarded,orissuedtoanypersonorentity | |
| 3347 | - | 3 claiminganytaxcreditundersection135.545;ifanorganizationhasbeen | |
| 3348 | - | 4 allocatedcreditsforcontribution-basedcreditspriortoJanuary1,2005,the | |
| 3349 | - | 5 organizationmayissuesuchcreditspriortoJanuary1,2007,forqualified | |
| 3350 | - | 6 contributions.] | |
| 3351 | - | [135.680.1.Asusedinthissection,thefollowingtermsshallmean: | |
| 3352 | - | 2 (1)"Adjustedpurchaseprice",theproductof: | |
| 3353 | - | 3 (a)Theamountpaidtotheissuerofaqualifiedequityinvestmentfor | |
| 3354 | - | 4 suchqualifiedequityinvestment;and | |
| 3355 | - | 5 (b)Thefollowingfraction: | |
| 3356 | - | 6 a.Thenumeratorshallbethedollaramountofqualifiedlow-income | |
| 3357 | - | 7 communityinvestmentsheldbytheissuerinthisstateasofthecredit | |
| 3358 | - | 8 allowancedateduringtheapplicabletaxyear;and | |
| 3359 | - | 9 b.Thedenominatorshallbethetotaldollaramountofqualifiedlow- | |
| 3360 | - | 10 incomecommunityinvestmentsheldbytheissuerinallstatesasofthecredit | |
| 3361 | - | 11 allowancedateduringtheapplicabletaxyear; | |
| 3362 | - | 12 c.Forpurposesofcalculatingtheamountofqualifiedlow-income | |
| 3363 | - | 13 communityinvestmentsheldbyanissuer,aninvestmentshallbeconsidered | |
| 3364 | - | 14 heldbyanissuereveniftheinvestmenthasbeensoldorrepaid;providedthat | |
| 3365 | - | 15 theissuerreinvestsanamountequaltothecapitalreturnedtoorrecoveredby | |
| 3366 | - | 16 theissuerfromtheoriginalinvestment,exclusiveofanyprofitsrealized,in | |
| 3367 | - | 17 anotherqualifiedlow-incomecommunityinvestmentwithintwelvemonthsof | |
| 3368 | - | 18 thereceiptofsuchcapital.Anissuershallnotberequiredtoreinvestcapital | |
| 3369 | - | 19 returnedfromqualifiedlow-incomecommunityinvestmentsafterthesixth | |
| 3370 | - | 20 anniversaryoftheissuanceofthequalifiedequityinvestment,theproceedsof | |
| 3371 | - | 21 whichwereusedtomakethequalifiedlow-incomecommunityinvestment, | |
| 3372 | - | 22 andthequalifiedlow-incomecommunityinvestmentshallbeconsideredheld | |
| 3373 | - | 23 bytheissuerthroughtheseventhanniversaryofthequalifiedequity | |
| 3374 | - | 24 investment'sissuance; | |
| 3375 | - | HCSHB2319 88 25 (2)"Applicablepercentage",zeropercentforeachofthefirsttwo | |
| 3376 | - | 26 creditallowancedates,sevenpercentforthethirdcreditallowancedate,and | |
| 3377 | - | 27 eightpercentforthenextfourcreditallowancedates; | |
| 3378 | - | 28 (3)"Creditallowancedate",withrespecttoanyqualifiedequity | |
| 3379 | - | 29 investment: | |
| 3380 | - | 30 (a)Thedateonwhichsuchinvestmentisinitiallymade;and | |
| 3381 | - | 31 (b)Eachofthesixanniversarydatesofsuchdatethereafter; | |
| 3382 | - | 32 (4)"Long-termdebtsecurity",anydebtinstrumentissuedbya | |
| 3383 | - | 33 qualifiedcommunitydevelopmententity,atparvalueorapremium,withan | |
| 3384 | - | 34 originalmaturitydateofatleastsevenyearsfromthedateofitsissuance,with | |
| 3385 | - | 35 noaccelerationofrepayment,amortization,orprepaymentfeaturespriortoits | |
| 3386 | - | 36 originalmaturitydate,andwithnodistribution,payment,orinterestfeatures | |
| 3387 | - | 37 relatedtotheprofitabilityofthequalifiedcommunitydevelopmententityor | |
| 3388 | - | 38 theperformanceofthequalifiedcommunitydevelopmententity'sinvestment | |
| 3389 | - | 39 portfolio.Theforegoingshallinnowaylimittheholder'sabilitytoaccelerate | |
| 3390 | - | 40 paymentsonthedebtinstrumentinsituationswheretheissuerhasdefaulted | |
| 3391 | - | 41 oncovenantsdesignedtoensurecompliancewiththissectionorSection45D | |
| 3392 | - | 42 oftheInternalRevenueCodeof1986,asamended; | |
| 3393 | - | 43 (5)"Qualifiedactivelow-incomecommunitybusiness",themeaning | |
| 3394 | - | 44 givensuchterminSection45DoftheInternalRevenueCodeof1986,as | |
| 3395 | - | 45 amended;providedthatanybusinessthatderivesorprojectstoderivefifteen | |
| 3396 | - | 46 percentormoreofitsannualrevenuefromtherentalorsaleofrealestateshall | |
| 3397 | - | 47 notbeconsideredtobeaqualifiedactivelow-incomecommunitybusiness; | |
| 3398 | - | 48 (6)"Qualifiedcommunitydevelopmententity",themeaninggiven | |
| 3399 | - | 49 suchterminSection45DoftheInternalRevenueCodeof1986,asamended; | |
| 3400 | - | 50 providedthatsuchentityhasenteredintoanallocationagreementwiththe | |
| 3401 | - | 51 CommunityDevelopmentFinancialInstitutionsFundoftheU.S.Treasury | |
| 3402 | - | 52 DepartmentwithrespecttocreditsauthorizedbySection45DoftheInternal | |
| 3403 | - | 53 RevenueCodeof1986,asamended,whichincludesthestateofMissouri | |
| 3404 | - | 54 withintheserviceareasetforthinsuchallocationagreement; | |
| 3405 | - | 55 (7)"Qualifiedequityinvestment",anyequityinvestmentin,orlong- | |
| 3406 | - | 56 termdebtsecurityissuedby,aqualifiedcommunitydevelopmententitythat: | |
| 3407 | - | 57 (a)IsacquiredafterSeptember4,2007,atitsoriginalissuancesolely | |
| 3408 | - | 58 inexchangeforcash; | |
| 3409 | - | 59 (b)Hasatleasteighty-fivepercentofitscashpurchasepriceusedby | |
| 3410 | - | 60 theissuertomakequalifiedlow-incomecommunityinvestments;and | |
| 3411 | - | 61 (c)Isdesignatedbytheissuerasaqualifiedequityinvestmentunder | |
| 3412 | - | 62 thissubdivisionandiscertifiedbythedepartmentofeconomicdevelopment | |
| 3413 | - | 63 asnotexceedingthelimitationcontainedinsubsection2ofthissection.This | |
| 3414 | - | 64 termshallincludeanyqualifiedequityinvestmentthatdoesnotmeetthe | |
| 3415 | - | 65 provisionsofparagraph(a)ofthissubdivisionifsuchinvestmentwasa | |
| 3416 | - | 66 qualifiedequityinvestmentinthehandsofapriorholder; | |
| 3417 | - | 67 (8)"Qualifiedlow-incomecommunityinvestment",anycapitalor | |
| 3418 | - | 68 equityinvestmentin,orloanto,anyqualifiedactivelow-incomecommunity | |
| 3419 | - | 69 business.Withrespecttoanyonequalifiedactivelow-incomecommunity | |
| 3420 | - | 70 business,themaximumamountofqualifiedlow-incomecommunity | |
| 3421 | - | 71 investmentsmadeinsuchbusiness,onacollectivebasiswithallofits | |
| 3422 | - | 72 affiliates,thatmaybeusedfromthecalculationofanynumeratordescribedin | |
| 3423 | - | HCSHB2319 89 73 subparagrapha.ofparagraph(b)ofsubdivision(1)ofthissubsectionshallbe | |
| 3424 | - | 74 tenmilliondollarswhetherissuedtooneorseveralqualifiedcommunity | |
| 3425 | - | 75 developmententities; | |
| 3426 | - | 76 (9)"Taxcredit",acreditagainstthetaxotherwisedueunderchapter | |
| 3427 | - | 77 143,excludingwithholdingtaximposedinsections143.191to143.265,or | |
| 3428 | - | 78 otherwisedueundersection375.916orchapter147,148,or153; | |
| 3429 | - | 79 (10)"Taxpayer",anyindividualorentitysubjecttothetaximposedin | |
| 3430 | - | 80 chapter143,excludingwithholdingtaximposedinsections143.191to | |
| 3431 | - | 81 143.265,orthetaximposedinsection375.916orchapter147,148,or153. | |
| 3432 | - | 82 2.Ataxpayerthatmakesaqualifiedequityinvestmentearnsavested | |
| 3433 | - | 83 righttotaxcreditsunderthissection.Oneachcreditallowancedateofsuch | |
| 3434 | - | 84 qualifiedequityinvestmentthetaxpayer,orsubsequentholderofthequalified | |
| 3435 | - | 85 equityinvestment,shallbeentitledtoataxcreditduringthetaxableyear | |
| 3436 | - | 86 includingsuchcreditallowancedate.Thetaxcreditamountshallbeequalto | |
| 3437 | - | 87 theapplicablepercentageoftheadjustedpurchasepricepaidtotheissuerof | |
| 3438 | - | 88 suchqualifiedequityinvestment.Theamountofthetaxcreditclaimedshall | |
| 3439 | - | 89 notexceedtheamountofthetaxpayer'sstatetaxliabilityforthetaxyearfor | |
| 3440 | - | 90 whichthetaxcreditisclaimed.Notaxcreditclaimedunderthissectionshall | |
| 3441 | - | 91 berefundableortransferable.Taxcreditsearnedbyapartnership,limited | |
| 3442 | - | 92 liabilitycompany,S-corporation,orotherpass-throughentitymaybeallocated | |
| 3443 | - | 93 tothepartners,members,orshareholdersofsuchentityfortheirdirectusein | |
| 3444 | - | 94 accordancewiththeprovisionsofanyagreementamongsuchpartners, | |
| 3445 | - | 95 members,orshareholders.Anyamountoftaxcreditthatthetaxpayeris | |
| 3446 | - | 96 prohibitedbythissectionfromclaiminginataxableyearmaybecarried | |
| 3447 | - | 97 forwardtoanyofthetaxpayer'sfivesubsequenttaxableyears.The | |
| 3448 | - | 98 departmentofeconomicdevelopmentshalllimitthemonetaryamountof | |
| 3449 | - | 99 qualifiedequityinvestmentspermittedunderthissectiontoalevelnecessary | |
| 3450 | - | 100 tolimittaxcreditutilizationatnomorethantwenty-fivemilliondollarsoftax | |
| 3451 | - | 101 creditsinanyfiscalyear.Suchlimitationonqualifiedequityinvestmentsshall | |
| 3452 | - | 102 bebasedontheanticipatedutilizationofcreditswithoutregardtothepotential | |
| 3453 | - | 103 fortaxpayerstocarryforwardtaxcreditstolatertaxyears. | |
| 3454 | - | 104 3.Theissuerofthequalifiedequityinvestmentshallcertifytothe | |
| 3455 | - | 105 departmentofeconomicdevelopmenttheanticipateddollaramountofsuch | |
| 3456 | - | 106 investmentstobemadeinthisstateduringthefirsttwelve-monthperiod | |
| 3457 | - | 107 followingtheinitialcreditallowancedate.Ifonthesecondcreditallowance | |
| 3458 | - | 108 date,theactualdollaramountofsuchinvestmentsisdifferentthantheamount | |
| 3459 | - | 109 estimated,thedepartmentofeconomicdevelopmentshalladjustthecredits | |
| 3460 | - | 110 arisingonthesecondallowancedatetoaccountforsuchdifference. | |
| 3461 | - | 111 4.Thedepartmentofeconomicdevelopmentshallrecapturethetax | |
| 3462 | - | 112 creditallowedunderthissectionwithrespecttosuchqualifiedequity | |
| 3463 | - | 113 investmentunderthissectionif: | |
| 3464 | - | 114 (1)Anyamountofthefederaltaxcreditavailablewithrespecttoa | |
| 3465 | - | 115 qualifiedequityinvestmentthatiseligibleforataxcreditunderthissectionis | |
| 3466 | - | 116 recapturedunderSection45DoftheInternalRevenueCodeof1986,as | |
| 3467 | - | 117 amended;or | |
| 3468 | - | 118 (2)Theissuerredeemsormakesprincipalrepaymentwithrespecttoa | |
| 3469 | - | 119 qualifiedequityinvestmentpriortotheseventhanniversaryoftheissuanceof | |
| 3470 | - | HCSHB2319 90 120 suchqualifiedequityinvestment.Anytaxcreditthatissubjecttorecapture | |
| 3471 | - | 121 shallberecapturedfromthetaxpayerthatclaimedthetaxcreditonareturn. | |
| 3472 | - | 122 5.Thedepartmentofeconomicdevelopmentshallpromulgaterulesto | |
| 3473 | - | 123 implementtheprovisionsofthissection,includingrecaptureprovisionsona | |
| 3474 | - | 124 scaledproportionalbasis,andtoadministertheallocationoftaxcreditsissued | |
| 3475 | - | 125 forqualifiedequityinvestments,whichshallbeconductedonafirst-come, | |
| 3476 | - | 126 first-servebasis.Anyruleorportionofarule,asthattermisdefinedin | |
| 3477 | - | 127 section536.010,thatiscreatedundertheauthoritydelegatedinthissection | |
| 3478 | - | 128 shallbecomeeffectiveonlyifitcomplieswithandissubjecttoallofthe | |
| 3479 | - | 129 provisionsofchapter536and,ifapplicable,section536.028.Thissectionand | |
| 3480 | - | 130 chapter536arenonseverableandifanyofthepowersvestedwiththegeneral | |
| 3481 | - | 131 assemblypursuanttochapter536toreview,todelaytheeffectivedate,orto | |
| 3482 | - | 132 disapproveandannularulearesubsequentlyheldunconstitutional,thenthe | |
| 3483 | - | 133 grantofrulemakingauthorityandanyruleproposedoradoptedafter | |
| 3484 | - | 134 September4,2007,shallbeinvalidandvoid. | |
| 3485 | - | 135 6.Forfiscalyearsfollowingfiscalyear2010,qualifiedequity | |
| 3486 | - | 136 investmentsshallnotbemadeunderthissectionunlessreauthorizationis | |
| 3487 | - | 137 madepursuanttothissubsection.Forallfiscalyearsfollowingfiscalyear | |
| 3488 | - | 138 2010,unlessthegeneralassemblyadoptsaconcurrentresolutiongranting | |
| 3489 | - | 139 authoritytothedepartmentofeconomicdevelopmenttoapprovequalified | |
| 3490 | - | 140 equityinvestmentsfortheMissourinewmarketsdevelopmentprogramand | |
| 3491 | - | 141 clearlydescribingtheamountoftaxcreditsavailableforthenextfiscalyear, | |
| 3492 | - | 142 orotherwisecomplieswiththeprovisionsofthissubsection,noqualified | |
| 3493 | - | 143 equityinvestmentsmaybepermittedtobemadeunderthissection.The | |
| 3494 | - | 144 amountofavailabletaxcreditscontainedinsucharesolutionshallnotexceed | |
| 3495 | - | 145 thelimitationprovidedundersubsection2ofthissection.Inanyyearin | |
| 3496 | - | 146 whichtheprovisionsofthissectionshallsunsetpursuanttosubsection7of | |
| 3497 | - | 147 thissection,reauthorizationshallbemadebygenerallawandnotby | |
| 3498 | - | 148 concurrentresolution.Nothinginthissubsectionshallprecludeataxpayer | |
| 3499 | - | 149 whomakesaqualifiedequityinvestmentpriortotheexpirationofauthorityto | |
| 3500 | - | 150 makequalifiedequityinvestmentsfromclaimingtaxcreditsrelatingtosuch | |
| 3501 | - | 151 qualifiedequityinvestmentforeachapplicablecreditallowancedate. | |
| 3502 | - | 152 7.Undersection23.253oftheMissourisunsetact: | |
| 3503 | - | 153 (1)Theprovisionsofthenewprogramauthorizedunderthissection | |
| 3504 | - | 154 shallautomaticallysunsetsixyearsafterSeptember4,2007,unless | |
| 3505 | - | 155 reauthorizedbyanactofthegeneralassembly;and | |
| 3506 | - | 156 (2)Ifsuchprogramisreauthorized,theprogramauthorizedunderthis | |
| 3507 | - | 157 sectionshallautomaticallysunsettwelveyearsaftertheeffectivedateofthe | |
| 3508 | - | 158 reauthorizationofthissection;and | |
| 3509 | - | 159 (3)ThissectionshallterminateonSeptemberfirstofthecalendaryear | |
| 3510 | - | 160 immediatelyfollowingthecalendaryearinwhichtheprogramauthorized | |
| 3511 | - | 161 underthissectionissunset.However,nothinginthissubsectionshallpreclude | |
| 3512 | - | 162 ataxpayerwhomakesaqualifiedequityinvestmentpriortosunsetofthis | |
| 3513 | - | 163 sectionundertheprovisionsofsection23.253fromclaimingtaxcredits | |
| 3514 | - | 164 relatingtosuchqualifiedequityinvestmentforeachcreditallowancedate.] | |
| 3515 | - | [135.682.1.Thedirectorofthedepartmentofeconomicdevelopment | |
| 3516 | - | 2 orthedirector'sdesigneeshallissueletterrulingsregardingthetaxcredit | |
| 3517 | - | HCSHB2319 91 3 programauthorizedundersection135.680,subjecttothetermsandconditions | |
| 3518 | - | 4 setforthinthissection.Thedirectorofthedepartmentofeconomic | |
| 3519 | - | 5 developmentmayimposeadditionaltermsandconditionsconsistentwiththis | |
| 3520 | - | 6 sectiontorequestsforletterrulingsbyregulationpromulgatedunderchapter | |
| 3521 | - | 7 536.Forthepurposesofthissection,theterm"letterruling"meansawritten | |
| 3522 | - | 8 interpretationoflawtoaspecificsetoffactsprovidedbytheapplicant | |
| 3523 | - | 9 requestingaletterruling. | |
| 3524 | - | 10 2.Thedirectorordirector'sdesigneeshallrespondtoarequestfora | |
| 3525 | - | 11 letterrulingwithinsixtydaysofreceiptofsuchrequest.Theapplicantmay | |
| 3526 | - | 12 provideadraftletterrulingforthedepartment'sconsideration.Theapplicant | |
| 3527 | - | 13 maywithdrawtherequestforaletterruling,inwriting,priortotheissuanceof | |
| 3528 | - | 14 theletterruling.Thedirectororthedirector'sdesigneemayrefusetoissuea | |
| 3529 | - | 15 letterrulingforgoodcause,butmustlistthespecificreasonsforrefusingto | |
| 3530 | - | 16 issuetheletterruling.Goodcauseincludes,butisnotlimitedto: | |
| 3531 | - | 17 (1)Theapplicantrequeststhedirectortodeterminewhetherastatute | |
| 3532 | - | 18 isconstitutionaloraregulationislawful; | |
| 3533 | - | 19 (2)Therequestinvolvesahypotheticalsituationoralternativeplans; | |
| 3534 | - | 20 (3)Thefactsorissuespresentedintherequestareunclear,overbroad, | |
| 3535 | - | 21 insufficient,orotherwiseinappropriateasabasisuponwhichtoissuealetter | |
| 3536 | - | 22 ruling;and | |
| 3537 | - | 23 (4)Theissueiscurrentlybeingconsideredinarulemakingprocedure, | |
| 3538 | - | 24 contestedcase,orotheragencyorjudicialproceedingthatmaydefinitely | |
| 3539 | - | 25 resolvetheissue. | |
| 3540 | - | 26 3.Letterrulingsshallbindthedirectorandthedirector'sagentsand | |
| 3541 | - | 27 theirsuccessorsuntilsuchtimeasthetaxpayeroritsshareholders,members, | |
| 3542 | - | 28 orpartners,asapplicable,claimallofsuchtaxcreditsonaMissouritaxreturn, | |
| 3543 | - | 29 subjecttothetermsandconditionssetforthinproperlypublishedregulations. | |
| 3544 | - | 30 Theletterrulingshallapplyonlytotheapplicant. | |
| 3545 | - | 31 4.Letterrulingsissuedundertheauthorityofthissectionshallnotbea | |
| 3546 | - | 32 ruleasdefinedinsection536.010inthatitisaninterpretationissuedbythe | |
| 3547 | - | 33 departmentwithrespecttoaspecificsetoffactsandintendedtoapplyonlyto | |
| 3548 | - | 34 thatspecificsetoffacts,andthereforeshallnotbesubjecttotherulemaking | |
| 3549 | - | 35 requirementsofchapter536. | |
| 3550 | - | 36 5.Informationinletterrulingrequestsasdescribedinsection620.014 | |
| 3551 | - | 37 shallbeclosedtothepublic.Copiesofletterrulingsshallbeavailabletothe | |
| 3552 | - | 38 publicprovidedthattheapplicantidentifyinginformationandotherwise | |
| 3553 | - | 39 protectedinformationisredactedfromtheletterrulingasprovidedin | |
| 3554 | - | 40 subsection1ofsection610.024.] | |
| 3555 | - | [135.700.ForalltaxyearsbeginningonorafterJanuary1,1999,a | |
| 3556 | - | 2 grapegrowerorwineproducershallbeallowedataxcreditagainstthestate | |
| 3557 | - | 3 taxliabilityincurredpursuanttochapter143,exclusiveoftheprovisions | |
| 3558 | - | 4 relatingtothewithholdingoftaxasprovidedinsections143.191to143.265, | |
| 3559 | - | 5 inanamountequaltotwenty-fivepercentofthepurchasepriceofallnew | |
| 3560 | - | 6 equipmentandmaterialsuseddirectlyinthegrowingofgrapesorthe | |
| 3561 | - | 7 productionofwineinthestate.Eachgrowerorproducershallapplytothe | |
| 3562 | - | 8 departmentofeconomicdevelopmentandspecifythetotalamountofsuch | |
| 3563 | - | 9 newequipmentandmaterialspurchasedduringthecalendaryear.The | |
| 3564 | - | HCSHB2319 92 10 departmentofeconomicdevelopmentshallcertifytothedepartmentof | |
| 3565 | - | 11 revenuetheamountofsuchtaxcredittowhichagrapegrowerorwine | |
| 3566 | - | 12 producerisentitledpursuanttothissection.Theprovisionsofthissection | |
| 3567 | - | 13 notwithstanding,agrowerorproducermayonlyapplyforandreceivethe | |
| 3568 | - | 14 creditauthorizedbythissectionforfivetaxperiods.] | |
| 3569 | - | [135.710.1.Asusedinthissection,thefollowingtermsmean: | |
| 3570 | - | 2 (1)"Alternativefuelvehiclerefuelingproperty",propertyinthisstate | |
| 3571 | - | 3 ownedbyaneligibleapplicantandusedforstoringalternativefuelsandfor | |
| 3572 | - | 4 dispensingsuchalternativefuelsintofueltanksofmotorvehiclesownedby | |
| 3573 | - | 5 sucheligibleapplicantorprivatecitizens; | |
| 3574 | - | 6 (2)"Alternativefuels",anymotorfuelatleastseventypercentofthe | |
| 3575 | - | 7 volumeofwhichconsistsofoneormoreofthefollowing: | |
| 3576 | - | 8 (a)Ethanol; | |
| 3577 | - | 9 (b)Naturalgas; | |
| 3578 | - | 10 (c)Compressednaturalgas,orCNG; | |
| 3579 | - | 11 (d)Liquifiednaturalgas,orLNG; | |
| 3580 | - | 12 (e)Liquifiedpetroleumgas,orLPgas,propane,orautogas; | |
| 3581 | - | 13 (f)Anymixtureofbiodieselanddieselfuel,withoutregardtoanyuse | |
| 3582 | - | 14 ofkerosene; | |
| 3583 | - | 15 (g)Hydrogen; | |
| 3584 | - | 16 (3)"Department",thedepartmentofeconomicdevelopment; | |
| 3585 | - | 17 (4)"Electricvehiclerechargingproperty",propertyinthisstateowned | |
| 3586 | - | 18 byaneligibleapplicantandusedforrechargingelectricmotorvehiclesowned | |
| 3587 | - | 19 bysucheligibleapplicantorprivatecitizens; | |
| 3588 | - | 20 (5)"Eligibleapplicant",abusinessentityorprivatecitizenthatisthe | |
| 3589 | - | 21 ownerofanelectricvehiclerechargingpropertyoranalternativefuelvehicle | |
| 3590 | - | 22 refuelingproperty; | |
| 3591 | - | 23 (6)"QualifiedMissouricontractor",acontractorwhoseprincipalplace | |
| 3592 | - | 24 ofbusinessislocatedinMissouriandhasbeenlocatedinMissouriforaperiod | |
| 3593 | - | 25 ofnotlessthanfiveyears; | |
| 3594 | - | 26 (7)"Qualifiedproperty",anelectricvehiclerechargingpropertyoran | |
| 3595 | - | 27 alternativefuelvehiclerefuelingpropertywhich,ifconstructedafterAugust | |
| 3596 | - | 28 28,2014,wasconstructedwithatleastfifty-onepercentofthecostsbeingpaid | |
| 3597 | - | 29 toqualifiedMissouricontractorsforthe: | |
| 3598 | - | 30 (a)Fabricationofpremanufacturedequipmentorprocesspipingused | |
| 3599 | - | 31 intheconstructionofsuchfacility; | |
| 3600 | - | 32 (b)Constructionofsuchfacility;and | |
| 3601 | - | 33 (c)Generalmaintenanceofsuchfacilityduringthetimeperiodin | |
| 3602 | - | 34 whichsuchfacilityreceivesanytaxcreditunderthissection. | |
| 3603 | - | 35 | |
| 3604 | - | 36 IfnoqualifiedMissouricontractorislocatedwithinseventy-fivemilesofthe | |
| 3605 | - | 37 property,therequirementthatfifty-onepercentofthecostsshallbepaidto | |
| 3606 | - | 38 qualifiedMissouricontractorsshallnotapply. | |
| 3607 | - | 39 2.ForalltaxyearsbeginningonorafterJanuary1,2015,butbefore | |
| 3608 | - | 40 January1,2018,anyeligibleapplicantwhoinstallsandoperatesaqualified | |
| 3609 | - | 41 propertyshallbeallowedacreditagainstthetaxotherwisedueunderchapter | |
| 3610 | - | 42 143,excludingwithholdingtaximposedbysections143.191to143.265,or | |
| 3611 | - | HCSHB2319 93 43 dueunderchapter147orchapter148foranytaxyearinwhichtheapplicantis | |
| 3612 | - | 44 constructingthequalifiedproperty.Thecreditallowedinthissectionper | |
| 3613 | - | 45 eligibleapplicantwhoisaprivatecitizenshallnotexceedfifteenhundred | |
| 3614 | - | 46 dollarsorpereligibleapplicantthatisabusinessentityshallnotexceedthe | |
| 3615 | - | 47 lesseroftwentythousanddollarsortwentypercentofthetotalcostsdirectly | |
| 3616 | - | 48 associatedwiththepurchaseandinstallationofanyalternativefuelstorageand | |
| 3617 | - | 49 dispensingequipmentoranyrechargingequipmentonanyqualifiedproperty, | |
| 3618 | - | 50 whichshallnotincludethefollowing: | |
| 3619 | - | 51 (1)Costsassociatedwiththepurchaseoflanduponwhichtoplacea | |
| 3620 | - | 52 qualifiedproperty; | |
| 3621 | - | 53 (2)Costsassociatedwiththepurchaseofanexistingqualified | |
| 3622 | - | 54 property;or | |
| 3623 | - | 55 (3)Costsfortheconstructionorpurchaseofanystructure. | |
| 3624 | - | 56 3.Taxcreditsallowedbythissectionshallbeclaimedbytheeligible | |
| 3625 | - | 57 applicantatthetimesuchapplicantfilesareturnforthetaxyearinwhichthe | |
| 3626 | - | 58 storageanddispensingorrechargingfacilitieswereplacedinserviceata | |
| 3627 | - | 59 qualifiedproperty,andshallbeappliedagainsttheincometaxliability | |
| 3628 | - | 60 imposedbychapter143,chapter147,orchapter148afterallothercredits | |
| 3629 | - | 61 providedbylawhavebeenapplied.Thecumulativeamountoftaxcredits | |
| 3630 | - | 62 whichmaybeclaimedbyeligibleapplicantsclaimingallcreditsauthorizedin | |
| 3631 | - | 63 thissectionshallnotexceedonemilliondollarsinanycalendaryear,subjectto | |
| 3632 | - | 64 appropriations. | |
| 3633 | - | 65 4.Iftheamountofthetaxcreditexceedstheeligibleapplicant'stax | |
| 3634 | - | 66 liability,thedifferenceshallnotberefundable.Anyamountofcreditthatan | |
| 3635 | - | 67 eligibleapplicantisprohibitedbythissectionfromclaiminginataxableyear | |
| 3636 | - | 68 maybecarriedforwardtoanyofsuchapplicant'stwosubsequenttaxable | |
| 3637 | - | 69 years.Taxcreditsallowedunderthissectionmaybeassigned,transferred, | |
| 3638 | - | 70 sold,orotherwiseconveyed. | |
| 3639 | - | 71 5.Anyqualifiedproperty,forwhichaneligibleapplicantreceivestax | |
| 3640 | - | 72 creditsunderthissection,whichceasestosellalternativefuelorrecharge | |
| 3641 | - | 73 electricvehiclesshallcausetheforfeitureofsucheligibleapplicant'stax | |
| 3642 | - | 74 creditsprovidedunderthissectionforthetaxableyearinwhichthequalified | |
| 3643 | - | 75 propertyceasedtosellalternativefuelorrechargeelectricvehiclesandfor | |
| 3644 | - | 76 futuretaxableyearswithnorecaptureoftaxcreditsobtainedbyaneligible | |
| 3645 | - | 77 applicantwithrespecttosuchapplicant'staxyearswhichendedbeforethesale | |
| 3646 | - | 78 ofalternativefuelorrechargingofelectricvehiclesceased. | |
| 3647 | - | 79 6.Thedirectorofrevenueshallestablishtheprocedurebywhichthe | |
| 3648 | - | 80 taxcreditsinthissectionmaybeclaimed,andshallestablishaprocedureby | |
| 3649 | - | 81 whichthecumulativeamountoftaxcreditsisapportionedequallyamongall | |
| 3650 | - | 82 eligibleapplicantsclaimingthecredit.Tothemaximumextentpossible,the | |
| 3651 | - | 83 directorofrevenueshallestablishtheproceduredescribedinthissubsectionin | |
| 3652 | - | 84 suchamannerastoensurethateligibleapplicantscanclaimallthetaxcredits | |
| 3653 | - | 85 possibleuptothecumulativeamountoftaxcreditsavailableforthetaxable | |
| 3654 | - | 86 year.Noeligibleapplicantclaimingataxcreditunderthissectionshallbe | |
| 3655 | - | 87 liableforanyinterestorpenaltyforfilingataxreturnafterthedatefixedfor | |
| 3656 | - | 88 filingsuchreturnasaresultoftheapportionmentprocedureunderthis | |
| 3657 | - | 89 subsection. | |
| 3658 | - | HCSHB2319 94 90 7.Anyeligibleapplicantdesiringtoclaimataxcreditunderthis | |
| 3659 | - | 91 sectionshallsubmittheappropriateapplicationforsuchcreditwiththe | |
| 3660 | - | 92 department.Theapplicationforataxcreditunderthissectionshallinclude | |
| 3661 | - | 93 anyinformationrequiredbythedepartment.Thedepartmentshallreviewthe | |
| 3662 | - | 94 applicationsandcertifytothedepartmentofrevenueeacheligibleapplicant | |
| 3663 | - | 95 thatqualifiesforthetaxcredit. | |
| 3664 | - | 96 8.Thedepartmentandthedepartmentofrevenuemaypromulgate | |
| 3665 | - | 97 rulestoimplementtheprovisionsofthissection.Anyruleorportionofarule, | |
| 3666 | - | 98 asthattermisdefinedinsection536.010,thatiscreatedundertheauthority | |
| 3667 | - | 99 delegatedinthissectionshallbecomeeffectiveonlyifitcomplieswithandis | |
| 3668 | - | 100 subjecttoalloftheprovisionsofchapter536and,ifapplicable,section | |
| 3669 | - | 101 536.028.Thissectionandchapter536arenonseverableandifanyofthe | |
| 3670 | - | 102 powersvestedwiththegeneralassemblypursuanttochapter536toreview,to | |
| 3671 | - | 103 delaytheeffectivedate,ortodisapproveandannularulearesubsequently | |
| 3672 | - | 104 heldunconstitutional,thenthegrantofrulemakingauthorityandanyrule | |
| 3673 | - | 105 proposedoradoptedafterAugust28,2008,shallbeinvalidandvoid. | |
| 3674 | - | 106 9.Theprovisionsofsection23.253oftheMissourisunsetact | |
| 3675 | - | 107 notwithstanding: | |
| 3676 | - | 108 (1)Theprovisionsofthenewprogramauthorizedunderthissection | |
| 3677 | - | 109 shallautomaticallysunsetthreeyearsafterDecember31,2014,unless | |
| 3678 | - | 110 reauthorizedbyanactofthegeneralassembly;and | |
| 3679 | - | 111 (2)Ifsuchprogramisreauthorized,theprogramauthorizedunderthis | |
| 3680 | - | 112 sectionshallautomaticallysunsetsixyearsaftertheeffectivedateofthe | |
| 3681 | - | 113 reauthorizationofthissection;and | |
| 3682 | - | 114 (3)ThissectionshallterminateonDecemberthirty-firstofthe | |
| 3683 | - | 115 calendaryearimmediatelyfollowingthecalendaryearinwhichtheprogram | |
| 3684 | - | 116 authorizedunderthissectionissunset;and | |
| 3685 | - | 117 (4)Theprovisionsofthissubsectionshallnotbeconstruedtolimitor | |
| 3686 | - | 118 inanywayimpairthedepartment'sabilitytoredeemtaxcreditsauthorizedon | |
| 3687 | - | 119 orbeforethedatetheprogramauthorizedunderthissectionexpiresora | |
| 3688 | - | 120 taxpayer'sabilitytoredeemsuchtaxcredits.] | |
| 3689 | - | [135.766.Aneligiblesmallbusiness,asdefinedinSection44ofthe | |
| 3690 | - | 2 InternalRevenueCode,shallbeallowedacreditagainstthetaxotherwisedue | |
| 3691 | - | 3 pursuanttochapter143,notincludingsections143.191to143.265,inan | |
| 3692 | - | 4 amountequaltoanyamountpaidbytheeligiblesmallbusinesstotheUnited | |
| 3693 | - | 5 StatesSmallBusinessAdministrationasaguarantyfeepursuanttoobtaining | |
| 3694 | - | 6 SmallBusinessAdministrationguaranteedfinancingandtoprograms | |
| 3695 | - | 7 administeredbytheUnitedStatesDepartmentofAgricultureforrural | |
| 3696 | - | 8 developmentorfarmserviceagencies.Notaxcreditsprovidedunderthis | |
| 3697 | - | 9 sectionshallbeauthorizedonorafterthethirtiethdayfollowingtheeffective | |
| 3698 | - | 10 dateofthisact.Theprovisionsofthissubsectionshallnotbeconstruedto | |
| 3699 | - | 11 limitorinanywayimpairthedepartment'sabilitytoissuetaxcredits | |
| 3700 | - | 12 authorizedpriortothethirtiethdayfollowingtheeffectivedateofthisact,ora | |
| 3701 | - | 13 taxpayer'sabilitytoredeemsuchtaxcredits.] | |
| 3702 | - | [173.196.1.Anybusinessfirm,asdefinedinsection32.105,may | |
| 3703 | - | 2 makeadonationtothe"MissouriHigherEducationScholarshipDonation | |
| 3704 | - | HCSHB2319 95 3 Fund",whichisherebycreatedinthestatetreasury.Adonatingbusinessfirm | |
| 3705 | - | 4 shallreceiveataxcreditasprovidedinthissectionequaltofiftypercentofthe | |
| 3706 | - | 5 amountofthedonation,exceptthattaxcreditsshallbeawardedeachfiscal | |
| 3707 | - | 6 yearintheorderdonationsarereceivedandtheamountoftaxcredits | |
| 3708 | - | 7 authorizedshalltotalnomorethantwohundredandfiftythousanddollarsfor | |
| 3709 | - | 8 eachfiscalyear. | |
| 3710 | - | 9 2.Thedepartmentofrevenueshallgranttaxcreditsapprovedunder | |
| 3711 | - | 10 thissectionwhichshallbeappliedintheorderspecifiedinsubsection1of | |
| 3712 | - | 11 section32.115untilused.Thetaxcreditsprovidedunderthissectionshallbe | |
| 3713 | - | 12 refundable,andanytaxcreditnotusedinthefiscalyearinwhichapproved | |
| 3714 | - | 13 maybecarriedoverthenextfivesucceedingcalendarorfiscalyearsuntilthe | |
| 3715 | - | 14 fullcredithasbeenclaimed.Notwithstandinganyotherlawtothecontrary, | |
| 3716 | - | 15 anytaxcreditsgrantedunderthissectionmaybeassigned,transferred,sold,or | |
| 3717 | - | 16 otherwiseconveyedwithoutconsentorapproval.Suchtaxpayer,hereinafter | |
| 3718 | - | 17 theassignorforpurposesofthissection,maysell,assign,exchange,or | |
| 3719 | - | 18 otherwisetransferearnedtaxcredits: | |
| 3720 | - | 19 (1)Fornolessthanseventy-fivepercentoftheparvalueofsuch | |
| 3721 | - | 20 credits;and | |
| 3722 | - | 21 (2)Inanamountnottoexceedonehundredpercentofannualearned | |
| 3723 | - | 22 credits. | |
| 3724 | - | 23 3.Notaxcreditauthorizedunderthissectionmaybeappliedagainst | |
| 3725 | - | 24 anytaxappliedinataxyearbeginningpriortoJanuary1,1995. | |
| 3726 | - | 25 4.Allrevenuescreditedtothefundshallbeused,subjectto | |
| 3727 | - | 26 appropriations,toprovidescholarshipsauthorizedundersections173.197to | |
| 3728 | - | 27 173.199,andfornootherpurpose. | |
| 3729 | - | 28 5.ForalltaxyearsbeginningonorafterJanuary1,2005,notax | |
| 3730 | - | 29 creditsshallbeauthorized,awarded,orissuedtoanypersonorentityclaiming | |
| 3731 | - | 30 anytaxcreditunderthissection.] | |
| 3732 | - | [320.093.1.Anyperson,firmorcorporationwhopurchasesadryfire | |
| 3733 | - | 2 hydrant,asdefinedinsection320.273,orprovidesanacceptablemeansof | |
| 3734 | - | 3 waterstorageforsuchdryfirehydrantincludingapond,tankorotherstorage | |
| 3735 | - | 4 facilitywiththeprimarypurposeoffireprotectionwithinthestateofMissouri, | |
| 3736 | - | 5 shallbeeligibleforacreditonincometaxesotherwiseduepursuanttochapter | |
| 3737 | - | 6 143,exceptsections143.191to143.261,asanincentivetoimplementsafeand | |
| 3738 | - | 7 efficientfireprotectioncontrols.Thetaxcredit,nottoexceedfivethousand | |
| 3739 | - | 8 dollars,shallbeequaltofiftypercentofthecostinactualexpenditureforany | |
| 3740 | - | 9 newwaterstorageconstruction,equipment,developmentandinstallationof | |
| 3741 | - | 10 thedryhydrant,includingpipes,valves,hydrantsandlaborforeachsuch | |
| 3742 | - | 11 installationofadryhydrantornewwaterstoragefacility.Theamountofthe | |
| 3743 | - | 12 taxcreditclaimedforin-kindcontributionsshallnotexceedtwenty-five | |
| 3744 | - | 13 percentofthetotalamountofthecontributionforwhichthetaxcreditis | |
| 3745 | - | 14 claimed. | |
| 3746 | - | 15 2.Anyamountofcreditwhichexceedsthetaxdueshallnotbe | |
| 3747 | - | 16 refundedbutmaybecarriedovertoanysubsequenttaxableyear,nottoexceed | |
| 3748 | - | 17 sevenyears.Theperson,firmorcorporationmayelecttoassigntoathird | |
| 3749 | - | 18 partytheapprovedtaxcredit.Thecertificateofassignmentandother | |
| 3750 | - | HCSHB2319 96 19 appropriateformsshallbefiledwiththeMissouridepartmentofrevenueand | |
| 3751 | - | 20 thedepartmentofeconomicdevelopment. | |
| 3752 | - | 21 3.Theperson,firmorcorporationshallmakeapplicationforthecredit | |
| 3753 | - | 22 tothedepartmentofeconomicdevelopmentafterreceivingapprovalofthe | |
| 3754 | - | 23 statefiremarshal.Thefiremarshalshallestablishbyrulepromulgated | |
| 3755 | - | 24 pursuanttochapter536therequirementstobemetbasedontheNational | |
| 3756 | - | 25 ResourcesConservationService'sDryHydrantStandard.Thestatefire | |
| 3757 | - | 26 marshalordesignatedlocalrepresentativeshallreviewandauthorizethe | |
| 3758 | - | 27 constructionandinstallationofanydryfirehydrantsite.Onlyapproveddry | |
| 3759 | - | 28 firehydrantsitesshallbeeligiblefortaxcreditsasindicatedinthissection. | |
| 3760 | - | 29 Undernocircumstanceshallsuchauthoritydenyanyentitytheabilityto | |
| 3761 | - | 30 provideadryfirehydrantsitewhentaxcreditsarenotrequested. | |
| 3762 | - | 31 4.Thedepartmentofpublicsafetyshallcertifytothedepartmentof | |
| 3763 | - | 32 revenuethatthedryhydrantsystemmeetstherequirementstoobtainatax | |
| 3764 | - | 33 creditasspecifiedinsubsection5ofthissection. | |
| 3765 | - | 34 5.Inordertoqualifyforataxcreditunderthissection,adryhydrant | |
| 3766 | - | 35 ornewwaterstoragefacilityshallmeetthefollowingminimumrequirements: | |
| 3767 | - | 36 (1)Eachbodyofwaterorwaterstoragestructureshallbeableto | |
| 3768 | - | 37 providetwohundredfiftygallonsperminuteforacontinuoustwo-hourperiod | |
| 3769 | - | 38 duringafifty-yeardroughtorfreezeataverticalliftofeighteenfeet; | |
| 3770 | - | 39 (2)Eachdryhydrantshallbelocatedwithintwenty-fivefeetofanall- | |
| 3771 | - | 40 weatherroadwayandshallbeaccessibletofireprotectionequipment; | |
| 3772 | - | 41 (3)Dryhydrantsshallbelocatedareasonabledistancefromotherdry | |
| 3773 | - | 42 orpressurizedhydrants;and | |
| 3774 | - | 43 (4)Thesiteshallprovideameasurableeconomicimprovement | |
| 3775 | - | 44 potentialforruraldevelopment. | |
| 3776 | - | 45 6.NewcreditsshallnotbeawardedunderthissectionafterAugust28, | |
| 3777 | - | 46 2010.Thetotalamountofalltaxcreditsallowedpursuanttothissectionis | |
| 3778 | - | 47 fivehundredthousanddollarsinanyonefiscalyearasapprovedbythe | |
| 3779 | - | 48 directorofthedepartmentofeconomicdevelopment. | |
| 3780 | - | 49 7.Anyruleorportionofarule,asthattermisdefinedinsection | |
| 3781 | - | 50 536.010,thatiscreatedundertheauthoritydelegatedinthissectionshall | |
| 3782 | - | 51 becomeeffectiveonlyifitcomplieswithandissubjecttoalloftheprovisions | |
| 3783 | - | 52 ofchapter536and,ifapplicable,section536.028.Thissectionandchapter | |
| 3784 | - | 53 536arenonseverableandifanyofthepowersvestedwiththegeneral | |
| 3785 | - | 54 assemblypursuanttochapter536toreview,todelaytheeffectivedateorto | |
| 3786 | - | 55 disapproveandannularulearesubsequentlyheldunconstitutional,thenthe | |
| 3787 | - | 56 grantofrulemakingauthorityandanyruleproposedoradoptedafterAugust | |
| 3788 | - | 57 28,2007,shallbeinvalidandvoid.] | |
| 3789 | - | [348.300.Asusedinsections348.300to348.318,thefollowingterms | |
| 3790 | - | 2 mean: | |
| 3791 | - | 3 (1)"CommercialactivitylocatedinMissouri",anyresearch, | |
| 3792 | - | 4 development,prototypefabrication,andsubsequentprecommercialization | |
| 3793 | - | 5 activity,oranyactivityrelatedthereto,conductedinMissouriforthepurpose | |
| 3794 | - | 6 ofproducingaserviceoraproductorprocessformanufacture,assemblyor | |
| 3795 | - | 7 saleordevelopingaservicebasedonsuchaproductorprocessbyanyperson, | |
| 3796 | - | 8 corporation,partnership,jointventure,unincorporatedassociation,trustor | |
| 3797 | - | HCSHB2319 97 9 otherorganizationdoingbusinessinMissouri.SubsequenttoJanuary1,1999, | |
| 3798 | - | 10 acommercialactivitylocatedinMissourishallmeanonlysuchactivitythatis | |
| 3799 | - | 11 locatedwithinadistressedcommunity,asdefinedinsection135.530; | |
| 3800 | - | 12 (2)"Follow-upcapital",capitalprovidedtoacommercialactivity | |
| 3801 | - | 13 locatedinMissouriinwhichaqualifiedfundhaspreviouslyinvestedseed | |
| 3802 | - | 14 capitalorstart-upcapitalandwhichdoesnotexceedtentimestheamountof | |
| 3803 | - | 15 suchseedandstart-upcapital; | |
| 3804 | - | 16 (3)"Person",anyindividual,corporation,partnership,orotherentity, | |
| 3805 | - | 17 includinganycharitablecorporationwhichisexemptfromfederalincometax | |
| 3806 | - | 18 andwhoseMissouriunrelatedbusinesstaxableincome,ifany,wouldbe | |
| 3807 | - | 19 subjecttothestateincometaximposedunderchapter143; | |
| 3808 | - | 20 (4)"Qualifiedcontribution",cashcontributiontoaqualifiedfund; | |
| 3809 | - | 21 (5)"Qualifiedeconomicdevelopmentorganization",anycorporation | |
| 3810 | - | 22 organizedundertheprovisionsofchapter355whichhasasofJanuary1,1991, | |
| 3811 | - | 23 obtainedacontractwiththedepartmentofeconomicdevelopmenttooperate | |
| 3812 | - | 24 aninnovationcentertopromote,assistandcoordinatetheresearchand | |
| 3813 | - | 25 developmentofnewservices,productsorprocessesinthestateofMissouri; | |
| 3814 | - | 26 andtheMissouritechnologycorporationorganizedpursuanttotheprovisions | |
| 3815 | - | 27 ofsections348.250to348.275; | |
| 3816 | - | 28 (6)"Qualifiedfund",anycorporation,partnership,jointventure, | |
| 3817 | - | 29 unincorporatedassociation,trustorotherorganizationwhichisestablished | |
| 3818 | - | 30 underthelawsofMissouriafterDecember31,1985,whichmeetsallofthe | |
| 3819 | - | 31 followingrequirementsestablishedbythissubdivision.Thefundshallhaveas | |
| 3820 | - | 32 itssolepurposeandbusinessthemakingofinvestments,ofwhichatleast | |
| 3821 | - | 33 ninetypercentofthedollarsinvestedshallbequalifiedinvestments.Thefund | |
| 3822 | - | 34 shallenterintoacontractwithoneormorequalifiedeconomicdevelopment | |
| 3823 | - | 35 organizationswhichshallentitlethequalifiedeconomicdevelopment | |
| 3824 | - | 36 organizationstoreceivenotlessthantenpercentofalldistributionsof | |
| 3825 | - | 37 equityanddividendsorotherearningsofthefund.Suchcontractsshall | |
| 3826 | - | 38 requirethequalifiedfundtotransfertotheMissouritechnologycorporation | |
| 3827 | - | 39 organizedpursuanttotheprovisionsofsections348.250to348.275this | |
| 3828 | - | 40 interestandmakecorrespondingdistributionstheretointheeventthequalified | |
| 3829 | - | 41 economicdevelopmentorganizationholdingsuchinterestisdissolvedor | |
| 3830 | - | 42 ceasestodobusinessforaperiodofoneyearormore; | |
| 3831 | - | 43 (7)"Qualifiedinvestment",anyinvestmentofseedcapital,start-up | |
| 3832 | - | 44 capital,orfollow-upcapitalinanycommercialactivitylocatedinMissouri; | |
| 3833 | - | 45 (8)"Seedcapital",capitalprovidedtoacommercialactivitylocatedin | |
| 3834 | - | 46 Missouriforresearch,developmentandprecommercializationactivitiesto | |
| 3835 | - | 47 proveaconceptforanewproductorprocessorservice,andforactivities | |
| 3836 | - | 48 relatedthereto; | |
| 3837 | - | 49 (9)"Start-upcapital",capitalprovidedtoacommercialactivitylocated | |
| 3838 | - | 50 inMissouriforuseinpreproductionproductdevelopmentorservice | |
| 3839 | - | 51 developmentorinitialmarketingthereof,andforactivitiesrelatedthereto; | |
| 3840 | - | 52 (10)"Statetaxliability",anystatetaxliabilityincurredbyataxpayer | |
| 3841 | - | 53 undertheprovisionsofchapters143,147and148,exclusiveoftheprovisions | |
| 3842 | - | 54 relatingtothewithholdingoftaxasprovidedforinsections143.191to | |
| 3843 | - | 55 143.265andrelatedprovisions; | |
| 3844 | - | HCSHB2319 98 56 (11)"Uninvestedcapital",theamountofanydistribution,otherthanof | |
| 3845 | - | 57 earnings,byaqualifiedfundmadewithinfiveyearsoftheissuanceofa | |
| 3846 | - | 58 certificateoftaxcreditasprovidedbysections348.300to348.318;orthe | |
| 3847 | - | 59 portionofallqualifiedcontributionstoaqualifiedfundwhicharenotinvested | |
| 3848 | - | 60 asqualifiedinvestmentswithinfiveyearsoftheissuanceofacertificateoftax | |
| 3849 | - | 61 creditasprovidedbysections348.300to348.318totheextentthattheamount | |
| 3850 | - | 62 notsoinvestedexceedstenpercentofallsuchqualifiedcontributions.] | |
| 3851 | - | [348.300.Asusedinsections348.300to348.318,thefollowingterms | |
| 3852 | - | 2 mean: | |
| 3853 | - | 3 (1)"CommercialactivitylocatedinMissouri",anyresearch, | |
| 3854 | - | 4 development,prototypefabrication,andsubsequentprecommercialization | |
| 3855 | - | 5 activity,oranyactivityrelatedthereto,conductedinMissouriforthepurpose | |
| 3856 | - | 6 ofproducingaserviceoraproductorprocessformanufacture,assemblyor | |
| 3857 | - | 7 saleordevelopingaservicebasedonsuchaproductorprocessbyanyperson, | |
| 3858 | - | 8 corporation,partnership,jointventure,unincorporatedassociation,trustor | |
| 3859 | - | 9 otherorganizationdoingbusinessinMissouri.SubsequenttoJanuary1,1999, | |
| 3860 | - | 10 acommercialactivitylocatedinMissourishallmeanonlysuchactivitythatis | |
| 3861 | - | 11 locatedwithinadistressedcommunity,asdefinedinsection135.530; | |
| 3862 | - | 12 (2)"Follow-upcapital",capitalprovidedtoacommercialactivity | |
| 3863 | - | 13 locatedinMissouriinwhichaqualifiedfundhaspreviouslyinvestedseed | |
| 3864 | - | 14 capitalorstart-upcapitalandwhichdoesnotexceedtentimestheamountof | |
| 3865 | - | 15 suchseedandstart-upcapital; | |
| 3866 | - | 16 (3)"Person",anyindividual,corporation,partnership,orotherentity, | |
| 3867 | - | 17 includinganycharitablecorporationwhichisexemptfromfederalincometax | |
| 3868 | - | 18 andwhoseMissouriunrelatedbusinesstaxableincome,ifany,wouldbe | |
| 3869 | - | 19 subjecttothestateincometaximposedunderchapter143; | |
| 3870 | - | 20 (4)"Qualifiedcontribution",cashcontributiontoaqualifiedfund; | |
| 3871 | - | 21 (5)"Qualifiedeconomicdevelopmentorganization",anycorporation | |
| 3872 | - | 22 organizedundertheprovisionsofchapter355whichhasasofJanuary1,1991, | |
| 3873 | - | 23 obtainedacontractwiththedepartmentofeconomicdevelopmenttooperate | |
| 3874 | - | 24 aninnovationcentertopromote,assistandcoordinatetheresearchand | |
| 3875 | - | 25 developmentofnewservices,productsorprocessesinthestateofMissouri; | |
| 3876 | - | 26 andtheMissouritechnologycorporationorganizedpursuanttotheprovisions | |
| 3877 | - | 27 ofsections348.253to348.266; | |
| 3878 | - | 28 (6)"Qualifiedfund",anycorporation,partnership,jointventure, | |
| 3879 | - | 29 unincorporatedassociation,trustorotherorganizationwhichisestablished | |
| 3880 | - | 30 underthelawsofMissouriafterDecember31,1985,whichmeetsallofthe | |
| 3881 | - | 31 followingrequirementsestablishedbythissubdivision.Thefundshallhaveas | |
| 3882 | - | 32 itssolepurposeandbusinessthemakingofinvestments,ofwhichatleast | |
| 3883 | - | 33 ninetypercentofthedollarsinvestedshallbequalifiedinvestments.Thefund | |
| 3884 | - | 34 shallenterintoacontractwithoneormorequalifiedeconomicdevelopment | |
| 3885 | - | 35 organizationswhichshallentitlethequalifiedeconomicdevelopment | |
| 3886 | - | 36 organizationstoreceivenotlessthantenpercentofalldistributionsof | |
| 3887 | - | 37 equityanddividendsorotherearningsofthefund.Suchcontractsshall | |
| 3888 | - | 38 requirethequalifiedfundtotransfertotheMissouritechnologycorporation | |
| 3889 | - | 39 organizedpursuanttotheprovisionsofsections348.253to348.266this | |
| 3890 | - | 40 interestandmakecorrespondingdistributionstheretointheeventthequalified | |
| 3891 | - | HCSHB2319 99 41 economicdevelopmentorganizationholdingsuchinterestisdissolvedor | |
| 3892 | - | 42 ceasestodobusinessforaperiodofoneyearormore; | |
| 3893 | - | 43 (7)"Qualifiedinvestment",anyinvestmentofseedcapital,start-up | |
| 3894 | - | 44 capital,orfollow-upcapitalinanycommercialactivitylocatedinMissouri; | |
| 3895 | - | 45 (8)"Seedcapital",capitalprovidedtoacommercialactivitylocatedin | |
| 3896 | - | 46 Missouriforresearch,developmentandprecommercializationactivitiesto | |
| 3897 | - | 47 proveaconceptforanewproductorprocessorservice,andforactivities | |
| 3898 | - | 48 relatedthereto; | |
| 3899 | - | 49 (9)"Start-upcapital",capitalprovidedtoacommercialactivitylocated | |
| 3900 | - | 50 inMissouriforuseinpreproductionproductdevelopmentorservice | |
| 3901 | - | 51 developmentorinitialmarketingthereof,andforactivitiesrelatedthereto; | |
| 3902 | - | 52 (10)"Statetaxliability",anystatetaxliabilityincurredbyataxpayer | |
| 3903 | - | 53 undertheprovisionsofchapters143,147and148,exclusiveoftheprovisions | |
| 3904 | - | 54 relatingtothewithholdingoftaxasprovidedforinsections143.191to | |
| 3905 | - | 55 143.265andrelatedprovisions; | |
| 3906 | - | 56 (11)"Uninvestedcapital",theamountofanydistribution,otherthanof | |
| 3907 | - | 57 earnings,byaqualifiedfundmadewithinfiveyearsoftheissuanceofa | |
| 3908 | - | 58 certificateoftaxcreditasprovidedbysections348.300to348.318;orthe | |
| 3909 | - | 59 portionofallqualifiedcontributionstoaqualifiedfundwhicharenotinvested | |
| 3910 | - | 60 asqualifiedinvestmentswithinfiveyearsoftheissuanceofacertificateoftax | |
| 3911 | - | 61 creditasprovidedbysections348.300to348.318totheextentthattheamount | |
| 3912 | - | 62 notsoinvestedexceedstenpercentofallsuchqualifiedcontributions.] | |
| 3913 | - | [348.302.1.Anypersonwhomakesaqualifiedcontributiontoa | |
| 3914 | - | 2 qualifiedfundshallbeentitledtoreceiveataxcreditequaltofiftypercentof | |
| 3915 | - | 3 theamountofthequalifiedcontribution.Thetaxcreditshallbeevidencedby | |
| 3916 | - | 4 ataxcreditcertificateinaccordancewiththeprovisionsofsections348.300to | |
| 3917 | - | 5 348.318andmaybeusedtosatisfythestatetaxliabilityoftheownerofsuch | |
| 3918 | - | 6 certificatethatbecomesdueinthetaxyearinwhichthequalifiedcontribution | |
| 3919 | - | 7 ismade,orinanyofthetentaxyearsthereafter.Nopersonmayreceiveatax | |
| 3920 | - | 8 creditpursuanttosections348.300to348.318unlessthatpersonpresentsatax | |
| 3921 | - | 9 creditcertificatetothedepartmentofrevenueforpaymentofsuchstatetax | |
| 3922 | - | 10 liability. | |
| 3923 | - | 11 2.Theamountofsuchqualifiedcontributionswhichcanbemadeis | |
| 3924 | - | 12 limitedsothattheaggregateofalltaxcreditsauthorizedundertheprovisions | |
| 3925 | - | 13 ofsections348.300to348.318shallnotexceedninemilliondollars.Alltax | |
| 3926 | - | 14 creditsauthorizedundertheprovisionsofthissectionmaybetransferred,sold | |
| 3927 | - | 15 orassigned.] | |
| 3928 | - | [348.304.Thetotalamountofcreditevidencedbycertificatesoftax | |
| 3929 | - | 2 creditissuedtotaxpayersattherequestofanyonequalifiedeconomic | |
| 3930 | - | 3 developmentorganizationshallnotexceedtwomilliondollars;exceptthat, | |
| 3931 | - | 4 thistwo-million-dollarlimitationshallnotapplytocertificatesoftaxcredit | |
| 3932 | - | 5 issuedafterJanuary1,1996.PriortoJanuary1,1996,anyqualifiedeconomic | |
| 3933 | - | 6 developmentorganizationmayenterintoacontractualagreementwithany | |
| 3934 | - | 7 otherqualifiedeconomicdevelopmentorganizationtoallocatetothelatterany | |
| 3935 | - | 8 portionofthetwomilliondollarsoftaxcreditswhichitisauthorizedtoissue | |
| 3936 | - | 9 totaxpayersundertheprovisionsofthissection.Thecertificateoftaxcredit | |
| 3937 | - | HCSHB2319 100 10 maybeissuedinoneaggregatecertificateorinareasonablenumberof | |
| 3938 | - | 11 multiplecertificatesinregardtoonequalifiedcontribution.Anyissued | |
| 3939 | - | 12 certificatemaybesurrenderedinexchangefornewcertificatesnottoexceed | |
| 3940 | - | 13 invaluethevalueoftheissuedcertificate.Thenumberanddenominationof | |
| 3941 | - | 14 multiplecertificates,ifissued,shallbedeterminedbythedirectorofthe | |
| 3942 | - | 15 departmentofeconomicdevelopment.] | |
| 3943 | - | [348.306.Nopersonshallreceive,byissuance,transferorassignment, | |
| 3944 | - | 2 certificatesoftaxcreditissuedundertheprovisionsofsections348.300to | |
| 3945 | - | 3 348.318inanamountinexcessofonemilliondollars.Subjecttothe | |
| 3946 | - | 4 provisionsofthissection,certificatesoftaxcreditissuedinaccordancewith | |
| 3947 | - | 5 sections348.300to348.318maybetransferredorassignedbynotarized | |
| 3948 | - | 6 endorsementthereofwhichnamesthetransferee.] | |
| 3949 | - | [348.308.1.Thedirectorofthedepartmentofeconomicdevelopment | |
| 3950 | - | 2 shallberesponsiblefortheadministrationandissuanceofthecertificateoftax | |
| 3951 | - | 3 creditsauthorizedbysections348.300to348.318.Thedirectorofthe | |
| 3952 | - | 4 departmentofeconomicdevelopmentshallissueacertificateoftaxcreditat | |
| 3953 | - | 5 therequestofanyqualifiedeconomicdevelopmentorganization.Eachrequest | |
| 3954 | - | 6 shallincludeatruecopyofthedocumentscreatingthequalifiedfundandthe | |
| 3955 | - | 7 interestofthequalifiedeconomicdevelopmentorganizationinthequalified | |
| 3956 | - | 8 fund,thenameofthepersonwhoistoreceiveacertificateoftaxcredit,the | |
| 3957 | - | 9 typeofstatetaxliability,asspecifiedinsubdivision(10)ofsection348.300, | |
| 3958 | - | 10 againstwhichthetaxcreditistobeused,andtheamountofthecertificateof | |
| 3959 | - | 11 taxcredittobeissuedtothepersonmakingthequalifiedcontribution.Each | |
| 3960 | - | 12 requestshallbeacknowledgedunderoathbythepersonmakingthequalified | |
| 3961 | - | 13 contributionandthepresidentofthequalifiedeconomicdevelopment | |
| 3962 | - | 14 organization. | |
| 3963 | - | 15 2.Intheeventthattwoormorequalifiedeconomicdevelopment | |
| 3964 | - | 16 organizationshaveaninterestinaqualifiedfund,eitherorbothofsuch | |
| 3965 | - | 17 qualifiedeconomicdevelopmentorganizationsmayrequestissuanceof | |
| 3966 | - | 18 certificatesoftaxcreditinaccordancewiththeprovisionsofsections | |
| 3967 | - | 19 348.300to348.318topersonscontributingtoqualifiedfunds.] | |
| 3968 | - | [348.310.TheMissouridepartmentofrevenueshallaccepta | |
| 3969 | - | 2 certificateoftaxcreditinlieuofotherpaymentinsuchamountasisequal | |
| 3970 | - | 3 tothelesseroftheamountofthetaxortheremainingunusedamountofthe | |
| 3971 | - | 4 creditasindicatedonthecertificateoftaxcredit;andshallindicateonthe | |
| 3972 | - | 5 certificateoftaxcredittheamountoftaxtherebypaid,thedateofsuch | |
| 3973 | - | 6 payment,andtheremainderoftheunusedcreditavailabletothetaxpayerafter | |
| 3974 | - | 7 suchpayment.Thecertificateoftaxcreditshallbereturnedtothedirectorof | |
| 3975 | - | 8 thedepartmentofeconomicdevelopment.Thedirectorofthedepartmentof | |
| 3976 | - | 9 economicdevelopmentshallissueanewcertificatetotheproperownerfor | |
| 3977 | - | 10 anyunusedbalance.] | |
| 3978 | - | [348.312.Noprovisionofsections348.300to348.318shallbe | |
| 3979 | - | 2 construedtorequireaqualifiedeconomicdevelopmentorganizationtoaccept | |
| 3980 | - | 3 aninterestinanyfund,norshallanyprovisionofsections348.300to348.318 | |
| 3981 | - | HCSHB2319 101 4 beconstruedtolimitorrestrictthetermsandconditionsonwhichaqualified | |
| 3982 | - | 5 economicdevelopmentorganizationmayagreetoacceptaninterestinany | |
| 3983 | - | 6 fund.] | |
| 3984 | - | [348.316.1.Eachqualifiedfund,onorbeforetheduedateofits | |
| 3985 | - | 2 federalincometaxreturn,shallmakeareportforaperiodcorrespondingtothe | |
| 3986 | - | 3 qualifiedfund'sfederalincometaxyear.Thereportshallbemadeonaform | |
| 3987 | - | 4 requiredbythedepartmentofeconomicdevelopment.Itshallbeverifiedby | |
| 3988 | - | 5 theaffidavitofthefund'spresident,oranotherauthorizedofficer,tothe | |
| 3989 | - | 6 departmentofeconomicdevelopment.Itshallstatetheamountofall | |
| 3990 | - | 7 uninvestedcapital,whetherdistributionsofequityorfundsnotinvestedin | |
| 3991 | - | 8 qualifiedinvestments,anditshallcontainothersuchinformationasmaybe | |
| 3992 | - | 9 requiredbythedirectorofthedepartmentofeconomicdevelopment. | |
| 3993 | - | 10 2.Uponthereceiptofsuchreturns,thedirectorofthedepartmentof | |
| 3994 | - | 11 economicdevelopmentshallverifythesameandcertifytheamountoftaxdue | |
| 3995 | - | 12 fromthevariousfundstothedirectorofrevenuewithinsixtydaysfromthe | |
| 3996 | - | 13 dateofthereturn.Thedirectorofrevenueshallsendeachqualifiedfunda | |
| 3997 | - | 14 noticeoftaxduewithinthirtydaysofthedateofcertificationbythe | |
| 3998 | - | 15 departmentofeconomicdevelopment.Thequalifiedfundshallpaythetaxas | |
| 3999 | - | 16 providedinthenoticewithinthirtydaysofthedateofsuchnotice.] | |
| 4000 | - | [348.318.Exceptasotherwisespecificallyprovidedinsections | |
| 4001 | - | 2 348.300to348.318,interestandpenaltyprovisionsandproceduralmatters | |
| 4002 | - | 3 undertheprovisionsofsections348.300to348.318shallbedetermined | |
| 4003 | - | 4 pursuanttoandinthemannerprescribedinthefollowingsectionsofthe | |
| 4004 | - | 5 revisedstatutesofMissouri,thestateincometaxlaw,governingsimilar | |
| 4005 | - | 6 proceduresthereunder:sections143.271to143.301,143.511,143.551to | |
| 4006 | - | 7 143.571,143.611to143.751,143.771,143.791to143.861,143.881to | |
| 4007 | - | 8 143.971,and143.986.] | |
| 4008 | - | [620.635.Sections620.635to620.653shallbeknownandmaybe | |
| 4009 | - | 2 citedasthe"MissouriNewEnterpriseCreationAct".] | |
| 4010 | - | [620.638.Asusedinsections620.635to620.653,thefollowingterms | |
| 4011 | - | 2 mean: | |
| 4012 | - | 3 (1)"Committedcontributions",thetotalamountofqualified | |
| 4013 | - | 4 contributionsthatarecommittedtoaqualifyingfundbycontractual | |
| 4014 | - | 5 agreement; | |
| 4015 | - | 6 (2)"Corporation",theMissouritechnologycorporationasestablished | |
| 4016 | - | 7 pursuanttosection348.251; | |
| 4017 | - | 8 (3)"Department",thedepartmentofeconomicdevelopment; | |
| 4018 | - | 9 (4)"Director",thedirectorofthedepartmentofeconomic | |
| 4019 | - | 10 development; | |
| 4020 | - | 11 (5)"Follow-upcapital",capitalprovidedtoaqualifiedbusinessin | |
| 4021 | - | 12 whichaqualifiedfundhaspreviouslyinvestedseedcapitalorstart-upcapital. | |
| 4022 | - | 13 Nomorethanfortypercentofthequalifiedcontributionstoaqualifiedfund | |
| 4023 | - | 14 maybeusedforfollow-upcapital,andnoqualifiedcontributionswhich | |
| 4024 | - | HCSHB2319 102 15 generatetaxcreditsbeforethesecondroundofallocationsasauthorizedby | |
| 4025 | - | 16 section620.650shallbeusedforfollow-upcapitalinvestments; | |
| 4026 | - | 17 (6)"Person",anyindividual,corporation,partnership,limitedliability | |
| 4027 | - | 18 companyorotherentity,includinganycharitableorganizationwhichis | |
| 4028 | - | 19 exemptfromfederalincometaxandwhoseMissouriunrelatedbusiness | |
| 4029 | - | 20 taxableincome,ifany,wouldbesubjecttothestateincometaximposedunder | |
| 4030 | - | 21 chapter143; | |
| 4031 | - | 22 (7)"Positivecashflow",totalcashreceiptsfromsalesorservices,but | |
| 4032 | - | 23 notfrominvestmentsorloans,exceedingtotalcashexpendituresascalculated | |
| 4033 | - | 24 onafiscalyearbasis; | |
| 4034 | - | 25 (8)"Qualifiedbusiness",anyindependentlyownedandoperated | |
| 4035 | - | 26 businesswhichisheadquarteredandlocatedinMissouriandwhichisinvolved | |
| 4036 | - | 27 inorintendstobeinvolvedincommerceforthepurposeofmanufacturing, | |
| 4037 | - | 28 processingorassemblingproducts,conductingresearchanddevelopment,or | |
| 4038 | - | 29 providingservicesininterstatecommerce.Suchabusinessshallmaintainits | |
| 4039 | - | 30 headquartersinMissouriforaperiodofatleastthreeyearsfromthedateof | |
| 4040 | - | 31 receiptofaqualifiedinvestmentorbesubjecttopenaltiespursuanttosection | |
| 4041 | - | 32 620.017; | |
| 4042 | - | 33 (9)"Qualifiedcontribution",cashcontributionstoaqualifiedfund | |
| 4043 | - | 34 pursuanttothetermsofcontractualagreementsmadebetweenthequalified | |
| 4044 | - | 35 fundandaqualifiedeconomicdevelopmentorganizationauthorizedbythe | |
| 4045 | - | 36 corporationtoenterintosuchcontracts; | |
| 4046 | - | 37 (10)"Qualifiedeconomicdevelopmentorganization",anycorporation | |
| 4047 | - | 38 organizedpursuanttotheprovisionsofchapter355that,asofJanuary1,1991, | |
| 4048 | - | 39 hadobtainedacontractwiththedepartmenttooperateaninnovationcenterto | |
| 4049 | - | 40 promote,assistandcoordinatetheresearchanddevelopmentofnewservices, | |
| 4050 | - | 41 productsorprocessesinthisstate; | |
| 4051 | - | 42 (11)"Qualifiedfund",afundestablishedbyanycorporation, | |
| 4052 | - | 43 partnership,jointventure,unincorporatedassociation,trustorother | |
| 4053 | - | 44 organizationestablishedpursuanttothelawsofMissouriandapprovedby | |
| 4054 | - | 45 thecorporation; | |
| 4055 | - | 46 (12)"Qualifiedinvestment",anyinvestmentofseedcapital,start-up | |
| 4056 | - | 47 capitalorfollow-upcapitalinaqualifiedbusinessthatdoesnotcausemore | |
| 4057 | - | 48 thantenpercentofallthequalifiedcontributionstoaqualifiedfundtobe | |
| 4058 | - | 49 investedinasinglequalifiedbusiness; | |
| 4059 | - | 50 (13)"Seedcapital",capitalprovidedtoaqualifiedbusinessfor | |
| 4060 | - | 51 research,developmentandprecommercializationactivitiestoproveaconcept | |
| 4061 | - | 52 foranewproduct,processorservice,andforactivitiesrelatedthereto; | |
| 4062 | - | 53 providedthat,seedcapitalshallnotbeprovidedtoanybusinesswhichina | |
| 4063 | - | 54 pastfiscalyearhasexperiencedapositivecashflow; | |
| 4064 | - | 55 (14)"Start-upcapital",capitalprovidedtoaqualifiedbusinessforuse | |
| 4065 | - | 56 inpreproductionproductdevelopment,servicedevelopmentorinitial | |
| 4066 | - | 57 marketingthereof;providedthat,start-upcapitalshallnotbeprovidedto | |
| 4067 | - | 58 anybusinesswhichhasexperiencedapositivecashflowinapastfiscalyear; | |
| 4068 | - | 59 (15)"Uninvestedcapital",thatportionofanyqualifiedcontributionto | |
| 4069 | - | 60 aqualifiedfund,otherthanmanagementfeesnottoexceedthreepercentper | |
| 4070 | - | 61 yearofcommittedcontributions,qualifiedinvestmentsandotherexpensesor | |
| 4071 | - | HCSHB2319 103 62 feesauthorizedbythecorporation,thatisnotinvestedasaqualified | |
| 4072 | - | 63 investmentwithintenyearsofitsreceipt.] | |
| 4073 | - | [620.641.ThepowersanddutiesoftheMissouriseedcapital | |
| 4074 | - | 2 investmentboardshallbetransferredtotheMissouritechnologycorporation | |
| 4075 | - | 3 effectiveAugust28,2011,andtheMissouriseedcapitalinvestmentboard | |
| 4076 | - | 4 shallbedissolved.] | |
| 4077 | - | [620.644.1.TheMissouriseedcapitalandcommercialization | |
| 4078 | - | 2 strategyshallbejointlydevelopedandapprovedbytheboardsofdirectorsof | |
| 4079 | - | 3 allofthequalifiedeconomicdevelopmentorganizationsandsubmittedasone | |
| 4080 | - | 4 plantothecorporationforitsapproval.Theboardshallnotapproveany | |
| 4081 | - | 5 qualifiedfund,exclusiveofthefundapprovedbythecorporation,unlesssuch | |
| 4082 | - | 6 fundisdescribedintheMissouriseedcapitalandcommercializationstrategy. | |
| 4083 | - | 7 Thestrategyshallincludeaproposalfortheestablishmentandoperationof | |
| 4084 | - | 8 betweenoneandfourqualifiedfundsinMissouri,includingthefundapproved | |
| 4085 | - | 9 bythecorporationpursuanttotheprovisionsofsection620.653.Theinitial | |
| 4086 | - | 10 strategyshallbesubmittedtotheboardnolaterthanJuly1,2000,andshallbe | |
| 4087 | - | 11 approvedorrejectedbytheboardwithinthreemonthsofreceipt.Notax | |
| 4088 | - | 12 creditsauthorizedpursuanttotheprovisionsofsections620.635to620.653 | |
| 4089 | - | 13 shallbeawardeduntilsuchstrategyhasbeenapprovedbytheboard,other | |
| 4090 | - | 14 thantaxcreditsauthorizedforqualifiedcontributionstothefundapprovedby | |
| 4091 | - | 15 thecorporation. | |
| 4092 | - | 16 2.Thedepartmentshallauthorizetheuseofuptotwentymillion | |
| 4093 | - | 17 dollarsintaxcreditsbytheapprovedqualifiedfunds,inaggregatepursuantto | |
| 4094 | - | 18 theprovisionsofsection620.650,withnotmorethanfivemilliondollarsof | |
| 4095 | - | 19 taxcreditsbeingissuedinanyoneyear. | |
| 4096 | - | 20 3.Thecorporationshallapprovetheprofessionalmanagersemployed | |
| 4097 | - | 21 bythequalifiedfundsaccordingtocriteriasimilartothatusedbytheU.S. | |
| 4098 | - | 22 SmallBusinessAdministration'sSmallBusinessInvestmentCorporation | |
| 4099 | - | 23 Program. | |
| 4100 | - | 24 4.Thedepartmentmaypromulgateanyrulesandregulations | |
| 4101 | - | 25 necessarytoadministertheprovisionsofsections620.635to620.653.No | |
| 4102 | - | 26 ruleorregulationorportionofaruleorregulationpromulgatedpursuanttothe | |
| 4103 | - | 27 authorityofthissectionshallbecomeeffectiveunlessithasbeenpromulgated | |
| 4104 | - | 28 pursuanttotheprovisionsofchapter536. | |
| 4105 | - | 29 5.Thecorporationshallreportthefollowingtothedepartment: | |
| 4106 | - | 30 (1)Assoonaspracticableafterthereceiptofaqualifiedcontribution | |
| 4107 | - | 31 thenameofeachpersonfromwhichthequalifiedcontributionwasreceived, | |
| 4108 | - | 32 theamountofeachcontributor'squalifiedcontributionandthetaxcredits | |
| 4109 | - | 33 computedpursuanttothissection; | |
| 4110 | - | 34 (2)Onaquarterlybasis,theamountofqualifiedinvestmentsmadeto | |
| 4111 | - | 35 anyqualifiedbusiness; | |
| 4112 | - | 36 (3)Onaquarterlybasis,verificationthattheinvestmentofseed | |
| 4113 | - | 37 capital,start-upcapital,orfollow-upcapitalinaqualifiedbusinessdoesnot | |
| 4114 | - | 38 directmorethantenpercentofallthequalifiedcontributionstoaqualified | |
| 4115 | - | 39 fundtobeinvestedinasinglequalifyingbusiness. | |
| 4116 | - | HCSHB2319 104 40 6.Eachqualifiedfundshallprovideannualauditedfinancial | |
| 4117 | - | 41 statements,includingtheopinionofanindependentcertifiedpublic | |
| 4118 | - | 42 accountant,tothedepartmentwithinninetydaysofthecloseofthestate | |
| 4119 | - | 43 fiscalyear.Theauditshalladdressthemethodsofoperationandconductof | |
| 4120 | - | 44 thebusinessofthequalifiedeconomicdevelopmentorganizationtodetermine | |
| 4121 | - | 45 compliancewiththestatutesandprogramandprogramrulesandthatthe | |
| 4122 | - | 46 qualifiedcontributionsreceivedbythequalifiedfundhavebeeninvestedas | |
| 4123 | - | 47 requiredbythissection.] | |
| 4124 | - | [620.647.1.Thecorporationmayauthorizeeachqualifiedeconomic | |
| 4125 | - | 2 developmentorganizationtoenterintocontractualagreementswithany | |
| 4126 | - | 3 qualifiedfundallowingsuchqualifiedfundtooffertaxcreditsauthorized | |
| 4127 | - | 4 pursuanttotheprovisionsofsections620.635to620.653tothosepersons | |
| 4128 | - | 5 makingqualifiedcontributionstothequalifiedfund.Thecorporationshall | |
| 4129 | - | 6 establishpoliciesandproceduresrequiringeachauthorizedqualifiedeconomic | |
| 4130 | - | 7 developmentorganizationtosecurefromeachqualifiedfundanditsinvestors | |
| 4131 | - | 8 themaximumfundequityinterestpossible,asdictatedbymarketconditions, | |
| 4132 | - | 9 inexchangefortheuseofthetaxcredits.Alltaxcreditsauthorizedpursuant | |
| 4133 | - | 10 tosections620.635to620.653shallbeadministeredbythedepartment. | |
| 4134 | - | 11 2.Eachqualifiedfundshallenterintoacontractwithoneormore | |
| 4135 | - | 12 qualifiedeconomicdevelopmentorganizationswhichshallentitleallqualified | |
| 4136 | - | 13 economicdevelopmentorganizationsinexistenceatthattimetoreceiveand | |
| 4137 | - | 14 shareequallyalldistributionsofequityanddividendsorotherearningsofthe | |
| 4138 | - | 15 fundthataregeneratedasaresultofanyequityinterestsecuredasaresultof | |
| 4139 | - | 16 actionstakentocomplywithsubsection1ofthissection.Suchcontractsshall | |
| 4140 | - | 17 requirethequalifiedfundstotransfertothecorporationalldistributionsof | |
| 4141 | - | 18 dividendsorotherearningsofthefundthatareowedtoanyqualified | |
| 4142 | - | 19 economicdevelopmentorganizationthathasdissolvedorhasceaseddoing | |
| 4143 | - | 20 businessforaperiodofoneyearormore. | |
| 4144 | - | 21 3.Alldistributionsofdividends,earnings,equityorthelikeowed | |
| 4145 | - | 22 pursuanttotheprovisionsofsections620.635to620.653toaqualified | |
| 4146 | - | 23 economicdevelopmentorganizationbyanyqualifiedfundshallbepaidtothe | |
| 4147 | - | 24 qualifiedeconomicdevelopmentorganization.Thequalifiedeconomic | |
| 4148 | - | 25 developmentorganizationshallusesuchpaymentssolelyforreinvestmentin | |
| 4149 | - | 26 qualifiedfundsinordertoprovideongoingseedcapital,start-upcapitaland | |
| 4150 | - | 27 follow-upcapitalforMissouribusinesses.Noqualifiedeconomic | |
| 4151 | - | 28 developmentorganizationmaytransferanydividends,earnings,equityor | |
| 4152 | - | 29 thelikeoweditpursuanttosections620.635to620.653toanyotherpersonor | |
| 4153 | - | 30 entitywithouttheapprovalofthecorporation.] | |
| 4154 | - | [620.650.1.Thesolepurposeofeachqualifiedfundistomake | |
| 4155 | - | 2 investments.Onehundredpercentofinvestmentsmadefromqualified | |
| 4156 | - | 3 contributionsshallbequalifiedinvestments. | |
| 4157 | - | 4 2.Anypersonwhomakesaqualifiedcontributiontoaqualifiedfund | |
| 4158 | - | 5 shallreceiveataxcreditagainstthetaxotherwiseduepursuanttochapter143, | |
| 4159 | - | 6 chapter147,orchapter148,otherthantaxeswithheldpursuanttosections | |
| 4160 | - | 7 143.191to143.265,inanamountequaltoonehundredpercentofsuch | |
| 4161 | - | 8 person'squalifiedcontribution. | |
| 4162 | - | HCSHB2319 105 9 3.Suchpersonshallsubmittothedepartmentanapplicationforthe | |
| 4163 | - | 10 taxcreditonaformprovidedbythedepartment.Thedepartmentshallaward | |
| 4164 | - | 11 taxcreditsintheordertheapplicationsarereceivedandbaseduponthe | |
| 4165 | - | 12 strategyapprovedbythecorporation.Taxcreditsissuedpursuanttothis | |
| 4166 | - | 13 sectionmaybeclaimedforthetaxyearinwhichthequalifiedcontributionis | |
| 4167 | - | 14 madeorinanyofthefollowingtenyears,andmaybeassigned,transferredor | |
| 4168 | - | 15 sold. | |
| 4169 | - | 16 4.Thereisherebyimposedoneachqualifiedfundataxequalto | |
| 4170 | - | 17 fifteenpercentofthequalifiedfund'suninvestedcapitalatthecloseofsuch | |
| 4171 | - | 18 qualifiedfund'staxyear.Forpurposesoftaxcomputation,anydistribution | |
| 4172 | - | 19 madebyaqualifiedfundduringataxyearisdeemedmadeattheendofsuch | |
| 4173 | - | 20 taxyear.Eachtaxyear,everyqualifiedfundshallremitthetaximposedby | |
| 4174 | - | 21 thissectiontothedirectorofthedepartmentofrevenuefordepositinthestate | |
| 4175 | - | 22 treasurytothecreditofthegeneralrevenuefund.] | |
| 4176 | - | [620.653.Theprovisionsofsections620.635to620.650tothe | |
| 4177 | - | 2 contrarynotwithstanding,onequalifiedfundshallbeapprovedbythe | |
| 4178 | - | 3 corporationassoonaspracticableafterJuly8,1999.Suchfundneednotbe | |
| 4179 | - | 4 initiallyincorporatedintotheseedcapitalandcommercializationstrategyuntil | |
| 4180 | - | 5 aftertheappointmentoftheboard.Aftertheappointmentoftheboard,all | |
| 4181 | - | 6 powersexercisedbythecorporationinrelationtothatfundshallbetransferred | |
| 4182 | - | 7 totheboard.Afterthedissolutionoftheboard,allpowersexercisedbythe | |
| 4183 | - | 8 boardshallbetransferredtothecorporation.Thecorporationshallapprove | |
| 4184 | - | 9 theprofessionalfundmanageremployedbythequalifiedfundestablishedby | |
| 4185 | - | 10 thissection.] | |
| 4186 | - | [620.2600.1.Thissectionshallbeknownandmaybecitedasthe | |
| 4187 | - | 2 "InnovationCampusTaxCreditAct". | |
| 4188 | - | 3 2.Asusedinthissection,thefollowingtermsmean: | |
| 4189 | - | 4 (1)"Certificate",ataxcreditcertificateissuedunderthissection; | |
| 4190 | - | 5 (2)"Department",theMissouridepartmentofeconomicdevelopment; | |
| 4191 | - | 6 (3)"Eligibledonation",donationsreceivedfromataxpayerby | |
| 4192 | - | 7 innovationcampusesthataretobeusedsolelyforprojectsthatadvance | |
| 4193 | - | 8 learningintheareasofscience,technology,engineering,andmathematics. | |
| 4194 | - | 9 Eligibledonationsmayincludecash,publiclytradedstocksandbonds,and | |
| 4195 | - | 10 realestatethatshallandwillbevaluedanddocumentedaccordingtotherules | |
| 4196 | - | 11 promulgatedbythedepartmentofeconomicdevelopment; | |
| 4197 | - | 12 (4)"Innovationeducationcampus"or"innovationcampus",asdefined | |
| 4198 | - | 13 insection178.1100,aneducationalpartnershipconsistingofatleastoneof | |
| 4199 | - | 14 eachofthefollowingentities: | |
| 4200 | - | 15 (a)AlocalMissourihighschoolorK-12schooldistrict; | |
| 4201 | - | 16 (b)AMissourifour-yearpublicorprivatehighereducationinstitution; | |
| 4202 | - | 17 (c)AMissouri-basedbusinessorbusinesses;and | |
| 4203 | - | 18 (d)AMissouritwo-yearpublichighereducationinstitutionorstate | |
| 4204 | - | 19 technicalcollegeofMissouri; | |
| 4205 | - | 20 (5)"Taxpayer",anyofthefollowingindividualsorentitieswhomake | |
| 4206 | - | 21 aneligibledonationtoanyinnovationcampus: | |
| 4207 | - | HCSHB2319 106 22 (a)Aperson,firm,partnerinafirm,corporation,orashareholderin | |
| 4208 | - | 23 anScorporationdoingbusinessinthestateofMissouriandsubjecttothestate | |
| 4209 | - | 24 incometaximposedinchapter143; | |
| 4210 | - | 25 (b)Acorporationsubjecttotheannualcorporationfranchisetax | |
| 4211 | - | 26 imposedinchapter147; | |
| 4212 | - | 27 (c)Aninsurancecompanypayinganannualtaxonitsgrosspremium | |
| 4213 | - | 28 receiptsinthisstate; | |
| 4214 | - | 29 (d)AnyotherfinancialinstitutionpayingtaxestothestateofMissouri | |
| 4215 | - | 30 oranypoliticalsubdivisionsofthisstateunderchapter148; | |
| 4216 | - | 31 (e)Anindividualsubjecttothestateincometaximposedinchapter | |
| 4217 | - | 32 143; | |
| 4218 | - | 33 (f)Anycharitableorganizationwhichisexemptfromfederalincome | |
| 4219 | - | 34 taxandwhoseMissouriunrelatedbusinesstaxableincome,ifany,wouldbe | |
| 4220 | - | 35 subjecttothestateincometaximposedunderchapter143. | |
| 4221 | - | 36 3.ForalltaxableyearsbeginningonorafterJanuary1,2015,any | |
| 4222 | - | 37 taxpayershallbeallowedacreditagainstthetaxesotherwisedueunder | |
| 4223 | - | 38 chapters147,148,or143,excludingwithholdingtaximposedbysections | |
| 4224 | - | 39 143.191to143.265,inanamountequaltofiftypercentoftheamountofan | |
| 4225 | - | 40 eligibledonation,subjecttotherestrictionsinthissection.Theamountofthe | |
| 4226 | - | 41 taxcreditclaimedshallnotexceedtheamountofthetaxpayer'sstateincome | |
| 4227 | - | 42 taxliabilityinthetaxyearforwhichthecreditisclaimed.Anyamountof | |
| 4228 | - | 43 creditthatthetaxpayerisprohibitedbythissectionfromclaiminginataxyear | |
| 4229 | - | 44 shallnotberefundable,butmaybecarriedforwardtoanyofthetaxpayer's | |
| 4230 | - | 45 foursubsequenttaxableyears. | |
| 4231 | - | 46 4.Toclaimthecreditauthorizedinthissection,aninnovationcampus | |
| 4232 | - | 47 maysubmittothedepartmentanapplicationforthetaxcreditauthorizedby | |
| 4233 | - | 48 thissectiononbehalfoftaxpayers.Thedepartmentshallverifythatthe | |
| 4234 | - | 49 innovationcampushassubmittedthefollowingitems: | |
| 4235 | - | 50 (1)Avalidapplicationintheformandformatrequiredbythe | |
| 4236 | - | 51 department; | |
| 4237 | - | 52 (2)Astatementattestingtotheeligibledonationreceived,whichshall | |
| 4238 | - | 53 includethenameandtaxpayeridentificationnumberoftheindividualor | |
| 4239 | - | 54 taxpayermakingtheeligibledonation,theamountoftheeligibledonation,and | |
| 4240 | - | 55 thedatetheeligibledonationwasreceivedbytheinnovationcampus;and | |
| 4241 | - | 56 (3)Paymentfromtheinnovationcampusequaltothevalueofthetax | |
| 4242 | - | 57 creditforwhichapplicationismade. | |
| 4243 | - | 58 | |
| 4244 | - | 59 Iftheinnovationcampusapplyingforthetaxcreditmeetsallcriteriarequired | |
| 4245 | - | 60 bythissubsection,thedepartmentshallissueacertificateintheappropriate | |
| 4246 | - | 61 amount. | |
| 4247 | - | 62 5.Taxcreditsissuedunderthissectionmaybeassigned,transferred, | |
| 4248 | - | 63 sold,orotherwiseconveyed,andthenewownerofthetaxcreditshallhavethe | |
| 4249 | - | 64 samerightsinthecreditasthetaxpayer.Wheneveracertificateisassigned, | |
| 4250 | - | 65 transferred,sold,orotherwiseconveyed,anotarizedendorsementshallbe | |
| 4251 | - | 66 filedwiththedepartmentspecifyingthenameandaddressofthenewownerof | |
| 4252 | - | 67 thetaxcreditandthevalueofthecredit. | |
| 4253 | - | 68 6.Thedepartmentmaypromulgaterulestoimplementtheprovisions | |
| 4254 | - | 69 ofthissection.Anyruleorportionofarule,asthattermisdefinedinsection | |
| 4255 | - | HCSHB2319 107 70 536.010,thatiscreatedundertheauthoritydelegatedinthissectionshall | |
| 4256 | - | 71 becomeeffectiveonlyifitcomplieswithandissubjecttoalloftheprovisions | |
| 4257 | - | 72 ofchapter536and,ifapplicable,section536.028.Thissectionandchapter | |
| 4258 | - | 73 536arenonseverableandifanyofthepowersvestedwiththegeneral | |
| 4259 | - | 74 assemblyunderandpursuanttochapter536toreview,todelaytheeffective | |
| 4260 | - | 75 date,ortodisapproveandannularulearesubsequentlyheldunconstitutional, | |
| 4261 | - | 76 thenthegrantofrulemakingauthorityandanyruleproposedoradoptedafter | |
| 4262 | - | 77 August28,2014,shallbeinvalidandvoid. | |
| 4263 | - | 78 7.Undersection23.253oftheMissourisunsetact: | |
| 4264 | - | 79 (1)Theprogramauthorizedunderthissectionshallexpiresixyears | |
| 4265 | - | 80 afterAugust28,2014,unlessreauthorizedbyanactofthegeneralassembly; | |
| 4266 | - | 81 and | |
| 4267 | - | 82 (2)Ifsuchprogramisreauthorized,theprogramauthorizedunderthis | |
| 4268 | - | 83 sectionshallautomaticallysunsettwelveyearsafterAugust28,2014;and | |
| 4269 | - | 84 (3)ThissectionshallterminateonSeptemberfirstofthecalendaryear | |
| 4270 | - | 85 immediatelyfollowingthecalendaryearinwhichtheprogramauthorized | |
| 4271 | - | 86 underthissectionissunset.] | |
| 4272 | 2850 | âś” | |
| 4273 | - | ||
| 2851 | + | HB2319 79 |