HB1007--TAXCREDITS
SPONSOR: Owen
Thisbillmodifiesthestatusofcertainexistingtaxcredits.
Thebillremovescertaintaxcreditsthatarecurrently
administeredbytheDepartmentofRevenue(DOR),andplacingthose
taxcreditsinadifferentagency.Suchtaxcreditsinclude:
(1)SurvivingSpousesofPublicSafetyOfficersTaxCredit,moved
fromDORtotheDepartmentofPublicSafety,thistransferto
occuronAugust28,2025;
(2)AdoptionTaxCredit,movedfromDORtotheDepartmentofSocial
Services(DSS),thistransfertooccuronAugust28,2025;
(3)ChampionforChildrenTaxCredit,movedfromDORtoDSS,this
transfertooccuronAugust28,2025;
(4)ResidentialRenovationsforDisabilityTaxCredit,movedfrom
DORtoDepartmentofEconomicDevelopment(DED),thistransferto
occuronAugust28,2025;
(5)DonatedFoodTaxCredit,movedfromDORtoDSS,thistransfer
tooccuronAugust28,2025;
(6)HighEthanolBlendSellerTaxCredit,movedfromDORtothe
DepartmentofAgriculture(MDA),thistransfertooccuronAugust
28,2025;
(7)BiodieselBlendSellerTaxCredit,movedfromDORtoMDA,this
transfertooccuronAugust28,2025;and
(8)BiodieselBlendProducerTaxCredit,movedfromDORtoMDA,
thistransfertooccuronAugust28,2025.
ThebillalsoappliestheprovisionsoftheMissouriSunsetActto
thosetaxcreditsthatcurrentlylacksuchprovision,settingan
automaticsunsetonAugust28,2031.Suchtaxcreditsinclude:
(1)NeighborhoodAssistanceTaxCredit;
(2)MissouriDevelopmentFinanceBoardTaxCreditchangesthe
sunset;
(3)MissouriDevelopmentFinanceBoard(revenuebondsornotes)Tax
Credit; (4)BusinessUseIncentivesforLarge-ScaleDevelopmentTaxCredit;
(5)AdoptionTaxCredit;
(6)InvestmentsinMissouriSmallBusinessesTaxCredit;
(7)YouthOpportunitiesandViolencePreventionTaxCredit;
(8)Rehabilitation andConstructionofResidencesinDistressed
CommunitiesandCensusBlocksTaxCredit;
(9)ADAAccess,ExpendituresbySmallBusinessesTaxCredit;
(10)Community-BasedFacultyPreceptorTaxCredit;
(11)MissouriEmpowermentScholarshipAccountsProgramTaxCredit;
(12)ResidentialTreatmentAgencyTaxCredit;
(13)DevelopmentalDisabilityCareProviderTaxCredit;
(14)MissouriWorkingFamilyTaxCredit;
(15)SCorporationBanks,Associations,andCreditInstitutionsTax
Credit;
(16)SharedCareGiverTaxCredit;
(17)FamilyDevelopmentAccountTaxCredit;
(18)FamilyFarmBreedingTaxCredit;andthe
(19)BrownfieldRedevelopmentProgramTaxCredit.
Thebillalsoplacesamaximumcaponthosetaxcreditsthat
currentlylacksuchaprovision. Suchtaxcreditsinclude:
(1)SurvivingSpousesofPublicSafetyOfficersTaxCredit;
(2)NeworExpandedBusinessFacilityTaxCredit;
(3)ADAAccess,ExpendituresbySmallBusinessesTaxCredit;
(4)ResidentialTreatmentAgencyTaxCredit;
(5)DevelopmentalDisabilityCareProviderTaxCredit;
(6)Self-EmployedHealthInsuranceTaxCredit; (7)MissouriWorkingFamilyTaxCredit;
(8)SCorporationBanks,Associations,andCreditInstitutionsTax
Credit;
(9)SharedCareGiverTaxCredit;and
(10)BrownfieldRedevelopmentProgramTaxCredit.
Thebillrepealsfromstatutetaxcreditsthathavealready
expired,includingthefollowing:
(1)DistressedAreasLandAssemblageTaxCredit;
(2)CharcoalProducersTaxCredit;
(3)CertifiedCapitalCompanyTaxCredit;
(4)InvestingintheTransportation DevelopmentofaDistressed
CommunityTaxCredit;
(5)QualifiedBeefTaxCredit;
(6)QualifiedEquityInvestmentTaxCredit;
(7)Grape&WineProducersTaxCredit;
(8)AlternateFuelVehicleRefuelingPropertyandEVRecharging
PropertyTaxCredit;
(9)SmallBusinessGuarantyFeesTaxCredit;
(10)EnhancedEnterpriseZonesTaxCredit;
(11)UnmetHealth,Hunger,andHygieneNeedsofChildreninSchool;
(12)HigherEducationScholarshipProgramTaxCredit;
(13)DryFireHydrantTaxCredit;
(14)ContributionstoInnovationCentersTaxCredit;
(15)NewEnterpriseCreationTaxCredit;
(16)MissouriQualityJobActTaxCredit;and
(17)InnovationCampusTaxCredit. BeginningJanuary1,2026,thecreationofanynewtaxcreditor
increasingthecumulativecapofanexistingtaxcreditwill
requirethattheGeneralAssemblyrepeal,modify,orreducethe
totalamountofanexistingtaxcreditortaxcreditstoensure
thattheamountavailabletotaxpayersislessthanorequaltothe
totalamountreducedthatresultedfromthenewlycreatedtax
creditprogramorthatresultedfromtheincreasedcumulativecap
amountontheexistingtaxcreditprogram.
BeginningJanuary1,2026,alltaxcreditscannotbecarried
forwardbeyondthreeyears,ifcarryforwardprovisionsare
applicable.
BeginningfiscalyearJuly1,2026,alltaxcreditswillbesubject
toappropriation. Thefollowingtaxcreditswillbeexemptfrom
appropriation:
(1)Self-EmployedHealthInsuranceTaxCredit;
(2)SALTParityTaxCredit;
(3)SCorporationsBanks,Associations,andCreditInstitutionsTax
Credit;and
(4)BankingInstitutionTaxCredits.
ThisbillissimilartoHCSHB2319(2024).