MO
Missouri House Bill HB1007

Missouri 2025 Regular Session

Missouri House Bill HB1007 Compare Versions

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11 FIRSTREGULARSESSION
2-HOUSECOMMITTEESUBSTITUTENO.2FOR
2+HOUSECOMMITTEESUBSTITUTEFOR
33 HOUSEBILLNO.1007
44 103RDGENERALASSEMBLY
5-0763H.04C JOSEPHENGLER,ChiefClerk
5+0763H.03C JOSEPHENGLER,ChiefClerk
66 ANACT
77 Torepealsections32.125,99.1205,100.260,100.270,100.286,100.293,100.297,100.850,
8-135.090,135.110,135.313,135.326,135.339,135.341,135.352,135.432,135.460,
9-135.487,135.490,135.500,135.503,135.505,135.508,135.516,135.517,135.520,
10-135.523,135.526,135.529,135.530,135.535,135.545,135.546,135.562,135.647,
11-135.679,135.680,135.682,135.690,135.700,135.710,135.750,135.766,135.772,
8+135.090,135.110,135.313,135.326,135.339,135.341,135.432,135.460,135.487,
9+135.490,135.500,135.503,135.505,135.508,135.516,135.517,135.520,135.523,
10+135.526,135.529,135.530,135.535,135.545,135.546,135.562,135.647,135.679,
11+135.680,135.682,135.690,135.700,135.710,135.719,135.750,135.766,135.772,
1212 135.775,135.778,135.800,135.950,135.953,135.957,135.960,135.963,135.967,
1313 135.968,135.970,135.973,135.1125,135.1150,135.1180,137.123,143.119,
1414 143.177,143.436,143.471,148.030,148.330,148.350,173.196,190.465,
1515 192.2015,208.770,320.092,320.093,348.302,348.304,348.306,348.308,
1616 348.310,348.312,348.316,348.318,348.505,447.708,620.635,620.638,620.641,
1717 620.644,620.647,620.650,620.653,620.1875,620.1878,620.1881,620.1884,
1818 620.1887,620.1890,620.1910,620.2010,620.2020,and620.2600,RSMo,and
1919 section348.300asenactedbysenatebillno.7,ninety-sixthgeneralassembly,first
2020 extraordinarysession,andsection348.300asenactedbyhousebillno.1,ninety-
2121 fourthgeneralassembly,firstextraordinarysession,andtoenactinlieuthereofforty-
2222 sixnewsectionsrelatingtotaxcredits.
2323 BeitenactedbytheGeneralAssemblyofthestateofMissouri,asfollows:
2424 SectionA.Sections32.125,99.1205,100.260,100.270,100.286,100.293,100.297,
25-2100.850,135.090,135.110,135.313,135.326,135.339,135.341,135.352,135.432,135.460,
26-3135.487,135.490,135.500,135.503,135.505,135.508,135.516,135.517,135.520,135.523,
27-4135.526,135.529,135.530,135.535,135.545,135.546,135.562,135.647,135.679,135.680,
28-5135.682,135.690,135.700,135.710,135.750,135.766,135.772,135.775,135.778,135.800,
25+2100.850,135.090,135.110,135.313,135.326,135.339,135.341,135.432,135.460,135.487,
26+3135.490,135.500,135.503,135.505,135.508,135.516,135.517,135.520,135.523,135.526,
27+4135.529,135.530,135.535,135.545,135.546,135.562,135.647,135.679,135.680,135.682,
28+5135.690,135.700,135.710,135.719,135.750,135.766,135.772,135.775,135.778,135.800,
2929 6135.950,135.953,135.957,135.960,135.963,135.967,135.968,135.970,135.973,
3030 EXPLANATION—Matterenclosedinbold-facedbrackets[thus] intheabovebillisnotenactedandis
3131 intendedtobeomittedfromthelaw.Matterinbold-facetypeintheabovebillisproposedlanguage. 7135.1125,135.1150,135.1180,137.123,143.119,143.177,143.436,143.471,148.030,
3232 8148.330,148.350,173.196,190.465,192.2015,208.770,320.092,320.093,348.302,
3333 9348.304,348.306,348.308,348.310,348.312,348.316,348.318,348.505,447.708,
3434 10620.635,620.638,620.641,620.644,620.647,620.650,620.653,620.1875,620.1878,
3535 11620.1881,620.1884,620.1887,620.1890,620.1910,620.2010,620.2020,and620.2600,
3636 12RSMo,andsection348.300asenactedbysenatebillno.7,ninety-sixthgeneralassembly,
3737 13firstextraordinarysession,andsection348.300asenactedbyhousebillno.1,ninety-fourth
3838 14generalassembly,firstextraordinarysession,arerepealedandforty-sixnewsectionsenacted
3939 15inlieuthereof,tobeknownassections32.125,100.260,100.270,100.286,100.293,100.297,
40-16100.850,135.090,135.110,135.326,135.339,135.341,135.352,135.432,135.460,135.487,
41-17135.490,135.530,135.562,135.647,135.690,135.750,135.772,135.775,135.778,135.800,
40+16100.850,135.090,135.110,135.326,135.339,135.341,135.432,135.460,135.487,135.490,
41+17135.530,135.562,135.647,135.690,135.719,135.750,135.772,135.775,135.778,135.800,
4242 18135.835,135.1150,135.1180,137.123,143.119,143.177,143.436,143.471,148.030,
4343 19148.330,148.350,190.465,192.2015,208.770,320.092,348.505,447.708,620.1910,
4444 20620.2010,and620.2020,toreadasfollows:
4545 32.125.1.Noruleorportionofarulepromulgatedundertheauthorityofthischapter
4646 2shallbecomeeffectiveunlessithasbeenpromulgatedpursuanttotheprovisionsofsection
4747 3536.024.
4848 4 2.Undersection23.253oftheMissourisunsetact:
4949 5 (1)Theprovisionsoftheprogramsauthorizedundersections32.100to32.125
5050 6shallautomaticallysunsetonAugust28,2031,unlessreauthorizedbyanactofthe
5151 7generalassembly;
5252 8 (2)Ifsuchprogramsarereauthorized,theprogramsauthorizedundersections
5353 932.100to32.125shallautomaticallysunsetsixyearsaftertheeffectivedateofthe
5454 10reauthorizationofsections32.100to32.125;
5555 11 (3)Sections32.100to32.125shallterminateonSeptemberfirstofthecalendar
5656 12yearimmediatelyfollowingthecalendaryearinwhichtheprogramsauthorizedunder
5757 13sections32.100to32.125aresunset;and
5858 14 (4)Theprovisionsofthissubsectionshallnotbeconstruedtolimitorinanyway
5959 15impairataxpayer'sabilitytoredeemtaxcreditsauthorizedonorbeforethedatethe
6060 16programauthorizedunderthissectionexpires.
6161 100.260.1.Thereareherebycreatedfourspecialfunds,tobeknownasthe
6262 2"IndustrialDevelopmentandReserveFund",the"IndustrialDevelopmentGuaranteeFund",
6363 3the"ExportFinanceFund",andthe"JobsNowFund",intowhichthefollowingmaybe
6464 4depositedasandwhenreceivedanddesignatedfordepositinoneofsuchfunds:
6565 5 (1)Anymoneysappropriatedbythegeneralassemblyforusebytheboardin
6666 6carryingoutthepowerssetforthinsections100.250to100.297;
67-HCS#2HB1007 2 7 (2)Anymoneysmadeavailablethroughtheissuanceofrevenuebondsunderthe
67+HCSHB1007 2 7 (2)Anymoneysmadeavailablethroughtheissuanceofrevenuebondsunderthe
6868 8provisionsofsections100.250to[100.295] 100.297;
6969 9 (3)Anymoneysreceivedfromgrantsorwhicharegiven,donated,orcontributedto
7070 10thefundfromanysource;
7171 11 (4)Anymoneysreceivedinrepaymentofloansorfromapplicationfees,reserve
7272 12participationfees,guaranteefeesandpremiumpaymentsasprovidedforundersections
7373 13100.250to100.297;
7474 14 (5)Anymoneysreceivedasinterestondepositsorasincomeonapproved
7575 15investmentsofthefund;
7676 16 (6)Anymoneysobtainedfromtheissuanceofrevenuebondsornotesbytheboard;
7777 17 (7)Anymoneysthatwereintheindustrialdevelopmentfundauthorizedbythis
7878 18section,theeconomicdevelopmentreserveauthorizedbysection620.215,ortheindustrial
7979 19revenuebondguaranteefundauthorizedbysection620.240,respectively,asofSeptember28,
8080 201985;and
8181 21 (8)Anymoneysobtainedfromanyotheravailablesource.
8282 22 2.Thedevelopmentandreservefund,theguaranteefund,thejobsnowfund,andthe
8383 23exportfinancefundshallbeadministeredbytheboardasprovidedinsections100.250to
8484 24100.297.Separateaccountsmaybecreatedwithinthedevelopmentandreservefundandthe
8585 25guaranteefundformoneysspecificallyappropriated,donatedorotherwisereceivedfor
8686 26industrialdevelopmentpurposes.Theboardmayalsocreatesuchotherseparateaccounts
8787 27withinanyofsuchfundsasdeemednecessaryorappropriatebytheboardtocarryoutthe
8888 28dutiesandpurposesofsections100.250to100.297.Allsuchseparateaccountsmaybe
8989 29administeredbyacorporatetrusteeonbehalfoftheboarduponthetermsandconditions
9090 30establishedbytheboard.
9191 31 3.Moneysinthejobsnowfund,thedevelopmentandreservefund,theguarantee
9292 32fund,andtheexportfinancefundshallbeinvestedbytheboardinthemannerprescribedby
9393 33theboardandanyinterestearnedoninvestedmoneysshallaccruetothebenefitofthe
9494 34respectivefund.
9595 35 4.Noneofthefundsandaccountsoftheboardshallbeconsideredastatefund,and
9696 36moneydepositedthereinmaynotbeappropriatedtherefrom,norshallanymoneydeposited
9797 37thereinbesubjecttotheprovisionsofsection33.080.
9898 38 5.Thecommissionerofadministrationshallannuallycalculatetheincreasedamount
9999 39ofrevenuetothestatetreasuryduetotheprovisionsofsections135.155,and135.286,
100100 40[135.546,andsubsection7ofsection620.1039,] asenactedormodifiedbythisactandshall
101101 41allocateuptotwelvemilliondollarsofsuchrevenuetothejobsnowfund.
102102 100.270.Theboardshallhavethepowerto:
103103 2 (1)Sueandbesuedinitsofficialname;
104-HCS#2HB1007 3 3 (2)Adoptanduseanofficialseal;
104+HCSHB1007 3 3 (2)Adoptanduseanofficialseal;
105105 4 (3)Conferwithagenciesofthestateanddevelopmentagencies,andwith
106106 5representativesofbusiness,industry,andlaborforthepurposeofpromotingtheeconomic
107107 6developmentofthisstate;
108108 7 (4)Considerandreviewapplicationsforloanstobemadefromthedevelopmentand
109109 8reservefundorforloans,bondsornotestobemadebyorsecuredbythedevelopmentand
110110 9reservefund,theguaranteefund,theexportfinancefundortheinfrastructuredevelopment
111111 10fundoranyotheravailablemoney,undersections100.250to100.297,andforgrantsorloans
112112 11tobemadebyorsecuredbythejobsnowfund;
113113 12 (5)Enterintoagreementswithdevelopmentagencies,borrowers,participating
114114 13lendersandotherstoimplementanyoftheprovisionsofsections100.250to100.297;
115115 14 (6)Directdisbursementsfromthedevelopmentandreservefund,theguaranteefund,
116116 15theexportfinancefund,theinfrastructuredevelopmentfund,andthejobsnowfundas
117117 16providedinsections100.250to100.297;
118118 17 (7)Administerthedevelopmentandreservefund,theguaranteefund,theexport
119119 18financefund,theinfrastructuredevelopmentfund,andthejobsnowfundandinvestany
120120 19portionofsuchfundsnotrequiredforimmediatedisbursementinobligationsoftheUnited
121121 20States,oranyagencyorinstrumentalityoftheUnitedStates,inobligationsofthestateof
122122 21Missourianditspoliticalsubdivisions,incertificatesofdepositandtimedepositsorother
123123 22obligationsofbanksandsavingsandloanassociationsorinsuchotherobligationsasmaybe
124124 23prescribedbytheboard;
125125 24 (8)Applyforandacceptgifts,grants,appropriations,loansorcontributionstothe
126126 25developmentandreservefund,theguaranteefund,theexportfinancefund,theinfrastructure
127127 26developmentfund,andthejobsnowfundfromanysource,publicorprivate,andenterinto
128128 27contractsorothertransactionswithanyfederalorstateagency,anydevelopmentagency,
129129 28privateorganization,oranyothersourceinfurtheranceofthepurposesofsections100.250to
130130 29100.297,anddoanyandallthingsnecessaryinordertoavailitselfofsuchaidand
131131 30cooperation;
132132 31 (9)Issue,fromtimetotime,itsnegotiablerevenuebondsornotesinsuchprincipal
133133 32amountsas,initsopinion,shallbenecessarytoprovidesufficientfundsforachievingits
134134 33purposes;
135135 34 (10)Establishreservestosecurebonds,notesandloansissuedormadebytheboard,
136136 35developmentagenciesorparticipatinglenders;
137137 36 (11)Make,purchase,orparticipateinthemakingorpurchase,ofloans,bonds,or
138138 37notestofinancethecostsofprojects;
139-HCS#2HB1007 4 38 (12)Procureinsurance,lettersofcredit,orotherformofcreditenhancement,to
139+HCSHB1007 4 38 (12)Procureinsurance,lettersofcredit,orotherformofcreditenhancement,to
140140 39securethepaymentofprincipalandinterestonanyloans,bondsornotesorotherobligations
141141 40oftheboard;
142142 41 (13)Purchase,receive,takebygrant,gift,devise,bequestorotherwise,lease,or
143143 42otherwiseacquire,own,hold,improve,employ,useandotherwisedealinandwith,realor
144144 43personalproperty,oranyinteresttherein,whereversituated;
145145 44 (14)Sell,convey,lease,exchange,transferorotherwisedisposeof,alloranyofits
146146 45property,oranyinteresttherein,whereversituated;
147147 46 (15)Conducthearingsandothermethodsofexamination,andauthorizeanyofits
148148 47memberstodoso,onanymattermaterialforitsinformationandnecessarytotheexerciseof
149149 48thedutiesoftheboard;
150150 49 (16)Employandfixthecompensationofanexecutivedirectorandsuchotheragents
151151 50oremployeesasitconsidersnecessary;
152152 51 (17)Adopt,alter,orrepealitsownbylaws,rules,andregulationsgoverningthe
153153 52mannerinwhichitsbusinessmaybetransacted;
154154 53 (18)Assessorchargeafeeforeachapplicationitreceivesforfundingforaprojector
155155 54ajobsnowprojectandassessorchargeotherfeesastheboarddeterminestobereasonableto
156156 55carryoutitspurposes,including,butnotlimitedto,feesorpremiumsforloansmadefromthe
157157 56developmentandreservefundandtheexportfinancefundandforloans,bondsornotes
158158 57securedbythedevelopmentandreservefund,theguaranteefund,theexportfinancefundor
159159 58theinfrastructuredevelopmentfundorthejobsnowfund;
160160 59 (19)Makeallexpenditureswhichareincidentandnecessarytocarryoutitspurposes
161161 60andpowers;
162162 61 (20)Takesuchaction,enterintosuchagreementsandexerciseallotherpowersand
163163 62functionsnecessaryorappropriatetocarryoutthedutiesandpurposessetforthinsections
164164 63100.250to100.297;
165165 64 (21)Insure,coinsure,guaranteeloansandmakeloansrelatingtoqualifiedexport
166166 65transactionsandadoptcriteria,bymeansofrulesandregulations,establishingwhich
167167 66exportersshallbeeligiblefortheinsurance,coinsurance,loanguaranteesandloanswhich
168168 67maybeextendedbytheboard;
169169 68 (22)DoallthingsnecessarytoensurefullparticipationbythestateofMissouriinany
170170 69federalprogramwhichmayrelatetotheconstruction,repair,replacementorfurther
171171 70developmentoftheinfrastructureofthestateanditspoliticalsubdivisions;
172172 71 (23)Receivefundsfromthefederalgovernmentfordepositintotheinfrastructure
173173 72developmentfundorthejobsnowfundandauthorizedisbursementstherefrom.Theboard
174174 73mayenterintoagreementswithagenciesofthefederalgovernmentandmay,onbehalfofthe
175175 74stateofMissouri,doallthingsnecessarytoensurefullparticipationbythestateofMissouri
176-HCS#2HB1007 5 75inanyfederalprogramwhichmayrelatetotherepair,replacementorfurtherdevelopmentof
176+HCSHB1007 5 75inanyfederalprogramwhichmayrelatetotherepair,replacementorfurtherdevelopmentof
177177 76theinfrastructureofthestateanditspoliticalsubdivisions;
178178 77 (24)Setguidelinesandprioritiesforloans,loanguaranteesorgrantsfromthe
179179 78infrastructuredevelopmentfund.Theboardisthesolestateagencyauthorizedtosetsuch
180180 79guidelinesandprioritieswithrespecttotheinfrastructuredevelopmentfundonbehalfofthe
181181 80stateoranyofitspoliticalsubdivisions,andloans,loanguarantees,orgrantsshallonlybe
182182 81madeuponapprovaloftheboard;
183183 82 (25)Makeequityinvestmentsinorotherwiseacquireownershipinterestsin:for-
184184 83profitandnot-for-profitfederal-orstate-authorizedcommunitydevelopmentcorporations;
185185 84smallbusinessinvestmentcompanies,includingminorityorspecializedsmallbusiness
186186 85investmentcompanies;andmicroloancorporationsandsimilarlendinginstitutions,when
187187 86suchinvestmentsaredeemedtoenhancethebenefitofthepublic;
188188 87 (26)MakeinvestmentsinMissouricertifiedcapitalcompanies,asdefined[by]under
189189 88thissubdivision[(5)ofsubsection2ofsection135.500], orotherinvestmentcompaniesfor
190190 89investmentinqualifiedMissouribusinesses,asdefined[by]underthissubdivision[(14)of
191191 90subsection2ofsection135.500]. Allinvestmentsmadebytheboardfortheeventual
192192 91investmentinqualifiedMissouribusinessesshallbematchedbyanequivalentinvestment
193193 92madebythecertifiedcapitalcompanyorotherinvestmentfirmforinvestmentintoqualified
194194 93Missouribusinesses.AllinvestmentsmadeintoMissouriqualifiedbusinessesunderthe
195195 94provisionsofthissubdivisionshallbeintheformofequityorunsecureddebtfinancing.No
196196 95investmentshallbemadebytheboardundertheprovisionsofthissubdivisionwithoutthe
197197 96approvalofthedirectorofthedepartmentofeconomicdevelopment. Forthepurposesof
198198 97thissubdivisionthefollowingtermsmean:
199199 98 (a)"Certifiedcapitalcompany",anypartnership,corporation,trust,orlimited
200200 99liabilitycompany,whetherorganizedonaprofitornot-for-profitbasis,thatislocated,
201201 100headquartered,andregisteredtoconductbusinessinMissouriandhasasitsprimary
202202 101businessactivitytheinvestmentofcashinqualifiedMissouribusinesses;
203203 102 (b)"QualifiedMissouribusiness",anindependentlyownedandoperated
204204 103businessthatisheadquarteredandlocatedinMissouriandisinneedofventurecapital
205205 104andcannotobtainconventionalfinancing.Suchbusinessshallhavenomorethantwo
206206 105hundredemployees,atleasteightypercentofwhomareemployedinMissouri.Such
207207 106businessshallbeinvolvedincommerceforthepurposeofmanufacturing,processingor
208208 107assemblingproducts,conductingresearchanddevelopment,orprovidingservicesin
209209 108interstatecommerce,butexcludingretail,realestate,realestatedevelopment,
210210 109insurance,andprofessionalservicesprovidedbyaccountants,lawyers,orphysicians.
211211 110Atthetimeacertifiedcapitalcompanyorqualifiedinvestingentitymakesaninitial
212212 111investmentinabusiness,suchbusinessshallbeasmallbusinessconcernthatmeetsthe
213-HCS#2HB1007 6 112requirementsoftheUnitedStatesSmallBusinessAdministration'squalificationsize
213+HCSHB1007 6 112requirementsoftheUnitedStatesSmallBusinessAdministration'squalificationsize
214214 113standardsforitsventurecapitalprogram,asdefinedinSection13CFR121.301(c)of
215215 114theSmallBusinessInvestmentActof1958,asamended.Anybusinessthatisclassified
216216 115asaqualifiedMissouribusinessatthetimeofthefirstinvestmentinsuchbusinessbya
217217 116Missouricertifiedcapitalcompanyorqualifiedinvestingentityshall,foraperiodof
218218 117sevenyearsfromthedateofsuchfirstinvestment,remainclassifiedasaqualified
219219 118Missouribusinessandmayreceivefollow-oninvestmentsfromanyMissouricertified
220220 119capitalcompanyorqualifiedinvestingentityandsuchfollow-oninvestmentsshallbe
221221 120qualifiedinvestmentsregardlessofwhethersuchbusinessmeetstheotherqualifications
222222 121ofthissubsectionatthetimeofsuchfollow-oninvestments; and
223223 122 (27)Makeloansandgrantsfromthejobsnowfundinaccordancewiththeprovisions
224224 123ofsection100.293.
225225 100.286.1.Withinthediscretionoftheboard,thedevelopmentandreservefund,the
226226 2infrastructuredevelopmentfundortheexportfinancefundmaybepledgedtosecurethe
227227 3paymentofanybondsornotesissuedbytheboard,ortosecurethepaymentofanyloanmade
228228 4bytheboardoraparticipatinglenderwhichloan:
229229 5 (1)Isrequestedtofinanceanyprojectorexporttradeactivity;
230230 6 (2)Isrequestedbyaborrowerwhoisdemonstratedtobefinanciallyresponsible;
231231 7 (3)Canreasonablybeexpectedtoprovideabenefittotheeconomyofthisstate;
232232 8 (4)Isotherwisesecuredbyamortgageordeedoftrustonrealorpersonalpropertyor
233233 9othersecuritysatisfactorytotheboard;providedthatloanstofinanceexporttradeactivities
234234 10maybesecuredbyexportaccountsreceivableorinventoriesofexportablegoodssatisfactory
235235 11totheboard;
236236 12 (5)Doesnotexceedfivemilliondollars;
237237 13 (6)Doesnothaveatermlongerthanfiveyearsifsuchloanismadetofinanceexport
238238 14tradeactivities;and
239239 15 (7)Is,whenusedtofinanceexporttradeactivities,madetosmallormediumsize
240240 16businessesoragriculturalbusinesses,asmaybedefinedbytheboard.
241241 17 2.Theboardshallprescribestandardsfortheevaluationofthefinancialcondition,
242242 18businesshistory,andqualificationsofeachborrowerandthetermsandconditionsofloans
243243 19whichmaybesecured,andmayrequireeachapplicationtoincludeafinancialreportand
244244 20evaluationbyanindependentcertifiedpublicaccountingfirm,inadditiontosuch
245245 21examinationandevaluationasmaybeconductedbyanyparticipatinglender.
246246 22 3.Eachapplicationforaloansecuredbythedevelopmentandreservefund,the
247247 23infrastructuredevelopmentfundortheexportfinancefundshallbereviewedinthefirst
248248 24instancebyanyparticipatinglendertowhomtheapplicationwassubmitted.Ifsatisfiedthat
249249 25thestandardsprescribedbytheboardaremetandthattheloanisotherwiseeligibletobe
250-HCS#2HB1007 7 26securedbythedevelopmentandreservefund,theinfrastructuredevelopmentfundorthe
250+HCSHB1007 7 26securedbythedevelopmentandreservefund,theinfrastructuredevelopmentfundorthe
251251 27exportfinancefund,theparticipatinglendershallcertifythesameandforwardtheapplication
252252 28forfinalapprovaltotheboard.
253253 29 4.Thesecuringofanyloansbythedevelopmentandreservefund,theinfrastructure
254254 30developmentfundortheexportfinancefundshallbeconditioneduponapprovalofthe
255255 31applicationbytheboard,andreceiptofanannualreserveparticipationfee,asprescribedby
256256 32theboard,submittedbyoronbehalfoftheborrower.
257257 33 5.Thesecuringofanyloanbytheexportfinancefundforexporttradeactivitiesshall
258258 34beconditionedupontheboard'scompliancewithanyapplicabletreatiesandinternational
259259 35agreements,suchasthegeneralagreementontariffsandtradeandthesubsidiescode,to
260260 36whichtheUnitedStatesisthenaparty.
261261 37 6.Anytaxpayer,includinganycharitableorganizationthatisexemptfromfederal
262262 38incometaxandwhoseMissouriunrelatedbusinesstaxableincome,ifany,wouldbesubjectto
263263 39thestateincometaximposedunderchapter143,may,subjecttothelimitationsprovided
264264 40undersubsection8ofthissection,receiveataxcreditagainstanytaxotherwisedueunderthe
265265 41provisionsofchapter143,excludingwithholdingtaximposedbysections143.191to
266266 42143.261,chapter147,orchapter148,intheamountoffiftypercentofanyamount
267267 43contributedinmoneyorpropertybythetaxpayertothedevelopmentandreservefund,the
268268 44infrastructuredevelopmentfundortheexportfinancefundduringthetaxpayer'staxyear,
269269 45provided,however,thetotaltaxcreditsawardedinanycalendaryearbeginningafterJanuary
270270 461,1994,shallnotbethegreateroftenmilliondollarsorfivepercentoftheaveragegrowthin
271271 47generalrevenuereceiptsintheprecedingthreefiscalyears.Thislimitmaybeexceededonly
272272 48uponjointagreementbythecommissionerofadministration,thedirectorofthedepartmentof
273273 49economicdevelopment,andthedirectorofthedepartmentofrevenuethatsuchactionis
274274 50essentialtoensureretentionorattractionofinvestmentinMissouri.Iftheboardreceives,asa
275275 51contribution,realproperty,thecontributoratsuchcontributor'sownexpenseshallhavetwo
276276 52independentappraisalsconductedbyappraiserscertifiedbytheMasterAppraisalInstitute.
277277 53Bothappraisalsshallbesubmittedtotheboard,andthetaxcreditcertifiedbytheboardtothe
278278 54contributorshallbebaseduponthevalueofthelowerofthetwoappraisals.Theboardshall
279279 55notcertifythetaxcredituntilthepropertyisdeededtotheboard.Suchcreditshallnotapply
280280 56toreserveparticipationfeespaidbyborrowersundersections100.250to100.297.The
281281 57portionofearnedtaxcreditswhichexceedsthetaxpayer'staxliabilitymaybecarriedforward
282282 58foruptofiveyears.
283283 59 7.Notwithstandinganyprovisionoflawtothecontrary,anytaxpayermaysell,
284284 60assign,exchange,conveyorotherwisetransfertaxcreditsallowedinsubsection6ofthis
285285 61sectionunderthetermsandconditionsprescribedinsubdivisions(1)and(2)ofthis
286-HCS#2HB1007 8 62subsection.Suchtaxpayer,hereinaftertheassignorforthepurposeofthissubsection,may
286+HCSHB1007 8 62subsection.Suchtaxpayer,hereinaftertheassignorforthepurposeofthissubsection,may
287287 63sell,assign,exchangeorotherwisetransferearnedtaxcredits:
288288 64 (1)Fornolessthanseventy-fivepercentoftheparvalueofsuchcredits;and
289289 65 (2)Inanamountnottoexceedonehundredpercentofannualearnedcredits.
290290 66
291291 67Thetaxpayeracquiringearnedcredits,hereinaftertheassigneeforthepurposeofthis
292292 68subsection,mayusetheacquiredcreditstooffsetuptoonehundredpercentofthetax
293293 69liabilitiesotherwiseimposedbychapter143,excludingwithholdingtaximposedbysections
294294 70143.191to143.261,chapter147,orchapter148.Unusedcreditsinthehandsoftheassignee
295295 71maybecarriedforwardforuptofiveyears,providedallsuchcreditsshallbeclaimedwithin
296296 72tenyearsfollowingthetaxyearsinwhichthecontributionwasmade.Theassignorshall
297297 73enterintoawrittenagreementwiththeassigneeestablishingthetermsandconditionsofthe
298298 74agreementandshallperfectsuchtransferbynotifyingtheboardinwritingwithinthirty
299299 75calendardaysfollowingtheeffectivedayofthetransferandshallprovideanyinformationas
300300 76mayberequiredbytheboardtoadministerandcarryouttheprovisionsofthissection.
301301 77Notwithstandinganyotherprovisionoflawtothecontrary,theamountreceivedbythe
302302 78assignorofsuchtaxcreditshallbetaxableasincomeoftheassignor,andtheexcessofthepar
303303 79valueofsuchcreditovertheamountpaidbytheassigneeforsuchcreditshallbetaxableas
304304 80incomeoftheassignee.
305305 81 8.Provisionsofsubsections1to7ofthissectiontothecontrarynotwithstanding,no
306306 82morethantenmilliondollarsintaxcreditsprovidedunderthissection,maybeauthorizedor
307307 83approvedannually.Thelimitationontaxcreditauthorizationandapprovalprovidedunder
308308 84thissubsectionmaybeexceededonlyuponmutualagreement,evidencedbyasignedand
309309 85properlynotarizedletter,bythecommissioneroftheofficeofadministration,thedirectorof
310310 86thedepartmentofeconomicdevelopment,andthedirectorofthedepartmentofrevenuethat
311311 87suchactionisessentialtoensureretentionorattractionofinvestmentinMissouriprovided,
312312 88however,thatinnocaseshallmorethantwenty-fivemilliondollarsintaxcreditsbe
313313 89authorizedorapprovedduringsuchyear.Taxpayersshallfile,withtheboard,anapplication
314314 90fortaxcreditsauthorizedunderthissectiononaformprovidedbytheboard.Theprovisions
315315 91ofthissubsectionshallnotbeconstruedtolimitorinanywayimpairtheabilityoftheboard
316316 92toauthorizetaxcreditsforissuanceforprojectsauthorizedorapproved,byavoteofthe
317317 93board,onorbeforethethirtiethdayfollowingtheeffectivedateofthisact,orataxpayer's
318318 94abilitytoredeemsuchtaxcredits.
319319 95 9.Undersection23.253oftheMissourisunsetact:
320320 96 (1)Thetaxcreditprovisionsoftheprogramauthorizedunderthissectionshall
321321 97automaticallysunsetonAugust28,2031,unlessreauthorizedbyanactofthegeneral
322322 98assembly;
323-HCS#2HB1007 9 99 (2)Ifsuchtaxcreditprovisionsarereauthorized,thetaxcreditprovisions
323+HCSHB1007 9 99 (2)Ifsuchtaxcreditprovisionsarereauthorized,thetaxcreditprovisions
324324 100authorizedunderthissectionshallautomaticallysunsetsixyearsaftertheeffectivedate
325325 101ofthereauthorizationofthissection;
326326 102 (3)Thetaxcreditprovisionsoftheprogramauthorizedunderthissectionshall
327327 103terminateonSeptemberfirstofthecalendaryearimmediatelyfollowingthecalendar
328328 104yearinwhichtheprogramauthorizedunderthissectionissunset;and
329329 105 (4)Theprovisionsofthissubsectionshallnotbeconstruedtolimitorinanyway
330330 106impairataxpayer'sabilitytoredeemtaxcreditsauthorizedonorbeforethedatethe
331331 107programauthorizedunderthissectionexpires.
332332 100.293.1.Thissection[,] andsection100.277[, andsections135.950to135.973]
333333 2shallbeknownandmaybecitedasthe"JobsNowAct".
334334 3 2.Thereshallbecreateda"JobsNowRecommendationCommittee",comprisedof
335335 4representativesofthedepartmentofeconomicdevelopment,thedepartmentofagriculture,
336336 5thedepartmentofnaturalresources,andthedepartmentoftransportation.Thecommittee
337337 6shallestablishapplicationmaterialsandproceduresfordevelopmentagenciestoapplytothe
338338 7boardforgrantsorlow-interestorinterest-freeloansforthepurposeoffundingjobsnow
339339 8projects.
340340 9 3.Applicationsshallbesubmittedsimultaneouslytothecommitteeandtheboard.
341341 10Thecommitteeshallreviewtheapplicationsandprepareandsubmitanalysesand
342342 11recommendationstotheboardforadeterminationastoapprovalordenialofgrantsor
343343 12loansfromthejobsnowfund.
344344 13 4.Inreviewingapplications,theboardshallgivepreferencetoredevelopment
345345 14projectsthatprotectnaturalresourcesorrehabilitateexistingdilapidatedorinadequate
346346 15infrastructureinareasdefinedundersection135.530.
347347 16 5.Afterreviewingapplicationsandsuchotherinformationastheboardmayrequire,
348348 17theboardmaygrantallorapartofagrantorloanrequest,providedtheboarddetermines:
349349 18 (1)Thejobsnowproject:
350350 19 (a)Willnothappenwithoutthegrantorloanfromtheboard;or
351351 20 (b)Willhaveasignificantlocaleconomicimpact;or
352352 21 (c)Demonstrateshighlevelsofjobcreation;
353353 22 (2)Inthecaseofalow-interestorinterest-freeloan,thejobsnowprojectwill
354354 23generatesufficientrevenuesortheborrowerwillotherwisehavesufficientrevenuesavailable
355355 24toenabletheborrowertorepaytheloantothejobsnowfund,alongwithanyinteresttobe
356356 25charged;and
357357 26 (3)Noloanorgrantmayexceedtwomilliondollars.
358358 100.297.1.Theboardmayauthorizeataxcredit,asdescribedinthissection,tothe
359359 2ownerofanyrevenuebondsornotesissuedbytheboardpursuanttotheprovisionsof
360-HCS#2HB1007 10 3sections100.250to100.297,forinfrastructurefacilitiesasdefinedinsubdivision(9)of
360+HCSHB1007 10 3sections100.250to100.297,forinfrastructurefacilitiesasdefinedinsubdivision(9)of
361361 4section100.255,if,priortotheissuanceofsuchbondsornotes,theboarddeterminesthat:
362362 5 (1)Theavailabilityofsuchtaxcreditisamaterialinducementtotheundertakingof
363363 6theprojectinthestateofMissouriandtothesaleofthebondsornotes;
364364 7 (2)Theloanwithrespecttotheprojectisadequatelysecuredbyafirstdeedoftrustor
365365 8mortgageorcomparablelien,orothersecuritysatisfactorytotheboard.
366366 9 2.Uponmakingthedeterminationsspecifiedinsubsection1ofthissection,theboard
367367 10maydeclarethateachownerofanissueofrevenuebondsornotesshallbeentitled,inlieuof
368368 11anyotherdeductionwithrespecttosuchbondsornotes,toataxcreditagainstanytax
369369 12otherwiseduebysuchownerpursuanttotheprovisionsofchapter143,excluding
370370 13withholdingtaximposedbysections143.191to143.261,chapter147,orchapter148,inthe
371371 14amountofonehundredpercentoftheunpaidprincipalofandunpaidinterestonsuchbonds
372372 15ornotesheldbysuchownerinthe[taxable] taxyearofsuchownerfollowingthecalendar
373373 16yearofthedefaultoftheloanbytheborrowerwithrespecttotheproject.Theoccurrenceofa
374374 17defaultshallbegovernedbydocumentsauthorizingtheissuanceofthebonds.Thetaxcredit
375375 18allowedpursuanttothissectionshallbeavailabletotheoriginalownersofthebondsornotes
376376 19oranysubsequentownerorownersthereof.Onceanownerisentitledtoaclaim,anysuch
377377 20taxcreditsshallbetransferableasprovidedinsubsection7ofsection100.286.
378378 21NotwithstandinganyprovisionofMissourilawtothecontrary,anyportionofthetax
379379 22credittowhichanyownerofarevenuebondornoteisentitledpursuanttothissectionwhich
380380 23exceedsthetotalincometaxliabilityofsuchownerofarevenuebondornoteshallbecarried
381381 24forwardandallowedasacreditagainstanyfuturetaxesimposedonsuchownerwithinthe
382382 25nexttenyearspursuanttotheprovisionsofchapter143,excludingwithholdingtaximposed
383383 26bysections143.191to143.261,chapter147,orchapter148.Theeligibilityoftheownerof
384384 27anyrevenuebondornoteissuedpursuanttotheprovisionsofsections100.250to100.297for
385385 28thetaxcreditprovidedbythissectionshallbeexpresslystatedonthefaceofeachsuchbond
386386 29ornote.Thetaxcreditallowedpursuanttothissectionshallalsobeavailabletoanyfinancial
387387 30institutionorguarantorwhichexecutesanycreditfacilityassecurityforbondsissued
388388 31pursuanttothissectiontothesameextentasifsuchfinancialinstitutionorguarantorwasan
389389 32ownerofthebondsornotes,providedhowever,insuchcasethetaxcreditsprovidedbythis
390390 33sectionshallbeavailableimmediatelyfollowinganydefaultoftheloanbytheborrowerwith
391391 34respecttotheproject.Inadditiontoreimbursingthefinancialinstitutionorguarantorfor
392392 35claimsrelatingtounpaidprincipalandinterest,suchclaimmayincludepaymentofany
393393 36unpaidfeesimposedbysuchfinancialinstitutionorguarantorforuseofthecreditfacility.
394394 37 3.Theaggregateprincipalamountofrevenuebondsornotesoutstandingatanytime
395395 38withrespecttowhichthetaxcreditprovidedinthissectionshallbeavailableshallnotexceed
396396 39fiftymilliondollars.
397-HCS#2HB1007 11 40 4.Undersection23.253oftheMissourisunsetact:
397+HCSHB1007 11 40 4.Undersection23.253oftheMissourisunsetact:
398398 41 (1)Theprovisionsofthetaxcreditprogramauthorizedunderthissectionshall
399399 42automaticallysunsetonAugust28,2031,unlessreauthorizedbyanactofthegeneral
400400 43assembly;
401401 44 (2)Ifsuchprogramisreauthorized,theprogramauthorizedunderthissection
402402 45shallautomaticallysunsetsixyearsaftertheeffectivedateofthereauthorizationofthis
403403 46section;
404404 47 (3)Theprovisionsofthetaxcreditprogramauthorizedunderthissectionshall
405405 48terminateonSeptemberfirstofthecalendaryearimmediatelyfollowingthecalendar
406406 49yearinwhichtheprogramauthorizedunderthissectionissunset;and
407407 50 (4)Theprovisionsofthissubsectionshallnotbeconstruedtolimitorinanyway
408408 51impairataxpayer'sabilitytoredeemtaxcreditsauthorizedonorbeforethedatethe
409409 52programauthorizedunderthissectionexpires.
410410 100.850.1.Theapprovedcompanyshallremittotheboardajobdevelopment
411411 2assessmentfee,nottoexceedfivepercentofthegrosswagesofeacheligibleemployee
412412 3whosejobwascreatedasaresultoftheeconomicdevelopmentproject,ornottoexceedten
413413 4percentiftheeconomicdevelopmentprojectislocatedwithinadistressedcommunityas
414414 5definedinsection135.530,forthepurposeofretiringbondswhichfundtheeconomic
415415 6developmentproject.
416416 7 2.Anyapprovedcompanyremittinganassessmentasprovidedinsubsection1ofthis
417417 8sectionshallmakeitspayrollbooksandrecordsavailabletotheboardatsuchreasonable
418418 9timesastheboardshallrequestandshallfilewiththeboarddocumentationrespectingthe
419419 10assessmentastheboardmayrequire.
420420 11 3.Anyassessmentremittedpursuanttosubsection1ofthissectionshallceaseonthe
421421 12datethebondsareretired.
422422 13 4.Anyapprovedcompanywhichhaspaidanassessmentfordebtreductionshallbe
423423 14allowedataxcreditequaltotheamountoftheassessment.Thetaxcreditmaybeclaimed
424424 15againsttaxesotherwiseimposedbychapters143and148,exceptwithholdingtaxesimposed
425425 16undertheprovisionsofsections143.191to143.265,whichwereincurredduringthetax
426426 17periodinwhichtheassessmentwasmade.
427427 18 5.Innoeventshalltheaggregateamountoftaxcreditsauthorizedbysubsection4of
428428 19thissectionexceedtwenty-fivemilliondollarsannually.Ofsuchamount,ninehundredfifty
429429 20thousanddollarsshallbereservedforanapprovedprojectforaworldheadquartersofa
430430 21businesswhoseprimaryfunctionistaxreturnpreparationthatislocatedinanyhomerulecity
431431 22withmorethanfourhundredthousandinhabitantsandlocatedinmorethanonecounty,which
432432 23amountreservedshallendintheyearofthefinalmaturityofthecertificatesissuedforsuch
433433 24approvedproject.
434-HCS#2HB1007 12 25 6.Thedirectorofrevenueshallissuearefundtotheapprovedcompanytotheextent
434+HCSHB1007 12 25 6.Thedirectorofrevenueshallissuearefundtotheapprovedcompanytotheextent
435435 26thattheamountofcreditsallowedinsubsection4ofthissectionexceedstheamountofthe
436436 27approvedcompany'sincometax.
437437 28 7.Undersection23.253oftheMissourisunsetact:
438438 29 (1)Theprovisionsoftheprogramauthorizedundersections100.700to100.850
439439 30shallautomaticallysunsetonAugust28,2031,unlessreauthorizedbyanactofthe
440440 31generalassembly;
441441 32 (2)Ifsuchprogramisreauthorized,theprogramauthorizedundersections
442442 33100.700to100.850shallautomaticallysunsetsixyearsaftertheeffectivedateofthe
443443 34reauthorizationofsections100.700to100.850;
444444 35 (3)Sections100.700to100.850shallterminateonSeptemberfirstofthe
445445 36calendaryearimmediatelyfollowingthecalendaryearinwhichtheprogramauthorized
446446 37undersections100.700to100.850issunset;and
447447 38 (4)Theprovisionsofthissubsectionshallnotbeconstruedtolimitorinanyway
448448 39impairataxpayer'sabilitytoredeemtaxcreditsauthorizedonorbeforethedatethe
449449 40programauthorizedunderthissectionexpires.
450450 135.090.1.Asusedinthissection,thefollowingtermsmean:
451451 2 (1)"Homestead",thedwellinginMissouriownedbythesurvivingspouseandnot
452452 3exceedingfiveacresoflandsurroundingitasisreasonablynecessaryforuseofthedwelling
453453 4asahome.Asusedinthissection,"homestead"shallnotincludeanydwellingwhichis
454454 5occupiedbymorethantwofamilies;
455455 6 (2)"Publicsafetyofficer",anyfirefighter,policeofficer,capitolpoliceofficer,parole
456456 7officer,probationofficer,correctionalemployee,waterpatrolofficer,parkranger,
457457 8conservationofficer,commercialmotorvehicleenforcementofficer,emergencymedical
458458 9responder,asdefinedinsection190.100,emergencymedicaltechnician,firstresponder,or
459459 10highwaypatrolmanemployedbythestateofMissouriorapoliticalsubdivisionthereofwho
460460 11iskilledinthelineofduty,unlessthedeathwastheresultoftheofficer'sownmisconductor
461461 12abuseofalcoholordrugs;
462462 13 (3)"Survivingspouse",aspouse,whohasnotremarried,ofapublicsafetyofficer.
463463 14 2.ForalltaxyearsbeginningonorafterJanuary1,2008,asurvivingspouseshallbe
464464 15allowedacreditagainstthetaxotherwisedueunderchapter143,excludingwithholdingtax
465465 16imposedbysections143.191to143.265,inanamountequaltothetotalamountofthe
466466 17propertytaxesonthesurvivingspouse'shomesteadpaidduringthetaxyearforwhichthe
467467 18creditisclaimed.Asurvivingspousemayclaimthecreditauthorizedunderthissectionfor
468468 19eachtaxyearbeginningtheyearofdeathofthepublicsafetyofficerspouseuntilthetaxyear
469469 20inwhichthesurvivingspouseremarries.Nocreditshallbeallowedforthetaxyearinwhich
470470 21thesurvivingspouseremarries.Iftheamountallowableasacreditexceedstheincometax
471-HCS#2HB1007 13 22reducedbyothercredits,thentheexcessshallbeconsideredanoverpaymentoftheincome
471+HCSHB1007 13 22reducedbyothercredits,thentheexcessshallbeconsideredanoverpaymentoftheincome
472472 23tax.Thedepartmentshallprescribethemethodforsubmittingapplicationsforclaiming
473473 24thetaxcreditauthorizedunderthissection.Afterissuanceofataxcreditcertificateby
474474 25thedepartmentofpublicsafety,suchtaxcreditshallberedeemedbyfilingacopyofthe
475475 26taxcreditcertificatewiththetaxpayer'sincometaxreturnforthetaxyearforwhich
476476 27suchcreditwasissued.
477477 28 3.(1)ForallfiscalyearsbeginningonorafterJuly1,2026,thecumulative
478478 29amountoftaxcreditsissuedannuallytoalltaxpayersbythedepartmentofpublicsafety
479479 30underthissectionshallnotexceedthetotalcapamount,whichshallbeanamountequal
480480 31tothehighestannualamountoftaxcreditsissuedinanyonepreviousfiscalyear,from
481481 32fiscalyear2023tofiscalyear2025,asdeterminedandcalculatedbythedepartmentof
482482 33revenue.
483483 34 (2)Iftheamountoftaxcreditsclaimedinafiscalyearunderthissectionexceeds
484484 35thetotalcapdeterminedundersubdivision(1)ofthissubsection,taxcreditsshallbe
485485 36allowedbasedontheorderinwhichtheywereissued.
486486 37 4.OnandafterAugust28,2025,thedepartmentofpublicsafetyshall
487487 38administerthetaxcreditprovidedunderthissection.
488488 39 5.Thedepartmentof[revenue] publicsafetyshallpromulgaterulestoimplementthe
489489 40provisionsofthissection.
490490 41 [4.]6.Anyruleorportionofarule,asthattermisdefinedinsection536.010,thatis
491491 42createdundertheauthoritydelegatedinthissectionshallbecomeeffectiveonlyifitcomplies
492492 43withandissubjecttoalloftheprovisionsofchapter536and,ifapplicable,section536.028.
493493 44Thissectionandchapter536arenonseverableandifanyofthepowersvestedwiththe
494494 45generalassemblypursuanttochapter536toreview,todelaytheeffectivedate,orto
495495 46disapproveandannularulearesubsequentlyheldunconstitutional,thenthegrantof
496496 47rulemakingauthorityandanyruleproposedoradoptedafterAugust28,2007,shallbeinvalid
497497 48andvoid.
498498 49 [5.]7.Pursuanttosection23.253oftheMissourisunsetact:
499499 50 (1)TheprogramauthorizedunderthissectionshallexpireonDecember31,2027,
500500 51unlessreauthorizedbythegeneralassembly;and
501501 52 (2)ThissectionshallterminateonSeptemberfirstofthecalendaryearimmediately
502502 53followingthecalendaryearinwhichtheprogramauthorizedunderthissectionissunset;and
503503 54 (3)Theprovisionsofthissubsectionshallnotbeconstruedtolimitorinanyway
504504 55impairthedepartment'sabilitytoredeemtaxcreditsauthorizedonorbeforethedatethe
505505 56programauthorizedunderthissectionexpiresorataxpayer'sabilitytoredeemsuchtax
506506 57credits.
507-HCS#2HB1007 14 135.110.1.Anytaxpayerwhoshallestablishanewbusinessfacilityshallbeallowed
507+HCSHB1007 14 135.110.1.Anytaxpayerwhoshallestablishanewbusinessfacilityshallbeallowed
508508 2acredit,eachyearfortenyears,inanamountdeterminedpursuanttosubsection2or3ofthis
509509 3section,whicheverisapplicable,againstthetaximposedbychapter143,excluding
510510 4withholdingtaximposedbysections143.191to143.265,oraninsurancecompanywhich
511511 5shallestablishanewbusinessfacilitybysatisfyingtherequirementsinsubdivision(9)of
512512 6section135.100shallbeallowedacreditagainstthetaxotherwiseimposedbychapter148,
513513 7andinthecaseofaninsurancecompanyexemptfromthethirtypercentemployee
514514 8requirementofsection135.230,againstanyobligationimposedpursuanttosection375.916,
515515 9exceptthatnotaxpayershallbeentitledtomultipleten-yearperiodsforsubsequent
516516 10expansionsatthesamefacility,exceptasotherwiseprovidedinthissection.Forthepurpose
517517 11ofthissection,theterm"facility"shallmean,andbelimitedto,thefacilityorfacilitieswhich
518518 12arelocatedonthesamesiteinwhichthenewbusinessfacilityislocated,andinwhichthe
519519 13businessconductedatsuchfacilityorfacilitiesisdirectlyrelatedtothebusinessconductedat
520520 14thenewbusinessfacility.Notwithstandingtheprovisionsofthissubsection,ataxpayermay
521521 15beentitledtoanadditionalten-yearperiod,andanadditionalsix-yearperiodafterthe
522522 16expirationofsuchadditionalten-yearperiod,ifanewbusinessfacilityisexpandedinthe
523523 17eighth,ninthortenthyearofthecurrentten-yearperiodorinsubsequentyearsfollowingthe
524524 18expirationoftheten-yearperiod,ifthenumberofnewbusinessfacilityemployeesattributed
525525 19tosuchexpansionisatleasttwenty-fiveandtheamountofnewbusinessfacilityinvestment
526526 20attributedtosuchexpansionisatleastonemilliondollars.Creditsmaynotbecarried
527527 21forwardbutshallbeclaimedforthe[taxable] taxyearduringwhichcommencementof
528528 22commercialoperationsoccursatsuchnewbusinessfacility,andforeachofthenine
529529 23succeeding[taxable] taxyears.Aletterofintent,asprovidedforinsection135.258,mustbe
530530 24filedwiththedepartmentofeconomicdevelopmentnolaterthanfifteendayspriortothe
531531 25commencementofcommercialoperationsatthenewbusinessfacility.Theinitialapplication
532532 26forclaimingtaxcreditsmustbemadeinthetaxpayer'staxperiodimmediatelyfollowingthe
533533 27taxperiodinwhichcommencementofcommercialoperationsbeganatthenewbusiness
534534 28facility.ThisprovisionshallhaveeffectonallinitialapplicationsfiledonorafterAugust28,
535535 291992.Nocreditshallbeallowedpursuanttothissectionunlessthenumberofnewbusiness
536536 30facilityemployeesengagedormaintainedinemploymentatthenewbusinessfacilityforthe
537537 31[taxable] taxyearforwhichthecreditisclaimedequalsorexceedstwo;exceptthatthe
538538 32numberofnewbusinessfacilityemployeesengagedormaintainedinemploymentbya
539539 33revenue-producingenterpriseotherthanarevenue-producingenterprisedefinedinparagraphs
540540 34(a)to(g)and(i)to(l)ofsubdivision(12)ofsection135.100whichestablishesanofficeas
541541 35definedinsubdivision(9)ofsection135.100shallequalorexceedtwenty-five.
542-HCS#2HB1007 15 36 2.FortaxperiodsbeginningafterAugust28,1991,inthecaseofataxpayeroperating
542+HCSHB1007 15 36 2.FortaxperiodsbeginningafterAugust28,1991,inthecaseofataxpayeroperating
543543 37anexistingbusinessfacility,thecreditallowedbysubsection1ofthissectionshalloffsetthe
544544 38greaterof:
545545 39 (1)Someportionoftheincometaxotherwiseimposedbychapter143,excluding
546546 40withholdingtaximposedbysections143.191to143.265,orinthecaseofaninsurance
547547 41company,thetaxonthedirectpremiums,asdefinedinchapter148,andinthecaseofan
548548 42insurancecompanyexemptfromthethirtypercentemployeerequirementofsection135.230,
549549 43againstanyobligationimposedpursuanttosection375.916withrespecttosuchtaxpayer's
550550 44newbusinessfacilityincomeforthe[taxable] taxyearforwhichsuchcreditisallowed;or
551551 45 (2)Uptofiftypercentor,inthecaseofaneconomicdevelopmentprojectlocated
552552 46withinadistressedcommunityasdefinedinsection135.530,seventy-fivepercentofthe
553553 47businessincometaxotherwiseimposedbychapter143,excludingwithholdingtaximposed
554554 48bysections143.191to143.265,orinthecaseofaninsurancecompany,thetaxonthedirect
555555 49premiums,asdefinedinchapter148,andinthecaseofaninsurancecompanyexemptfrom
556556 50thethirtypercentemployeerequirementofsection135.230,againstanyobligationimposed
557557 51pursuanttosection375.916ifthebusinessoperatesnootherfacilitiesinMissouri.Inthecase
558558 52ofanexistingbusinessfacilityoperatingmorethanonefacilityinMissouri,thecredit
559559 53allowedinsubsection1ofthissectionshalloffsetuptothegreateroftheportionprescribed
560560 54insubdivision(1)ofthissubsectionortwenty-fivepercentor,inthecaseofaneconomic
561561 55developmentprojectlocatedwithinadistressedcommunityasdefinedinsection135.530,
562562 56thirty-fivepercentofthebusiness'tax,exceptthatnotaxpayeroperatingmorethanone
563563 57facilityinMissourishallbeallowedtooffsetmorethantwenty-fivepercentor,inthecaseof
564564 58aneconomicdevelopmentprojectlocatedwithinadistressedcommunityasdefinedinsection
565565 59135.530,thirty-fivepercentofthetaxpayer'sbusinessincometaxinanytaxperiodunderthe
566566 60methodprescribedinthissubdivision.Suchcreditshallbeanamountequaltothesumofone
567567 61hundreddollarsor,inthecaseofaneconomicdevelopmentprojectlocatedwithinadistressed
568568 62communityasdefinedinsection135.530,onehundredfiftydollarsforeachnewbusiness
569569 63facilityemployeeplusonehundreddollarsor,inthecaseofaneconomicdevelopmentproject
570570 64locatedwithinadistressedcommunityasdefinedinsection135.530,onehundredfifty
571571 65dollarsforeachonehundredthousanddollars,ormajorfractionthereof(whichshallbe
572572 66deemedtobefifty-onepercentormore)innewbusinessfacilityinvestment.Forthepurpose
573573 67ofthissection,taxcreditsearnedbyataxpayer,whoestablishesanewbusinessfacility
574574 68becauseitsatisfiestherequirementsofparagraph(c)ofsubdivision(5)ofsection135.100,
575575 69shalloffsetthegreateroftheportionprescribedinsubdivision(1)ofthissubsectionorupto
576576 70fiftypercentor,inthecaseofaneconomicdevelopmentprojectlocatedwithinadistressed
577577 71communityasdefinedinsection135.530,seventy-fivepercentofthebusiness'taxprovided
578578 72thebusinessoperatesnootherfacilitiesinMissouri.Inthecaseofabusinessoperatingmore
579-HCS#2HB1007 16 73thanonefacilityinMissouri,thecreditallowedinsubsection1ofthissectionshalloffsetup
579+HCSHB1007 16 73thanonefacilityinMissouri,thecreditallowedinsubsection1ofthissectionshalloffsetup
580580 74tothegreateroftheportionprescribedinsubdivision(1)ofthissubsectionortwenty-five
581581 75percentor,inthecaseofaneconomicdevelopmentprojectlocatedwithinadistressed
582582 76communityasdefinedinsection135.530,thirty-fivepercentofthebusiness'tax,exceptthat
583583 77notaxpayeroperatingmorethanonefacilityinMissourishallbeallowedtooffsetmorethan
584584 78twenty-fivepercentor,inthecaseofaneconomicdevelopmentprojectlocatedwithina
585585 79distressedcommunityasdefinedinsection135.530,thirty-fivepercentofthetaxpayer's
586586 80businessincometaxinanytaxperiodunderthemethodprescribedinthissubdivision.
587587 81 3.FortaxperiodsbeginningafterAugust28,1991,inthecaseofataxpayernot
588588 82operatinganexistingbusinessfacility,thecreditallowedbysubsection1ofthissectionshall
589589 83offsetthegreaterof:
590590 84 (1)Someportionoftheincometaxotherwiseimposedbychapter143,excluding
591591 85withholdingtaximposedbysections143.191to143.265,orinthecaseofaninsurance
592592 86company,thetaxonthedirectpremiums,asdefinedinchapter148,andinthecaseofan
593593 87insurancecompanyexemptfromthethirtypercentemployeerequirementofsection135.230,
594594 88againstanyobligationimposedpursuanttosection375.916withrespecttosuchtaxpayer's
595595 89newbusinessfacilityincomeforthe[taxable] taxyearforwhichsuchcreditisallowed;or
596596 90 (2)Uptoonehundredpercentofthebusinessincometaxotherwiseimposedby
597597 91chapter143,excludingwithholdingtaximposedbysections143.191to143.265,orinthe
598598 92caseofaninsurancecompany,thetaxonthedirectpremiums,asdefinedinchapter148,and
599599 93inthecaseofaninsurancecompanyexemptfromthethirtypercentemployeerequirementof
600600 94section135.230,againstanyobligationimposedpursuanttosection375.916ifthebusiness
601601 95hasnootherfacilitiesoperatinginMissouri.Inthecaseofataxpayernotoperatingan
602602 96existingbusinessandoperatingmorethanonefacilityinMissouri,thecreditallowedby
603603 97subsection1ofthissectionshalloffsetuptothegreateroftheportionprescribedin
604604 98subdivision(1)ofthissubsectionortwenty-fivepercentor,inthecaseofaneconomic
605605 99developmentprojectlocatedwithinadistressedcommunityasdefinedinsection135.530,
606606 100thirty-fivepercentofthebusiness'tax,exceptthatnotaxpayeroperatingmorethanone
607607 101facilityinMissourishallbeallowedtooffsetmorethantwenty-fivepercentor,inthecaseof
608608 102aneconomicdevelopmentprojectlocatedwithinadistressedcommunityasdefinedinsection
609609 103135.530,thirty-fivepercentofthetaxpayer'sbusinessincometaxinanytaxperiodunderthe
610610 104methodprescribedinthissubdivision.Suchcreditshallbeanamountequaltothesumof
611611 105seventy-fivedollarsor,inthecaseofaneconomicdevelopmentprojectlocatedwithina
612612 106distressedcommunityasdefinedinsection135.530,onehundredtwenty-fivedollarsforeach
613613 107newbusinessfacilityemployeeplusseventy-fivedollarsor,inthecaseofaneconomic
614614 108developmentprojectlocatedwithinadistressedcommunityasdefinedinsection135.530,
615615 109onehundredtwenty-fivedollarsforeachonehundredthousanddollars,ormajorfraction
616-HCS#2HB1007 17 110thereof(whichshallbedeemedtobefifty-onepercentormore)innewbusinessfacility
616+HCSHB1007 17 110thereof(whichshallbedeemedtobefifty-onepercentormore)innewbusinessfacility
617617 111investment.
618618 112 4.Thenumberofnewbusinessfacilityemployeesduringany[taxable] taxyearshall
619619 113bedeterminedbydividingbytwelvethesumofthenumberofindividualsemployedonthe
620620 114lastbusinessdayofeachmonthofsuch[taxable] taxyear.Ifthenewbusinessfacilityisin
621621 115operationforlessthantheentire[taxable] taxyear,thenumberofnewbusinessfacility
622622 116employeesshallbedeterminedbydividingthesumofthenumberofindividualsemployedon
623623 117thelastbusinessdayofeachfullcalendarmonthduringtheportionofsuch[taxable] taxyear
624624 118duringwhichthenewbusinessfacilitywasinoperationbythenumberoffullcalendar
625625 119monthsduringsuchperiod.Forthepurposeofcomputingthecreditallowedbythissection
626626 120inthecaseofafacilitywhichqualifiesasanewbusinessfacilitybecauseitqualifiesasa
627627 121separatefacilitypursuanttosubsection6ofthissection,and,inthecaseofanewbusiness
628628 122facilitywhichsatisfiestherequirementsofparagraph(c)ofsubdivision(5)ofsection
629629 123135.100,orsubdivision(11)ofsection135.100,thenumberofnewbusinessfacility
630630 124employeesatsuchfacilityshallbereducedbytheaveragenumberofindividualsemployed,
631631 125computedasprovidedinthissubsection,atthefacilityduringthe[taxable] taxyear
632632 126immediatelyprecedingthe[taxable] taxyearinwhichsuchexpansion,acquisition,or
633633 127replacementoccurredandshallfurtherbereducedbythenumberofindividualsemployedby
634634 128thetaxpayerorrelatedtaxpayerthatwassubsequentlytransferredtothenewbusinessfacility
635635 129fromanotherMissourifacilityandforwhichcreditsauthorizedinthissectionarenotbeing
636636 130earned,whethersuchcreditsareearnedbecauseofanexpansion,acquisition,relocationorthe
637637 131establishmentofanewfacility.
638638 132 5.Forthepurposeofcomputingthecreditallowedbythissectioninthecaseofa
639639 133facilitywhichqualifiesasanewbusinessfacilitybecauseitqualifiesasaseparatefacility
640640 134pursuanttosubsection6ofthissection,and,inthecaseofanewbusinessfacilitywhich
641641 135satisfiestherequirementsofparagraph(c)ofsubdivision(5)ofsection135.100or
642642 136subdivision(11)ofsection135.100,theamountofthetaxpayer'snewbusinessfacility
643643 137investmentinsuchfacilityshallbereducedbytheaverageamount,computedasprovidedin
644644 138subdivision(8)ofsection135.100fornewbusinessfacilityinvestment,oftheinvestmentof
645645 139thetaxpayer,orrelatedtaxpayerimmediatelyprecedingsuchexpansionorreplacementorat
646646 140thetimeofacquisition.Furthermore,theamountofthetaxpayer'snewbusinessfacility
647647 141investmentshallalsobereducedbytheamountofinvestmentemployedbythetaxpayeror
648648 142relatedtaxpayerwhichwassubsequentlytransferredtothenewbusinessfacilityfromanother
649649 143Missourifacilityandforwhichcreditsauthorizedinthissectionarenotbeingearned,
650650 144whethersuchcreditsareearnedbecauseofanexpansion,acquisition,relocationorthe
651651 145establishmentofanewfacility.
652-HCS#2HB1007 18 146 6.Ifafacility,whichdoesnotconstituteanewbusinessfacility,isexpandedbythe
652+HCSHB1007 18 146 6.Ifafacility,whichdoesnotconstituteanewbusinessfacility,isexpandedbythe
653653 147taxpayer,theexpansionshallbeconsideredaseparatefacilityeligibleforthecreditallowed
654654 148bythissectionif:
655655 149 (1)Thetaxpayer'snewbusinessfacilityinvestmentintheexpansionduringthetax
656656 150periodinwhichthecreditsallowedinthissectionareclaimedexceedsonehundredthousand
657657 151dollars,or,ifless,onehundredpercentoftheinvestmentintheoriginalfacilitypriorto
658658 152expansionandifthenumberofnewbusinessfacilityemployeesengagedormaintainedin
659659 153employmentattheexpansionfacilityforthe[taxable] taxyearforwhichcreditisclaimed
660660 154equalsorexceedstwo,exceptthatthenumberofnewbusinessfacilityemployeesengagedor
661661 155maintainedinemploymentattheexpansionfacilityforthe[taxable] taxyearforwhichthe
662662 156creditisclaimedequalsorexceedstwenty-fiveifanofficeasdefinedinsubdivision(9)of
663663 157section135.100isestablishedbyarevenue-producingenterpriseotherthanarevenue-
664664 158producingenterprisedefinedinparagraphs(a)to(g)and(i)to(l)ofsubdivision(12)of
665665 159section135.100andthetotalnumberofemployeesatthefacilityaftertheexpansionisat
666666 160leasttwogreaterthanthetotalnumberofemployeesbeforetheexpansion,exceptthatthe
667667 161totalnumberofemployeesatthefacilityaftertheexpansionisatleastgreaterthanthe
668668 162numberofemployeesbeforetheexpansionbytwenty-five,ifanofficeasdefinedin
669669 163subdivision(9)ofsection135.100isestablishedbyarevenue-producingenterpriseotherthan
670670 164arevenue-producingenterprisedefinedinparagraphs(a)to(g)and(i)to(l)ofsubdivision
671671 165(12)ofsection135.100;and
672672 166 (2)Theexpansionotherwiseconstitutesanewbusinessfacility.Thetaxpayer's
673673 167investmentintheexpansionandintheoriginalfacilitypriortoexpansionshallbedetermined
674674 168inthemannerprovidedinsubdivision(8)ofsection135.100.
675675 169 7.Nocreditshallbeallowedpursuanttothissectiontoapublicutility,assuchtermis
676676 170definedinsection386.020.Notwithstandinganyprovisionofthissubsectiontothecontrary,
677677 171motorcarriers,bargelinesorrailroadsengagedintransportingpropertyforhire,orany
678678 172interexchangetelecommunicationscompanyorlocalexchangetelecommunicationscompany
679679 173thatestablishesanewbusinessfacilityshallbeeligibletoqualifyforcreditsallowedinthis
680680 174section.
681681 175 8.Forthepurposesofthecreditdescribedinthissection,inthecaseofacorporation
682682 176describedinsection143.471orpartnership,incomputingMissouri'staxliability,thiscredit
683683 177shallbeallowedtothefollowing:
684684 178 (1)Theshareholdersofthecorporationdescribedinsection143.471;
685685 179 (2)Thepartnersofthepartnership.
686686 180
687-HCS#2HB1007 19 181Thiscreditshallbeapportionedtotheentitiesdescribedinsubdivisions(1)and(2)ofthis
687+HCSHB1007 19 181Thiscreditshallbeapportionedtotheentitiesdescribedinsubdivisions(1)and(2)ofthis
688688 182subsectioninproportiontotheirshareofownershiponthelastdayofthetaxpayer'stax
689689 183period.
690690 184 9.Notwithstandinganyprovisionoflawtothecontrary,anyemployee-owned
691691 185engineeringfirmclassifiedasSIC8711,architecturalfirmasclassifiedSIC8712,or
692692 186accountingfirmclassifiedSIC8721establishinganewbusinessfacilitybecauseitqualifies
693693 187asaheadquartersasdefinedinsubsection10ofthissection,shallbeallowedthecredits
694694 188describedinsubsection11ofthissectionunderthesametermsandconditionsprescribedin
695695 189sections135.100to135.150;provided:
696696 190 (1)Suchfacilitymaintainsanaverageofatleastfivehundrednewbusinessfacility
697697 191employeesasdefinedinsubdivision(6)ofsection135.100duringthetaxpayer'staxperiodin
698698 192whichsuchcreditsarebeingclaimed;and
699699 193 (2)Suchfacilitymaintainsanaverageofatleasttwentymilliondollarsinnew
700700 194businessfacilityinvestmentasdefinedinsubdivision(8)ofsection135.100duringthe
701701 195taxpayer'staxperiodinwhichsuchcreditsarebeingclaimed.
702702 196 10.Forthepurposeofthecreditsallowedinsubsection9ofthissection:
703703 197 (1)"Employee-owned"meansthebusinessemployeesowndirectlyorindirectly,
704704 198includingthroughanemployeestockownershipplanortrustatleast:
705705 199 (a)Seventy-fivepercentofthetotalbusinessstock,ifthetaxpayerisacorporation
706706 200describedinsection143.441;or
707707 201 (b)Onehundredpercentoftheinterestinthebusinessifthetaxpayerisacorporation
708708 202describedinsection143.471,apartnership,oralimitedliabilitycompany;and
709709 203 (2)"Headquarters"means:
710710 204 (a)Theadministrativemanagementofatleastthreeintegratedfacilitiesoperatedby
711711 205thetaxpayerorrelatedtaxpayer;and
712712 206 (b)Thetaxpayer'sbusinesshasbeenheadquarteredinthisstateformorethanfifty
713713 207years.
714714 208 11.Thetaxcreditsallowedinsubsection9ofthissectionshallbethegreaterof:
715715 209 (1)Fourhundreddollarsforeachnewbusinessfacilityemployeeascomputedin
716716 210subsection4ofthissectionandfourpercentofnewbusinessfacilityinvestmentascomputed
717717 211insubsection5ofthissection;or
718718 212 (2)Fivehundreddollarsforeachnewbusinessfacilityemployeeascomputedin
719719 213subsection4ofthissection,andfivehundreddollarsofeachonehundredthousanddollarsof
720720 214newbusinessfacilityinvestmentascomputedinsubsection5ofthissection.
721721 215 12.Forthepurposeofthecreditdescribedinsubsection9ofthissection,inthecase
722722 216ofasmallcorporationdescribedinsection143.471,orapartnership,oralimitedliability
723723 217company,thecreditsallowedinsubsection9ofthissectionshallbeapportionedinproportion
724-HCS#2HB1007 20 218totheshareofownershipofeachshareholder,partnerorstockholderonthelastdayofthe
724+HCSHB1007 20 218totheshareofownershipofeachshareholder,partnerorstockholderonthelastdayofthe
725725 219taxpayer'staxperiodforwhichsuchcreditsarebeingclaimed.
726726 220 13.Forthepurposeofthecreditdescribedinsubsection9ofthissection,taxcredits
727727 221earned,totheextentsuchcreditsexceedthetaxpayer'sMissouritaxontaxablebusiness
728728 222income,shallconstituteanoverpaymentoftaxesandinsuchcase,berefundedtothetaxpayer
729729 223providedsuchrefundsareusedbythetaxpayertopurchasespecifiedfacilityitems.Forthe
730730 224purposeoftherefundasauthorizedinthissubsection,"specifiedfacilityitems"means
731731 225equipment,computers,computersoftware,copiers,tenantfinishing,furnitureandfixtures
732732 226installedandinuseatthenewbusinessfacilityduringthetaxpayer's[taxable] taxyear.The
733733 227taxpayershallperfectsuchrefundbyattestinginwritingtothedirector,subjecttothe
734734 228penaltiesofperjury,therequirementsprescribedinthissubsectionhavebeenmetand
735735 229submittinganyotherinformationthedirectormayrequire.
736736 230 14.Notwithstandinganyprovisionoflawtothecontrary,anytaxpayermaysell,
737737 231assign,exchange,conveyorotherwisetransfertaxcreditsallowedinsubsection9ofthis
738738 232sectionunderthetermsandconditionsprescribedinsubdivisions(1)and(2)ofthis
739739 233subsection.Suchtaxpayer,referredtoastheassignorforthepurposeofthissubsection,may
740740 234sell,assign,exchangeorotherwisetransferearnedtaxcredits:
741741 235 (1)Fornolessthanseventy-fivepercentoftheparvalueofsuchcredits;and
742742 236 (2)Inanamountnottoexceedonehundredpercentofsuchearnedcredits.
743743 237
744744 238Thetaxpayeracquiringtheearnedcreditsreferredtoastheassigneeforthepurposeofthis
745745 239subsectionmayusetheacquiredcreditstooffsetuptoonehundredpercentofthetax
746746 240liabilitiesotherwiseimposedbychapter143,excludingwithholdingtaximposedbysections
747747 241143.191to143.261,orchapter148,orinthecaseofaninsurancecompanyexemptfromthe
748748 242thirtypercentemployeerequirementofsection135.230,againstanyobligationimposed
749749 243pursuanttosection375.916.Unusedcreditsinthehandsoftheassigneemaybecarried
750750 244forwardforuptofivetaxperiods,providedallsuchcreditsshallbeclaimedwithintentax
751751 245periodsfollowingthetaxperiodinwhichcommencementofcommercialoperationsoccurred
752752 246atthenewbusinessfacility.Theassignorshallenterintoawrittenagreementwiththe
753753 247assigneeestablishingthetermsandconditionsoftheagreementandshallperfectsuchtransfer
754754 248bynotifyingthedirectorinwritingwithinthirtycalendardaysfollowingtheeffectivedateof
755755 249thetransferandshallprovideanyinformationasmayberequiredbythedirectortoadminister
756756 250andcarryouttheprovisionsofthissubsection.Notwithstandinganyotherprovisionoflawto
757757 251thecontrary,theamountreceivedbytheassignorofsuchtaxcreditshallbetaxableasincome
758758 252oftheassignor,andthedifferencebetweentheamountpaidbytheassigneeandtheparvalue
759759 253ofthecreditsshallbetaxableasincomeoftheassignee.
760-HCS#2HB1007 21 254 15.(1)ForallfiscalyearsbeginningonorafterJuly1,2026,thecumulative
760+HCSHB1007 21 254 15.(1)ForallfiscalyearsbeginningonorafterJuly1,2026,thecumulative
761761 255amountoftaxcreditsissuedannuallytoalltaxpayersunderthissectionshallnotexceed
762762 256thetotalcapamount,whichshallbeanamountequaltothehighestannualamountof
763763 257taxcreditsissuedinanyonepreviousfiscalyear,fromfiscalyear2023tofiscalyear
764764 2582025,asdeterminedandcalculatedbythedepartment.
765765 259 (2)Iftheamountoftaxcreditsclaimedinafiscalyearunderthissectionexceeds
766766 260thetotalcapdeterminedundersubdivision(1)ofthissubsection,taxcreditsshallbe
767767 261allowedbasedontheorderinwhichtheywereissued.
768768 135.326.Asusedinsections135.325to135.339,thefollowingtermsshallmean:
769769 2 (1)"Businessentity",person,firm,apartnerinafirm,corporationorashareholderin
770770 3anScorporationdoingbusinessinthestateofMissouriandsubjecttothestateincometax
771771 4imposedbytheprovisionsofchapter143,oracorporationsubjecttotheannualcorporation
772772 5franchisetaximposedbytheprovisionsofchapter147,oraninsurancecompanypayingan
773773 6annualtaxonitsgrosspremiumreceiptsinthisstate,orotherfinancialinstitutionpaying
774774 7taxestothestateofMissourioranypoliticalsubdivisionofthisstateundertheprovisionsof
775775 8chapter148,oranexpresscompanywhichpaysanannualtaxonitsgrossreceiptsinthisstate
776776 9pursuanttochapter153;
777777 10 (2)"Child",anyindividualwho:
778778 11 (a)Hasnotattainedanageofatleasteighteenyears;or
779779 12 (b)Iseighteenyearsofageorolderbutisphysicallyormentallyincapableofcaring
780780 13forhimselforherself;
781781 14 (3)"Department",thedepartmentofsocialservices;
782782 15 (4)"Disability",amental,physical,oremotionalimpairmentthatsubstantiallylimits
783783 16oneormoremajorlifeactivities,whethertheimpairmentiscongenitaloracquiredby
784784 17accident,injuryordisease,andwheretheimpairmentisverifiedbymedicalfindings;
785785 18 [(4)](5)"Nonrecurringadoptionexpenses",reasonableandnecessaryadoptionfees,
786786 19courtcosts,[attorney] attorney'sfees,andotherexpenseswhicharedirectlyrelatedtothe
787787 20legaladoptionofachildandwhicharenotincurredinviolationoffederal,state,orlocallaw;
788788 21 [(5)](6)"Specialneedschild",achildforwhomithasbeendeterminedbythe
789789 22children'sdivision,orbyachild-placingagencylicensedbythestate,orbyacourtof
790790 23competentjurisdictiontobeachild:
791791 24 (a)Thatcannotorshouldnotbereturnedtothehomeofhisorherparents;and
792792 25 (b)Whohasaspecificfactororconditionsuchasage,membershipinasiblinggroup,
793793 26medicalconditionordiagnosis,ordisabilitybecauseofwhichitisreasonabletoconcludethat
794794 27suchchildcannotbeeasilyplacedwithadoptiveparents;
795795 28 [(6)](7)"Statetaxliability",anyliabilityincurredbyataxpayerundertheprovisions
796796 29ofchapter143,chapter147,chapter148,andchapter153,exclusiveoftheprovisionsrelating
797-HCS#2HB1007 22 30tothewithholdingoftaxasprovidedforinsections143.191to143.265andrelated
797+HCSHB1007 22 30tothewithholdingoftaxasprovidedforinsections143.191to143.265andrelated
798798 31provisions.
799799 135.339.1.OnandafterAugust28,2025,thedepartmentofsocialservicesshall
800800 2administerthetaxcreditprovidedundersections135.325to135.339.Thedepartment
801801 3shallprescribethemethodforsubmittingapplicationsforclaimingthetaxcredit
802802 4authorizedundersections135.325to135.339.Afterissuanceofataxcreditcertificate
803803 5bythedepartmentofsocialservices,suchtaxcreditshallberedeemedbyfilingacopyof
804804 6thetaxcreditcertificatewiththetaxpayer'sincometaxreturnforthetaxyearforwhich
805805 7suchcreditwasissued.
806806 8 2.Thedirectorofrevenue[, inconsultationwiththechildren'sdivision,] andthe
807807 9directorofthedepartmentofsocialservicesshallprescribesuchrulesandregulations
808808 10necessarytocarryouttheprovisionsofsections135.325to135.339.Noruleorportionofa
809809 11rulepromulgatedundertheauthorityofsections135.325to135.339shallbecomeeffective
810810 12unlessithasbeenpromulgatedpursuanttotheprovisionsofsection536.024.
811+13 3.Undersection23.253oftheMissourisunsetact:
812+14 (1)Theprovisionsoftheprogramauthorizedundersections135.325to135.339
813+15shallautomaticallysunsetonAugust28,2031,unlessreauthorizedbyanactofthe
814+16generalassembly;
815+17 (2)Ifsuchprogramisreauthorized,theprogramauthorizedundersections
816+18135.325to135.339shallautomaticallysunsetsixyearsaftertheeffectivedateofthe
817+19reauthorizationofsections135.325to135.339;
818+20 (3)Sections135.325to135.339shallterminateonSeptemberfirstofthe
819+21calendaryearimmediatelyfollowingthecalendaryearinwhichtheprogramauthorized
820+22undersections135.325to135.339issunset;and
821+23 (4)Theprovisionsofthissubsectionshallnotbeconstruedtolimitorinanyway
822+24impairataxpayer'sabilitytoredeemtaxcreditsauthorizedonorbeforethedatethe
823+25programauthorizedunderthissectionexpires.
811824 135.341.1.Asusedinthissection,thefollowingtermsshallmean:
812825 2 (1)"CASA",anentitywhichreceivesfundingfromthecourt-appointedspecial
813826 3advocatefundestablishedundersection476.777,includinganassociationbasedinthisstate,
814827 4affiliatedwithanationalassociation,organizedtoprovidesupporttoentitiesreceiving
815828 5fundingfromthecourt-appointedspecialadvocatefund;
816829 6 (2)"Childadvocacycenters",theregionalchildassessmentcenterslistedin
817830 7subsection2ofsection210.001,includinganassociationbasedinthisstate,affiliatedwitha
818831 8nationalassociation,andorganizedtoprovidesupporttoentitieslistedinsubsection2of
819832 9section210.001;
820833 10 (3)"Contribution",theamountofdonationtoaqualifiedagency;
821-11 (4)"Crisiscarecenter",entitiescontractedwiththisstatewhichprovidetemporary
834+HCSHB1007 23 11 (4)"Crisiscarecenter",entitiescontractedwiththisstatewhichprovidetemporary
822835 12careforchildrenwhoseagerangesfrombirththroughseventeenyearsofagewhoseparents
823836 13orguardianareexperiencinganunexpectedandunstableorseriousconditionthatrequires
824837 14immediateactionresultinginshort-termcare,usuallythreetofivecontinuous,uninterrupted
825838 15days,forchildrenwhomaybeatriskforchildabuse,neglect,orinanemergencysituation;
826839 16 (5)"Department",thedepartmentof[revenue] socialservices;
827840 17 (6)"Director",thedirectorofthedepartmentof[revenue] socialservices;
828841 18 (7)"Qualifiedagency",CASA,childadvocacycenters,oracrisiscarecenter;
829842 19 (8)"Taxliability",thetaxdueunderchapter143otherthantaxeswithheldunder
830843 20sections143.191to143.265.
831844 21 2.ForalltaxyearsbeginningonorafterJanuary1,2013,ataxcreditmaybeclaimed
832845 22inanamountequaltouptofiftypercentofaverifiedcontributiontoaqualifiedagencyand
833846 23shallbenamedthechampionforchildrentaxcredit.Theminimumamountofanytaxcredit
834-HCS#2HB1007 23 24issuedshallnotbelessthanfiftydollarsandshallbeappliedtotaxesdueunderchapter143,
847+24issuedshallnotbelessthanfiftydollarsandshallbeappliedtotaxesdueunderchapter143,
835848 25excludingsections143.191to143.265.Acontributionverificationshallbeissuedtothe
836849 26taxpayerbytheagencyreceivingthecontribution.Suchcontributionverificationshall
837850 27includethetaxpayer'sname,SocialSecuritynumber,amountoftaxcredit,amountof
838851 28contribution,thenameandaddressoftheagencyreceivingthecredit,andthedatethe
839852 29contributionwasmade.Thetaxcreditprovidedunderthissubsectionshallbeinitiallyfiled
840853 30fortheyearinwhichtheverifiedcontributionismade.
841854 31 3.Thecumulativeamountofthetaxcredits[redeemed] issuedshallnotexceedone
842855 32milliondollarsforallfiscalyearsendingonorbeforeJune30,2019,andonemillionfive
843856 33hundredthousanddollarsforallfiscalyearsbeginningonorafterJuly1,2019.Theamount
844857 34availableshallbeequallydividedamongthethreequalifiedagencies:CASA,childadvocacy
845858 35centers,orcrisiscarecenters,tobeusedtowardstaxcreditsissued.Intheeventtaxcredits
846859 36claimedunderoneagencydonottotaltheallocatedamountforthatagency,theunused
847860 37portionforthatagencywillbemadeavailabletotheremainingagenciesequally.Intheevent
848861 38thetotalamountoftaxcreditsclaimedforanyoneagencyexceedstheamountavailablefor
849862 39thatagency,theamount[redeemed] issuedshallandwillbeapportionedequallytoalleligible
850863 40taxpayersclaimingthecreditunderthatagency.
851864 41 4.PriortoDecemberthirty-firstofeachyear,eachqualifiedagencyshallapplytothe
852865 42departmentofsocialservicesinordertoverifytheirqualifiedagencystatusandapplyfor
853866 43thechampionforchildrentaxcredit.Uponadeterminationthattheagencyiseligibletobe
854867 44aqualifiedagency,thedepartmentofsocialservicesshallprovidealetterofeligibilityand
855868 45thetaxcreditcertificatetosuchagency.NolaterthanFebruaryfirstofeachyear,the
856869 46departmentofsocialservicesshallprovidealistofqualifiedagenciestothedepartmentof
857870 47revenue.Alltaxcreditapplicationstoclaimthechampionforchildrentaxcreditshallbe
858-48filedbetweenJulyfirstandAprilfifteenthofeachfiscalyear.Ataxpayershall[applyfor]
871+HCSHB1007 24 48filedbetweenJulyfirstandAprilfifteenthofeachfiscalyear.Ataxpayershall[applyfor]
859872 49redeemthechampionforchildrentaxcreditbyattachingacopyofthecontribution
860873 50verificationprovidedbyaqualifiedagencyandthetaxcreditcertificatetosuchtaxpayer's
861874 51incometaxreturn.
862875 52 5.Anyamountoftaxcreditwhichexceedsthetaxdueorwhichisappliedforand
863876 53otherwiseeligibleforissuancebutnotissuedshallnotberefundedbutmaybecarriedoverto
864877 54anysubsequenttaxyear,nottoexceedatotaloffiveyears.
865878 55 6.Taxcreditsmaynotbeassigned,transferredorsold.
866879 56 7.(1)Intheeventacreditdenial,duetolackofavailablefunds,causesabalance-due
867880 57noticetobegeneratedbythedepartmentofrevenue,oranyotherredeemingagency,the
868881 58taxpayerwillnotbeheldliableforanypenaltyorinterest,providedthebalanceispaid,or
869882 59approvedpaymentarrangementshavebeenmade,withinsixtydaysfromthenoticeofdenial.
870-HCS#2HB1007 24 60 (2)Intheeventthebalanceisnotpaidwithinsixtydaysfromthenoticeofdenial,the
883+60 (2)Intheeventthebalanceisnotpaidwithinsixtydaysfromthenoticeofdenial,the
871884 61remainingbalanceshallbedueandpayableundertheprovisionsofchapter143.
872885 62 8.Thedepartmentofsocialservicesmaypromulgatesuchrulesorregulationsasare
873886 63necessarytoadministertheprovisionsofthissection.Anyruleorportionofarule,asthat
874887 64termisdefinedinsection536.010,thatiscreatedundertheauthoritydelegatedinthissection
875888 65shallbecomeeffectiveonlyifitcomplieswithandissubjecttoalloftheprovisionsof
876889 66chapter536and,ifapplicable,section536.028.Thissectionandchapter536are
877890 67nonseverableandifanyofthepowersvestedwiththegeneralassemblypursuanttochapter
878891 68536toreview,todelaytheeffectivedate,ortodisapproveandannularulearesubsequently
879892 69heldunconstitutional,thenthegrantofrulemakingauthorityandanyruleproposedor
880893 70adoptedafterAugust28,2013,shallbeinvalidandvoid.
881894 71 9.Pursuanttosection23.253,oftheMissourisunsetact:
882895 72 (1)TheprogramauthorizedunderthissectionshallbereauthorizedasofDecember
883896 7331,2019,andshallexpireonDecember31,2025,unlessreauthorizedbythegeneral
884897 74assembly;and
885898 75 (2)ThissectionshallterminateonSeptemberfirstofthecalendaryearimmediately
886899 76followingthecalendaryearinwhichtheprogramauthorizedunderthissectionissunset;and
887900 77 (3)Theprovisionsofthissubsectionshallnotbeconstruedtolimitorinanyway
888901 78impairthedepartment'sabilitytoredeemtaxcreditsauthorizedonorbeforethedatethe
889902 79programauthorizedunderthissectionexpiresorataxpayer'sabilitytoredeemsuchcredits.
890903 80 10.BeginningonMarch29,2013,anyverifiedcontributiontoaqualifiedagency
891904 81madeonorafterJanuary1,2013,shallbeeligiblefortaxcreditsasprovidedbythissection.
892905 82 11.OnandafterAugust28,2025,thedepartmentofsocialservicesshall
893906 83administerthetaxcreditprovidedunderthissection.
894-135.352.1.AtaxpayerowninganinterestinaqualifiedMissouriprojectshall,
895-2subjecttothelimitationsprovidedundertheprovisionsofsubsection3ofthissection,be
896-3allowedastatetaxcredit,whetherornotallowedafederaltaxcredit,tobetermedthe
897-4Missourilow-incomehousingtaxcredit,ifthecommissionissuesaneligibilitystatementfor
898-5thatproject.
899-6 2.ForqualifiedMissouriprojectsplacedinserviceafterJanuary1,1997,the
900-7Missourilow-incomehousingtaxcreditavailabletoaprojectshallbesuchamountasthe
901-8commissionshalldetermineisnecessarytoensurethefeasibilityoftheproject,uptoan
902-9amountequaltothefederallow-incomehousingtaxcreditforaqualifiedMissouriproject,
903-10forafederaltaxperiod,andsuchamountshallbesubtractedfromtheamountofstatetax
904-11otherwisedueforthesametaxperiod.
905-12 3.Nomorethansixmilliondollarsintaxcreditsshallbeauthorizedeachfiscalyear
906-13forprojectsfinancedthroughtax-exemptbondissuance.
907-HCS#2HB1007 25 14 4.TheMissourilow-incomehousingtaxcreditshallbetakenagainstthetaxesandin
908-15theorderspecifiedpursuanttosection32.115.Thecreditauthorizedbythissectionshallnot
909-16berefundable.Anyamountofcreditthatexceedsthetaxdueforataxpayer'staxableyear
910-17maybecarriedbacktoanyofthetaxpayer'sthreepriortaxableyearsorcarriedforwardto
911-18anyofthetaxpayer'sfivesubsequenttaxableyears.
912-19 5.AlloranyportionofMissouritaxcreditsissuedinaccordancewiththeprovisions
913-20ofsections135.350to135.362maybeallocatedtopartieswhoareeligiblepursuanttothe
914-21provisionsofsubsection1ofthissection.BeginningJanuary1,1995,forqualifiedprojects
915-22whichbeganonorafterJanuary1,1994,anownerofaqualifiedMissouriprojectshallcertify
916-23tothedirectortheamountofcreditallocatedtoeachtaxpayer.Theowneroftheprojectshall
917-24providetothedirectorappropriateinformationsothatthelow-incomehousingtaxcreditcan
918-25beproperlyallocated.
919-26 6.IntheeventthatrecaptureofMissourilow-incomehousingtaxcreditsisrequired
920-27pursuanttosubsection2ofsection135.355,anystatementsubmittedtothedirectoras
921-28providedinthissectionshallincludetheproportionofthestatecreditrequiredtobe
922-29recaptured,theidentityofeachtaxpayersubjecttotherecaptureandtheamountofcredit
923-30previouslyallocatedtosuchtaxpayer.
924-31 7.Thedirectorofthedepartmentmaypromulgaterulesandregulationsnecessaryto
925-32administertheprovisionsofthissection.Noruleorportionofarulepromulgatedpursuantto
926-33theauthorityofthissectionshallbecomeeffectiveunlessithasbeenpromulgatedpursuantto
927-34theprovisionsofsection536.024.
928-35 8.Thetaxcreditsauthorizedundertheprovisionsofsections135.350to135.362
929-36shallnotbesubjecttoappropriations,asprovidedundersubsection4ofsection135.835.
930-135.432.1.Thedepartmentofeconomicdevelopmentshallpromulgatesuchrules
907+HCSHB1007 25 135.432.1.Thedepartmentofeconomicdevelopmentshallpromulgatesuchrules
931908 2andregulationsasarenecessarytoimplementtheprovisionsofsections135.400to135.430.
932909 3 2.Noruleorportionofarulepromulgatedundertheauthorityofthischaptershall
933910 4becomeeffectiveuntilithasbeenapprovedbythejointcommitteeonadministrativerulesin
934911 5accordancewiththeproceduresprovidedinthissection,andthedelegationofthelegislative
935912 6authoritytoenactlawbytheadoptionofsuchrulesisdependentuponthepowerofthejoint
936913 7committeeonadministrativerulestoreviewandsuspendrulespendingratificationbythe
937914 8senateandthehouseofrepresentativesasprovidedinthissection.
938915 9 3.Uponfilinganyproposedrulewiththesecretaryofstate,thedepartmentshall
939916 10concurrentlysubmitsuchproposedruletothecommittee,whichmayholdhearingsuponany
940917 11proposedruleorportionthereofatanytime.
941918 12 4.Afinalorderofrulemakingshallnotbefiledwiththesecretaryofstateuntilthirty
942919 13daysaftersuchfinalorderofrulemakinghasbeenreceivedbythecommittee.Thecommittee
943920 14mayholdoneormorehearingsuponsuchfinalorderofrulemakingduringthethirty-day
944-HCS#2HB1007 26 15period.Ifthecommitteedoesnotdisapprovesuchorderofrulemakingwithinthethirty-day
921+15period.Ifthecommitteedoesnotdisapprovesuchorderofrulemakingwithinthethirty-day
945922 16period,thedepartmentmayfilesuchorderofrulemakingwiththesecretaryofstateandthe
946923 17orderofrulemakingshallbedeemedapproved.
947924 18 5.Thecommitteemay,bymajorityvoteofthemembers,suspendtheorderof
948925 19rulemakingorportionthereofbyactiontakenpriortothefilingofthefinalorderof
949926 20rulemakingonlyforoneormoreofthefollowinggrounds:
950927 21 (1)Anabsenceofstatutoryauthorityfortheproposedrule;
951928 22 (2)Anemergencyrelatingtopublichealth,safetyorwelfare;
952929 23 (3)Theproposedruleisinconflictwithstatelaw;
953930 24 (4)Asubstantialchangeincircumstancesinceenactmentofthelawuponwhichthe
954931 25proposedruleisbased.
955932 26 6.Ifthecommitteedisapprovesanyruleorportionthereof,thedepartmentshallnot
956933 27filesuchdisapprovedportionofanyrulewiththesecretaryofstateandthesecretaryofstate
957934 28shallnotpublishintheMissouriRegisteranyfinalorderofrulemakingcontainingthe
958935 29disapprovedportion.
959936 30 7.Ifthecommitteedisapprovesanyruleorportionthereof,thecommitteeshallreport
960937 31itsfindingstothesenateandthehouseofrepresentatives.Noruleorportionthereof
961938 32disapprovedbythecommitteeshalltakeeffectsolongasthesenateandthehouseof
962939 33representativesratifytheactofthejointcommitteebyresolutionadoptedineachhouse
963940 34withinthirtylegislativedaysaftersuchruleorportionthereofhasbeendisapprovedbythe
964941 35jointcommittee.
965942 36 8.Uponadoptionofaruleasprovidedinthissection,anysuchruleorportionthereof
966943 37maybesuspendedorrevokedbythegeneralassemblyeitherbybillor,pursuanttoSection8,
967-38ArticleIVoftheConstitutionofMissouri,byconcurrentresolutionuponrecommendationof
944+HCSHB1007 26 38ArticleIVoftheConstitutionofMissouri,byconcurrentresolutionuponrecommendationof
968945 39thejointcommitteeonadministrativerules.Thecommitteeshallbeauthorizedtohold
969946 40hearingsandmakerecommendationspursuanttotheprovisionsofsection536.037.The
970947 41secretaryofstateshallpublishintheMissouriRegister,assoonaspracticable,noticeofthe
971948 42suspensionorrevocation.
972949 43 9.Undersection23.253oftheMissourisunsetact:
973950 44 (1)Theprovisionsoftheprogramauthorizedundersections135.400to135.432
974951 45shallautomaticallysunsetonAugust28,2031,unlessreauthorizedbyanactofthe
975952 46generalassembly;
976953 47 (2)Ifsuchprogramisreauthorized,theprogramauthorizedundersections
977954 48135.400to135.432shallautomaticallysunsetsixyearsaftertheeffectivedateofthe
978955 49reauthorizationofsections135.400to135.432;
979-HCS#2HB1007 27 50 (3)Sections135.400to135.432shallterminateonSeptemberfirstofthe
956+50 (3)Sections135.400to135.432shallterminateonSeptemberfirstofthe
980957 51calendaryearimmediatelyfollowingthecalendaryearinwhichtheprogramauthorized
981958 52undersections135.400to135.432issunset;and
982959 53 (4)Theprovisionsofthissubsectionshallnotbeconstruedtolimitorinanyway
983960 54impairataxpayer'sabilitytoredeemtaxcreditsauthorizedonorbeforethedatethe
984961 55programauthorizedunderthissectionexpires.
985962 135.460.1.Thissectionandsections620.1100and620.1103shallbeknownand
986963 2maybecitedasthe"YouthOpportunitiesandViolencePreventionAct".
987964 3 2.Asusedinthissection,theterm"taxpayer"shallincludecorporationsasdefinedin
988965 4section143.441or143.471,anycharitableorganizationwhichisexemptfromfederalincome
989966 5taxandwhoseMissouriunrelatedbusinesstaxableincome,ifany,wouldbesubjecttothe
990967 6stateincometaximposedunderchapter143,andindividuals,individualproprietorshipsand
991968 7partnerships.
992969 8 3.Ataxpayershallbeallowedataxcreditagainstthetaxotherwiseduepursuantto
993970 9chapter143,excludingwithholdingtaximposedbysections143.191to143.265,chapter147,
994971 10chapter148,orchapter153inanamountequaltothirtypercentforpropertycontributions
995972 11andfiftypercentformonetarycontributionsoftheamountsuchtaxpayercontributedtothe
996973 12programsdescribedinsubsection5ofthissection,nottoexceedtwohundredthousand
997974 13dollarsper[taxable] taxyear,pertaxpayer;exceptasotherwiseprovidedinsubdivision(5)of
998975 14subsection5ofthissection.Thedepartmentofeconomicdevelopmentshallprescribethe
999976 15methodforclaimingthetaxcreditsallowedinthissection.Noruleorportionofarule
1000977 16promulgatedundertheauthorityofthissectionshallbecomeeffectiveunlessithasbeen
1001978 17promulgatedpursuanttotheprovisionsofchapter536.Allrulemakingauthoritydelegated
1002979 18priortoJune27,1997,isofnoforceandeffectandrepealed;however,nothinginthissection
1003980 19shallbeinterpretedtorepealoraffectthevalidityofanyrulefiledoradoptedpriortoJune27,
1004-201997,ifsuchrulecompliedwiththeprovisionsofchapter536.Theprovisionsofthissection
981+HCSHB1007 27 201997,ifsuchrulecompliedwiththeprovisionsofchapter536.Theprovisionsofthissection
1005982 21andchapter536arenonseverableandifanyofthepowersvestedwiththegeneralassembly
1006983 22pursuanttochapter536,includingtheabilitytoreview,todelaytheeffectivedate,orto
1007984 23disapproveandannularuleorportionofarule,aresubsequentlyheldunconstitutional,then
1008985 24thepurportedgrantofrulemakingauthorityandanyrulesoproposedandcontainedinthe
1009986 25orderofrulemakingshallbeinvalidandvoid.
1010987 26 4.Thetaxcreditsallowedbythissectionshallbeclaimedbythetaxpayertooffset
1011988 27thetaxesthatbecomedueinthetaxpayer'staxperiodinwhichthecontributionwasmade.
1012989 28Anytaxcreditnotusedinsuchtaxperiodmaybecarriedoverthenextfivesucceedingtax
1013990 29periods.
1014991 30 5.Thetaxcreditallowedbythissectionmayonlybeclaimedformonetaryor
1015992 31propertycontributionstopublicorprivateprogramsauthorizedtoparticipatepursuanttothis
1016-HCS#2HB1007 28 32sectionbythedepartmentofeconomicdevelopmentandmaybeclaimedforthe
993+32sectionbythedepartmentofeconomicdevelopmentandmaybeclaimedforthe
1017994 33development,establishment,implementation,operation,andexpansionofthefollowing
1018995 34activitiesandprograms:
1019996 35 (1)Anadopt-a-schoolprogram.Componentsoftheadopt-a-schoolprogramshall
1020997 36includedonationsforschoolactivities,seminars,andfunctions;school-businessemployment
1021998 37programs;andthedonationofpropertyandequipmentofthecorporationtotheschool;
1022999 38 (2)Expansionofprogramstoencourageschooldropoutstoreenterandcompletehigh
10231000 39schoolortocompleteagraduateequivalencydegreeprogram;
10241001 40 (3)Employmentprograms.Suchprogramsshallinitially,butnotexclusively,target
10251002 41unemployedyouthlivinginpovertyandyouthlivinginareaswithahighincidenceofcrime;
10261003 42 (4)Neworexistingyouthclubsorassociations;
10271004 43 (5)Employment/internship/apprenticeshipprogramsinbusinessortradesforpersons
10281005 44lessthantwentyyearsofage,inwhichcasethetaxcreditclaimedpursuanttothissection
10291006 45shallbeequaltoone-halfoftheamountpaidtotheinternorapprenticeinthattaxyear,except
10301007 46thatsuchcreditshallnotexceedtenthousanddollarsperperson;
10311008 47 (6)Mentorandrolemodelprograms;
10321009 48 (7)Drugandalcoholabusepreventiontrainingprogramsforyouth;
10331010 49 (8)Donationofpropertyorequipmentofthetaxpayertoschools,includingschools
10341011 50whichprimarilyeducatechildrenwhohavebeenexpelledfromotherschools,ordonationof
10351012 51thesametomunicipalities,ornot-for-profitcorporationsorothernot-for-profitorganizations
10361013 52whichofferprogramsdedicatedtoyouthviolencepreventionasauthorizedbythe
10371014 53department;
10381015 54 (9)Not-for-profit,privateorpublicyouthactivitycenters;
10391016 55 (10)Nonviolentconflictresolutionandmediationprograms;
10401017 56 (11)Youthoutreachandcounselingprograms.
1041-57 6.Anyprogramauthorizedinsubsection5ofthissectionshall,atleastannually,
1018+HCSHB1007 28 57 6.Anyprogramauthorizedinsubsection5ofthissectionshall,atleastannually,
10421019 58submitareporttothedepartmentofeconomicdevelopmentoutliningthepurposeand
10431020 59objectivesofsuchprogram,thenumberofyouthserved,thespecificactivitiesprovided
10441021 60pursuanttosuchprogram,thedurationofsuchprogramandrecordedyouthattendancewhere
10451022 61applicable.
10461023 62 7.Thedepartmentofeconomicdevelopmentshall,atleastannuallysubmitareportto
10471024 63theMissourigeneralassemblylistingtheorganizationsparticipating,servicesofferedandthe
10481025 64numberofyouthservedastheresultoftheimplementationofthissection.
10491026 65 8.Thetaxcreditallowedbythissectionshallapplytoall[taxable] taxyears
10501027 66beginningafterDecember31,1995.
10511028 67 9.Forthepurposesofthecreditsdescribedinthissection,inthecaseofacorporation
10521029 68describedinsection143.471,partnership,limitedliabilitycompanydescribedinsection
1053-HCS#2HB1007 29 69347.015,cooperative,marketingenterprise,orpartnership,incomputingMissouri'stax
1030+69347.015,cooperative,marketingenterprise,orpartnership,incomputingMissouri'stax
10541031 70liability,suchcreditsshallbeallowedtothefollowing:
10551032 71 (1)Theshareholdersofthecorporationdescribedinsection143.471;
10561033 72 (2)Thepartnersofthepartnership;
10571034 73 (3)Themembersofthelimitedliabilitycompany;and
10581035 74 (4)Individualmembersofthecooperativeormarketingenterprise.
10591036 75
10601037 76Suchcreditsshallbeapportionedtotheentitiesdescribedinsubdivisions(1)and(2)ofthis
10611038 77subsectioninproportiontotheirshareofownershiponthelastdayofthetaxpayer'stax
10621039 78period.
10631040 79 10.Undersection23.253oftheMissourisunsetact:
10641041 80 (1)Theprovisionsoftheprogramauthorizedunderthissectionshall
10651042 81automaticallysunsetonAugust28,2031,unlessreauthorizedbyanactofthegeneral
10661043 82assembly;
10671044 83 (2)Ifsuchprogramisreauthorized,theprogramauthorizedunderthissection
10681045 84shallautomaticallysunsetsixyearsaftertheeffectivedateofthereauthorizationofthis
10691046 85section;
10701047 86 (3)ThissectionshallterminateonSeptemberfirstofthecalendaryear
10711048 87immediatelyfollowingthecalendaryearinwhichtheprogramauthorizedunderthis
10721049 88sectionissunset;and
10731050 89 (4)Theprovisionsofthissubsectionshallnotbeconstruedtolimitorinanyway
10741051 90impairataxpayer'sabilitytoredeemtaxcreditsauthorizedonorbeforethedatethe
10751052 91programauthorizedunderthissectionexpires.
10761053 135.487.1.Toobtainanycreditallowedpursuanttosections135.475to135.487,a
10771054 2taxpayershallsubmittothedepartment,forpreliminaryapproval,anapplicationfortax
1078-3credit.Thedirectorshall,uponfinalapprovalofanapplicationandpresentationof
1055+HCSHB1007 29 3credit.Thedirectorshall,uponfinalapprovalofanapplicationandpresentationof
10791056 4acceptableproofofsubstantialcompletionofconstruction,issuethetaxpayeracertificateof
10801057 5taxcredit.Thedirectorshallissueallcreditsallowedpursuanttosections135.475to135.487
10811058 6intheordertheapplicationsarereceived.Inthecaseofataxpayerotherthananowner-
10821059 7occupant,thedirectorshallnotdelaytheissuanceofataxcreditpursuanttosections135.475
10831060 8to135.487untilthesaleofaresidenceatmarketrateforowner-occupancy.Ataxpayer,
10841061 9[taxpayer] otherthananowner-occupantwhoreceivesacertificateoftaxcreditpursuantto
10851062 10sections135.475to135.487, shall,withinthirtydaysofthedateofthesaleofaresidence,
10861063 11furnishtothedirectorsatisfactoryproofthatsuchresidencewassoldatmarketratefor
10871064 12owner-occupancy.Ifthedirectorreasonablydeterminesthataresidencewasnotingoodfaith
10881065 13intendedforlong-termowneroccupancy,thedirectormakerevokeanytaxcreditsissuedand
10891066 14seekrecoveryofanytaxcreditsissuedpursuanttosection620.017.
1090-HCS#2HB1007 30 15 2.Thedepartmentmaycooperatewithamunicipalityoracountyinwhichaproject
1067+15 2.Thedepartmentmaycooperatewithamunicipalityoracountyinwhichaproject
10911068 16islocatedtohelpidentifythelocationoftheproject,thetypeandeligibilityoftheproject,the
10921069 17estimatedcostoftheprojectandthecompletiondateoftheproject.
10931070 18 3.Thedepartmentmaypromulgatesuchrulesorregulationsorissueadministrative
10941071 19guidelinesasarenecessarytoadministertheprovisionsofsections135.475to135.487.No
10951072 20ruleorportionofarulepromulgatedpursuanttotheauthorityofthissectionshallbecome
10961073 21effectiveunlessithasbeenpromulgatedpursuanttotheprovisionsofchapter536.
10971074 22 4.Thedepartmentshallconductannuallyacomprehensiveprogramevaluation
10981075 23illustratingwherethetaxcreditsallowedpursuanttosections135.475to135.487arebeing
10991076 24utilized,explainingtheeconomicimpactofsuchprogramandmakingrecommendationson
11001077 25appropriateprogrammodificationstoensuretheprogram'ssuccess.
11011078 26 5.Undersection23.253oftheMissourisunsetact:
11021079 27 (1)Theprovisionsoftheprogramauthorizedundersections135.475to135.487
11031080 28shallautomaticallysunsetonAugust28,2031,unlessreauthorizedbyanactofthe
11041081 29generalassembly;
11051082 30 (2)Ifsuchprogramisreauthorized,theprogramauthorizedundersections
11061083 31135.475to135.487shallautomaticallysunsetsixyearsaftertheeffectivedateofthe
11071084 32reauthorizationofsections135.475to135.487;
11081085 33 (3)Sections135.475to135.487shallterminateonSeptemberfirstofthe
11091086 34calendaryearimmediatelyfollowingthecalendaryearinwhichtheprogramauthorized
11101087 35undersections135.475to135.487issunset;and
11111088 36 (4)Theprovisionsofthissubsectionshallnotbeconstruedtolimitorinanyway
11121089 37impairataxpayer'sabilitytoredeemtaxcreditsauthorizedonorbeforethedatethe
11131090 38programauthorizedunderthissectionexpires.
1114-135.490.1.Inordertoencourageandfostercommunityimprovement,aneligible
1091+HCSHB1007 30 135.490.1.Inordertoencourageandfostercommunityimprovement,aneligible
11151092 2smallbusiness,asdefinedinSection44oftheInternalRevenueCode,shallbealloweda
11161093 3creditnottoexceedfivethousanddollarsagainstthetaxotherwiseduepursuanttochapter
11171094 4143,notincludingsections143.191to143.265,inanamountequaltofiftypercentofall
11181095 5eligibleaccessexpendituresexceedingthemonetarycapprovidedbySection44ofthe
11191096 6InternalRevenueCode.Forpurposesofthissection,"eligibleaccessexpenditures"means
11201097 7amountspaidorincurredbythetaxpayerinordertocomplywithapplicableaccess
11211098 8requirementsprovidedbytheAmericansWithDisabilitiesActof1990,asfurtherdefinedin
11221099 9Section44oftheInternalRevenueCodeandfederalrulingsinterpretingSection44ofthe
11231100 10InternalRevenueCode.
11241101 11 2.Thedepartmentofeconomicdevelopmentshallprescribethemethodfor
11251102 12submittingapplicationsforclaimingthetaxcreditallowedbythissection. Afterissuance
11261103 13ofataxcreditcertificatebythedepartmentofeconomicdevelopment,suchtaxcredit
1127-HCS#2HB1007 31 14shallbe[claimed] redeemedby[thetaxpayeratthetimesuchtaxpayerfilesa]filingacopy
1104+14shallbe[claimed] redeemedby[thetaxpayeratthetimesuchtaxpayerfilesa]filingacopy
11281105 15ofthetaxcreditcertificatewiththetaxpayer'sincometaxreturnforthetaxyearfor
11291106 16whichsuchcreditwasissued. Anyamountoftaxcreditwhichexceedsthetaxdueshallbe
11301107 17carriedovertoanysubsequent[taxable] taxyear,butshallnotberefundedandshallnotbe
11311108 18transferable.
11321109 19 3.OnandafterAugust28,2025,thedirectorofthedepartmentofeconomic
11331110 20development[andthedirectorofthedepartmentofrevenue] shall[jointly] administerthetax
11341111 21creditauthorizedbythissection.[Both] Thedirectorofthedepartmentofeconomic
11351112 22development[andthedirectorofthedepartmentofrevenueare]isauthorizedtopromulgate
11361113 23rulesandregulationsnecessarytoadministertheprovisionsofthissection.Noruleorportion
11371114 24ofarulepromulgatedpursuanttotheauthorityofthissectionshallbecomeeffectiveunlessit
11381115 25hasbeenpromulgatedpursuanttotheprovisionsofchapter536.
11391116 26 4.TheprovisionsofthissectionshallbecomeeffectiveonJanuary1,2000,andshall
11401117 27applytoall[taxable] taxyearsbeginningafterDecember31,1999.
11411118 28 5.(1)ForallfiscalyearsbeginningonorafterJuly1,2026,thecumulative
11421119 29amountoftaxcreditsissuedannuallytoalltaxpayersbythedepartmentofeconomic
11431120 30developmentunderthissectionshallnotexceedthetotalcapamount,whichshallbean
11441121 31amountequaltothehighestannualamountoftaxcreditsissuedinanyoneprevious
11451122 32fiscalyear,fromfiscalyear2023tofiscalyear2025,asdeterminedandcalculatedbythe
11461123 33department.
11471124 34 (2)Iftheamountoftaxcreditsclaimedinafiscalyearunderthissectionexceeds
11481125 35thetotalcapdeterminedundersubdivision(1)ofthissubsection,taxcreditsshallbe
11491126 36allowedbasedontheorderinwhichtheywereissued.
11501127 37 6.Undersection23.253oftheMissourisunsetact:
1151-38 (1)Theprovisionsoftheprogramauthorizedunderthissectionshall
1128+HCSHB1007 31 38 (1)Theprovisionsoftheprogramauthorizedunderthissectionshall
11521129 39automaticallysunsetonAugust28,2031,unlessreauthorizedbyanactofthegeneral
11531130 40assembly;
11541131 41 (2)Ifsuchprogramisreauthorized,theprogramauthorizedunderthissection
11551132 42shallautomaticallysunsetsixyearsaftertheeffectivedateofthereauthorizationofthis
11561133 43section;
11571134 44 (3)ThissectionshallterminateonSeptemberfirstofthecalendaryear
11581135 45immediatelyfollowingthecalendaryearinwhichtheprogramauthorizedunderthis
11591136 46sectionissunset;and
11601137 47 (4)Theprovisionsofthissubsectionshallnotbeconstruedtolimitorinanyway
11611138 48impairataxpayer'sabilitytoredeemtaxcreditsauthorizedonorbeforethedatethe
11621139 49programauthorizedunderthissectionexpires.
1163-HCS#2HB1007 32 135.530.Forthepurposesofsections[100.010,] 100.710,100.850,135.110,
1140+135.530.Forthepurposesofsections[100.010,] 100.710,100.850,135.110,
11641141 2[135.200,135.258,135.313,] 135.403,135.405,[135.503,] 135.530,[135.545,] and215.030,
11651142 3[348.300,348.302,and620.1400to620.1460,] "distressedcommunity"meanseithera
11661143 4Missourimunicipalitywithinametropolitanstatisticalareawhichhasamedianhousehold
11671144 5incomeofunderseventypercentofthemedianhouseholdincomeforthemetropolitan
11681145 6statisticalarea,accordingtotheUnitedStatesCensusBureau'sAmericanCommunitySurvey,
11691146 7basedonthemostrecentoffive-yearperiodestimatedatainwhichthefinalyearofthe
11701147 8estimateendsineitherzeroorfive,oraUnitedStatescensusblockgrouporcontiguousgroup
11711148 9ofblockgroupswithinametropolitanstatisticalareawhichhasapopulationofatleasttwo
11721149 10thousandfivehundred,andeachblockgrouphavingamedianhouseholdincomeofunder
11731150 11seventypercentofthemedianhouseholdincomeforthemetropolitanareainMissouri,
11741151 12accordingtotheUnitedStatesCensusBureau'sAmericanCommunitySurvey,basedonthe
11751152 13mostrecentoffive-yearperiodestimatedatainwhichthefinalyearoftheestimateendsin
11761153 14eitherzeroorfive.Inadditionthedefinitionshallincludemunicipalitiesnotinametropolitan
11771154 15statisticalarea,withamedianhouseholdincomeofunderseventypercentofthemedian
11781155 16householdincomeforthenonmetropolitanareasinMissouriaccordingtotheUnitedStates
11791156 17CensusBureau'sAmericanCommunitySurvey,basedonthemostrecentoffive-yearperiod
11801157 18estimatedatainwhichthefinalyearoftheestimateendsineitherzeroorfiveoracensus
11811158 19blockgrouporcontiguousgroupofblockgroupswhichhasapopulationofatleasttwo
11821159 20thousandfivehundredwitheachblockgrouphavingamedianhouseholdincomeofunder
11831160 21seventypercentofthemedianhouseholdincomeforthenonmetropolitanareasofMissouri,
11841161 22accordingtotheUnitedStatesCensusBureau'sAmericanCommunitySurvey,basedonthe
11851162 23mostrecentoffive-yearperiodestimatedatainwhichthefinalyearoftheestimateendsin
11861163 24eitherzeroorfive.Inmetropolitanstatisticalareas,thedefinitionshallincludeareasthat
11871164 25weredesignatedaseitherafederalempowermentzone;orafederalenhancedenterprise
1188-26community;orastateenterprisezonethatwasoriginallydesignatedbeforeJanuary1,1986,
1165+HCSHB1007 32 26community;orastateenterprisezonethatwasoriginallydesignatedbeforeJanuary1,1986,
11891166 27butshallnotincludeexpansionsofsuchstateenterprisezonesdoneafterMarch16,1988.
11901167 135.562.1.Ifanytaxpayerwithafederaladjustedgrossincomeofthirtythousand
11911168 2dollarsorlessincurscostsforthepurposeofmakingalloranyportionofsuchtaxpayer's
11921169 3principaldwellingaccessibletoanindividualwithadisabilitywhopermanentlyresideswith
11931170 4thetaxpayer,suchtaxpayershallreceiveataxcreditagainstsuchtaxpayer'sMissouriincome
11941171 5taxliabilityinanamountequaltothelesserofonehundredpercentofsuchcostsortwo
11951172 6thousandfivehundreddollarspertaxpayer,pertaxyear.
11961173 7 2.Anytaxpayerwithafederaladjustedgrossincomegreaterthanthirtythousand
11971174 8dollarsbutlessthansixtythousanddollarswhoincurscostsforthepurposeofmakingallor
11981175 9anyportionofsuchtaxpayer'sprincipaldwellingaccessibletoanindividualwithadisability
11991176 10whopermanentlyresideswiththetaxpayershallreceiveataxcreditagainstsuchtaxpayer's
1200-HCS#2HB1007 33 11Missouriincometaxliabilityinanamountequaltothelesseroffiftypercentofsuchcostsor
1177+11Missouriincometaxliabilityinanamountequaltothelesseroffiftypercentofsuchcostsor
12011178 12twothousandfivehundreddollarspertaxpayerpertaxyear.Notaxpayershallbeeligibleto
12021179 13receivetaxcreditsunderthissectioninanytaxyearimmediatelyfollowingataxyearin
12031180 14whichsuchtaxpayerreceivedtaxcreditsundertheprovisionsofthissection.
12041181 15 3.Taxcreditsissuedunderthissectionmayberefundableinanamountnottoexceed
12051182 16twothousandfivehundreddollarspertaxyear.
12061183 17 4.Eligiblecostsforwhichthecreditmaybeclaimedinclude:
12071184 18 (1)Constructingentranceorexitramps;
12081185 19 (2)Wideningexteriororinteriordoorways;
12091186 20 (3)Wideninghallways;
12101187 21 (4)Installinghandrailsorgrabbars;
12111188 22 (5)Movingelectricaloutletsandswitches;
12121189 23 (6)Installingstairwaylifts;
12131190 24 (7)Installingormodifyingfirealarms,smokedetectors,andotheralertingsystems;
12141191 25 (8)Modifyinghardwareofdoors;or
12151192 26 (9)Modifyingbathrooms.
12161193 27 5.Thetaxcreditsallowed,includingthemaximumamountthatmaybeclaimed,
12171194 28underthissectionshallbereducedbyanamountsufficienttooffsetanyamountofsuchcosts
12181195 29ataxpayerhasalreadydeductedfromsuchtaxpayer'sfederaladjustedgrossincomeortothe
12191196 30extentsuchtaxpayerhasappliedanyotherstateorfederalincometaxcredittosuchcosts.
12201197 31 6.[Ataxpayershallclaima]Thetaxcreditallowedbythissection[inthesametax
12211198 32yearasthecreditisissued,andatthetimesuch],afterissuanceofataxcreditcertificateby
12221199 33thedepartmentofeconomicdevelopment,shallberedeemedbyfilingacopyofthetax
12231200 34creditcertificatewhenthetaxpayerfileshisorherMissouriincometaxreturn[;] forthetax
12241201 35yearforwhichsuchcreditwasissued,providedthatsuchreturnistimelyfiled.
1225-36 7.Thedepartmentofeconomicdevelopmentmay,inconsultationwiththe
1202+HCSHB1007 33 36 7.Thedepartmentofeconomicdevelopmentmay,inconsultationwiththe
12261203 37departmentofsocialservices,promulgatesuchrulesorregulationsasarenecessaryto
12271204 38administertheprovisionsofthissection.Anyruleorportionofarule,asthattermisdefined
12281205 39insection536.010,thatiscreatedundertheauthoritydelegatedinthissectionshallbecome
12291206 40effectiveonlyifitcomplieswithandissubjecttoalloftheprovisionsofchapter536and,if
12301207 41applicable,section536.028.Thissectionandchapter536arenonseverableandifanyofthe
12311208 42powersvestedwiththegeneralassemblypursuanttochapter536toreview,todelaythe
12321209 43effectivedateortodisapproveandannularulearesubsequentlyheldunconstitutional,then
12331210 44thegrantofrulemakingauthorityandanyruleproposedoradoptedafterAugust28,2007,
12341211 45shallbeinvalidandvoid.
12351212 46 8.Theprovisionsofthissectionshallapplytoalltaxyearsbeginningonorafter
12361213 47January1,2008.
1237-HCS#2HB1007 34 48 9.TheprovisionsofthissectionshallexpireDecember31,2025,unlessreauthorized
1214+48 9.TheprovisionsofthissectionshallexpireDecember31,2025,unlessreauthorized
12381215 49bythegeneralassembly.ThissectionshallterminateonSeptemberfirstofthecalendaryear
12391216 50immediatelyfollowingthecalendaryearinwhichtheprogramauthorizedunderthissection
12401217 51issunset.Theprovisionsofthissubsectionshallnotbeconstruedtolimitorinanyway
12411218 52impairthe[department's] departmentofrevenue'sabilitytoredeemtaxcreditsauthorized
12421219 53onorbeforethedatetheprogramauthorizedunderthissectionexpiresorataxpayer'sability
12431220 54toredeemsuchtaxcredits.
12441221 55 10.Innoeventshalltheaggregateamountofalltaxcreditsallowedunderthissection
12451222 56exceedonehundredthousanddollarsinanygivenfiscalyear.Thetaxcreditsissuedpursuant
12461223 57tothissectionshallbeonafirst-come,first-servedfilingbasis.
12471224 58 11.OnandafterAugust28,2025,thedepartmentofeconomicdevelopmentshall
12481225 59administerthetaxcreditprovidedunderthissection.
12491226 135.647.1.Asusedinthissection,thefollowingtermsshallmean:
12501227 2 (1)"Department",thedepartmentofsocialservices;
12511228 3 (2)"Localfoodpantry",anyfoodpantrythatis:
12521229 4 (a)Exemptfromtaxationundersection501(c)(3)oftheInternalRevenueCodeof
12531230 51986,asamended;and
12541231 6 (b)DistributingemergencyfoodsuppliestoMissourilow-incomepeoplewhowould
12551232 7otherwisenothaveaccesstofoodsuppliesintheareainwhichthetaxpayerclaimingthetax
12561233 8creditunderthissectionresides;
12571234 9 [(2)](3)"Localhomelessshelter",anyhomelessshelterthatis:
12581235 10 (a)ExemptfromtaxationunderSection501(c)(3)oftheInternalRevenueCodeof
12591236 111986,asamended;and
12601237 12 (b)Providingtemporarylivingarrangements,intheareainwhichthetaxpayer
12611238 13claimingthetaxcreditunderthissectionresides,forindividualsandfamilieswhootherwise
1262-14lackafixed,regular,andadequatenighttimeresidenceandlacktheresourcesorsupport
1239+HCSHB1007 34 14lackafixed,regular,andadequatenighttimeresidenceandlacktheresourcesorsupport
12631240 15networkstoobtainotherpermanenthousing;
12641241 16 [(3)](4)"Localsoupkitchen",anysoupkitchenthatis:
12651242 17 (a)Exemptfromtaxationundersection501(c)(3)oftheInternalRevenueCodeof
12661243 181986,asamended;and
12671244 19 (b)Providingpreparedmealsthroughanestablishedcongregatefeedingoperationto
12681245 20needy,low-incomepersonsincluding,butnotlimitedto,homelesspersonsintheareain
12691246 21whichthetaxpayerclaimingthetaxcreditunderthissectionresides;
12701247 22 [(4)](5)"Taxpayer",anindividual,afirm,apartnerinafirm,corporation,ora
12711248 23shareholderinanScorporationdoingbusinessinthisstateandsubjecttothestateincometax
12721249 24imposedbychapter143,excludingwithholdingtaximposedbysections143.191to143.265.
1273-HCS#2HB1007 35 25 2.(1)BeginningonMarch29,2013,anydonationofcashorfoodmadetoalocal
1250+25 2.(1)BeginningonMarch29,2013,anydonationofcashorfoodmadetoalocal
12741251 26foodpantryonorafterJanuary1,2013,unlesssuchfoodisdonatedafterthefood'sexpiration
12751252 27date,shallbeeligiblefortaxcreditsasprovidedbythissection.
12761253 28 (2)BeginningonAugust28,2018,anydonationofcashorfoodmadetoalocalsoup
12771254 29kitchenorlocalhomelessshelteronorafterJanuary1,2018,unlesssuchfoodisdonatedafter
12781255 30thefood'sexpirationdate,shallbeeligibleforataxcreditasprovidedunderthissection.
12791256 31 (3)Anytaxpayerwhomakesadonationthatiseligibleforataxcreditunderthis
12801257 32sectionshallbeallowedacreditagainstthetaxotherwisedueunderchapter143,excluding
12811258 33withholdingtaximposedbysections143.191to143.265,inanamountequaltofiftypercent
12821259 34ofthevalueofthedonationsmadetotheextentsuchamountsthathavebeensubtractedfrom
12831260 35federaladjustedgrossincomeorfederaltaxableincomeareaddedbackinthedetermination
12841261 36ofMissouriadjustedgrossincomeorMissouritaxableincomebeforethecreditcanbe
12851262 37[claimed] redeemed. Eachtaxpayerclaimingataxcreditunderthissectionshallfilean
12861263 38affidavitwiththe[incometaxreturn] applicationtothedepartmentofsocialservices
12871264 39verifyingtheamountoftheircontributions.Thedepartmentshallprescribethemethod
12881265 40forsubmittingapplicationsforclaimingthetaxcreditallowedbythissection.After
12891266 41issuanceofataxcreditcertificatebythedepartment,suchtaxcreditshallberedeemed
12901267 42byfilingacopyofthetaxcreditcertificatewiththetaxpayer'sincometaxreturnforthe
12911268 43taxyearforwhichsuchcreditwasissued.Theamountofthetaxcreditclaimedshallnot
12921269 44exceedtheamountofthetaxpayer'sstatetaxliabilityforthetaxyearthatthecreditisclaimed
12931270 45andshallnotexceedtwothousandfivehundreddollarspertaxpayerclaimingthecredit.Any
12941271 46amountofcreditthatthetaxpayerisprohibitedbythissectionfromclaiminginataxyear
12951272 47shallnotberefundable,butmaybecarriedforwardtoanyofthetaxpayer'sthreesubsequent
12961273 48taxyears.Notaxcreditgrantedunderthissectionshallbetransferred,sold,orassigned.No
12971274 49taxpayershallbeeligibletoreceiveacreditpursuanttothissectionifsuchtaxpayeremploys
1298-50personswhoarenotauthorizedtoworkintheUnitedStatesunderfederallaw.Notaxpayer
1275+HCSHB1007 35 50personswhoarenotauthorizedtoworkintheUnitedStatesunderfederallaw.Notaxpayer
12991276 51shallbeabletoclaimmorethanonecreditunderthissectionforasingledonation.
13001277 52 3.Thecumulativeamountoftaxcreditsunderthissectionwhichmaybeallocatedto
13011278 53alltaxpayerscontributingtoalocalfoodpantry,localsoupkitchen,orlocalhomelessshelter
13021279 54inanyonefiscalyearshallnotexceedonemillionsevenhundredfiftythousanddollars.The
13031280 55[directorofrevenue] departmentshallestablishaprocedurebywhichthecumulative
13041281 56amountoftaxcreditsissuedisapportionedamongalltaxpayers[claiming] filingan
13051282 57applicationforthecredit[byAprilfifteenthofthe]inthatfiscalyear[inwhichthetaxcredit
13061283 58isclaimed]. Tothemaximumextentpossible,the[directorofrevenue] departmentshall
13071284 59establishtheproceduredescribedinthissubsectioninsuchamannerastoensurethat
13081285 60taxpayerscanclaimallthetaxcreditspossibleuptothecumulativeamountoftaxcredits
13091286 61availableforthefiscalyear.
1310-HCS#2HB1007 36 62 4.Anylocalfoodpantry,localsoupkitchen,orlocalhomelesssheltermayacceptor
1287+62 4.Anylocalfoodpantry,localsoupkitchen,orlocalhomelesssheltermayacceptor
13111288 63rejectanydonationoffoodmadeunderthissectionforanyreason.Forpurposesofthis
13121289 64section,anydonationsoffoodacceptedbyalocalfoodpantry,localsoupkitchen,orlocal
13131290 65homelesssheltershallbevaluedatfairmarketvalue,oratwholesalevalueifthetaxpayer
13141291 66makingthedonationoffoodisaretailgrocerystore,foodbroker,wholesaler,orrestaurant.
13151292 67 5.Thedepartmentof[revenue] socialservicesshallpromulgaterulestoimplement
13161293 68theprovisionsofthissection.Anyruleorportionofarule,asthattermisdefinedinsection
13171294 69536.010,thatiscreatedundertheauthoritydelegatedinthissectionshallbecomeeffective
13181295 70onlyifitcomplieswithandissubjecttoalloftheprovisionsofchapter536and,ifapplicable,
13191296 71section536.028.Thissectionandchapter536arenonseverableandifanyofthepowers
13201297 72vestedwiththegeneralassemblypursuanttochapter536toreview,todelaytheeffective
13211298 73date,ortodisapproveandannularulearesubsequentlyheldunconstitutional,thenthegrant
13221299 74ofrulemakingauthorityandanyruleproposedoradoptedafterAugust28,2007,shallbe
13231300 75invalidandvoid.
13241301 76 6.Undersection23.253oftheMissourisunsetact:
13251302 77 (1)TheprogramauthorizedunderthissectionshallbereauthorizedasofAugust28,
13261303 782018,andshallexpireonDecember31,2026,unlessreauthorizedbythegeneralassembly;
13271304 79and
13281305 80 (2)ThissectionshallterminateonSeptemberfirstofthecalendaryearimmediately
13291306 81followingthecalendaryearinwhichtheprogramauthorizedunderthissectionissunset;and
13301307 82 (3)Theprovisionsofthissubsectionshallnotbeconstruedtolimitorinanyway
13311308 83impairataxpayer'sabilitytoredeemtaxcreditsauthorizedonorbeforethedatetheprogram
13321309 84authorizedunderthissectionexpires.
13331310 85 7.OnandafterAugust28,2025,thedepartmentofsocialservicesshall
13341311 86administerthetaxcreditprovidedunderthissection.
1335-135.690.1.Asusedinthissection,thefollowingtermsmean:
1312+HCSHB1007 36 135.690.1.Asusedinthissection,thefollowingtermsmean:
13361313 2 (1)"Community-basedfacultypreceptor",aphysicianorphysicianassistantwhois
13371314 3licensedinMissouriandprovidespreceptorshipstoMissourimedicalstudentsorphysician
13381315 4assistantstudentswithoutdirectcompensationfortheworkofprecepting;
13391316 5 (2)"Department",theMissouridepartmentofhealthandseniorservices;
13401317 6 (3)"Division",thedivisionofprofessionalregistrationofthedepartmentof
13411318 7commerceandinsurance;
13421319 8 (4)"FederallyQualifiedHealthCenter(FQHC)",areimbursementdesignationfrom
13431320 9theBureauofPrimaryHealthCareandtheCentersforMedicareandMedicaidServicesof
13441321 10theUnitedStatesDepartmentofHealthandHumanServices;
13451322 11 (5)"Medicalstudent",anindividualenrolledinaMissourimedicalcollegeapproved
13461323 12andaccreditedasreputablebytheAmericanMedicalAssociationortheLiaisonCommittee
1347-HCS#2HB1007 37 13onMedicalEducationorenrolledinaMissouriosteopathiccollegeapprovedandaccredited
1324+13onMedicalEducationorenrolledinaMissouriosteopathiccollegeapprovedandaccredited
13481325 14asreputablebytheCommissiononOsteopathicCollegeAccreditation;
13491326 15 (6)"Medicalstudentcorepreceptorship"or"physicianassistantstudentcore
13501327 16preceptorship",apreceptorshipforamedicalstudentorphysicianassistantstudentthat
13511328 17providesaminimumofonehundredtwentyhoursofcommunity-basedinstructioninfamily
13521329 18medicine,internalmedicine,pediatrics,psychiatry,orobstetricsandgynecologyunderthe
13531330 19guidanceofacommunity-basedfacultypreceptor.Acommunity-basedfacultypreceptor
13541331 20mayaddtogethertheamountsofpreceptorshipinstructiontimeseparatelyprovidedto
13551332 21multiplestudentsindeterminingwhetherheorshehasreachedtheminimumhoursrequired
13561333 22underthissubdivision,butthetotalpreceptorshipinstructiontimeprovidedshallequalat
13571334 23leastonehundredtwentyhoursinorderforsuchpreceptortobeeligibleforthetaxcredit
13581335 24authorizedunderthissection;
13591336 25 (7)"Physicianassistantstudent",anindividualparticipatinginaMissouriphysician
13601337 26assistantprogramaccreditedbytheAccreditationReviewCommissiononEducationforthe
13611338 27PhysicianAssistantoritssuccessororganization;
13621339 28 (8)"Taxpayer",anyindividual,firm,partnerinafirm,corporation,orshareholderin
13631340 29anScorporationdoingbusinessinthisstateandsubjecttothestateincometaximposed
13641341 30underchapter143,excludingwithholdingtaximposedundersections143.191to143.265.
13651342 31 2.(1)BeginningJanuary1,2023,anycommunity-basedfacultypreceptorwho
13661343 32servesasthecommunity-basedfacultypreceptorforamedicalstudentcorepreceptorshipora
13671344 33physicianassistantstudentcorepreceptorshipshallbeallowedacreditagainstthetax
13681345 34otherwisedueunderchapter143,excludingwithholdingtaximposedundersections143.191
13691346 35to143.265,inanamountequaltoonethousanddollarsforeachpreceptorship,uptoa
13701347 36maximumofthreethousanddollarspertaxyear,ifheorshecompletesuptothree
1371-37preceptorshiprotationsduringthetaxyearanddidnotreceiveanydirectcompensationfor
1348+HCSHB1007 37 37preceptorshiprotationsduringthetaxyearanddidnotreceiveanydirectcompensationfor
13721349 38thepreceptorships.
13731350 39 (2)Toreceivethecreditallowedbythissection,acommunity-basedfacultypreceptor
13741351 40shallclaimsuchcreditonhisorherreturnforthetaxyearinwhichheorshecompletesthe
13751352 41preceptorshiprotationsandshallsubmitsupportingdocumentationasprescribedbythe
13761353 42divisionandthedepartment.
13771354 43 (3)Innoeventshallthetotalamountofataxcreditauthorizedunderthissection
13781355 44exceedataxpayer'sincometaxliabilityforthetaxyearforwhichsuchcreditisclaimed.No
13791356 45taxcreditauthorizedunderthissectionshallbeallowedataxpayeragainsthisorhertax
13801357 46liabilityforanypriororsucceedingtaxyear.
13811358 47 (4)Nomorethantwohundredpreceptorshiptaxcreditsshallbeauthorizedunderthis
13821359 48sectionforanyonecalendaryear.Thetaxcreditsshallbeawardedonafirst-come,first-
13831360 49servedbasis.Thedivisionandthedepartmentshalljointlypromulgaterulesfordetermining
1384-HCS#2HB1007 38 50themannerinwhichtaxpayerswhohaveobtainedcertificationunderthissectionareableto
1361+50themannerinwhichtaxpayerswhohaveobtainedcertificationunderthissectionareableto
13851362 51claimthetaxcredit.Thecumulativeamountoftaxcreditsawardedunderthissectionshall
13861363 52notexceedtwohundredthousanddollarsperyear.
13871364 53 (5)Notwithstandingtheprovisionsofsubdivision(4)ofthissubsection,the
13881365 54departmentisauthorizedtoexceedthetwohundredthousanddollarsperyeartaxcredit
13891366 55programcapinanyamountnottoexceedtheamountoffundsremaininginthemedical
13901367 56preceptorfund,asestablishedundersubsection3ofthissection,asoftheendofthemost
13911368 57recenttaxyear,afteranyrequiredtransferstothegeneralrevenuefundhavetakenplacein
13921369 58accordancewiththeprovisionsofsubsection3ofthissection.
13931370 59 3.(1)Fundingforthetaxcreditprogramauthorizedunderthissectionshallbe
13941371 60generatedbythedivisionfromalicensefeeincreaseofsevendollarsperlicensefor
13951372 61physiciansandsurgeonsandfromalicensefeeincreaseofthreedollarsperlicensefor
13961373 62physicianassistants.ThelicensefeeincreasesshalltakeeffectbeginningJanuary1,2023,
13971374 63basedontheunderlyinglicensefeeratesprevailingonthatdate.Theunderlyinglicensefee
13981375 64ratesshallbedeterminedundersection334.090andallotherapplicableprovisionsofchapter
13991376 65334.
14001377 66 (2)(a)Thereisherebycreatedinthestatetreasurythe"MedicalPreceptorFund",
14011378 67whichshallconsistofmoneyscollectedunderthissubsection.Thestatetreasurershallbe
14021379 68custodianofthefund.Inaccordancewithsections30.170and30.180,thestatetreasurermay
14031380 69approvedisbursements.Thefundshallbeadedicatedfundand,uponappropriation,moneys
14041381 70inthefundshallbeusedsolelybythedepartmentandthedivisionfortheadministrationof
14051382 71thetaxcreditprogramauthorizedunderthissection.Notwithstandingtheprovisionsof
14061383 72section33.080tothecontrary,anymoneysremaininginthefundattheendofthebiennium
14071384 73shallnotreverttothecreditofthegeneralrevenuefund.Thestatetreasurershallinvest
1408-74moneysinthemedicalpreceptorfundinthesamemannerasotherfundsareinvested.Any
1385+HCSHB1007 38 74moneysinthemedicalpreceptorfundinthesamemannerasotherfundsareinvested.Any
14091386 75interestandmoneysearnedonsuchinvestmentsshallbecreditedtothefund.
14101387 76 (b)Notwithstandinganyprovisionofthischapteroranyotherprovisionoflawtothe
14111388 77contrary,allrevenuefromthelicensefeeincreasesdescribedundersubdivision(1)ofthis
14121389 78subsectionshallbedepositedinthemedicalpreceptorfund.Aftertheendofeverytaxyear,
14131390 79anamountequaltothetotaldollaramountofalltaxcreditsclaimedunderthissectionshallbe
14141391 80transferredfromthemedicalpreceptorfundtothestate'sgeneralrevenuefundestablished
14151392 81undersection33.543.Anyexcessmoneysinthemedicalpreceptorfundshallremaininthe
14161393 82fundandshallnotbetransferredtothegeneralrevenuefund.
14171394 83 4.(1)Thedepartmentshalladministerthetaxcreditprogramauthorizedunderthis
14181395 84section.Eachtaxpayerclaimingataxcreditunderthissectionshallfileanapplicationwith
14191396 85thedepartmentverifyingthenumberofhoursofinstructionandtheamountofthetaxcredit
14201397 86claimed.Thehoursclaimedontheapplicationshallbeverifiedbythecollegeoruniversity
1421-HCS#2HB1007 39 87departmentheadortheprogramdirectorontheapplication.Thecertificationbythe
1398+87departmentheadortheprogramdirectorontheapplication.Thecertificationbythe
14221399 88departmentaffirmingthetaxpayer'seligibilityforthetaxcreditprovidedtothetaxpayershall
14231400 89befiledwiththetaxpayer'sincometaxreturn.
14241401 90 (2)Noamountofanytaxcreditallowedunderthissectionshallberefundable.No
14251402 91taxcreditallowedunderthissectionshallbetransferred,sold,orassigned.Notaxpayershall
14261403 92beeligibletoreceivethetaxcreditauthorizedunderthissectionifsuchtaxpayeremploys
14271404 93personswhoarenotauthorizedtoworkintheUnitedStatesunderfederallaw.
14281405 94 5.Thedepartmentofcommerceandinsuranceandthedepartmentofhealthand
14291406 95seniorservicesshalljointlypromulgaterulestoimplementtheprovisionsofthissection.Any
14301407 96ruleorportionofarule,asthattermisdefinedinsection536.010,thatiscreatedunderthe
14311408 97authoritydelegatedinthissectionshallbecomeeffectiveonlyifitcomplieswithandis
14321409 98subjecttoalloftheprovisionsofchapter536and,ifapplicable,section536.028.Thissection
14331410 99andchapter536arenonseverableandifanyofthepowersvestedwiththegeneralassembly
14341411 100pursuanttochapter536toreview,todelaytheeffectivedate,ortodisapproveandannula
14351412 101rulearesubsequentlyheldunconstitutional,thenthegrantofrulemakingauthorityandany
14361413 102ruleproposedoradoptedafterAugust28,2022,shallbeinvalidandvoid.
14371414 103 6.Undersection23.253oftheMissourisunsetact:
14381415 104 (1)Theprovisionsoftheprogramauthorizedunderthissectionshall
14391416 105automaticallysunsetonAugust28,2031,unlessreauthorizedbyanactofthegeneral
14401417 106assembly;
14411418 107 (2)Ifsuchprogramisreauthorized,theprogramauthorizedunderthissection
14421419 108shallautomaticallysunsetsixyearsaftertheeffectivedateofthereauthorizationofthis
14431420 109section;
1444-110 (3)ThissectionshallterminateonSeptemberfirstofthecalendaryear
1421+HCSHB1007 39 110 (3)ThissectionshallterminateonSeptemberfirstofthecalendaryear
14451422 111immediatelyfollowingthecalendaryearinwhichtheprogramauthorizedunderthis
14461423 112sectionissunset;and
14471424 113 (4)Theprovisionsofthissubsectionshallnotbeconstruedtolimitorinanyway
14481425 114impairataxpayer'sabilitytoredeemtaxcreditsauthorizedonorbeforethedatethe
14491426 115programauthorizedunderthissectionexpires.
1427+135.719.1.Thestatetreasurerandthedepartmentofrevenuemaypromulgaterules
1428+2toimplementtheprovisionsofsections135.712to135.719.Anyruleorportionofarule,as
1429+3thattermisdefinedinsection536.010,thatiscreatedundertheauthoritydelegatedinthis
1430+4sectionshallbecomeeffectiveonlyifitcomplieswithandissubjecttoalloftheprovisionsof
1431+5chapter536and,ifapplicable,section536.028.Thissectionandchapter536are
1432+6nonseverableandifanyofthepowersvestedwiththegeneralassemblypursuanttochapter
1433+7536toreview,todelaytheeffectivedate,ortodisapproveandannularulearesubsequently
1434+8heldunconstitutional,thenthegrantofrulemakingauthorityandanyruleproposedor
1435+9adoptedafterAugust28,2021,shallbeinvalidandvoid.
1436+10 2.[Theprovisionsof]Undersection23.253oftheMissourisunsetact[shallnot
1437+11applyto]:
1438+12 (1)Theprovisionsoftheprogramauthorizedundersections135.712to135.719
1439+13shallautomaticallysunsetonAugust28,2031,unlessreauthorizedbyanactofthe
1440+14generalassembly;
1441+15 (2)Ifsuchprogramisreauthorized,theprogramauthorizedundersections
1442+16135.712to135.719shallautomaticallysunsetsixyearsaftertheeffectivedateofthe
1443+17reauthorizationofsections135.712to135.719;
1444+18 (3)ThissectionshallterminateonSeptemberfirstofthecalendaryear
1445+19immediatelyfollowingthecalendaryearinwhichtheprogramauthorizedunder
1446+20sections135.712to135.719issunset;and
1447+21 (4)Theprovisionsofthissubsectionshallnotbeconstruedtolimitorinanyway
1448+22impairataxpayer'sabilitytoredeemtaxcreditsauthorizedonorbeforethedatethe
1449+23programauthorizedunderthissectionexpires.
14501450 135.750.1.Thissectionshallbeknownandmaybereferredtoasthe"ShowMO
14511451 2Act".
14521452 3 2.Asusedinthissection,thefollowingtermsmean:
14531453 4 (1)"Above-the-lineindividual",anyindividualhiredorcreditedonscreenfora
14541454 5qualifiedmotionmediaproductionprojectasanytypeofproducer,principalcastthatisata
14551455 6ScreenActorsGuildScheduleFandabovepaymentrate,screenwriter,andthedirector;
14561456 7 (2)"Qualifiedmotionmediaproductionproject",anyfilmorseriesproduction,
14571457 8includingvideos,commercials,videogames,webisodes,musicvideos,content-basedmobile
1458-HCS#2HB1007 40 9applications,virtualreality,augmentedreality,multi-media,andnewmedia,aswellas
1458+HCSHB1007 40 9applications,virtualreality,augmentedreality,multi-media,andnewmedia,aswellas
14591459 10standalonevisualeffectsandpostproductionforsuchmotionmediaproductionproject,as
14601460 11approvedbythedepartmentofeconomicdevelopmentandtheofficeoftheMissourifilm
14611461 12commission,thatfeaturesastatementandlogodesignatedbythedepartmentofeconomic
14621462 13developmentinthecreditsofthecompletedproductionindicatingthattheprojectwasfilmed
14631463 14inMissouriandthatisunderthirtyminutesinlengthwithexpectedqualifyingexpensesin
14641464 15excessoffiftythousanddollarsorisoverthirtyminutesinlengthwithexpectedqualifying
14651465 16expensesinexcessofonehundredthousanddollars.Regardlessoftheproductioncosts,
14661466 17qualifiedmotionmediaprojectshallnotincludeany:
14671467 18 (a)Newsorcurrenteventsprogramming;
14681468 19 (b)Talkshow;
14691469 20 (c)Productionproducedprimarilyforindustrial,corporate,orinstitutionalpurposes,
14701470 21andforinternaluse;
14711471 22 (d)Sportseventorsportsprogram;
14721472 23 (e)Galapresentationorawardsshow;
14731473 24 (f)Infomercialoranyproductionthatdirectlysolicitsfunds;
14741474 25 (g)Politicalad;
14751475 26 (h)Productionthatisconsideredobscene,asdefinedinsection573.010;
14761476 27 (3)"Qualifyingexpenses",thesumofthetotalamountspentinthisstateforthe
14771477 28followingbyaproductioncompanyinconnectionwithaqualifiedmotionmediaproduction
14781478 29project:
14791479 30 (a)Goodsandservicesleasedorpurchasedbytheproductioncompany.Forgoods
14801480 31withapurchasepriceoftwenty-fivethousanddollarsormore,theamountincludedin
14811481 32qualifyingexpensesshallbethepurchasepricelessthefairmarketvalueofthegoodsatthe
14821482 33timetheproductioniscompleted;
14831483 34 (b)Compensationandwagespaidbytheproductioncompanyonwhichthe
14841484 35productioncompanyremittedwithholdingpaymentstothedepartmentofrevenueunder
14851485 36chapter143.Forpurposesofthissection,compensationandwagespaidtoallabove-the-line
14861486 37individualsshallbelimitedtotwenty-fivepercentoftheoverallqualifyingexpenses;
14871487 38 (4)"Taxcredit",acreditagainstthetaxotherwisedueunderchapter143,excluding
14881488 39withholdingtaximposedbysections143.191to143.265,orotherwisedueunderchapter148;
14891489 40 (5)"Taxpayer",anyindividual,partnership,orcorporationasdescribedinsection
14901490 41143.441,143.471,orsection148.370thatissubjecttothetaximposedinchapter143,
14911491 42excludingwithholdingtaximposedbysections143.191to143.265,orthetaximposedin
14921492 43chapter148oranycharitableorganizationwhichisexemptfromfederalincometaxand
14931493 44whoseMissouriunrelatedbusinesstaxableincome,ifany,wouldbesubjecttothestate
14941494 45incometaximposedunderchapter143.
1495-HCS#2HB1007 41 46 3.(1)ForalltaxyearsbeginningonorafterJanuary1,2023,ataxpayershallbe
1495+HCSHB1007 41 46 3.(1)ForalltaxyearsbeginningonorafterJanuary1,2023,ataxpayershallbe
14961496 47allowedataxcreditequaltotwentypercentofqualifyingexpenses.
14971497 48 (2)Anadditionalfivepercentmaybeearnedforqualifyingexpensesifatleastfifty
14981498 49percentofthequalifiedmotionmediaproductionprojectisfilmedinMissouri.
14991499 50 (3)Anadditionalfivepercentmaybeearnedforqualifyingexpensesifatleastfifteen
15001500 51percentofthequalifiedmotionmediaproductionprojectthatisfilmedinMissouritakesplace
15011501 52inaruralorblightedareainMissouri.
15021502 53 (4)Anadditionalfivepercentmaybeearnedforqualifyingexpensesifatleastthree
15031503 54departmentsofthequalifiedmotionmediaproductionhireaMissouriresidentreadyto
15041504 55advancetothenextlevelinaspecializedcraftpositionorlearnanewskillset.
15051505 56 (5)Anadditionalfivepercentmaybeearnedforqualifyingexpensesifthe
15061506 57departmentofeconomicdevelopmentdeterminesthatthescriptofthequalifiedmotionmedia
15071507 58productionprojectpositivelymarketsacityorregionofthestate,theentirestate,oratourist
15081508 59attractionlocatedinthestate,andthequalifiedmotionmediaproductionprovidesnoless
15091509 60thanfivehighresolutionphotographscontainingcastwiththerightsclearedforpromotional
15101510 61usebytheMissourifilmcommission,accompaniedbyalistwiththetitleofproduction,
15111511 62location,names,andtitlesoftheindividualsshowninthephotographyandphotographer
15121512 63credit.
15131513 64 (6)Thetotaldollaramountoftaxcreditsauthorizedpursuanttosubdivision(1)of
15141514 65thissubsectionshallbeincreasedbytenpercentforqualifiedfilmproductionprojectslocated
15151515 66inacountyofthesecond,third,orfourthclass.
15161516 67 (7)Activitiesqualifyingataxpayerforthetaxcreditpursuanttothissubsectionshall
15171517 68beapprovedbytheofficeoftheMissourifilmcommissionandthedepartmentofeconomic
15181518 69development.
15191519 70 4.Aqualifiedmotionmediaproductionprojectshallnotbeeligiblefortaxcredits
15201520 71pursuanttothissectionunlesssuchprojectemploysatleastthefollowingnumberofMissouri
15211521 72registeredapprenticesorveteransresidinginMissouriwithtransferableskills:
15221522 73 (1)Ifthequalifyingexpensesarelessthanfivemilliondollars,two;
15231523 74 (2)Ifthequalifyingexpensesareatleastfivemilliondollarsbutlessthantenmillion
15241524 75dollars,three;
15251525 76 (3)Ifthequalifyingexpensesareatleasttenmilliondollarsbutlessthanfifteen
15261526 77milliondollars,six;or
15271527 78 (4)Ifthequalifyingexpensesareatleastfifteenmilliondollars,eight.
15281528 79 5.Taxpayersshallapplyforthemotionmediaproductiontaxcreditbysubmittingan
15291529 80applicationtothedepartmentofeconomicdevelopment,onaformprovidedbythe
15301530 81department.Aspartoftheapplication,theexpectedqualifyingexpensesofthequalified
15311531 82motionmediaproductionprojectshallbedocumented.Inaddition,theapplicationshall
1532-HCS#2HB1007 42 83includeaneconomicimpactstatement,showingtheeconomicimpactfromtheactivitiesof
1532+HCSHB1007 42 83includeaneconomicimpactstatement,showingtheeconomicimpactfromtheactivitiesof
15331533 84thequalifiedmotionmediaproductionproject.Sucheconomicimpactstatementshall
15341534 85indicatetheimpactontheregionofthestateinwhichthequalifiedmotionmediaproduction
15351535 86orproduction-relatedactivitiesarelocatedandonthestateasawhole.Finalapplications
15361536 87shallbeaccompaniedbyareportbyacertifiedpublicaccountantlicensedbythestateof
15371537 88Missouri,preparedattheexpenseoftheapplicant,attestingthattheamountsinthefinal
15381538 89applicationarequalifyingexpenses.
15391539 90 6.ForalltaxyearsbeginningonorafterJanuary1,2023,thetotalamountoftax
15401540 91creditsauthorizedbythissectionforfilmproductionshallnotexceedatotalofeightmillion
15411541 92dollarsperyear,andthetotalamountofalltaxcreditsauthorizedbythissectionforseries
15421542 93productionshallnotexceedatotalofeightmilliondollarsperyear.Taxpayersmaycarry
15431543 94forwardunusedcreditsforuptofivetaxperiods,providedallsuchcreditsshallbeclaimed
15441544 95withintentaxperiodsfollowingthetaxperiodinwhichthequalifiedmotionmedia
15451545 96productionorproduction-relatedactivitiesforwhichthecreditsarecertifiedbythe
15461546 97departmentoccurred.
15471547 98 7.Notwithstandinganyprovisionoflawtothecontrary,anytaxpayermaysell,
15481548 99assign,exchange,conveyorotherwisetransfertaxcreditsallowedinsubsection3ofthis
15491549 100section.Thetaxpayeracquiringthetaxcreditsmayusetheacquiredcreditstooffsetthetax
15501550 101liabilitiesotherwiseimposedbychapter143,excludingwithholdingtaximposedbysections
15511551 102143.191to143.265,orchapter148.Unusedacquiredcreditsmaybecarriedforwardforupto
15521552 103fivetaxperiods,providedallsuchcreditsshallbeclaimedwithintentaxperiodsfollowing
15531553 104thetaxperiodinwhichthequalifiedmotionmediaproductionorproduction-relatedactivities
15541554 105forwhichthecreditsarecertifiedbythedepartmentoccurred.
15551555 106 8.Thetaxcreditauthorizedbythissectionshallbeconsideredabusinessrecruitment
15561556 107taxcredit,asdefinedinsection135.800,andshallbesubjecttotheprovisionsofsections
15571557 108135.800to135.830.
15581558 109 9.Thedepartmentofeconomicdevelopmentmayadoptsuchrules,statementsof
15591559 110policy,procedures,forms,andguidelinesasmaybenecessarytoimplementtheprovisionsof
15601560 111thissection.Anyruleorportionofarule,asthattermisdefinedinsection536.010,thatis
15611561 112createdundertheauthoritydelegatedinthissectionshallbecomeeffectiveonlyifitcomplies
15621562 113withandissubjecttoalloftheprovisionsofchapter536and,ifapplicable,section536.028.
15631563 114Thissectionandchapter536arenonseverableandifanyofthepowersvestedwiththe
15641564 115generalassemblypursuanttochapter536toreview,todelaytheeffectivedate,orto
15651565 116disapproveandannularulearesubsequentlyheldunconstitutional,thenthegrantof
15661566 117rulemakingauthorityandanyruleproposedoradoptedafterAugust28,2023,shallbeinvalid
15671567 118andvoid.
15681568 119 10.Undersection23.253oftheMissourisunsetact:
1569-HCS#2HB1007 43 120 (1)Theprovisionsoftheprogramauthorizedunderthissectionshallautomatically
1569+HCSHB1007 43 120 (1)Theprovisionsoftheprogramauthorizedunderthissectionshallautomatically
15701570 121sunsetonDecember31,2029,unlessreauthorizedbyanactofthegeneralassembly;and
15711571 122 (2)Ifsuchprogramisreauthorized,theprogramauthorizedunderthissectionshall
15721572 123automaticallysunsetonDecemberthirty-first,twelveyearsaftertheeffectivedateofthe
15731573 124reauthorizationofthissection;and
15741574 125 (3)ThissectionshallterminateonSeptemberfirstofthecalendaryearimmediately
15751575 126followingthecalendaryearinwhichtheprogramauthorizedunderthissectionissunset;and
15761576 127 (4)Theprovisionsofthissubsectionshallnotbeconstruedtolimitorinanyway
15771577 128impairthedepartment'sabilitytoredeemtaxcreditsauthorizedonorbeforethedatethe
15781578 129programauthorizedpursuanttothissectionexpires,orataxpayer'sabilitytoredeemsuchtax
15791579 130credits.
15801580 131 11.(1)Notwithstandingtheprovisionsofsubsection10ofthissectiontothe
15811581 132contrary,theprovisionsofthissectionshallautomaticallyterminateandexpireoneyearafter
15821582 133thedepartmentofeconomicdevelopmentdeterminesthatallotherstateandlocal
15831583 134governmentsintheUnitedStatesofAmericahaveterminatedorletlapsetheirtaxcredit
15841584 135orothergovernmentalincentiveprogramforthefilmproductionindustry,regardlessof
15851585 136whethersuchcreditsorprogramsarenowineffectorfirstcommenceafterAugust28,2023.
15861586 137Thedepartmentofeconomicdevelopmentshallnotifytherevisorofstatutesuponthe
15871587 138department'sdeterminationthatthetaxcreditauthorizedbythissectionshallterminate
15881588 139pursuanttothissubsection.
15891589 140 (2)Theprovisionsofthissubsectionshallnotbeconstruedtolimitorinanyway
15901590 141impairtheabilityofanytaxpayerthathasmettherequirementsinthissectionpriortothe
15911591 142terminationofthissectiontoparticipateintheprogramauthorizedunderthissection.The
15921592 143provisionsofthissectionshallnotbeconstruedtolimitorinanywayimpairthedepartment
15931593 144ofrevenue'sabilitytoredeemtaxcreditsqualifiedforonorbeforethedatetheprogram
15941594 145authorizedpursuanttothissectionexpires.
15951595 146 12.Thetaxcreditsauthorizedunderthissectionshallnotbesubjectto
15961596 147appropriations,asprovidedundersubsection4ofsection135.835.
15971597 135.772.1.Forthepurposesofthissection,thefollowingtermsshallmean:
15981598 2 (1)"Department",theMissouridepartmentof[revenue] agriculture;
15991599 3 (2)"Distributor",aperson,firm,orcorporationdoingbusinessinthisstatethat:
16001600 4 (a)Produces,refines,blends,compounds,ormanufacturesmotorfuel;
16011601 5 (b)Importsmotorfuelintothestate;or
16021602 6 (c)Isengagedindistributionofmotorfuel;
16031603 7 (3)"Higherethanolblend",afuelcapableofbeingdispenseddirectlyintomotor
16041604 8vehiclefueltanksforconsumptionthatiscomprisedofatleastfifteenpercentbutnotmore
16051605 9thaneighty-fivepercentethanol;
1606-HCS#2HB1007 44 10 (4)"Retaildealer",aperson,firm,orcorporationdoingbusinessinthisstatethat
1606+HCSHB1007 44 10 (4)"Retaildealer",aperson,firm,orcorporationdoingbusinessinthisstatethat
16071607 11ownsoroperatesaretailservicestationinthisstate;
16081608 12 (5)"Retailservicestation",alocationinthisstatefromwhichhigherethanolblendis
16091609 13soldtothegeneralpublicandisdispenseddirectlyintomotorvehiclefueltanksfor
16101610 14consumption.
16111611 15 2.ForalltaxyearsbeginningonorafterJanuary1,2023,aretaildealerthatsells
16121612 16higherethanolblendatsuchretaildealer'sretailservicestationoradistributorthatsells
16131613 17higherethanolblenddirectlytothefinaluserlocatedinthisstateshallbeallowedataxcredit
16141614 18tobetakenagainsttheretaildealer'sordistributor'sstateincometaxliability.Theamountof
16151615 19thecreditshallequalfivecentspergallonofhigherethanolblendsoldbytheretaildealerand
16161616 20dispensedthroughmeteredpumpsattheretaildealer'sretailservicestationorbyadistributor
16171617 21directlytothefinaluserlocatedinthisstateduringthetaxyearforwhichthetaxcreditis
16181618 22claimed.ForanyretaildealerordistributorwithataxyearbeginningpriortoJanuary1,
16191619 232023,butendingduringthe2023calendaryear,suchretaildealerordistributorshallbe
16201620 24allowedataxcreditfortheamountofhigherethanolblendsoldduringtheportionofsuchtax
16211621 25yearthatoccursduringthe2023calendaryear.Taxcreditsauthorizedpursuanttothissection
16221622 26shallnotbetransferred,sold,orassigned.Iftheamountofthetaxcreditexceedsthe
16231623 27taxpayer'sstatetaxliability,thedifferenceshallnotberefundablebutmaybecarriedforward
16241624 28toanyofthefivesubsequenttaxyears.Thetotalamountoftaxcreditsissuedpursuanttothis
16251625 29sectionforanygivenfiscalyearshallnotexceedfivemilliondollars.
16261626 30 3.Intheeventthetotalamountoftaxcreditsclaimedunderthissectionexceedsthe
16271627 31amountofavailabletaxcredits,thetaxcreditsshallbeapportionedamongalleligibleretail
16281628 32dealersanddistributorsclaimingataxcreditbyAprilfifteenth,orasdirectedbysection
16291629 33143.851,ofthefiscalyearinwhichthetaxcreditisclaimed.
16301630 34 4.Thedepartmentshallprescribethemethodforsubmittingapplicationsfor
16311631 35claimingthetaxcreditallowedbythissection[shallbeclaimedbysuchtaxpayeratthetime
16321632 36suchtaxpayerfilesareturnand]. Afterissuanceofataxcreditcertificatebythe
16331633 37department,suchtaxcreditshallberedeemedbyfilingacopyofthetaxcredit
16341634 38certificatewiththetaxpayer'sincometaxreturnforthetaxyearforwhichsuchcredit
16351635 39wasissued.Suchtaxcreditshallbeappliedagainsttheincometaxliabilityimposedby
16361636 40chapter143,excludingthewithholdingtaximposedbysections143.191to143.265,after
16371637 41reductionforallothercreditsallowedthereon.Thedepartmentmayrequireany
16381638 42documentationitdeemsnecessarytoimplementtheprovisionsofthissection.
16391639 43 5.Thedepartmentofagricultureshallpromulgaterulestoimplementtheprovisions
16401640 44ofthissection.Anyruleorportionofarule,asthattermisdefinedinsection536.010,thatis
16411641 45createdundertheauthoritydelegatedinthissectionshallbecomeeffectiveonlyifitcomplies
16421642 46withandissubjecttoalloftheprovisionsofchapter536and,ifapplicable,section536.028.
1643-HCS#2HB1007 45 47Thissectionandchapter536arenonseverableandifanyofthepowersvestedwiththe
1643+HCSHB1007 45 47Thissectionandchapter536arenonseverableandifanyofthepowersvestedwiththe
16441644 48generalassemblypursuanttochapter536toreview,todelaytheeffectivedate,orto
16451645 49disapproveandannularulearesubsequentlyheldunconstitutional,thenthegrantof
16461646 50rulemakingauthorityandanyruleproposedoradoptedafterJanuary2,2023,shallbeinvalid
16471647 51andvoid.
16481648 52 6.Undersection23.253oftheMissourisunsetact:
16491649 53 (1)TheprovisionsofthissectionshallautomaticallysunsetonDecember31,2028,
16501650 54unlessreauthorizedbyanactofthegeneralassembly;and
16511651 55 (2)Ifsuchprogramisreauthorized,theprogramauthorizedunderthissectionshall
16521652 56automaticallysunsettwelveyearsaftertheeffectivedateofthereauthorizationofthissection;
16531653 57and
16541654 58 (3)ThissectionshallterminateonSeptemberfirstofthecalendaryearimmediately
16551655 59followingthecalendaryearinwhichtheprogramauthorizedunderthissectionissunset.
16561656 60 7.OnandafterAugust28,2025,thedepartmentofagricultureshalladminister
16571657 61thetaxcreditprovidedunderthissection.
16581658 135.775.1.Asusedinthissection,thefollowingtermsmean:
16591659 2 (1)"Biodieselblend",ablendofdieselfuelandbiodieselfuelofatleastfivepercent
16601660 3andnotmorethantwentypercentforon-roadandoff-roaddiesel-fueledvehicleuse;
16611661 4 (2)"Biodieselfuel",arenewable,biodegradable,monoalkylestercombustibleliquid
16621662 5fuelthatisderivedfromagriculturalandotherplantoilsoranimalfatsandthatmeetsthe
16631663 6mostrecentversionoftheASTMInternationalD6751StandardSpecificationforBiodiesel
16641664 7FuelBlendStock.Afuelshallbedeemedtobebiodieselfuelifthefuelconsistsofapure
16651665 8B100orB99ratio.Biodieselproducedfrompalmoilisnotbiodieselfuelforthepurposesof
16661666 9thissectionunlessthepalmoiliscontainedwithinwasteoilandgreasecollectedwithinthe
16671667 10UnitedStates;
16681668 11 (3)"B99",ablendofninety-ninepercentbiodieselfuelthatmeetsthemostrecent
16691669 12versionoftheASTMInternationalD6751StandardSpecificationforBiodieselFuelBlend
16701670 13Stockwithaminimumofone-tenthofonepercentandmaximumofonepercentdieselfuel
16711671 14thatmeetsthemostrecentversionoftheASTMInternationalD975StandardSpecification
16721672 15forDieselFuel;
16731673 16 (4)"Department",theMissouridepartmentof[revenue] agriculture;
16741674 17 (5)"Distributor",aperson,firm,orcorporationdoingbusinessinthisstatethat:
16751675 18 (a)Produces,refines,blends,compounds,ormanufacturesmotorfuel;
16761676 19 (b)Importsmotorfuelintothestate;or
16771677 20 (c)Isengagedindistributionofmotorfuel;
16781678 21 (6)"Retaildealer",aperson,firm,orcorporationdoingbusinessinthisstatethat
16791679 22ownsoroperatesaretailservicestationinthisstate;
1680-HCS#2HB1007 46 23 (7)"Retailservicestation",alocationinthisstatefromwhichbiodieselblendissold
1680+HCSHB1007 46 23 (7)"Retailservicestation",alocationinthisstatefromwhichbiodieselblendissold
16811681 24tothegeneralpublicandisdispenseddirectlyintomotorvehiclefueltanksforconsumption
16821682 25atretail.
16831683 26 2.ForalltaxyearsbeginningonorafterJanuary1,2023,aretaildealerthatsellsa
16841684 27biodieselblendataretailservicestationoradistributorthatsellsabiodieselblenddirectlyto
16851685 28thefinaluserlocatedinthisstateshallbeallowedataxcredittobetakenagainsttheretail
16861686 29dealerordistributor'sstateincometaxliability.Foranyretaildealerordistributorwithatax
16871687 30yearbeginningpriortoJanuary1,2023,butendingduringthe2023calendaryear,suchretail
16881688 31dealerordistributorshallbeallowedataxcreditfortheamountofbiodieselblendsoldduring
16891689 32theportionofsuchtaxyearthatoccursduringthe2023calendaryear.Theamountofthe
16901690 33creditshallbeequalto:
16911691 34 (1)Twocentspergallonofbiodieselblendofatleastfivepercentbutnotmorethan
16921692 35tenpercentsoldbytheretaildealerataretailservicestationorbyadistributordirectlytothe
16931693 36finaluserlocatedinthisstateduringthetaxyearforwhichthetaxcreditisclaimed;and
16941694 37 (2)Fivecentspergallonofbiodieselblendinexcessoftenpercentbutnotmorethan
16951695 38twentypercentsoldbytheretaildealerataretailservicestationorbyadistributordirectlyto
16961696 39thefinaluserlocatedinthisstateduringthetaxyearforwhichthetaxcreditisclaimed.
16971697 40 3.Taxcreditsauthorizedunderthissectionshallnotbetransferred,sold,orassigned.
16981698 41Iftheamountofthetaxcreditexceedsthetaxpayer'sstatetaxliability,thedifferenceshallbe
16991699 42refundable.Thetotalamountoftaxcreditsissuedunderthissectionforanygivenfiscalyear
17001700 43shallnotexceedsixteenmilliondollars.
17011701 44 4.Intheeventthetotalamountoftaxcreditsclaimedunderthissectionexceedsthe
17021702 45amountofavailabletaxcredits,thetaxcreditsshallbeapportionedamongalleligibleretail
17031703 46dealersanddistributorsclaimingataxcreditbyAprilfifteenth,orasdirectedbysection
17041704 47143.851,ofthefiscalyearinwhichthetaxcreditisclaimed.
17051705 48 5.Thedepartmentshallprescribethemethodforsubmittingapplicationsfor
17061706 49claimingthetaxcreditallowedbythissection[shallbeclaimedbysuchtaxpayeratthetime
17071707 50suchtaxpayerfilesareturn] andsuchtaxcreditshallbeappliedagainsttheincometax
17081708 51liabilityimposedbychapter143,excludingthewithholdingtaximposedbysections143.191
17091709 52to143.265,afterreductionforallothercreditsallowedthereon.Thedepartmentmayrequire
17101710 53anydocumentationitdeemsnecessarytoadministertheprovisionsofthissection.Thetax
17111711 54creditallowedbythissection,afterissuancebythedepartment,shallberedeemedon
17121712 55thetaxpayer'sincometaxreturnforthetaxyearforwhichsuchcreditwasissued.
17131713 56 6.Notwithstandingtheprovisionsofsection32.057tothecontrary,thedepartment
17141714 57mayworkwiththedivisionofweightsandmeasureswithinthedepartmentofagricultureto
17151715 58validatethatthebiodieselblendaretaildealerordistributorclaimsforthetaxcredit
17161716 59authorizedunderthissectioncontainsasufficientpercentageofbiodieselfuel.
1717-HCS#2HB1007 47 60 7.Thedepartmentofagricultureshallpromulgaterulestoimplementandadminister
1717+HCSHB1007 47 60 7.Thedepartmentofagricultureshallpromulgaterulestoimplementandadminister
17181718 61theprovisionsofthissection.Anyruleorportionofarule,asthattermisdefinedinsection
17191719 62536.010,thatiscreatedpursuanttotheauthoritydelegatedinthissectionshallbecome
17201720 63effectiveonlyifitcomplieswithandissubjecttoalloftheprovisionsofchapter536and,if
17211721 64applicable,section536.028.Thissectionandchapter536arenonseverableandifanyofthe
17221722 65powersvestedwiththegeneralassemblypursuanttochapter536toreview,todelaythe
17231723 66effectivedate,ortodisapproveandannularulearesubsequentlyheldunconstitutional,then
17241724 67thegrantofrulemakingauthorityandanyruleproposedoradoptedafterJanuary2,2023,
17251725 68shallbeinvalidandvoid.
17261726 69 8.Undersection23.253oftheMissourisunsetact:
17271727 70 (1)Theprovisionsofthenewprogramauthorizedunderthissectionshall
17281728 71automaticallysunsetonDecember31,2028,unlessreauthorizedbyanactofthegeneral
17291729 72assembly;
17301730 73 (2)Ifsuchprogramisreauthorized,theprogramauthorizedunderthissectionshall
17311731 74automaticallysunsettwelveyearsaftertheeffectivedateofthereauthorizationofthissection;
17321732 75and
17331733 76 (3)ThissectionshallterminateonSeptemberfirstofthecalendaryearimmediately
17341734 77followingthecalendaryearinwhichtheprogramauthorizedunderthissectionissunset.The
17351735 78terminationoftheprogramasdescribedinthissubsectionshallnotbeconstruedtopreclude
17361736 79anyqualifiedtaxpayerwhoclaimsanybenefitunderanyprogramthatissunsetunderthis
17371737 80subsectionfromclaimingsuchbenefitforallallowableactivitiesrelatedtosuchclaimthat
17381738 81werecompletedbeforetheprogramwassunsetortoeliminateanyresponsibilityofthe
17391739 82departmenttoverifythecontinuedeligibilityofqualifiedindividualsreceivingtaxcreditsand
17401740 83toenforceotherrequirementsoflawthatappliedbeforetheprogramwassunset.
17411741 84 9.OnandafterAugust28,2025,thedepartmentofagricultureshalladminister
17421742 85thetaxcreditprovidedunderthissection.
17431743 135.778.1.Forthepurposesofthissection,thefollowingtermsshallmean:
17441744 2 (1)"Biodieselfuel",arenewable,biodegradable,monoalkylestercombustibleliquid
17451745 3fuelthatisderivedfromagriculturalandotherplantoilsoranimalfatsandthatmeetsthe
17461746 4mostrecentversionoftheASTMInternationalD6751StandardSpecificationforBiodiesel
17471747 5FuelBlendStock.Afuelshallbedeemedtobebiodieselfuelifthefuelconsistsofapure
17481748 6B100orB99ratio.Biodieselproducedfrompalmoilisnotbiodieselfuelforthepurposesof
17491749 7thissectionunlessthepalmoiliscontainedwithinwasteoilandgreasecollectedwithinthe
17501750 8UnitedStates;
17511751 9 (2)"B99",ablendofninety-ninepercentbiodieselfuelthatmeetsthemostrecent
17521752 10versionoftheASTMInternationalD6751StandardSpecificationforBiodieselFuelBlend
17531753 11Stockwithaminimumofone-tenthofonepercentandmaximumofonepercentdieselfuel
1754-HCS#2HB1007 48 12thatmeetsthemostrecentversionoftheASTMInternationalD975StandardSpecification
1754+HCSHB1007 48 12thatmeetsthemostrecentversionoftheASTMInternationalD975StandardSpecification
17551755 13forDieselFuel;
17561756 14 (3)"Department",theMissouridepartmentof[revenue] agriculture;
17571757 15 (4)"Missouribiodieselproducer",aperson,firm,orcorporationdoingbusinessin
17581758 16thisstatethatproducesbiodieselfuelinthisstate,isregisteredwiththeUnitedStates
17591759 17EnvironmentalProtectionAgencyaccordingtotherequirementsof40CFRPart79,andhas
17601760 18begunconstructiononsuchfacilityorhasbeensellingbiodieselfuelproducedatsuchfacility
17611761 19onorbeforeJanuary2,2023.
17621762 20 2.ForalltaxyearsbeginningonorafterJanuary1,2023,aMissouribiodiesel
17631763 21producershallbeallowedataxcredittobetakenagainsttheproducer'sstateincometax
17641764 22liability.ForanyMissouribiodieselproducerwithataxyearbeginningpriortoJanuary1,
17651765 232023,butendingduringthe2023calendaryear,suchMissouribiodieselproducershallbe
17661766 24allowedataxcreditfortheamountofbiodieselfuelproducedduringtheportionofsuchtax
17671767 25yearthatoccursduringthe2023calendaryear.Theamountofthetaxcreditshallbetwo
17681768 26centspergallonofbiodieselfuelproducedbytheMissouribiodieselproducerduringthetax
17691769 27yearforwhichthetaxcreditisclaimed.
17701770 28 3.Taxcreditsauthorizedunderthissectionshallnotbetransferred,sold,orassigned.
17711771 29Iftheamountofthetaxcreditexceedsthetaxpayer'sstatetaxliability,thedifferenceshallbe
17721772 30refundable.Thetotalamountoftaxcreditsissuedunderthissectionforanygivenfiscalyear
17731773 31shallnotexceedfivemillionfivehundredthousanddollars,whichshallbeauthorizedona
17741774 32first-come,first-servedbasis.
17751775 33 4.Thedepartmentshallprescribethemethodforsubmittingapplicationsfor
17761776 34claimingthetaxcreditauthorizedunderthissection[shallbeclaimedbysuchtaxpayeratthe
17771777 35timesuchtaxpayerfilesareturn] andsuchtaxcreditshallbeappliedagainsttheincometax
17781778 36liabilityimposedbychapter143,excludingthewithholdingtaximposedbysections143.191
17791779 37to143.265,afterreductionforallothercreditsallowedthereon.Thedepartmentmayrequire
17801780 38anydocumentationitdeemsnecessarytoadministertheprovisionsofthissection.Thetax
17811781 39creditallowedbythissection,afterissuancebythedepartment,shallberedeemedon
17821782 40thetaxpayer'sincometaxreturnforthetaxyearforwhichsuchcreditwasissued.
17831783 41 5.Thedepartmentofagricultureshallpromulgaterulestoimplementandadminister
17841784 42theprovisionsofthissection.Anyruleorportionofarule,asthattermisdefinedinsection
17851785 43536.010,thatiscreatedpursuanttotheauthoritydelegatedinthissectionshallbecome
17861786 44effectiveonlyifitcomplieswithandissubjecttoalloftheprovisionsofchapter536and,if
17871787 45applicable,section536.028.Thissectionandchapter536arenonseverableandifanyofthe
17881788 46powersvestedwiththegeneralassemblypursuanttochapter536toreview,todelaythe
17891789 47effectivedate,ortodisapproveandannularulearesubsequentlyheldunconstitutional,then
1790-HCS#2HB1007 49 48thegrantofrulemakingauthorityandanyruleproposedoradoptedafterJanuary2,2023,
1790+HCSHB1007 49 48thegrantofrulemakingauthorityandanyruleproposedoradoptedafterJanuary2,2023,
17911791 49shallbeinvalidandvoid.
17921792 50 6.Undersection23.253oftheMissourisunsetact:
17931793 51 (1)Theprovisionsofthenewprogramauthorizedunderthissectionshall
17941794 52automaticallysunsetonDecember31,2028,unlessreauthorizedbyanactofthegeneral
17951795 53assembly;
17961796 54 (2)Ifsuchprogramisreauthorized,theprogramauthorizedunderthissectionshall
17971797 55automaticallysunsettwelveyearsaftertheeffectivedateofthereauthorizationofthissection;
17981798 56and
17991799 57 (3)ThissectionshallterminateonSeptemberfirstofthecalendaryearimmediately
18001800 58followingthecalendaryearinwhichtheprogramauthorizedunderthissectionissunset.The
18011801 59terminationoftheprogramasdescribedinthissubsectionshallnotbeconstruedtopreclude
18021802 60anyqualifiedtaxpayerwhoclaimsanybenefitunderanyprogramthatissunsetunderthis
18031803 61subsectionfromclaimingsuchbenefitforallallowableactivitiesrelatedtosuchclaimthat
18041804 62werecompletedbeforetheprogramwassunset,ortoeliminateanyresponsibilityofthe
18051805 63departmenttoverifythecontinuedeligibilityofqualifiedindividualsreceivingtaxcreditsand
18061806 64toenforceotherrequirementsoflawthatappliedbeforetheprogramwassunset.
18071807 65 7.OnandafterAugust28,2025,thedepartmentofagricultureshalladminister
18081808 66thetaxcreditprovidedunderthissection.
18091809 135.800.1.Theprovisionsofsections135.800to135.830shallbeknownandmay
18101810 2becitedasthe"TaxCreditAccountabilityActof2004".
18111811 3 2.Asusedinsections135.800to135.830,thefollowingtermsmean:
18121812 4 (1)"Administeringagency",thestateagencyordepartmentchargedwith
18131813 5administeringaparticulartaxcreditprogram,assetforthbytheprogram'senacting
18141814 6statute;wherenodepartmentoragencyissetforth,thedepartmentofrevenue;
18151815 7 (2)"Agriculturaltaxcredits",theagriculturalproductutilizationcontributortaxcredit
18161816 8createdpursuanttosection348.430,thenewgenerationcooperativeincentivetaxcredit
18171817 9createdpursuanttosection348.432,andthefamilyfarmbreedinglivestockloantaxcredit
18181818 10createdundersection348.505[, thequalifiedbeeftaxcreditcreatedundersection135.679,
18191819 11andthewineandgrapeproductiontaxcreditcreatedpursuanttosection135.700];
18201820 12 (3)"Businessrecruitmenttaxcredits",thebusinessfacilitytaxcreditcreatedpursuant
18211821 13tosections135.110to135.150andsection135.258,theenterprisezonetaxbenefitscreated
18221822 14pursuanttosections135.200to135.270,thebusinessuseincentivesforlarge-scale
18231823 15developmentprogramscreatedpursuanttosections100.700to100.850,[thedevelopmenttax
18241824 16creditscreatedpursuanttosections32.100to32.125,therebuildingcommunitiestaxcredit
18251825 17createdpursuanttosection135.535,] andthe[filmproduction] showMOacttaxcredit
18261826 18createdpursuanttosection135.750[, theenhancedenterprisezonecreatedpursuantto
1827-HCS#2HB1007 50 19sections135.950to135.970,andtheMissouriqualityjobsprogramcreatedpursuantto
1827+HCSHB1007 50 19sections135.950to135.970,andtheMissouriqualityjobsprogramcreatedpursuantto
18281828 20sections620.1875to620.1900];
18291829 21 (4)"Communitydevelopmenttaxcredits",theneighborhoodassistancetaxcredit
18301830 22createdpursuanttosections32.100to32.125[,] andthefamilydevelopmentaccounttax
18311831 23creditcreatedpursuanttosections208.750to208.775[, thedryfirehydranttaxcreditcreated
18321832 24pursuanttosection320.093,andthetransportationdevelopmenttaxcreditcreatedpursuantto
18331833 25section135.545];
18341834 26 (5)"Domesticandsocialtaxcredits",theyouthopportunitiestaxcreditcreated
18351835 27pursuanttosection135.460andsections620.1100to620.1103,theshelterforvictimsof
18361836 28domesticviolenceorrapecrisiscentercreatedpursuanttosection135.550,thesenior
18371837 29citizenordisabledpersonpropertytaxcreditcreatedpursuanttosections135.010to135.035,
18381838 30theadoptiontaxcreditcreatedpursuanttosections135.325to135.339,thechampionfor
18391839 31childrentaxcreditcreatedpursuanttosection135.341,thematernityhometaxcreditcreated
18401840 32pursuanttosection135.600,thesurvivingspousetaxcreditcreatedpursuanttosection
18411841 33135.090,theresidentialtreatmentagencytaxcreditcreatedpursuanttosection135.1150,the
18421842 34pregnancyresourcecentertaxcreditcreatedpursuanttosection135.630,thefoodpantrytax
18431843 35creditcreatedpursuanttosection135.647,theresidentialdwellingaccesstaxcreditcreated
18441844 36pursuanttosection135.562,thedevelopmentaldisabilitycareprovidertaxcreditcreated
18451845 37undersection135.1180,thesharedcaretaxcreditcreatedpursuanttosection192.2015,[the
18461846 38health,hunger,andhygienetaxcreditcreatedpursuanttosection135.1125,]andthediaper
18471847 39banktaxcreditcreatedpursuanttosection135.621;
18481848 40 (6)"Entrepreneurialtaxcredits",thecapitaltaxcreditcreatedpursuanttosections
18491849 41135.400to[135.429] 135.432, [thecertifiedcapitalcompanytaxcreditcreatedpursuantto
18501850 42sections135.500to135.529,theseedcapitaltaxcreditcreatedpursuanttosections348.300
18511851 43to348.318,thenewenterprisecreationtaxcreditcreatedpursuanttosections620.635to
18521852 44620.653,] theresearchtaxcreditcreatedpursuanttosection620.1039,andthesmallbusiness
18531853 45incubatortaxcreditcreatedpursuanttosection620.495[, theguaranteefeetaxcreditcreated
18541854 46pursuanttosection135.766,andthenewgenerationcooperativetaxcreditcreatedpursuantto
18551855 47sections32.105to32.125];
18561856 48 (7)"Environmentaltaxcredits",[thecharcoalproducertaxcreditcreatedpursuantto
18571857 49section135.313,] thewoodenergytaxcreditcreatedpursuanttosections135.300to135.311
18581858 50[,andthealternativefuelstationstaxcreditcreatedpursuanttosection135.710];
18591859 51 (8)"Financialandinsurancetaxcredits",thebankfranchisetaxcreditcreated
18601860 52pursuanttosection148.030,thebanktaxcreditforScorporationscreatedpursuanttosection
18611861 53143.471,theexamfeetaxcreditcreatedpursuanttosection148.400,thehealthinsurance
18621862 54pooltaxcreditcreatedpursuanttosection376.975,thelifeandhealthinsuranceguaranty
18631863 55associationtaxcreditcreatedpursuanttosection376.745,thepropertyandcasualtyguaranty
1864-HCS#2HB1007 51 56associationtaxcreditcreatedpursuanttosection375.774,andtheself-employedhealth
1864+HCSHB1007 51 56associationtaxcreditcreatedpursuanttosection375.774,andtheself-employedhealth
18651865 57insurancetaxcreditcreatedpursuanttosection143.119;
18661866 58 (9)"Housingtaxcredits",theneighborhoodpreservationtaxcreditcreatedpursuant
18671867 59tosections135.475to135.487,thelow-incomehousingtaxcreditcreatedpursuantto
18681868 60sections135.350to135.363,andtheaffordablehousingtaxcreditcreatedpursuantto
18691869 61sections32.105to32.125;
18701870 62 (10)"Recipient",theindividualorentitywhoboth:
18711871 63 (a)Istheoriginalapplicantforataxcredit;and
18721872 64 (b)Whodirectlyreceivesataxcreditortherighttotransferataxcreditunderatax
18731873 65creditprogram,regardlessastowhetherthetaxcredithasbeenusedorredeemed;arecipient
18741874 66shallnotincludethetransfereeofatransferabletaxcredit;
18751875 67 (11)"Redevelopmenttaxcredits",thehistoricpreservationtaxcreditcreatedpursuant
18761876 68tosections253.545to253.559,thebrownfieldredevelopmentprogramtaxcreditcreated
18771877 69pursuanttosections447.700to447.718,thecommunitydevelopmentcorporationstaxcredit
18781878 70createdpursuanttosections135.400to[135.430] 135.432, theinfrastructuretaxcredit
18791879 71createdpursuanttosubsection6ofsection100.286,thebondguaranteetaxcreditcreated
18801880 72pursuanttosection100.297,andthedisabledaccesstaxcreditcreatedpursuanttosection
18811881 73135.490[, thenewmarketstaxcreditcreatedpursuanttosection135.680,andthedistressed
18821882 74areaslandassemblagetaxcreditcreatedpursuanttosection99.1205];
18831883 75 (12)"Taxcreditprogram",anyofthetaxcreditprogramsincludedinthedefinitions
18841884 76ofagriculturaltaxcredits,businessrecruitmenttaxcredits,communitydevelopmenttax
18851885 77credits,domesticandsocialtaxcredits,entrepreneurialtaxcredits,environmentaltaxcredits,
18861886 78housingtaxcredits,redevelopmenttaxcredits,andtrainingandeducationaltaxcredits;
18871887 79 (13)"Trainingandeducationaltaxcredits",theMissouriworksnewjobstaxcredit
18881888 80andMissouriworksretainedjobscreditcreatedpursuanttosections620.800to620.809.
18891889 135.835.1.Theprovisionsofthissectionshallbeconstrued,wherevernecessary,
18901890 2tobeinadditiontoexistingrequirements,duties,orobligationspresentinother
18911891 3provisionsoflawwithregardtoalltaxcreditprograms.
18921892 4 2.ForalltaxyearsbeginningonorafterJanuary1,2026,inenactinganylaw
18931893 5creatinganewtaxcreditorincreasingthecumulativecapamountofanexistingtax
18941894 6credit,thegeneralassemblyshallrepeal,modify,orreducethetotalamountofan
18951895 7existingtaxcreditortaxcreditstoensurethattheamountavailabletotaxpayersisless
18961896 8thanorequaltothetotalamountreducedasaresultofthenewlycreatedtaxcredit
18971897 9programortheincreasedcumulativecapamountontheexistingtaxcreditprogram.
18981898 10 3.ForalltaxyearsbeginningonorafterJanuary1,2026,alltaxcreditsissued
18991899 11onoraftersuchdateshallnotbecarriedforwardbeyondthreeyears,ifcarryforward
19001900 12provisionsareapplicable.
1901-HCS#2HB1007 52 13 4.(1)Exceptasprovidedundersubdivision(2)ofthissubsection,forallfiscal
1901+HCSHB1007 52 13 4.(1)Exceptasprovidedundersubdivision(2)ofthissubsection,forallfiscal
19021902 14yearsbeginningonorafterJuly1,2026,alltaxcreditsshallbesubjecttoappropriation.
19031903 15Ifnoappropriationismadeforataxcreditprogram,suchtaxcreditshallnotbeissued
19041904 16forthatfiscalyear.
19051905 17 (2)Thefollowingtaxcreditsshallbeexemptfromtheappropriation
19061906 18requirementundersubdivision(1)ofthissubsection:
1907-19 (a)TheMissourilow-incomehousingtaxcreditscreatedundersections135.350
1908-20to135.363;
1909-21 (b)TheshowMOacttaxcreditscreatedundersection135.750;
1910-22 (c)Theself-employedhealthinsurancetaxcreditcreatedundersection143.119;
1911-23 (d)TheMissouriworkingfamilytaxcreditcreatedundersection143.177;
1912-24 (e)TheSALTparitytaxcreditscreatedundersection143.436;
1913-25 (f)ThebanktaxcreditsforScorporationscreatedundersection143.471;and
1914-26 (g)Thebankfranchisetaxcreditcreatedundersection148.030.
1915-27 5.Theprovisionsofthissectionshallnotbeconstruedtolimitorinanyway
1916-28impairataxpayer'sabilitytoredeemtaxcreditsoranadministeringagency'sabilityto
1917-29issuetaxcreditsauthorizedpriortoJanuary1,2026.
1907+19 (a)Theself-employedhealthinsurancetaxcreditcreatedundersection143.119;
1908+20 (b)TheMissouriworkingfamilytaxcreditcreatedundersection143.177;
1909+21 (c)TheSALTparitytaxcreditscreatedundersection143.436;
1910+22 (d)ThebanktaxcreditsforScorporationscreatedundersection143.471;and
1911+23 (e)Thebankfranchisetaxcreditcreatedundersection148.030.
1912+24 5.Theprovisionsofthissectionshallnotbeconstruedtolimitorinanyway
1913+25impairataxpayer'sabilitytoredeemtaxcreditsoranadministeringagency'sabilityto
1914+26issuetaxcreditsauthorizedpriortoJanuary1,2026.
19181915 135.1150.1.Thissectionshallbeknownandmaybecitedasthe"Residential
19191916 2TreatmentAgencyTaxCreditAct".
19201917 3 2.Asusedinthissection,thefollowingtermsmean:
19211918 4 (1)"Certificate",ataxcreditcertificateissuedunderthissection;
19221919 5 (2)"Department",theMissouridepartmentofsocialservices;
19231920 6 (3)"Eligibledonation",donationsreceivedfromataxpayerbyanagencythatare
19241921 7usedsolelytoprovidedirectcareservicestochildrenwhoareresidentsofthisstate.Eligible
19251922 8donationsmayincludecash,publiclytradedstocksandbonds,andrealestatethatwillbe
19261923 9valuedanddocumentedaccordingtorulespromulgatedbythedepartmentofsocialservices.
19271924 10Forpurposesofthissection,"directcareservices"includebutarenotlimitedtoincreasingthe
19281925 11qualityofcareandserviceforchildrenthroughimprovedemployeecompensationand
19291926 12training;
19301927 13 (4)"Qualifiedresidentialtreatmentagency"or"agency",aresidentialcarefacility
19311928 14thatislicensedundersection210.484,accreditedbytheCouncilonAccreditation(COA),the
19321929 15JointCommissiononAccreditationofHealthcareOrganizations(JCAHO),orthe
19331930 16CommissiononAccreditationofRehabilitationFacilities(CARF),andisundercontract
19341931 17withtheMissouridepartmentofsocialservicestoprovidetreatmentservicesforchildrenwho
19351932 18areresidentsorwardsofresidentsofthisstate,andthatreceiveseligibledonations.Any
19361933 19agencythatoperatesmorethanonefacilityoratmorethanonelocationshallbeeligiblefor
1937-HCS#2HB1007 53 20thetaxcreditunderthissectiononlyforanyeligibledonationmadetofacilitiesorlocations
1934+20thetaxcreditunderthissectiononlyforanyeligibledonationmadetofacilitiesorlocations
19381935 21oftheagencywhicharelicensedandaccredited;
19391936 22 (5)"Taxpayer",anyofthefollowingindividualsorentitieswhomakeaneligible
19401937 23donationtoanagency:
1941-24 (a)Aperson,firm,partnerinafirm,corporation,orashareholderinanScorporation
1938+HCSHB1007 53 24 (a)Aperson,firm,partnerinafirm,corporation,orashareholderinanScorporation
19421939 25doingbusinessinthestateofMissouriandsubjecttothestateincometaximposedinchapter
19431940 26143;
19441941 27 (b)Acorporationsubjecttotheannualcorporationfranchisetaximposedinchapter
19451942 28147;
19461943 29 (c)Aninsurancecompanypayinganannualtaxonitsgrosspremiumreceiptsinthis
19471944 30state;
19481945 31 (d)AnyotherfinancialinstitutionpayingtaxestothestateofMissouriorany
19491946 32politicalsubdivisionofthisstateunderchapter148;
19501947 33 (e)Anindividualsubjecttothestateincometaximposedinchapter143;
19511948 34 (f)Anycharitableorganizationwhichisexemptfromfederalincometaxandwhose
19521949 35Missouriunrelatedbusinesstaxableincome,ifany,wouldbesubjecttothestateincometax
19531950 36imposedunderchapter143.
19541951 37 3.Forall[taxable] taxyearsbeginningonorafterJanuary1,2007,anytaxpayershall
19551952 38beallowedacreditagainstthetaxesotherwisedueunderchapter143,147,or148,excluding
19561953 39withholdingtaximposedbysections143.191to143.265,inanamountequaltofiftypercent
19571954 40oftheamountofaneligibledonation,subjecttotherestrictionsinthissection.Theamount
19581955 41ofthetaxcreditclaimedshallnotexceedtheamountofthetaxpayer'sstateincometax
19591956 42liabilityinthetaxyearforwhichthecreditisclaimed.Anyamountofcreditthatthetaxpayer
19601957 43isprohibitedbythissectionfromclaiminginataxyearshallnotberefundable,butmaybe
19611958 44carriedforwardtoanyofthetaxpayer'sfoursubsequent[taxable] taxyears.
19621959 45 4.Toclaimthecreditauthorizedinthissection,anagencymaysubmittothe
19631960 46departmentanapplicationforthetaxcreditauthorizedbythissectiononbehalfoftaxpayers.
19641961 47Thedepartmentshallverifythattheagencyhassubmittedthefollowingitemsaccuratelyand
19651962 48completely:
19661963 49 (1)Avalidapplicationintheformandformatrequiredbythedepartment;
19671964 50 (2)Astatementattestingtotheeligibledonationreceived,whichshallincludethe
19681965 51nameandtaxpayeridentificationnumberoftheindividualmakingtheeligibledonation,the
19691966 52amountoftheeligibledonation,andthedatetheeligibledonationwasreceivedbythe
19701967 53agency;and
19711968 54 (3)Paymentfromtheagencyequaltothevalueofthetaxcreditforwhichapplication
19721969 55ismade.
19731970 56
1974-HCS#2HB1007 54 57Iftheagencyapplyingforthetaxcreditmeetsallcriteriarequiredbythissubsection,the
1971+57Iftheagencyapplyingforthetaxcreditmeetsallcriteriarequiredbythissubsection,the
19751972 58departmentshallissueacertificateintheappropriateamount.
19761973 59 5.Anagencymayapplyfortaxcreditsinanaggregateamountthatdoesnotexceed
19771974 60thepaymentsmadebythedepartmenttotheagencyintheprecedingtwelvemonths.
1978-61 6.Taxcreditsissuedunderthissectionmaybeassigned,transferred,sold,or
1975+HCSHB1007 54 61 6.Taxcreditsissuedunderthissectionmaybeassigned,transferred,sold,or
19791976 62otherwiseconveyed,andthenewownerofthetaxcreditshallhavethesamerightsinthe
19801977 63creditasthetaxpayer.Wheneveracertificateisassigned,transferred,sold,orotherwise
19811978 64conveyed,anotarizedendorsementshallbefiledwiththedepartmentspecifyingthename
19821979 65andaddressofthenewownerofthetaxcreditorthevalueofthecredit.
19831980 66 7.(1)ForallfiscalyearsbeginningonorafterJuly1,2026,thecumulative
19841981 67amountoftaxcreditsissuedannuallytoalltaxpayersbythedepartmentunderthis
19851982 68sectionshallnotexceedthetotalcapamount,whichshallbeanamountequaltothe
19861983 69highestannualamountoftaxcreditsissuedinanyonepreviousfiscalyear,fromfiscal
19871984 70year2023tofiscalyear2025,asdeterminedandcalculatedbythedepartment.
19881985 71 (2)Iftheamountoftaxcreditsclaimedinafiscalyearunderthissectionexceeds
19891986 72thetotalcapdeterminedundersubdivision(1)ofthissubsection,taxcreditsshallbe
19901987 73allowedbasedontheorderinwhichtheywereissued.
19911988 74 [7.]8.Thedepartmentshallpromulgaterulestoimplementtheprovisionsofthis
19921989 75section.Anyruleorportionofarule,asthattermisdefinedinsection536.010,thatis
19931990 76createdundertheauthoritydelegatedinthissectionshallbecomeeffectiveonlyifitcomplies
19941991 77withandissubjecttoalloftheprovisionsofchapter536and,ifapplicable,section536.028.
19951992 78Thissectionandchapter536arenonseverableandifanyofthepowersvestedwiththe
19961993 79generalassemblypursuanttochapter536toreview,todelaytheeffectivedate,orto
19971994 80disapproveandannularulearesubsequentlyheldunconstitutional,thenthegrantof
19981995 81rulemakingauthorityandanyruleproposedoradoptedafterAugust28,2006,shallbeinvalid
19991996 82andvoid.
20001997 83 9.Undersection23.253oftheMissourisunsetact:
20011998 84 (1)Theprovisionsoftheprogramauthorizedunderthissectionshall
20021999 85automaticallysunsetonAugust28,2031,unlessreauthorizedbyanactofthegeneral
20032000 86assembly;
20042001 87 (2)Ifsuchprogramisreauthorized,theprogramauthorizedunderthissection
20052002 88shallautomaticallysunsetsixyearsaftertheeffectivedateofthereauthorizationofthis
20062003 89section;
20072004 90 (3)ThissectionshallterminateonSeptemberfirstofthecalendaryear
20082005 91immediatelyfollowingthecalendaryearinwhichtheprogramauthorizedunderthis
20092006 92sectionissunset;and
2010-HCS#2HB1007 55 93 (4)Theprovisionsofthissubsectionshallnotbeconstruedtolimitorinanyway
2007+93 (4)Theprovisionsofthissubsectionshallnotbeconstruedtolimitorinanyway
20112008 94impairataxpayer'sabilitytoredeemtaxcreditsauthorizedonorbeforethedatethe
20122009 95programauthorizedunderthissectionexpires.
20132010 135.1180.1.Thissectionshallbeknownandmaybecitedasthe"Developmental
20142011 2DisabilityCareProviderTaxCreditProgram".
2015-3 2.Asusedinthissection,thefollowingtermsmean:
2012+HCSHB1007 55 3 2.Asusedinthissection,thefollowingtermsmean:
20162013 4 (1)"Certificate",ataxcreditcertificateissuedunderthissection;
20172014 5 (2)"Department",theMissouridepartmentofsocialservices;
20182015 6 (3)"Eligibledonation",donationsreceivedbyaproviderfromataxpayerthatare
20192016 7usedsolelytoprovidedirectcareservicestopersonswithdevelopmentaldisabilitieswhoare
20202017 8residentsofthisstate.Eligibledonationsmayincludecash,publiclytradedstocksandbonds,
20212018 9andrealestatethatwillbevaluedanddocumentedaccordingtorulespromulgatedbythe
20222019 10departmentofsocialservices.Forpurposesofthissection,"directcareservices"include,but
20232020 11arenotlimitedto,increasingthequalityofcareandserviceforpersonswithdevelopmental
20242021 12disabilitiesthroughimprovedemployeecompensationandtraining;
20252022 13 (4)"Qualifieddevelopmentaldisabilitycareprovider"or"provider",acareprovider
20262023 14thatprovidesassistancetopersonswithdevelopmentaldisabilities,andisaccreditedbythe
20272024 15CouncilonAccreditation(COA),theJointCommissiononAccreditationofHealthcare
20282025 16Organizations(JCAHO),ortheCommissiononAccreditationofRehabilitationFacilities
20292026 17(CARF),orisundercontractwiththeMissouridepartmentofsocialservicesordepartmentof
20302027 18mentalhealthtoprovidetreatmentservicesforsuchpersons,andthatreceiveseligible
20312028 19donations.Anyproviderthatoperatesmorethanonefacilityoratmorethanonelocation
20322029 20shallbeeligibleforthetaxcreditunderthissectiononlyforanyeligibledonationmadeto
20332030 21facilitiesorlocationsoftheproviderwhicharelicensedoraccredited;
20342031 22 (5)"Taxpayer",anyofthefollowingindividualsorentitieswhomakeaneligible
20352032 23donationtoaprovider:
20362033 24 (a)Aperson,firm,partnerinafirm,corporation,orashareholderinanScorporation
20372034 25doingbusinessinthestateofMissouriandsubjecttothestateincometaximposedinchapter
20382035 26143;
20392036 27 (b)Acorporationsubjecttotheannualcorporationfranchisetaximposedinchapter
20402037 28147;
20412038 29 (c)Aninsurancecompanypayinganannualtaxonitsgrosspremiumreceiptsinthis
20422039 30state;
20432040 31 (d)AnyotherfinancialinstitutionpayingtaxestothestateofMissouriorany
20442041 32politicalsubdivisionofthisstateunderchapter148;
20452042 33 (e)Anindividualsubjecttothestateincometaximposedinchapter143;
2046-HCS#2HB1007 56 34 (f)Anycharitableorganizationwhichisexemptfromfederalincometaxandwhose
2043+34 (f)Anycharitableorganizationwhichisexemptfromfederalincometaxandwhose
20472044 35Missouriunrelatedbusinesstaxableincome,ifany,wouldbesubjecttothestateincometax
20482045 36imposedunderchapter143.
20492046 37 3.Forall[taxable] taxyearsbeginningonorafterJanuary1,2012,anytaxpayershall
20502047 38beallowedacreditagainstthetaxesotherwisedueunderchapter143,147,or148excluding
20512048 39withholdingtaximposedbysections143.191to143.265inanamountequaltofiftypercent
2052-40oftheamountofaneligibledonation,subjecttotherestrictionsinthissection.Theamount
2049+HCSHB1007 56 40oftheamountofaneligibledonation,subjecttotherestrictionsinthissection.Theamount
20532050 41ofthetaxcreditclaimedshallnotexceedtheamountofthetaxpayer'sstateincometax
20542051 42liabilityinthetaxyearforwhichthecreditisclaimed.Anyamountofcreditthatthetaxpayer
20552052 43isprohibitedbythissectionfromclaiminginataxyearshallnotberefundable,butmaybe
20562053 44carriedforwardtoanyofthetaxpayer'sfoursubsequent[taxable] taxyears.
20572054 45 4.Toclaimthecreditauthorizedinthissection,aprovidermaysubmittothe
20582055 46departmentanapplicationforthetaxcreditauthorizedbythissectiononbehalfoftaxpayers.
20592056 47Thedepartmentshallverifythattheproviderhassubmittedthefollowingitemsaccurately
20602057 48andcompletely:
20612058 49 (1)Avalidapplicationintheformandformatrequiredbythedepartment;
20622059 50 (2)Astatementattestingtotheeligibledonationreceived,whichshallincludethe
20632060 51nameandtaxpayeridentificationnumberoftheindividualmakingtheeligibledonation,the
20642061 52amountoftheeligibledonation,andthedatetheeligibledonationwasreceivedbythe
20652062 53provider;and
20662063 54 (3)Paymentfromtheproviderequaltothevalueofthetaxcreditforwhich
20672064 55applicationismade.
20682065 56
20692066 57Iftheproviderapplyingforthetaxcreditmeetsallcriteriarequiredbythissubsection,the
20702067 58departmentshallissueacertificateintheappropriateamount.
20712068 59 5.Taxcreditsissuedunderthissectionmaybeassigned,transferred,sold,or
20722069 60otherwiseconveyed,andthenewownerofthetaxcreditshallhavethesamerightsinthe
20732070 61creditasthetaxpayer.Wheneveracertificateisassigned,transferred,sold,orotherwise
20742071 62conveyed,anotarizedendorsementshallbefiledwiththedepartmentspecifyingthename
20752072 63andaddressofthenewownerofthetaxcreditorthevalueofthecredit.
20762073 64 6.(1)ForallfiscalyearsbeginningonorafterJuly1,2026,thecumulative
20772074 65amountoftaxcreditsissuedannuallytoalltaxpayersbythedepartmentunderthis
20782075 66sectionshallnotexceedthetotalcapamount,whichshallbeanamountequaltothe
20792076 67highestannualamountoftaxcreditsissuedinanyonepreviousfiscalyear,fromfiscal
20802077 68year2023tofiscalyear2025,asdeterminedandcalculatedbythedepartment.
2081-HCS#2HB1007 57 69 (2)Iftheamountoftaxcreditsclaimedinafiscalyearunderthissectionexceeds
2078+69 (2)Iftheamountoftaxcreditsclaimedinafiscalyearunderthissectionexceeds
20822079 70thetotalcapdeterminedundersubdivision(1)ofthissubsection,taxcreditsshallbe
20832080 71allowedbasedontheorderinwhichtheywereissued.
20842081 72 [6.]7.Thedepartmentshallpromulgaterulestoimplementtheprovisionsofthis
20852082 73section.Anyruleorportionofarule,asthattermisdefinedinsection536.010,thatis
20862083 74createdundertheauthoritydelegatedinthissectionshallbecomeeffectiveonlyifitcomplies
20872084 75withandissubjecttoalloftheprovisionsofchapter536and,ifapplicable,section536.028.
20882085 76Thissectionandchapter536arenonseverableandifanyofthepowersvestedwiththe
2089-77generalassemblypursuanttochapter536toreview,todelaytheeffectivedate,orto
2086+HCSHB1007 57 77generalassemblypursuanttochapter536toreview,todelaytheeffectivedate,orto
20902087 78disapproveandannularulearesubsequentlyheldunconstitutional,thenthegrantof
20912088 79rulemakingauthorityandanyruleproposedoradoptedafterAugust28,2012,shallbeinvalid
20922089 80andvoid.
20932090 81 8.Undersection23.253oftheMissourisunsetact:
20942091 82 (1)Theprovisionsoftheprogramauthorizedunderthissectionshall
20952092 83automaticallysunsetonAugust28,2031,unlessreauthorizedbyanactofthegeneral
20962093 84assembly;
20972094 85 (2)Ifsuchprogramisreauthorized,theprogramauthorizedunderthissection
20982095 86shallautomaticallysunsetsixyearsaftertheeffectivedateofthereauthorizationofthis
20992096 87section;
21002097 88 (3)ThissectionshallterminateonSeptemberfirstofthecalendaryear
21012098 89immediatelyfollowingthecalendaryearinwhichtheprogramauthorizedunderthis
21022099 90sectionissunset;and
21032100 91 (4)Theprovisionsofthissubsectionshallnotbeconstruedtolimitorinanyway
21042101 92impairataxpayer'sabilitytoredeemtaxcreditsauthorizedonorbeforethedatethe
21052102 93programauthorizedunderthissectionexpires.
21062103 137.123.1.BeginningJanuary1,2022,forpurposesofassessingallrealproperty,
21072104 2excludingland,ortangiblepersonalpropertyassociatedwithaprojectthatuseswindenergy
21082105 3directlytogenerateelectricity,thirty-sevenandone-halfpercentoftheoriginalcostsshallbe
21092106 4thetruevalueinmoneyofsuchproperty.Suchvalueshallbegintheyearimmediately
21102107 5followingtheyearofconstructionoftheproperty.Theoriginalcostsshallreflecteither:
21112108 6 (1)Theactualanddocumentedoriginalpropertycosttothetaxpayer,asshallbe
21122109 7providedbythetaxpayertotheassessor;or
21132110 8 (2)Intheabsenceofactualanddocumentedoriginalpropertycosttothetaxpayer,the
21142111 9estimatedcostofthepropertybytheassessor,usinganauthoritativecostguide.
21152112 10 2.Nothinginthissectionshallbeconstruedtoprohibitaprojectfromengagingin
21162113 11enhancedenterprisezoneagreements[undersections135.950to135.973] orsimilartax
2117-HCS#2HB1007 58 12abatementagreementswithstateorlocalofficialsortoaffectanyexistingenhanced
2114+12abatementagreementswithstateorlocalofficialsortoaffectanyexistingenhanced
21182115 13enterprisezoneagreements.
21192116 143.119.1.Aself-employedtaxpayer,assuchtermisusedinthefederalinternal
21202117 2revenuecode,whoisotherwiseineligibleforthefederalincometaxhealthinsurance
21212118 3deductionunderSection162ofthefederalinternalrevenuecodeshallbeentitledtoacredit
21222119 4againstthetaxotherwisedueunderthischapter,excludingwithholdingtaximposedby
21232120 5sections143.191to143.265,inanamountequaltotheportionofsuchtaxpayer'sfederaltax
21242121 6liabilityincurredduetosuchtaxpayer'sinclusionofsuchpaymentsinfederaladjustedgross
21252122 7income.Tobeeligibleforacreditunderthissection,theself-employedtaxpayershallhavea
2126-8Missouriincometaxliability,beforeanyothertaxcredits,oflessthanthreethousanddollars.
2123+HCSHB1007 58 8Missouriincometaxliability,beforeanyothertaxcredits,oflessthanthreethousanddollars.
21272124 9Thetaxcreditsauthorizedunderthissectionshallbenontransferable,nonrefundable,and
21282125 10shallnotbecarriedbackorforwardtoanyothertaxyear.Aself-employedtaxpayershallnot
21292126 11claimbothataxcreditunderthissectionandasubtractionundersection143.113forthesame
21302127 12taxyear.
21312128 13 2.(1)ForallfiscalyearsbeginningonorafterJuly1,2026,thecumulative
21322129 14amountoftaxcreditsissuedannuallytoalltaxpayersbythedepartmentunderthis
21332130 15sectionshallnotexceedthetotalcapamount,whichshallbeanamountequaltothe
21342131 16highestannualamountoftaxcreditsissuedinanyonepreviousfiscalyear,fromfiscal
21352132 17year2023tofiscalyear2025,asdeterminedandcalculatedbythedepartment.
21362133 18 (2)Iftheamountoftaxcreditsclaimedinafiscalyearunderthissectionexceeds
21372134 19thetotalcapdeterminedundersubdivision(1)ofthissubsection,taxcreditsshallbe
21382135 20allowedbasedontheorderinwhichtheywereissued.
21392136 21 3.Thetaxcreditsauthorizedunderthissectionshallnotbesubjectto
21402137 22appropriations,asprovidedundersubsection4ofsection135.835.
21412138 23 [2.]4.Thedirectorofthedepartmentofrevenueshallpromulgaterulesand
21422139 24regulationstoadministertheprovisionsofthissection.Anyruleorportionofarule,asthat
21432140 25termisdefinedinsection536.010,thatiscreatedundertheauthoritydelegatedinthissection
21442141 26shallbecomeeffectiveonlyifitcomplieswithandissubjecttoalloftheprovisionsof
21452142 27chapter536and,ifapplicable,section536.028.Thissectionandchapter536are
21462143 28nonseverableandifanyofthepowersvestedwiththegeneralassemblypursuanttochapter
21472144 29536toreview,todelaytheeffectivedate,ortodisapproveandannularulearesubsequently
21482145 30heldunconstitutional,thenthegrantofrulemakingauthorityandanyruleproposedor
21492146 31adoptedafterAugust28,2007,shallbeinvalidandvoid.
21502147 32 [3.]5.Pursuanttosection23.253oftheMissourisunsetact:
21512148 33 (1)TheprovisionsofthissectionshallsunsetautomaticallyonDecember31,2028,
21522149 34unlessreauthorizedbyanactofthegeneralassembly;and
2153-HCS#2HB1007 59 35 (2)Ifsuchprogramisreauthorized,thissectionshallsunsetautomaticallyDecember
2150+35 (2)Ifsuchprogramisreauthorized,thissectionshallsunsetautomaticallyDecember
21542151 36thirty-firstsixyearsaftertheeffectivedateofthereauthorizationofthissection;and
21552152 37 (3)ThissectionshallterminateonSeptemberfirstofthecalendaryearimmediately
21562153 38followingthecalendaryearinwhichtheprogramauthorizedunderthissectionissunset;and
21572154 39 (4)Theprovisionsofthissubsectionshallnotbeconstruedtolimitorinanyway
21582155 40impairthedepartment'sabilitytoredeemtaxcreditsauthorizedonorbeforethedatethe
21592156 41programauthorizedpursuanttothissectionexpires,orataxpayer'sabilitytoredeemsuchtax
21602157 42credits.
21612158 143.177.1.Thissectionshallbeknownandmaybecitedasthe"MissouriWorking
21622159 2FamilyTaxCreditAct".
2163-3 2.Forpurposesofthissection,thefollowingtermsshallmean:
2160+HCSHB1007 59 3 2.Forpurposesofthissection,thefollowingtermsshallmean:
21642161 4 (1)"Department",thedepartmentofrevenue;
21652162 5 (2)"Eligibletaxpayer",aresidentindividualwithafilingstatusofsingle,headof
21662163 6household,widowed,ormarriedfilingcombinedwhoissubjecttothetaximposedunderthis
21672164 7chapter,excludingwithholdingtaximposedundersections143.191to143.265,andwhois
21682165 8allowedafederalearnedincometaxcreditunder26U.S.C.Section32,asamended;
21692166 9 (3)"Taxcredit",acreditagainstthetaxotherwisedueunderthischapter,excluding
21702167 10withholdingtaximposedundersections143.191to143.265.
21712168 11 3.(1)Beginningwiththe2023calendaryear,aneligibletaxpayershallbealloweda
21722169 12taxcreditinanamountequaltoapercentageoftheamountsuchtaxpayerwouldreceive
21732170 13underthefederalearnedincometaxcreditassuchcreditexistedunder26U.S.C.Section32
21742171 14asofJanuary1,2021,asprovidedpursuanttosubdivision(2)ofthissubsection.Thetax
21752172 15creditallowedbythissectionshallbeclaimedbysuchtaxpayeratthetimesuchtaxpayerfiles
21762173 16areturnandshallbeappliedagainsttheincometaxliabilityimposedbythischapterafter
21772174 17reductionforallothercreditsallowedthereon.Iftheamountofthecreditexceedsthetax
21782175 18liability,thedifferenceshallnotberefundedtothetaxpayerandshallnotbecarriedforward
21792176 19toanysubsequenttaxyear.
21802177 20 (2)Subjecttotheprovisionsofsubdivision(3)ofthissubsection,thepercentageof
21812178 21thefederalearnedincometaxcredittobeallowedasataxcreditpursuanttosubdivision(1)
21822179 22ofthissubsectionshallbetenpercent,whichmaybeincreasedtotwentypercentsubjectto
21832180 23theprovisionsofsubdivision(3)ofthissubsection.Themaximumpercentagethatmaybe
21842181 24claimedasataxcreditpursuanttothissectionshallbetwentypercentofthefederalearned
21852182 25incometaxcreditthatmaybeclaimedbysuchtaxpayer.Anyincreaseinthepercentagethat
21862183 26maybeclaimedasataxcreditshalltakeeffectonJanuaryfirstofacalendaryearandsuch
21872184 27percentageshallcontinueineffectuntilthenextpercentageincreaseoccurs.Anincrease
21882185 28shallonlyapplytotaxyearsthatbeginonoraftertheincreasetakeseffect.
2189-HCS#2HB1007 60 29 (3)Theinitialpercentagetobeclaimedasataxcreditandanyincreaseinthe
2186+29 (3)Theinitialpercentagetobeclaimedasataxcreditandanyincreaseinthe
21902187 30percentagethatmaybeclaimedpursuanttosubdivision(2)ofthissubsectionshallonlyoccur
21912188 31iftheamountofnetgeneralrevenuecollectedinthepreviousfiscalyearexceedsthehighest
21922189 32amountofnetgeneralrevenuecollectedinanyofthethreefiscalyearspriortosuchfiscal
21932190 33yearbyatleastonehundredfiftymilliondollars.
21942191 34 (4)ForallcalendaryearsbeginningonorafterJanuary1,2027,thecumulative
21952192 35amountoftaxcreditsissuedannuallytoalltaxpayersbythedepartmentunderthis
21962193 36sectionshallnotexceedthetotalcapamount,whichshallbeanamountequaltothe
21972194 37highestannualamountoftaxcreditsissuedinanyonepreviousfiscalyear,fromfiscal
21982195 38year2024tofiscalyear2026,asdeterminedandcalculatedbythedepartment.
2199-39 (5)Iftheamountoftaxcreditsclaimedinacalendaryearunderthissection
2196+HCSHB1007 60 39 (5)Iftheamountoftaxcreditsclaimedinacalendaryearunderthissection
22002197 40exceedsthetotalcapdeterminedundersubdivision(4)ofthissubsection,taxcredits
22012198 41shallbeallowedbasedontheorderinwhichtheywereissued.
22022199 42 4.Notwithstandingtheprovisionsofsection32.057tothecontrary,thedepartment
22032200 43shalldeterminewhetheranytaxpayerfilingareportorreturnwiththedepartmentwhodidnot
22042201 44applyforthecreditauthorizedunderthissectionmayqualifyforthecreditand,ifso,
22052202 45determinesataxpayermayqualifyforthecredit,shallnotifysuchtaxpayerofhisorher
22062203 46potentialeligibility.Inmakingadeterminationofeligibilityunderthissection,the
22072204 47departmentshalluseanyappropriateandavailabledataincluding,butnotlimitedto,data
22082205 48availablefromtheInternalRevenueService,theU.S.DepartmentofTreasury,andstate
22092206 49incometaxreturnsfromprevioustaxyears.
22102207 50 5.Thedepartmentshallprepareanannualreportcontainingstatisticalinformation
22112208 51regardingthetaxcreditsissuedunderthissectionfortheprevioustaxyear,includingthetotal
22122209 52amountofrevenueexpended,thenumberofcreditsclaimed,andtheaveragevalueofthe
22132210 53creditsissuedtotaxpayerswhoseearnedincomefallswithinvariousincomeranges
22142211 54determinedbythedepartment.
22152212 55 6.Thedirectorofthedepartmentmaypromulgaterulesandregulationstoadminister
22162213 56theprovisionsofthissection.Anyruleorportionofarule,asthattermisdefinedinsection
22172214 57536.010,thatiscreatedundertheauthoritydelegatedinthissectionshallbecomeeffective
22182215 58onlyifitcomplieswithandissubjecttoalloftheprovisionsofchapter536and,ifapplicable,
22192216 59section536.028.Thissectionandchapter536arenonseverableandifanyofthepowers
22202217 60vestedwiththegeneralassemblypursuanttochapter536toreview,todelaytheeffective
22212218 61date,ortodisapproveandannularulearesubsequentlyheldunconstitutional,thenthegrant
22222219 62ofrulemakingauthorityandanyruleproposedoradoptedafterJanuary1,2023,shallbe
22232220 63invalidandvoid.
22242221 64 7.Taxcreditsauthorizedunderthissectionshallnotbesubjecttotherequirementsof
22252222 65sections135.800to135.830.
2226-HCS#2HB1007 61 66 8.Thetaxcreditsauthorizedunderthissectionshallnotbesubjectto
2223+66 8.Thetaxcreditsauthorizedunderthissectionshallnotbesubjectto
22272224 67appropriations,asprovidedundersubsection4ofsection135.835.
22282225 68 9.Undersection23.253oftheMissourisunsetact:
22292226 69 (1)Theprovisionsoftheprogramauthorizedunderthissectionshall
22302227 70automaticallysunsetonDecember31,2028,unlessreauthorizedbyanactofthe
22312228 71generalassembly;
22322229 72 (2)Ifsuchprogramisreauthorized,theprogramauthorizedunderthissection
22332230 73shallautomaticallysunsetsixyearsaftertheeffectivedateofthereauthorizationofthis
22342231 74section;
2235-75 (3)ThissectionshallterminateonSeptemberfirstofthecalendaryear
2232+HCSHB1007 61 75 (3)ThissectionshallterminateonSeptemberfirstofthecalendaryear
22362233 76immediatelyfollowingthecalendaryearinwhichtheprogramauthorizedunderthis
22372234 77sectionissunset;and
22382235 78 (4)Theprovisionsofthissubsectionshallnotbeconstruedtolimitorinanyway
22392236 79impairataxpayer'sabilitytoredeemtaxcreditsauthorizedonorbeforethedatethe
22402237 80programauthorizedunderthissectionexpires.
22412238 143.436.1.Thissectionshallbeknownandmaybecitedasthe"SALTParityAct".
22422239 2 2.Forthepurposesofthissection,thefollowingtermsshallmean:
22432240 3 (1)"Affectedbusinessentity",anypartnershiporScorporationthatelectstobe
22442241 4subjecttotaxpursuanttosubsection11ofthissection;
22452242 5 (2)"Directmember",amemberthatholdsaninterestdirectlyinanaffectedbusiness
22462243 6entity;
22472244 7 (3)"Indirectmember",amemberthatitselfholdsaninterest,throughadirector
22482245 8indirectmemberthatisapartnershiporanScorporation,inanaffectedbusinessentity;
22492246 9 (4)"Member":
22502247 10 (a)AshareholderofanScorporation;
22512248 11 (b)Apartnerinageneralpartnership,alimitedpartnership,oralimitedliability
22522249 12partnership;or
22532250 13 (c)AmemberofalimitedliabilitycompanythatistreatedasapartnershiporS
22542251 14corporationforfederalincometaxpurposes;
22552252 15 (5)"Partnership",thesamemeaningasprovidedin26U.S.C.Section7701(a)(2),but
22562253 16notincludingapubliclytradedpartnership.Thetermpartnershipshallincludealimited
22572254 17liabilitycompanythatistreatedasapartnershipforfederalincometaxpurposes;
22582255 18 (6)"Scorporation",acorporationorlimitedliabilitycompanythatistreatedasanS
22592256 19corporationforfederalincometaxpurposes;
22602257 20 (7)"Taxyear",thetaxyearofapartnershiporScorporationforfederalincometax
22612258 21purposes.
2262-HCS#2HB1007 62 22 3.(1)Notwithstandinganyprovisionoflawtothecontrary,ataxisherebyimposed
2259+22 3.(1)Notwithstandinganyprovisionoflawtothecontrary,ataxisherebyimposed
22632260 23oneachaffectedbusinessentitythatisapartnershipandthatisdoingbusinessinthisstate.
22642261 24Suchaffectedbusinessentityshall,atthetimethattheaffectedbusinessentity'sreturnisdue,
22652262 25payataxasdeterminedinthissubsection.Thesumoftheseparatelyandnonseparately
22662263 26computedincomeanddeductionitems,asdescribedin26U.S.C.Section702(a),ofthe
22672264 27affectedbusinessentity,totheextentderivedfromorconnectedwithsourceswithinthisstate,
22682265 28asdeterminedpursuanttosection143.455,shallbedecreasedbythepercentagededuction
22692266 29thatwouldbeallowabletotheownersundersection143.022,andincreasedordecreasedby
22702267 30anymodificationmadepursuanttosections143.121and143.141thatrelatestoanitemofthe
22712268 31affectedbusinessentity'sincome,gain,loss,ordeduction,totheextentderivedfromor
2272-32connectedwithsourceswithinthisstate,asdeterminedpursuanttosection143.455.The
2269+HCSHB1007 62 32connectedwithsourceswithinthisstate,asdeterminedpursuanttosection143.455.The
22732270 33resultingamountshallbethepartnership'sMissourinetincomeorloss,which,ifgreaterthan
22742271 34zero,shallbemultipliedbythehighestrateoftaxusedtodetermineaMissouriincometax
22752272 35liabilityforanindividualpursuanttosection143.011toarriveatthetaxdue.Anaffected
22762273 36businessentitypayingthetaxpursuanttothissubsectionshallincludewiththepaymentof
22772274 37suchtaxeseachreportprovidedtoamemberpursuanttosubsection7ofthissection.
22782275 38 (2)IfaMissourinetlossiscalculatedpursuanttosubdivision(1)ofthissubsection,
22792276 39suchnetlossmaybecarriedforwardtosucceedingtaxyearsforwhichtheaffectedbusiness
22802277 40entityelectstobesubjecttotaxpursuanttosubsection11ofthissectionuntilfullyused.
22812278 41 4.(1)Notwithstandinganyprovisionoflawtothecontrary,ataxisherebyimposed
22822279 42oneachaffectedbusinessentitythatisanScorporationandthatisdoingbusinessinthis
22832280 43state.Suchaffectedbusinessentityshall,atthetimethattheaffectedbusinessentity'stax
22842281 44returnisdue,payataxasdeterminedinthissubsection.Thesumoftheseparatelyand
22852282 45nonseparatelycomputedincomeanddeductionitems,asdescribedin26U.S.C.Section1366,
22862283 46oftheaffectedbusinessentity,totheextentderivedfromorconnectedwithsourceswithin
22872284 47thisstate,asdeterminedpursuanttosection143.455,shallbedecreasedbythepercentage
22882285 48deductionthatwouldbeallowabletotheownersundersection143.022,andincreasedor
22892286 49decreasedbyanymodificationmadepursuanttosections143.121and143.141thatrelatesto
22902287 50anitemoftheaffectedbusinessentity'sincome,gain,loss,ordeduction,totheextentderived
22912288 51fromorconnectedwithsourceswithinthisstate,asdeterminedpursuanttosection143.455.
22922289 52TheresultingamountshallbetheScorporation'sMissourinetincomeorloss,whichif
22932290 53greaterthanzero,shallbemultipliedbythehighestrateoftaxusedtodetermineaMissouri
22942291 54incometaxliabilityforanindividualpursuanttosection143.011toarriveatthetaxdue.An
22952292 55affectedbusinessentitypayingthetaxpursuanttothissubsectionshallincludewiththe
22962293 56paymentofsuchtaxeseachreportprovidedtoamemberpursuanttosubsection7ofthis
22972294 57section.
2298-HCS#2HB1007 63 58 (2)IfaMissourinetlossiscalculatedpursuanttosubdivision(1)ofthissection,such
2295+58 (2)IfaMissourinetlossiscalculatedpursuanttosubdivision(1)ofthissection,such
22992296 59netlossmaybecarriedforwardtosucceedingtaxyearsforwhichtheaffectedbusinessentity
23002297 60electstobesubjecttotaxpursuanttosubsection11ofthissectionuntilfullyused.
23012298 61 5.(1)Ifanaffectedbusinessentityisadirectorindirectmemberofanotheraffected
23022299 62businessentity,thememberaffectedbusinessentityshall,whencalculatingitsMissourinet
23032300 63incomeorlosspursuanttosubsection3or4ofthissection,subtractitsdistributiveshareof
23042301 64MissourinetincomeoradditsdistributiveshareofMissourinetlossfromtheaffected
23052302 65businessentityinwhichitisadirectorindirectmember.
23062303 66 (2)Anymemberofanaffectedbusinessentitymayelectnottohavetaximposed
23072304 67underthissectionwithrespecttotheaffectedbusinessentity'sseparatelyandnonseparately
23082305 68computeditemsdescribedinsubsection3or4ofthissection,asthecasemaybe,and
2309-69otherwisesubjecttotaxunderthissection,totheextentsuchitemsareallocabletothat
2306+HCSHB1007 63 69otherwisesubjecttotaxunderthissection,totheextentsuchitemsareallocabletothat
23102307 70member;however,anysuchopt-outelectionmadebyanonresidentmembershallalso
23112308 71complywithsubdivision(3)ofthissubsection.Ifandtotheextentoneormoremembersof
23122309 72theaffectedbusinessentitymakeanopt-outelection,theaffectedbusinessentityshall,in
23132310 73computingthetaxunderthissection,subtracttheopt-outmembers'allocableitemsdescribed
23142311 74intheprecedingsentence.Theaffectedbusinessentityshall,inapplyingtheprovisionsof
23152312 75thissection,takeintoaccounttheeffectofanyopt-outelectiononeachopt-outmember's
23162313 76shareofdeductions,credits,andanyotherrelevantitems.
23172314 77 (3)Anyopt-outelectionbyanonresidentmembershallbeeffectiveonlyifthat
23182315 78memberhasagreedto:
23192316 79 (a)Fileareturninaccordancewiththeprovisionsofsection143.181andtomake
23202317 80timelypaymentofalltaxesimposedonthememberbythisstatewithrespecttoincomeofthe
23212318 81affectedbusinessentity;and
23222319 82 (b)Besubjecttopersonaljurisdictioninthisstateforpurposesofthecollectionof
23232320 83incometaxes,togetherwithrelatedinterestandpenalties,imposedonthememberbythis
23242321 84statewithrespecttotheincomeoftheaffectedbusinessentity.
23252322 85 (4)Anopt-outelectionshallbeconsideredtimelyfiledforataxyear,andforall
23262323 86subsequenttaxyears,ifitisfiledbeforeorinconjunctionwiththeannualreturnforsuchtax
23272324 87yearundersection143.511.Ifamemberofanaffectedbusinessentitydoesnottimelyfilean
23282325 88opt-outelectionforataxyear,thatmembershallnotbeprecludedfromtimelyfilinganopt-
23292326 89outelectionforsubsequenttaxyears.
23302327 90 6.Anonresidentindividualwhoisamembershallnotberequiredtofileanincome
23312328 91taxreturnpursuanttothischapterforataxyearif,forsuchtaxyear,theonlysourceof
23322329 92incomederivedfromorconnectedwithsourceswithinthestateforsuchmember,orthe
23332330 93memberandthemember'sspouseifajointfederalincometaxreturnisorshallbefiled,is
2334-HCS#2HB1007 64 94fromoneormoreaffectedbusinessentitiesandsuchaffectedbusinessentityorentitiesfile
2331+94fromoneormoreaffectedbusinessentitiesandsuchaffectedbusinessentityorentitiesfile
23352332 95andpaythetaxdueunderthissection.
23362333 96 7.EachpartnershipandScorporationshallreporttoeachofitsmembers,foreachtax
23372334 97year,suchmember'sdirectproratashareofthetaximposedpursuanttothissectionbysuch
23382335 98partnershiporScorporationifitisanaffectedbusinessentityanditsindirectproratashareof
23392336 99thetaximposedonanyaffectedbusinessentityinwhichsuchaffectedbusinessentityisa
23402337 100directorindirectmember.Foreachtaxyearinwhichitissubjecttoataxunderthissection,
23412338 101theaffectedbusinessentityshallfileanaffectedbusinessentitytaxreturnonadate
23422339 102prescribedbythedirectorofrevenue.Thepaymentofanyinterest,additionstotax,or
23432340 103penaltiesshallnotbeconsideredpartofthetaximposedunderthissection.
23442341 104 8.(1)Eachmemberthatissubjecttothetaximposedpursuanttosection143.011or
23452342 105143.041shallbeentitledtoacreditagainstthetaximposedpursuanttosection143.011or
2346-106143.041.Suchcreditshallbeinanamountequaltosuchmember'sdirectandindirectpro
2343+HCSHB1007 64 106143.041.Suchcreditshallbeinanamountequaltosuchmember'sdirectandindirectpro
23472344 107ratashareofthetaxpaidpursuanttothissectionbyanyaffectedbusinessentityofwhich
23482345 108suchmemberisdirectlyorindirectlyamember.
23492346 109 (2)Iftheamountofthecreditauthorizedbythissubsectionexceedssuchmember's
23502347 110taxliabilityforthetaximposedpursuanttosection143.011or143.041,theexcessamount
23512348 111shallnotberefundedbutmaybecarriedforwardtoeachsucceedingtaxyearuntilsuchcredit
23522349 112isfullytaken.
23532350 113 9.(1)Eachmemberthatissubjecttothetaximposedpursuanttosection143.011as
23542351 114aresidentorpart-yearresidentofthisstateshallbeentitledtoacreditagainstthetaximposed
23552352 115pursuanttosection143.011forsuchmember'sdirectandindirectproratashareoftaxespaid
23562353 116toanotherstateoftheUnitedStatesortotheDistrictofColumbia,onincomeofany
23572354 117partnershiporScorporationofwhichsuchpersonisamemberthatisderivedtherefrom,
23582355 118providedthetaxespaidtoanotherstateoftheUnitedStatesortotheDistrictofColumbia
23592356 119resultsfromataxthatthedirectorofrevenuedeterminesissubstantiallysimilartothetax
23602357 120imposedpursuanttothissection.Anysuchcreditshallbecalculatedinamannertobe
23612358 121prescribedbythedirectorofrevenue,providedsuchcalculationisconsistentwiththe
23622359 122provisionsofthissection,andfurtherprovidedthatthelimitationsprovidedinsubsection2of
23632360 123section143.081shallapplytothecreditauthorizedbythissubsection.
23642361 124 (2)Iftheamountofthecreditauthorizedbythissubsectionexceedssuchmember's
23652362 125taxliabilityforthetaximposedpursuanttosection143.011,theexcessamountshallnotbe
23662363 126refundedandshallnotbecarriedforward.
23672364 127 10.(1)Eachcorporationorfiduciarythatissubjecttothetaximposedpursuantto
23682365 128section143.061or143.071andthatisamember,or,inthecaseofafiduciarysubjecttotax
23692366 129undersection143.061,isthefiduciaryofanestateortrustthatisamember,shallbeentitled
23702367 130toacreditagainstthetaximposedpursuanttosection143.071.Suchcreditshallbeinan
2371-HCS#2HB1007 65 131amountequaltosuchcorporation's,estate's,ortrust'sdirectandindirectproratashareofthe
2368+131amountequaltosuchcorporation's,estate's,ortrust'sdirectandindirectproratashareofthe
23722369 132taxpaidpursuanttothissectionbyanyaffectedbusinessentityofwhichsuchcorporation,
23732370 133estate,ortrustisdirectlyorindirectlyamember.Suchcreditshallbeappliedafterallother
23742371 134credits.
23752372 135 (2)Iftheamountofthecreditauthorizedbythissubsectionexceedssuch
23762373 136corporation'sorfiduciary'staxliabilityforthetaximposedpursuanttosection143.061or
23772374 137143.071,theexcessamountshallnotberefundedbutmaybecarriedforwardtoeach
23782375 138succeedingtaxyearuntilsuchcreditisfullytaken.
23792376 139 11.ApartnershiporanScorporationmayelecttobecomeanaffectedbusinessentity
23802377 140thatisrequiredtopaythetaxpursuanttothissection.Aseparateelectionshallbemadefor
23812378 141eachtaxyear.Suchelectionshallbemadeonsuchformandinsuchmannerasthedirectorof
2382-142revenuemayprescribebyrule.Anelectionmadepursuanttothissubsectionshallbesigned
2379+HCSHB1007 65 142revenuemayprescribebyrule.Anelectionmadepursuanttothissubsectionshallbesigned
23832380 143by:
23842381 144 (1)Eachmemberoftheelectingentitywhoisamemberatthetimetheelectionis
23852382 145filed;
23862383 146 (2)Anyofficer,manager,ormemberoftheelectingentitywhoisauthorizedtomake
23872384 147theelectionandwhoatteststohavingsuchauthorizationunderpenaltyofperjury;or
23882385 148 (3)Thedesignatedaffectedbusinessentityrepresentativeoftheelectingentity.
23892386 149 12.Theprovisionsofsections143.425and143.601shallapplytoanymodifications
23902387 150madetoanaffectedbusinessentity'sfederalreturn,andsuchaffectedbusinessentityshallpay
23912388 151anyresultingunderpaymentoftaxtotheextentnotalreadypaidpursuanttosection143.425.
23922389 152 13.(1)Withrespecttoanactionrequiredorpermittedtobetakenbyanaffected
23932390 153businessentitypursuanttothissection,aproceedingundersection143.631for
23942391 154reconsiderationbythedirectorofrevenue,anappealtotheadministrativehearing
23952392 155commission,orareviewbythejudiciarywithrespecttosuchaction,apartnershiporS
23962393 156corporationshalldesignateanaffectedbusinessentityrepresentativeforthetaxyear,and
23972394 157suchaffectedbusinessentityrepresentativeshallhavethesoleauthoritytoactonbehalfof
23982395 158theaffectedbusinessentity,andtheaffectedbusinessentity'smembersshallbeboundby
23992396 159thoseactions.
24002397 160 (2)Thedepartmentofrevenuemayestablishreasonablequalificationsand
24012398 161proceduresfordesignatingapersontobetheaffectedbusinessentityrepresentative.
24022399 162 (3)Theaffectedbusinessentityrepresentativeshallbeconsideredanauthorized
24032400 163representativeoftheaffectedbusinessentityanditsmembersundersection32.057forthe
24042401 164purposesofcompliancewiththissection,orparticipatinginaproceedingdescribedin
24052402 165subdivision(1)ofthissubsection.
24062403 166 14.Theprovisionsofthissectionshallonlyapplytotaxyearsendingonorafter
24072404 167December31,2022.
2408-HCS#2HB1007 66 168 15.Thetaxcreditsauthorizedundersubsections8,9,and10ofthissectionshall
2405+168 15.Thetaxcreditsauthorizedundersubsections8,9,and10ofthissectionshall
24092406 169notbesubjecttoappropriations,asprovidedundersubsection4ofsection135.835.
24102407 170 16.Thedepartmentofrevenuemaypromulgaterulestoimplementtheprovisionsof
24112408 171thissection.Anyruleorportionofarule,asthattermisdefinedinsection536.010,thatis
24122409 172createdundertheauthoritydelegatedinthissectionshallbecomeeffectiveonlyifitcomplies
24132410 173withandissubjecttoalloftheprovisionsofchapter536and,ifapplicable,section536.028.
24142411 174Thissectionandchapter536arenonseverableandifanyofthepowersvestedwiththe
24152412 175generalassemblypursuanttochapter536toreview,todelaytheeffectivedate,orto
24162413 176disapproveandannularulearesubsequentlyheldunconstitutional,thenthegrantof
24172414 177rulemakingauthorityandanyruleproposedoradoptedafterAugust28,2022,shallbeinvalid
24182415 178andvoid.
2419-143.471.1.AnScorporation,asdefinedbySection1361(a)(1)oftheInternal
2416+HCSHB1007 66 143.471.1.AnScorporation,asdefinedbySection1361(a)(1)oftheInternal
24202417 2RevenueCode,shallnotbesubjecttothetaxesimposedbysection143.071,orothersections
24212418 3imposingincometaxoncorporations.
24222419 4 2.AshareholderofanScorporationshalldeterminesuchshareholder'sScorporation
24232420 5modificationandproratashare,includingitscharacter,byapplyingthefollowing:
24242421 6 (1)Anymodificationdescribedinsections143.121and143.141whichrelatestoan
24252422 7itemofScorporationincome,gain,loss,ordeductionshallbemadeinaccordancewiththe
24262423 8shareholder'sproratashare,forfederalincometaxpurposes,oftheitemtowhichthe
24272424 9modificationrelates.Whereashareholder'sproratashareofanysuchitemisnotrequiredto
24282425 10betakenintoaccountseparatelyforfederalincometaxpurposes,theshareholder'sprorata
24292426 11shareofsuchitemshallbedeterminedinaccordancewithhisproratashare,forfederal
24302427 12incometaxpurposes,ofScorporationtaxableincomeorlossgenerally;
24312428 13 (2)EachitemofScorporationincome,gain,loss,ordeductionshallhavethesame
24322429 14characterforashareholderpursuanttosections143.005to143.998asithasforfederal
24332430 15incometaxpurposes.Whereanitemisnotcharacterizedforfederalincometaxpurposes,it
24342431 16shallhavethesamecharacterforashareholderasifrealizeddirectlyfromthesourcefrom
24352432 17whichrealizedbytheScorporationorincurredinthesamemannerasincurredbytheS
24362433 18corporation.
24372434 19 3.AnonresidentshareholderofanScorporationshalldeterminesuchshareholder's
24382435 20Missourinonresidentadjustedgrossincomeandhisorhernonresidentshareholder
24392436 21modificationbyapplyingtheprovisionsofthissubsection.Itemsshallbedeterminedto
24402437 22befromsourceswithinthisstatepursuanttoregulationsofthedirectorofrevenueinamanner
24412438 23consistentwiththedivisionofincomeprovisionsofsection143.451,section143.461,or
24422439 24section32.200(MultistateTaxCompact).Indeterminingtheadjustedgrossincomeofa
24432440 25nonresidentshareholderofanyScorporation,thereshallbeincludedonlythatpartderived
24442441 26fromorconnectedwithsourcesinthisstateoftheshareholder'sproratashareofitemsofS
2445-HCS#2HB1007 67 27corporationincome,gain,lossordeductionenteringintoshareholder'sfederaladjustedgross
2442+27corporationincome,gain,lossordeductionenteringintoshareholder'sfederaladjustedgross
24462443 28income,assuchpartisdeterminedpursuanttoregulationsprescribedbythedirectorof
24472444 29revenueinaccordancewiththegeneralrulesinsection143.181.Anymodificationdescribed
24482445 30insubsections2and3ofsection143.121andinsection143.141,whichrelatestoanitemofS
24492446 31corporationincome,gain,loss,ordeductionshallbemadeinaccordancewiththe
24502447 32shareholder'sproratashare,forfederalincometaxpurposes,oftheitemtowhichthe
24512448 33modificationrelates,butlimitedtotheportionofsuchitemderivedfromorconnectedwith
24522449 34sourcesinthisstate.
24532450 35 4.Notwithstandingsubsection3ofthissectiontothecontrary,foralltaxyears
24542451 36beginningonorafterJanuary1,2020,theitemsreferredtointhatsubsectionshallbe
24552452 37determinedtobefromsourceswithinthisstatepursuanttoregulationsofthedirectorof
2456-38revenueinamannerconsistentwiththedivisionofincomeprovisionsofsection143.455and
2453+HCSHB1007 67 38revenueinamannerconsistentwiththedivisionofincomeprovisionsofsection143.455and
24572454 39section143.461.
24582455 40 5.ThedirectorofrevenueshallpermitScorporationstofilecompositereturnsandto
24592456 41makecompositepaymentsoftaxonbehalfofitsnonresidentshareholdersnototherwise
24602457 42requiredtofileareturn.Ifthenonresidentshareholder'sfilingrequirementsresultsolely
24612458 43fromoneormoreinterestsinanyotherpartnershipsorsubchapterScorporations,that
24622459 44nonresidentshareholdermaybeincludedinthecompositereturn.
24632460 45 6.IfanScorporationpaysorcreditsamountstoanyofitsnonresidentindividual
24642461 46shareholdersasdividendsorastheirshareoftheScorporation'sundistributedtaxableincome
24652462 47forthe[taxable] taxyear,theScorporationshalleithertimelyfilewiththedepartmentof
24662463 48revenueanagreementasprovidedinsubsection7ofthissectionorwithholdMissouriincome
24672464 49taxasprovidedinsubsection8ofthissection.AnScorporationthattimelyfilesan
24682465 50agreementasprovidedinsubsection7ofthissectionwithrespecttoanonresident
24692466 51shareholderfora[taxable] taxyearshallbeconsideredtohavetimelyfiledsuchan
24702467 52agreementforeachsubsequent[taxable] taxyear.AnScorporationthatdoesnottimelyfile
24712468 53suchanagreementfora[taxable] taxyearshallnotbeprecludedfromtimelyfilingsuchan
24722469 54agreementforsubsequent[taxable] taxyears.AnScorporationisnotrequiredtodeductand
24732470 55withholdMissouriincometaxforanonresidentshareholderif:
24742471 56 (1)Thenonresidentshareholdernototherwiserequiredtofileareturnagreestohave
24752472 57theMissouriincometaxduepaidaspartoftheScorporation'scompositereturn;
24762473 58 (2)ThenonresidentshareholdernototherwiserequiredtofileareturnhadMissouri
24772474 59assignablefederaladjustedgrossincomefromtheScorporationoflessthantwelvehundred
24782475 60dollars;
24792476 61 (3)TheScorporationisliquidatedorterminated;
24802477 62 (4)Incomewasgeneratedbyatransactionrelatedtoterminationorliquidation;or
2481-HCS#2HB1007 68 63 (5)Nocashorotherpropertywasdistributedinthecurrentandprior[taxable] tax
2478+63 (5)Nocashorotherpropertywasdistributedinthecurrentandprior[taxable] tax
24822479 64year.
24832480 65 7.Theagreementreferredtoinsubdivision(1)ofsubsection6ofthissectionisan
24842481 66agreementofanonresidentshareholderoftheScorporationto:
24852482 67 (1)Fileareturninaccordancewiththeprovisionsofsection143.481andtomake
24862483 68timelypaymentofalltaxesimposedontheshareholderbythisstatewithrespecttoincomeof
24872484 69theScorporation;and
24882485 70 (2)Besubjecttopersonaljurisdictioninthisstateforpurposesofthecollectionof
24892486 71incometaxes,togetherwithrelatedinterestandpenalties,imposedontheshareholderbythis
24902487 72statewithrespecttotheincomeoftheScorporation.
24912488 73
2492-74Theagreementwillbeconsideredtimelyfiledfora[taxable] taxyear,andforallsubsequent
2489+HCSHB1007 68 74Theagreementwillbeconsideredtimelyfiledfora[taxable] taxyear,andforallsubsequent
24932490 75[taxable] taxyears,ifitisfiledatorbeforethetimetheannualreturnforsuch[taxable] tax
24942491 76yearisrequiredtobefiledpursuanttosection143.511.
24952492 77 8.TheamountofMissouriincometaxtobewithheldisdeterminedbymultiplying
24962493 78theamountofdividendsorundistributedincomeallocabletoMissourithatispaidorcredited
24972494 79toanonresidentshareholderduringthe[taxable] taxyearbythehighestrateusedto
24982495 80determineaMissouriincometaxliabilityforanindividual,exceptthattheamountofthetax
24992496 81withheldmaybedeterminedbasedonwithholdingtablesprovidedbythedirectorofrevenue
25002497 82iftheshareholdersubmitsaMissouriwithholdingallowancecertificate.
25012498 83 9.AnScorporationshallbeentitledtorecoverforashareholderonwhosebehalfa
25022499 84taxpaymentwasmadepursuanttothissection,ifsuchshareholderhasnotaxliability.
25032500 85 10.WithrespecttoScorporationsthatarebanksorbankholdingcompanies,apro
25042501 86ratashareofthetaxcreditforthetaxpayablepursuanttochapter148shallbeallowedagainst
25052502 87eachScorporationshareholders'stateincometaxasfollows,providedthebankotherwise
25062503 88complieswithsection148.112:
25072504 89 (1)Thecreditallowedbythissubsectionshallbeequaltothebanktaxcalculated
25082505 90pursuanttochapter148basedonbankincomein1999andafter,onabankthatmakesan
25092506 91electionpursuantto26U.S.C.Section1362,andsuchcreditshallbeallocatedtothe
25102507 92qualifyingshareholderaccordingtostockownership,determinedbymultiplyingafraction,
25112508 93wherethenumeratoristheshareholder'sstock,andthedenominatoristhetotalstockissued
25122509 94bysuchbankorbankholdingcompany;
25132510 95 (2)Thetaxcreditauthorizedinthissubsectionshallbepermittedonlytothe
25142511 96shareholdersthatqualifyasScorporationshareholders,providedthestockatalltimesduring
25152512 97thetaxableperiodqualifiesasScorporationstockasdefinedin26U.S.C.Section1361,and
25162513 98suchstockisheldbytheshareholderduringthetaxableperiod.Thecreditcreatedbythis
25172514 99sectiononayearlybasisisavailabletoeachqualifyingshareholder,includingshareholders
2518-HCS#2HB1007 69 100filingjointreturns.Abankholdingcompanyisnotallowedthiscredit,exceptthat,such
2515+100filingjointreturns.Abankholdingcompanyisnotallowedthiscredit,exceptthat,such
25192516 101creditshallflowthroughtosuchbankholdingcompany'squalifiedshareholders,andbe
25202517 102allocatedtosuchshareholdersunderthesameconditions;and
25212518 103 (3)Intheeventsuchshareholdercannotuseallorpartofthetaxcreditinthetaxable
25222519 104periodofreceipt,suchshareholdermaycarryforwardsuchtaxcreditforaperiodofthelesser
25232520 105offiveyearsoruntilused,providedsuchcreditsareusedassoonasthetaxpayerhasMissouri
25242521 106taxableincome.
25252522 107 11.WithrespecttoScorporationsthatareassociations,aproratashareofthetax
25262523 108creditforthetaxpayableunderchapter148shallbeallowedagainsteachScorporation
25272524 109shareholders'stateincometaxasfollows,providedtheassociationotherwisecomplieswith
25282525 110section148.655:
2529-111 (1)Thecreditallowedbythissubsectionshallbeequaltothesavingsandloan
2526+HCSHB1007 69 111 (1)Thecreditallowedbythissubsectionshallbeequaltothesavingsandloan
25302527 112associationtaxcalculatedunderchapter148basedonthecomputationsprovidedinsection
25312528 113148.630onanassociationthatmakesanelectionunder26U.S.C.Section1362,andsuch
25322529 114creditshallbeallocatedtothequalifyingshareholderaccordingtostockownership,
25332530 115determinedbymultiplyingafraction,wherethenumeratoristheshareholder'sstock,andthe
25342531 116denominatoristhetotalstockissuedbytheassociation;
25352532 117 (2)Thetaxcreditauthorizedinthissubsectionshallbepermittedonlytothe
25362533 118shareholdersthatqualifyasScorporationshareholders,providedthestockatalltimesduring
25372534 119thetaxableperiodqualifiesasScorporationstockasdefinedin26U.S.C.Section1361,and
25382535 120suchstockisheldbytheshareholderduringthetaxableperiod.Thecreditcreatedbythis
25392536 121sectiononayearlybasisisavailabletoeachqualifyingshareholder,includingshareholders
25402537 122filingjointreturns.Asavingsandloanassociationholdingcompanyisnotallowedthis
25412538 123credit,exceptthat,suchcreditshallflowthroughtosuchsavingsandloanassociationholding
25422539 124company'squalifiedshareholders,andbeallocatedtosuchshareholdersunderthesame
25432540 125conditions;and
25442541 126 (3)Intheeventsuchshareholdercannotuseallorpartofthetaxcreditinthetaxable
25452542 127periodofreceipt,suchshareholdermaycarryforwardsuchtaxcreditforaperiodofthelesser
25462543 128offiveyearsoruntilused,providedsuchcreditsareusedassoonasthetaxpayerhasMissouri
25472544 129taxableincome.
25482545 130 12.WithrespecttoScorporationsthatarecreditinstitutions,aproratashareofthe
25492546 131taxcreditforthetaxpayableunderchapter148shallbeallowedagainsteachScorporation
25502547 132shareholders'stateincometaxasfollows,providedthecreditinstitutionotherwisecomplies
25512548 133withsection148.657:
25522549 134 (1)Thecreditallowedbythissubsectionshallbeequaltothecreditinstitutiontax
25532550 135calculatedunderchapter148basedonthecomputationsprovidedinsection148.150ona
25542551 136creditinstitutionthatmakesanelectionunder26U.S.C.Section1362,andsuchcreditshall
2555-HCS#2HB1007 70 137beallocatedtothequalifyingshareholderaccordingtostockownership,determinedby
2552+137beallocatedtothequalifyingshareholderaccordingtostockownership,determinedby
25562553 138multiplyingafraction,wherethenumeratoristheshareholder'sstock,andthedenominatoris
25572554 139thetotalstockissuedbysuchcreditinstitution;
25582555 140 (2)Thetaxcreditauthorizedinthissubsectionshallbepermittedonlytothe
25592556 141shareholdersthatqualifyasScorporationshareholders,providedthestockatalltimesduring
25602557 142thetaxableperiodqualifiesasScorporationstockasdefinedin26U.S.C.Section1361,and
25612558 143suchstockisheldbytheshareholderduringthetaxableperiod.Thecreditcreatedbythis
25622559 144sectiononayearlybasisisavailabletoeachqualifyingshareholder,includingshareholders
25632560 145filingjointreturns.Acreditinstitutionholdingcompanyisnotallowedthiscredit,except
25642561 146that,suchcreditshallflowthroughtosuchcreditinstitutionholdingcompany'squalified
25652562 147shareholders,andbeallocatedtosuchshareholdersunderthesameconditions;and
2566-148 (3)Intheeventsuchshareholdercannotuseallorpartofthetaxcreditinthetaxable
2563+HCSHB1007 70 148 (3)Intheeventsuchshareholdercannotuseallorpartofthetaxcreditinthetaxable
25672564 149periodofreceipt,suchshareholdermaycarryforwardsuchtaxcreditforaperiodofthelesser
25682565 150offiveyearsoruntilused,providedsuchcreditsareusedassoonasthetaxpayerhasMissouri
25692566 151taxableincome.
25702567 152 13.(1)ForallfiscalyearsbeginningonorafterJuly1,2026,thecumulative
25712568 153amountoftaxcreditsissuedannuallytoalltaxpayersbythedepartmentunder
25722569 154subsections10,11,and12ofthissectionshallnotexceedthetotalcapamount,which
25732570 155shallbeanamountequaltothehighestannualamountoftaxcreditsissuedinanyone
25742571 156previousfiscalyear,fromfiscalyear2023tofiscalyear2025,asdeterminedand
25752572 157calculatedbythedepartment.
25762573 158 (2)Iftheamountoftaxcreditsclaimedinafiscalyearundersubsections10,11,
25772574 159and12ofthissectionexceedsthetotalcapdeterminedundersubdivision(1)ofthis
25782575 160subsection,taxcreditsshallbeallowedbasedontheorderinwhichtheywereissued.
25792576 161 14.Thetaxcreditsauthorizedundersubsections10,11,and12ofthissection
25802577 162shallnotbesubjecttoappropriations,asprovidedundersubsection4ofsection135.835.
25812578 163 15.Undersection23.253oftheMissourisunsetact:
25822579 164 (1)Theprovisionsofthetaxcreditprogramsauthorizedundersubsections10,
25832580 16511,and12ofthissectionshallautomaticallysunsetonAugust28,2031,unless
25842581 166reauthorizedbyanactofthegeneralassembly;
25852582 167 (2)Ifsuchprogramsarereauthorized,thetaxcreditprogramsauthorizedunder
25862583 168subsections10,11,and12ofthissectionshallautomaticallysunsetsixyearsafterthe
25872584 169effectivedateofthereauthorizationofthissection;
25882585 170 (3)Theprovisionsofthetaxcreditprogramsauthorizedundersubsections10,
25892586 17111,and12ofthissectionshallterminateonSeptemberfirstofthecalendaryear
25902587 172immediatelyfollowingthecalendaryearinwhichtheprogramsauthorizedunder
25912588 173subsections10,11,and12ofthissectionaresunset;and
2592-HCS#2HB1007 71 174 (4)Theprovisionsofthissubsectionshallnotbeconstruedtolimitorinanyway
2589+174 (4)Theprovisionsofthissubsectionshallnotbeconstruedtolimitorinanyway
25932590 175impairataxpayer'sabilitytoredeemtaxcreditsauthorizedonorbeforethedatethe
25942591 176programsauthorizedunderthissectionexpire.
25952592 148.030.1.Everybankinginstitutionshallbesubjecttoanannualtaxforthe
25962593 2privilegeofexercisingitscorporatefranchiseswithinthestatedeterminedinaccordancewith
25972594 3subsection2ofthissection.
25982595 4 2.Theannualfranchisetaximposedbysubsection1ofthissectionshallbethesum
25992596 5oftheamountsdeterminedundersubdivisions(1)and(2)ofthissubsection:
26002597 6 (1)For[taxable] taxyearsbeginningafterDecember31,1986,theamount
26012598 7determinedunderthissubdivisionshallbedeterminedinaccordancewithsection147.010;
2602-8 (2)Theamountdeterminedunderthissubdivisionshallbesevenpercentofthe
2599+HCSHB1007 71 8 (2)Theamountdeterminedunderthissubdivisionshallbesevenpercentofthe
26032600 9taxpayer'snetincomefortheincomeperiod,fromwhichproductshallbesubtractedthesum
26042601 10oftheamountdeterminedundersubdivision(1)ofthissubsectionandthecreditsallowable
26052602 11undersubsection3ofthissection.However,theamountdeterminedunderthissubdivision
26062603 12shallnotbelessthanzero.
26072604 13 3.Forpurposesofsubdivision(2)ofsubsection2ofthissection,theallowablecredits
26082605 14arealltaxespaidtothestateofMissourioranypoliticalsubdivisionthereofduringthe
26092606 15relevantincomeperiod,including,withoutlimitation,stateandlocalsalesandusetaxespaid
26102607 16toseller's,vendors,orthestateofMissouriwithrespecttothetaxpayer'spurchasesof
26112608 17tangiblepersonalpropertyandtheservicesenumeratedinchapter144.However,ataxpayer
26122609 18shallnotbeentitledtocreditsfortaxesonrealestateandtangiblepersonalpropertyownedby
26132610 19thetaxpayerandheldforleaseorrentaltoothers,contributionspaidpursuanttothe
26142611 20unemploymentcompensationtaxlawofMissouri,taxesimposedbythislaw,taxesimposed
26152612 21underchapter147for[taxable] taxyearsafter1985,orstateandlocalsalesandusetaxes
26162613 22collectedbythetaxpayeronitssalesoftangiblepersonalpropertyandtheservices
26172614 23enumeratedinchapter144.
26182615 24 4.Thetaxcreditsauthorizedunderthissectionshallnotbesubjectto
26192616 25appropriations,asprovidedundersubsection4ofsection135.835.
26202617 148.330.1.Everysuchcompanyshall,onorbeforethefirstdayofMarchineach
26212618 2year,makeareturn,verifiedbytheaffidavitofitspresidentandsecretary,orotherauthorized
26222619 3officers,tothedirectorofthedepartmentofcommerceandinsurancestatingtheamountofall
26232620 4premiumsreceivedonaccountofpoliciesissuedinthisstatebythecompany,whetherincash
26242621 5orinnotes,duringtheyearendingonthethirty-firstdayofDecember,nextpreceding.Upon
26252622 6receiptofsuchreturnsthedirectorofthedepartmentofcommerceandinsuranceshallverify
26262623 7thesameandcertifytheamountoftaxduefromthevariouscompaniesonthebasisandatthe
26272624 8ratesprovidedinsection148.320,andshallcertifythesametothedirectorofrevenue
2628-HCS#2HB1007 72 9togetherwiththeamountofthequarterlyinstallmentstobemadeasprovidedinsubsection2
2625+9togetherwiththeamountofthequarterlyinstallmentstobemadeasprovidedinsubsection2
26292626 10ofthissection,onorbeforethethirtiethdayofAprilofeachyear.
26302627 11 2.BeginningJanuary1,1983,theamountofthetaxdueforthatcalendaryearand
26312628 12eachsucceedingcalendaryearthereaftershallbepaidinfourapproximatelyequalestimated
26322629 13quarterlyinstallments,andafifthreconcilinginstallment.Thefirstfourinstallmentsshallbe
26332630 14baseduponthetaxfortheimmediatelypreceding[taxable] taxyearendingonthethirty-first
26342631 15dayofDecember,nextpreceding.Thequarterlyinstallmentsshallbemadeonthefirstdayof
26352632 16March,thefirstdayofJune,thefirstdayofSeptemberandthefirstdayofDecember.
26362633 17Immediatelyafterreceivingcertificationfromthedirectorofthedepartmentofcommerce
26372634 18andinsuranceoftheamountoftaxduefromthevariouscompaniesthedirectorofrevenue
26382635 19shallnotifyandassesseachcompanytheamountoftaxesonitspremiumsforthecalendar
2639-20yearendingonthethirty-firstdayofDecember,nextpreceding.Thedirectorofrevenueshall
2636+HCSHB1007 72 20yearendingonthethirty-firstdayofDecember,nextpreceding.Thedirectorofrevenueshall
26402637 21alsonotifyandassesseachcompanytheamountoftheestimatedquarterlyinstallmentstobe
26412638 22madeforthecalendaryear.Iftheamountoftheactualtaxdueforanyyearexceedsthetotal
26422639 23oftheinstallmentsmadeforsuchyear,thebalanceofthetaxdueshallbepaidonthefirstday
26432640 24ofJuneoftheyearfollowing,togetherwiththeregularquarterlypaymentdueatthattime.If
26442641 25thetotalamountofthetaxactuallydueislessthanthetotalamountoftheinstallments
26452642 26actuallypaid,theamountbywhichtheamountpaidexceedstheamountdueshallbecredited
26462643 27againstthetaxforthefollowingyearanddeductedfromthequarterlyinstallmentotherwise
26472644 28dueonthefirstdayofJune.IftheMarchfirstquarterlyinstallmentmadebyacompanyis
26482645 29lessthantheamountassessedbythedirectorofrevenue,thedifferencewillbedueonJune
26492646 30first,butnointerestwillaccruetothestateonthedifferenceunlesstheamountpaidbythe
26502647 31companyislessthaneightypercentofone-fourthofthetotalamountoftaxassessedbythe
26512648 32directorofrevenuefortheimmediatelypreceding[taxable] taxyear.Thestatetreasurer,
26522649 33uponreceivingthemoneyspaidasataxuponsuchpremiumstothedirectorofrevenue,shall
26532650 34placethemoneystothecreditofafundtobeknownas"TheCountyStockInsuranceFund",
26542651 35whichisherebycreatedandestablished.Thecountystockinsurancefundshallbeincludedin
26552652 36thecalculationoftotalstaterevenuepursuanttoArticleX,Section18,oftheMissouri
26562653 37Constitution.
26572654 38 3.Iftheestimatedquarterlytaxinstallmentsarenotsopaid,thedirectorofrevenue
26582655 39shallcertifysuchfacttothedirectorofthedepartmentofcommerceandinsurancewhoshall
26592656 40thereaftersuspendsuchdelinquentcompanyorcompaniesfromthefurthertransactionof
26602657 41businessinthisstateuntilsuchtaxesshallbepaidandsuchcompaniesshallbesubjecttothe
26612658 42provisionsofsections148.410to148.461.
26622659 43 4.OnorbeforethefirstdayofSeptemberofeachyearthecommissionerof
26632660 44administrationshallapportionallmoneysinthecountystockinsurancefundtothegeneral
26642661 45revenuefundofthestate,tothecountytreasurerandtothetreasureroftheschooldistrictin
2665-HCS#2HB1007 73 46whichtheprincipalofficeofthecompanypayingthesameislocated.Allpremiumtax
2662+46whichtheprincipalofficeofthecompanypayingthesameislocated.Allpremiumtax
26662663 47creditsdescribedin[sections135.500to135.529and]sections348.430and348.432shall
26672664 48onlyreducetheamountsapportionedtothegeneralrevenuefundofthestateandshallnot
26682665 49reduceanymoneysapportionedtoanycountytreasurerortothetreasureroftheschool
26692666 50districtinwhichtheprincipalofficeofthecompanypayingthesameislocated.
26702667 51Apportionmentsshallbemadeinthesameratiowhichtheratesoflevyforthesameyear
26712668 52forstatepurposes,forcountypurposes,andforallschooldistrictpurposes,beartoeachother;
26722669 53providedthatanyproceedsfromsuchtaxforprioryearsremainingonhandinthehandsof
26732670 54thecountycollectororcountytreasurerundistributedontheeffectivedateofsections148.310
26742671 55to148.460andanyproceedsofsuchtaxforprioryearscollectedthereaftershallbe
2675-56distributedandpaidinaccordancewiththeprovisionsofsuchsections.Whenevertheword
2672+HCSHB1007 73 56distributedandpaidinaccordancewiththeprovisionsofsuchsections.Whenevertheword
26762673 57"county"occurshereinitshallbeconstruedtoincludethecityofSt.Louis.
26772674 148.350.1.Everysuchcompanyorassociationshall,onorbeforethefirstdayof
26782675 2Marchineachyear,makeareturn,verifiedbytheaffidavitofitspresidentandsecretaryor
26792676 3otherauthorizedofficers,tothedirectorofthedepartmentofcommerceandinsurancestating
26802677 4theamountofallpremiumsreceivedonaccountofpoliciesissuedinthisstatebysuch
26812678 5company,whetherincashorinnotes,duringtheyearendingonthethirty-firstdayof
26822679 6December,nextpreceding.Uponreceiptofsuchreturns,thedirectorofthedepartmentof
26832680 7commerceandinsuranceshallverifythesameandcertifytheamountoftaxduefromthe
26842681 8variouscompaniesonthebasisandattherateprovidedinsection148.340,andshallcertify
26852682 9thesametothedirectorofrevenuetogetherwiththeamountofthequarterlyinstallmentsto
26862683 10bemadeasprovidedinsubsection2ofthissection,onorbeforethethirtiethdayofAprilof
26872684 11eachyear.
26882685 12 2.BeginningJanuary1,1983,theamountofthetaxdueforthatcalendaryearand
26892686 13eachsucceedingcalendaryearthereaftershallbepaidinfourapproximatelyequalestimated
26902687 14quarterlyinstallmentsandafifthreconcilinginstallment.Thefirstfourinstallmentsshallbe
26912688 15baseduponthetaxassessedfortheimmediatelypreceding[taxable] taxyearendingonthe
26922689 16thirty-firstdayofDecember,nextpreceding.Thequarterlyinstallmentshallbemadeonthe
26932690 17firstdayofMarch,thefirstdayofJune,thefirstdayofSeptember,andthefirstdayof
26942691 18December.Immediatelyafterreceivingfromthedirectorofthedepartmentofcommerceand
26952692 19insurance,certificationoftheamountoftaxduefromthevariouscompanies,thedirectorof
26962693 20revenueshallnotifyandassesseachcompanytheamountoftaxesonitspremiumsforthe
26972694 21calendaryearendingonthethirty-firstdayofDecember,nextpreceding.Thedirectorof
26982695 22revenueshallalsonotifyandassesseachcompanytheamountoftheestimatedquarterly
26992696 23installmentstobemadeforthecalendaryear.Iftheamountoftheactualtaxdueforanyyear
27002697 24exceedsthetotaloftheinstallmentsmadeforsuchyear,thebalanceofthetaxdueshallbe
27012698 25paidonthefirstdayofJuneofthefollowingyear,togetherwiththeregularquarterly
2702-HCS#2HB1007 74 26installmentdueatthattime.Ifthetotalamountofthetaxactuallydueislessthanthetotal
2699+26installmentdueatthattime.Ifthetotalamountofthetaxactuallydueislessthanthetotal
27032700 27amountoftheinstallmentsactuallypaid,theamountbywhichtheamountpaidexceedsthe
27042701 28amountdueshallbecreditedagainstthetaxforthefollowingyearanddeductedfromthe
27052702 29quarterlyinstallmentotherwisedueonthefirstdayofJune.IftheMarchfirstquarterly
27062703 30installmentmadebyacompanyislessthantheamountassessedbythedirectorofrevenue,
27072704 31thedifferencewillbedueonJunefirst,butnointerestwillaccruetothestateonthe
27082705 32differenceunlesstheamountpaidbythecompanyislessthaneightypercentofone-fourthof
27092706 33thetotalamountoftaxassessedbythedirectorofrevenuefortheimmediatelypreceding
27102707 34[taxable] taxyear.Iftheestimatedquarterlytaxinstallmentsarenotsopaid,thedirectorof
27112708 35revenueshallcertifysuchfacttothedirectorofthedepartmentofcommerceandinsurance
2712-36whoshallthereaftersuspendsuchdelinquentcompanyorcompaniesfromthefurther
2709+HCSHB1007 74 36whoshallthereaftersuspendsuchdelinquentcompanyorcompaniesfromthefurther
27132710 37transactionofbusinessinthisstateuntilsuchtaxesshallbepaid,andsuchcompaniesshallbe
27142711 38subjecttotheprovisionsofsections148.410to148.461.
27152712 39 3.Uponreceivingsuchmoneyfromthedirectorofrevenue,thestatetreasurershall
27162713 40receiptone-halfthereofintothegeneralrevenuefundofthestate,andheshallplacethe
27172714 41remainderofsuchtaxtothecreditofafundtobeknownas"TheCountyForeignInsurance
27182715 42TaxFund",whichisherebycreatedandestablished.[Allpremiumtaxcreditsdescribedin
27192716 43sections135.500to135.529shallonlyreducetheamountofmoneysreceivedbythegeneral
27202717 44revenuefundofthisstateandshallnotreduceanymoneysreceivedbythecountyforeign
27212718 45insurancetaxfund.]
27222719 190.465.1.Inordertoprovidethebestpossible911technologyandservicetoall
27232720 2areasofthestateinthemostefficientandeconomicalmannerpossible,itisthepublicpolicy
27242721 3ofthisstatetoencouragetheconsolidationofemergencycommunicationsoperations.
27252722 4 2.Anycounty,city,or911oremergencyservicesboardestablishedunderthischapter
27262723 5orsection321.243maycontractandcooperatewithanyothercounty,city,or911or
27272724 6emergencyservicesboardestablishedunderthischapterorsection321.243asprovidedin
27282725 7sections70.210to70.320.Anycontractingcountiesorboardsmayseekassistanceand
27292726 8advicefromtheMissouri911serviceboardestablishedinsection650.325regardingthe
27302727 9termsofthejointcontractandtheadministrationandoperationofthecontractingcounties,
27312728 10cities,andboards.
27322729 11 3.Iftwoormorecounties,cities,911districts,orexistingemergency
27332730 12communicationsentitiesdesiretoconsolidatetheiremergencycommunicationsoperations,
27342731 13ajointemergencycommunicationsentitymaybeestablishedbythepartiesthroughan
27352732 14agreementidentifyingtheconditionsandprovisionsoftheconsolidationandtheoperationof
27362733 15thejointentity.Thisagreementmayincludetheestablishmentofajointgoverningbodythat
27372734 16maybecomprisedoftheboardsoftheentitiesformingtheagreementcurrentlyauthorizedby
27382735 17statuteoranelectedorappointedjointboardauthorizedundersection70.260;providedthat,
2739-HCS#2HB1007 75 18therepresentationonthejointboardofeachoftheentitiesformingtheagreementshallbe
2736+18therepresentationonthejointboardofeachoftheentitiesformingtheagreementshallbe
27402737 19equal.Iftheentitiesenteringintoanagreementunderthissubsectiondecidethatany911
27412738 20servicecenterresponsiblefortheansweringof911callsandthedispatchofassistanceshall
27422739 21bephysicallylocatedinacountyotherthanacountywiththelowestaveragecountywage
27432740 22fromthesetofcountieswheretheentitiesenteringintoanagreementunderthissubsection
27442741 23arelocatedinwholeorpart,suchentitiesshallprovideawrittenreasonforthisdecisiontothe
27452742 24Missouri911serviceboardandsuchdocumentshallbeconsideredapublicrecordunder
27462743 25chapter610.Thecountyaveragewagecomparisonshallbeconductedusingtheinformation
27472744 26fromtheMissouridepartmentofeconomicdevelopment[, whichcalculatessuchcounty
27482745 27averagewagesundersection135.950].
2749-28 4.AfterAugust28,2018,nopublicsafetyansweringpointoperationmaybe
2746+HCSHB1007 75 28 4.AfterAugust28,2018,nopublicsafetyansweringpointoperationmaybe
27502747 29establishedasaresultofitsseparationfromanexistingpublicsafetyansweringpoint
27512748 30operationwithoutastudyby,andtheapprovalof,theMissouri911serviceboard.
27522749 31 5.Noprovisionofthissectionshallbeconstruedtoprohibitordiscourageinany
27532750 32mannertheformationofmultiagencyormultijurisdictionalpublicsafetyansweringpoint
27542751 33operations.
27552752 192.2015.1.Anyregisteredcaregiverwhomeetstherequirementsofthissection
27562753 2shallbeeligibleforasharedcaretaxcreditinanamountnottoexceedfivehundreddollarsto
27572754 3defraythecostofcaringforanelderlyperson.Inordertobeeligibleforasharedcaretax
27582755 4credit,aregisteredcaregivershall:
27592756 5 (1)Careforanelderlyperson,agesixtyorolder,who:
27602757 6 (a)Isphysicallyormentallyincapableoflivingalone,asdeterminedandcertifiedby
27612758 7hisorherphysicianlicensedpursuanttochapter334,orbythedepartmentstaffwhenan
27622759 8assessmenthasbeencompletedforthepurposeofqualificationforotherservices;and
27632760 9 (b)Requiresassistancewithactivitiesofdailylivingtotheextentthatwithoutcare
27642761 10andoversightathomewouldrequireplacementinafacilitylicensedpursuanttochapter198;
27652762 11and
27662763 12 (c)Undernocircumstances,isableorallowedtooperateamotorvehicle;and
27672764 13 (d)DoesnotreceivefundingorservicesthroughMedicaidorsocialservicesblock
27682765 14grantfunding;
27692766 15 (2)Liveinthesameresidencetogiveprotectiveoversightfortheelderlyperson
27702767 16meetingtherequirementsdescribedinsubdivision(1)ofthissubsectionforanaggregateof
27712768 17morethansixmonthspertaxyear;
27722769 18 (3)Notreceivemonetarycompensationforprovidingcarefortheelderlyperson
27732770 19meetingtherequirementsdescribedinsubdivision(1)ofthissubsection;and
27742771 20 (4)Filetheoriginalcompletedandsignedphysiciancertificationforsharedcaretax
27752772 21creditformortheoriginalcompletedandsigneddepartmentcertificationforsharedcaretax
2776-HCS#2HB1007 76 22creditformprovidedforinsubsection2ofsection192.2010alongwithsuchcaregiver's
2773+22creditformprovidedforinsubsection2ofsection192.2010alongwithsuchcaregiver's
27772774 23Missouriindividualincometaxreturntothedepartmentofrevenue.
27782775 24 2.Thetaxcreditallowedbythissectionshallapplytoanyyearbeginningafter
27792776 25December31,1999.
27802777 26 3.(1)ForallfiscalyearsbeginningonorafterJuly1,2026,thecumulative
27812778 27amountoftaxcreditsissuedannuallytoalltaxpayersbythedepartmentunderthis
27822779 28sectionshallnotexceedthetotalcapamount,whichshallbeanamountequaltothe
27832780 29highestannualamountoftaxcreditsissuedinanyonepreviousfiscalyear,fromfiscal
27842781 30year2023tofiscalyear2025,asdeterminedandcalculatedbythedepartment.
2785-31 (2)Iftheamountoftaxcreditsclaimedinafiscalyearunderthissectionexceeds
2782+HCSHB1007 76 31 (2)Iftheamountoftaxcreditsclaimedinafiscalyearunderthissectionexceeds
27862783 32thetotalcapdeterminedundersubdivision(1)ofthissubsection,taxcreditsshallbe
27872784 33allowedbasedontheorderinwhichtheywereissued.
27882785 34 [3.]4.Anyruleorportionofarule,asthattermisdefinedinsection536.010,thatis
27892786 35createdundertheauthoritydelegatedinsections192.2000to192.2020shallbecomeeffective
27902787 36onlyifitcomplieswithandissubjecttoalloftheprovisionsofchapter536and,ifapplicable,
27912788 37section536.028.AllrulemakingauthoritydelegatedpriortoAugust28,1999,isofnoforce
27922789 38andeffectandrepealed.Nothinginthissectionshallbeinterpretedtorepealoraffectthe
27932790 39validityofanyrulefiledoradoptedpriortoAugust28,1999,ifitfullycompliedwithall
27942791 40applicableprovisionsoflaw.Thissectionandchapter536arenonseverableandifanyofthe
27952792 41powersvestedwiththegeneralassemblypursuanttochapter536toreview,todelaythe
27962793 42effectivedateortodisapproveandannularulearesubsequentlyheldunconstitutional,then
27972794 43thegrantofrulemakingauthorityandanyruleproposedoradoptedafterAugust28,1999,
27982795 44shallbeinvalidandvoid.
27992796 45 [4.]5.Anypersonwhoknowinglyfalsifiesanydocumentrequiredforthesharedcare
28002797 46taxcreditshallbesubjecttothesamepenaltiesforfalsifyingothertaxdocumentsasprovided
28012798 47inchapter143.
28022799 48 6.Undersection23.253oftheMissourisunsetact:
28032800 49 (1)Theprovisionsoftheprogramauthorizedunderthissectionshall
28042801 50automaticallysunsetonAugust28,2031,unlessreauthorizedbyanactofthegeneral
28052802 51assembly;
28062803 52 (2)Ifsuchprogramisreauthorized,theprogramauthorizedunderthissection
28072804 53shallautomaticallysunsetsixyearsaftertheeffectivedateofthereauthorizationofthis
28082805 54section;
28092806 55 (3)ThissectionshallterminateonSeptemberfirstofthecalendaryear
28102807 56immediatelyfollowingthecalendaryearinwhichtheprogramauthorizedunderthis
28112808 57sectionissunset;and
2812-HCS#2HB1007 77 58 (4)Theprovisionsofthissubsectionshallnotbeconstruedtolimitorinanyway
2809+58 (4)Theprovisionsofthissubsectionshallnotbeconstruedtolimitorinanyway
28132810 59impairataxpayer'sabilitytoredeemtaxcreditsauthorizedonorbeforethedatethe
28142811 60programauthorizedunderthissectionexpires.
28152812 208.770.1.Moneysdepositedinorwithdrawnpursuanttosubsection1ofsection
28162813 2208.760fromafamilydevelopmentaccountbyanaccountholderareexemptedfromtaxation
28172814 3pursuanttochapter143,excludingwithholdingtaximposedbysections143.191to143.265,
28182815 4andchapter147,148or153provided,however,thatanymoneywithdrawnforanunapproved
28192816 5useshouldbesubjecttotaxasrequiredbylaw.
28202817 6 2.Interestearnedbyafamilydevelopmentaccountisexemptedfromtaxation
28212818 7pursuanttochapter143.
2822-8 3.Anyfundsinafamilydevelopmentaccount,includingaccruedinterest,shallbe
2819+HCSHB1007 77 8 3.Anyfundsinafamilydevelopmentaccount,includingaccruedinterest,shallbe
28232820 9disregardedwhendeterminingeligibilitytoreceive,ortheamountof,anypublicassistanceor
28242821 10benefits.
28252822 11 4.Aprogramcontributorshallbeallowedacreditagainstthetaximposedbychapter
28262823 12143,excludingwithholdingtaximposedbysections143.191to143.265,andchapter147,
28272824 13148or153,pursuanttosections208.750to208.775.Contributionsuptofiftythousand
28282825 14dollarsperprogramcontributorareeligibleforthetaxcreditwhichshallnotexceedfifty
28292826 15percentofthecontributionamount.
28302827 16 5.Thedepartmentofeconomicdevelopmentshallverifyalltaxcreditclaimsby
28312828 17contributors.Theadministratorofthecommunity-basedorganization,withthecooperation
28322829 18oftheparticipatingfinancialinstitutions,shallsubmitthenamesofcontributorsandthetotal
28332830 19amounteachcontributorcontributestoafamilydevelopmentaccountreservefundforthe
28342831 20calendaryear.Thedirectorshalldeterminethedatebywhichsuchinformationshallbe
28352832 21submittedtothedepartmentbythelocaladministrator.Thedepartmentshallsubmit
28362833 22verificationofqualifiedtaxcreditspursuanttosections208.750to208.775tothedepartment
28372834 23ofrevenue.
28382835 24 6.ForallfiscalyearsendingonorbeforeJune30,2010,thetotaltaxcredits
28392836 25authorizedpursuanttosections208.750to208.775shallnotexceedfourmilliondollarsin
28402837 26anyfiscalyear.ForallfiscalyearsbeginningonorafterJuly1,2010,thetotaltaxcredits
28412838 27authorizedundersections208.750to208.775shallnotexceedthreehundredthousanddollars
28422839 28inanyfiscalyear.
28432840 29 7.Undersection23.253oftheMissourisunsetact:
28442841 30 (1)Theprovisionsofthetaxcreditprogramauthorizedunderthissectionshall
28452842 31automaticallysunsetonAugust28,2031,unlessreauthorizedbyanactofthegeneral
28462843 32assembly;
2847-HCS#2HB1007 78 33 (2)Ifsuchtaxcreditprogramisreauthorized,theprogramauthorizedunder
2844+33 (2)Ifsuchtaxcreditprogramisreauthorized,theprogramauthorizedunder
28482845 34thissectionshallautomaticallysunsetsixyearsaftertheeffectivedateofthe
28492846 35reauthorizationofthissection;
28502847 36 (3)ThissectionshallterminateonSeptemberfirstofthecalendaryear
28512848 37immediatelyfollowingthecalendaryearinwhichtheprogramauthorizedunderthis
28522849 38sectionissunset;and
28532850 39 (4)Theprovisionsofthissubsectionshallnotbeconstruedtolimitorinanyway
28542851 40impairataxpayer'sabilitytoredeemtaxcreditsauthorizedonorbeforethedatethe
28552852 41programauthorizedunderthissectionexpires.
28562853 320.092.1.Taxcreditsissuedpursuanttosections135.400[,] to135.432andsection
28572854 2135.750[and320.093] shallbesubjecttooversightprovisions.EffectiveJanuary1,2000,
28582855 3notwithstandingtheprovisionsofsection32.057,theboard,departmentorauthorityissuing
2859-4taxcreditsshallannuallyreporttotheofficeofadministration,presidentprotemofthe
2856+HCSHB1007 78 4taxcreditsshallannuallyreporttotheofficeofadministration,presidentprotemofthe
28602857 5senate,andthespeakerofthehouseofrepresentativesregardingthetaxcreditsissued
28612858 6pursuanttosections135.400[,] to135.432andsection135.750[and320.093] whichwere
28622859 7issuedinthepreviousfiscalyear.Thereportshallcontain,butnotbelimitedto,theaggregate
28632860 8numberanddollaramountoftaxcreditsissuedbytheboard,departmentorauthority,the
28642861 9numberanddollaramountoftaxcreditsclaimedbytaxpayers,andthenumberanddollar
28652862 10amountoftaxcreditsunclaimedbytaxpayersaswellasthenumberofyearsallowedfor
28662863 11claimstobemade.ThisreportshallbedeliverednolaterthanNovemberofeachyear.
28672864 12 2.Thereportingrequirementsestablishedpursuanttosubsection1ofthissection
28682865 13shallalsoapplytothedepartmentofeconomicdevelopmentandtheMissouridevelopment
28692866 14financeboardestablishedpursuanttosection100.265.ThedepartmentandtheMissouri
28702867 15developmentfinanceboardshallreportonthetaxcreditprogramswhichtheyrespectively
28712868 16administerthatareauthorizedundertheprovisionsofchapters32,100,135,178,253,348,
28722869 17447and620.
28732870 348.505.1.Asusedinthissection,"statetaxliability"[,] meansanystatetaxliability
28742871 2incurredbyataxpayerundertheprovisionsofchapters143,147,and148,exclusiveofthe
28752872 3provisionsrelatingtothewithholdingoftaxasprovidedforinsections143.191to143.265
28762873 4andrelatedprovisions.
28772874 5 2.Anyeligiblelenderunderthefamilyfarmlivestockloanprogramundersection
28782875 6348.500shallbeentitledtoreceiveataxcreditequaltoonehundredpercentoftheamountof
28792876 7interestwaivedbythelenderundersection348.500onaqualifyingloanforthefirstyearof
28802877 8theloanonly.Thetaxcreditshallbeevidencedbyataxcreditcertificateissuedbythe
28812878 9agriculturalandsmallbusinessdevelopmentauthorityandmaybeusedtosatisfythestatetax
28822879 10liabilityoftheownerofsuchcertificatethatbecomesdueinthetaxyearinwhichtheinterest
28832880 11onaqualifiedloaniswaivedbythelenderundersection348.500.Nolendermayreceivea
2884-HCS#2HB1007 79 12taxcreditunderthissectionunlesssuchpersonpresentsataxcreditcertificatetothe
2881+12taxcreditunderthissectionunlesssuchpersonpresentsataxcreditcertificatetothe
28852882 13departmentofrevenueforpaymentofsuchstatetaxliability.Theamountofthetaxcredits
28862883 14thatmaybeissuedtoalleligiblelendersclaimingtaxcreditsauthorizedinthissectionina
28872884 15fiscalyearshallnotexceedthreehundredthousanddollars.
28882885 16 3.Theagriculturalandsmallbusinessdevelopmentauthorityshallberesponsiblefor
28892886 17theadministrationandissuanceofthecertificateoftaxcreditsauthorizedbythissection.The
28902887 18authorityshallissueacertificateoftaxcreditattherequestofanylender.Eachrequestshall
28912888 19includeatruecopyoftheloandocuments,thenameofthelenderwhoistoreceivea
28922889 20certificateoftaxcredit,thetypeofstatetaxliabilityagainstwhichthetaxcreditistobeused,
28932890 21andtheamountofthecertificateoftaxcredittobeissuedtothelenderbasedontheinterest
28942891 22waivedbythelenderundersection348.500ontheloanforthefirstyear.
2895-23 4.TheMissouridepartmentofrevenueshallacceptacertificateoftaxcreditinlieuof
2892+HCSHB1007 79 23 4.TheMissouridepartmentofrevenueshallacceptacertificateoftaxcreditinlieuof
28962893 24otherpaymentinsuchamountasisequaltothelesseroftheamountofthetaxorthe
28972894 25remainingunusedamountofthecreditasindicatedonthecertificateoftaxcredit,andshall
28982895 26indicateonthecertificateoftaxcredittheamountoftaxtherebypaidandthedateofsuch
28992896 27payment.
29002897 28 5.Thefollowingprovisionsshallapplytotaxcreditsauthorizedunderthissection:
29012898 29 (1)Taxcreditsclaimedina[taxable] taxyearmaybeclaimedonaquarterlybasis
29022899 30andappliedtotheestimatedquarterlytaxofthelender;
29032900 31 (2)Anyamountoftaxcreditwhichexceedsthetaxdue,includinganyestimated
29042901 32quarterlytaxespaidbythelenderundersubdivision(1)ofthissubsectionwhichresultsinan
29052902 33overpaymentoftaxesfora[taxable] taxyear,shallnotberefundedbutmaybecarriedoverto
29062903 34anysubsequent[taxable] taxyear,nottoexceedatotalofthreeyearsforwhichataxcredit
29072904 35maybetakenforaqualifiedfamilyfarmlivestockloan;
29082905 36 (3)Notwithstandinganyprovisionoflawtothecontrary,alendermayassign,
29092906 37transferorselltaxcreditsauthorizedunderthissection,withthenewownerofthetaxcredit
29102907 38receivingthesamerightsinthetaxcreditasthelender.Foranytaxcreditsassigned,
29112908 39transferred,sold,orotherwiseconveyed,anotarizedendorsementshallbefiledbythelender
29122909 40withtheauthorityspecifyingthenameandaddressofthenewownerofthetaxcreditandthe
29132910 41valueofsuchtaxcredit;and
29142911 42 (4)Notwithstandinganyotherprovisionofthissectiontothecontrary,any
29152912 43commercialbankmayusetaxcreditscreatedunderthissectionasprovidedinsection
29162913 44148.064andreceiveanettaxcreditagainsttaxesactuallypaidintheamountofthefirstyear's
29172914 45interestonloansmadeunderthissection.Ifsuchfirstyeartaxcreditsreducetaxesdueas
29182915 46providedinsection148.064tozero,theremainingtaxcreditsmaybecarriedoveras
29192916 47otherwiseprovidedinthissectionandutilizedasprovidedinsection148.064insubsequent
29202917 48years.
2921-HCS#2HB1007 80 49 6.Undersection23.253oftheMissourisunsetact:
2918+49 6.Undersection23.253oftheMissourisunsetact:
29222919 50 (1)Theprovisionsoftheprogramauthorizedunderthissectionshall
29232920 51automaticallysunsetonAugust28,2031,unlessreauthorizedbyanactofthegeneral
29242921 52assembly;
29252922 53 (2)Ifsuchprogramisreauthorized,theprogramauthorizedunderthissection
29262923 54shallautomaticallysunsetsixyearsaftertheeffectivedateofthereauthorizationofthis
29272924 55section;
29282925 56 (3)ThissectionshallterminateonSeptemberfirstofthecalendaryear
29292926 57immediatelyfollowingthecalendaryearinwhichtheprogramauthorizedunderthis
29302927 58sectionissunset;and
2931-59 (4)Theprovisionsofthissubsectionshallnotbeconstruedtolimitorinanyway
2928+HCSHB1007 80 59 (4)Theprovisionsofthissubsectionshallnotbeconstruedtolimitorinanyway
29322929 60impairataxpayer'sabilitytoredeemtaxcreditsauthorizedonorbeforethedatethe
29332930 61programauthorizedunderthissectionexpires.
29342931 447.708.1.Foreligibleprojects,thedirectorofthedepartmentofeconomic
29352932 2development,withnoticetothedirectorsofthedepartmentsofnaturalresourcesandrevenue,
29362933 3andsubjecttotheotherprovisionsofsections447.700to447.718,maynotcreateanew
29372934 4enterprisezonebutmaydecidethataprospectiveoperatorofafacilitybeingremediedand
29382935 5renovatedpursuanttosections447.700to447.718mayreceivethetaxcreditsandexemptions
29392936 6pursuanttosections135.100to135.150andsections135.200to135.257.Thetaxcredits
29402937 7allowedpursuanttothissubsectionshallbeusedtooffsetthetaximposedbychapter143,
29412938 8excludingwithholdingtaximposedbysections143.191to143.265,orthetaxotherwise
29422939 9imposedbychapter147,orthetaxotherwiseimposedbychapter148.Forpurposesofthis
29432940 10subsection:
29442941 11 (1)Forreceiptoftheadvaloremtaxabatementpursuanttosection135.215,the
29452942 12eligibleprojectmustcreateatleasttennewjobsorretainbusinesseswhichsupplyatleast
29462943 13twenty-fiveexistingjobs.Thecity,orcountyiftheeligibleprojectisnotlocatedinacity,
29472944 14mustprovideadvaloremtaxabatementofatleastfiftypercentforaperiodnotlessthanten
29482945 15yearsandnotmorethantwenty-fiveyears;
29492946 16 (2)Forreceiptoftheincometaxexemptionpursuanttosection135.220andtaxcredit
29502947 17forneworexpandedbusinessfacilitiespursuanttosections135.100to135.150,and135.225,
29512948 18theeligibleprojectmustcreateatleasttennewjobsorretainbusinesseswhichsupplyatleast
29522949 19twenty-fiveexistingjobs,orcombinationthereof.Forpurposesofsections447.700to
29532950 20447.718,thetaxcreditsdescribedinsection135.225aremodifiedasfollows:thetaxcredit
29542951 21shallbefourhundreddollarsperemployeeperyear,anadditionalfourhundreddollarsper
29552952 22yearforeachemployeeexceedingtheminimumemploymentthresholdsoftenandtwenty-
29562953 23fivejobsfornewandexistingbusinesses,respectively,anadditionalfourhundreddollarsper
29572954 24yearforeachpersonwhoisapersondifficulttoemployasdefinedbysection135.240,and
2958-HCS#2HB1007 81 25investmenttaxcreditsatthesameamountsandlevelsasprovidedinsubdivision(4)of
2955+25investmenttaxcreditsatthesameamountsandlevelsasprovidedinsubdivision(4)of
29592956 26subsection1ofsection135.225;
29602957 27 (3)Foreligibilitytoreceivetheincometaxrefundpursuanttosection135.245,the
29612958 28eligibleprojectmustcreateatleasttennewjobsorretainbusinesseswhichsupplyatleast
29622959 29twenty-fiveexistingjobs,orcombinationthereof,andotherwisecomplywiththeprovisions
29632960 30ofsection135.245forapplicationanduseoftherefundandtheeligibilityrequirementsof
29642961 31thissection;
29652962 32 (4)Theeligibleprojectoperatesincompliancewithapplicableenvironmentallaws
29662963 33andregulations,includingpermittingandregistrationrequirements,ofthisstateaswellasthe
29672964 34federalandlocalrequirements;
2968-35 (5)Theeligibleprojectoperatorshallfilesuchreportsasmayberequiredbythe
2965+HCSHB1007 81 35 (5)Theeligibleprojectoperatorshallfilesuchreportsasmayberequiredbythe
29692966 36directorofeconomicdevelopmentorthedirector'sdesignee;
29702967 37 (6)Thetaxpayermayclaimthestatetaxcreditsauthorizedbythissubsectionandthe
29712968 38stateincomeexemptionforaperiodnotinexcessoftenconsecutivetaxyears.Forthe
29722969 39purposeofthissection,"taxpayer"meansanindividualproprietorship,partnershipor
29732970 40corporationdescribedinsection143.441or143.471whooperatesaneligibleproject.The
29742971 41directorshalldeterminethenumberofyearsthetaxpayermayclaimthestatetaxcreditsand
29752972 42thestateincomeexemptionbasedontheprojectednetstateeconomicbenefitsattributedto
29762973 43theeligibleproject;
29772974 44 (7)Forthepurposeofmeetingthenewjobrequirementprescribedinsubdivisions
29782975 45(1),(2)and(3)ofthissubsection,itshallberequiredthatatleasttennewjobsbecreatedand
29792976 46maintainedduringthetaxpayer'staxperiodforwhichthecreditsareearned,inthecaseofan
29802977 47eligibleprojectthatdoesnotreplaceasimilarfacilityinMissouri."Newjob"meansaperson
29812978 48whowasnotpreviouslyemployedbythetaxpayerorrelatedtaxpayerwithinthetwelve-
29822979 49monthperiodimmediatelyprecedingthetimethepersonwasemployedbythattaxpayerto
29832980 50workat,orinconnectionwith,theeligibleprojectonafull-timebasis."Full-timebasis"
29842981 51meanstheemployeeworksanaverageofatleastthirty-fivehoursperweekduringthe
29852982 52taxpayer'staxperiodforwhichthetaxcreditsareearned.Forthepurposesofthissection,
29862983 53"relatedtaxpayer"hasthesamemeaningasdefinedinsubdivision(10)ofsection135.100;
29872984 54 (8)Forthepurposeofmeetingtheexistingjobretentionrequirement,iftheeligible
29882985 55projectreplacesasimilarfacilitythatclosedelsewhereinMissouripriortotheendofthe
29892986 56taxpayer'staxperiodinwhichthetaxcreditsareearned,itshallberequiredthatatleast
29902987 57twenty-fiveexistingjobsberetainedat,andinconnectionwiththeeligibleproject,onafull-
29912988 58timebasisduringthetaxpayer'staxperiodforwhichthecreditsareearned."Retainedjob"
29922989 59meansapersonwhowaspreviouslyemployedbythetaxpayerorrelatedtaxpayer,atafacility
29932990 60similartotheeligibleprojectthatclosedelsewhereinMissouripriortotheendofthe
29942991 61taxpayer'staxperiodinwhichthetaxcreditsareearned,withinthetaxperiodimmediately
2995-HCS#2HB1007 82 62precedingthetimethepersonwasemployedbythetaxpayertoworkat,orinconnection
2992+62precedingthetimethepersonwasemployedbythetaxpayertoworkat,orinconnection
29962993 63with,theeligibleprojectonafull-timebasis."Full-timebasis"meanstheemployeeworksan
29972994 64averageofatleastthirty-fivehoursperweekduringthetaxpayer'staxperiodforwhichthe
29982995 65taxcreditsareearned;
29992996 66 (9)Inthecasewhereaneligibleprojectreplacesasimilarfacilitythatclosed
30002997 67elsewhereinMissouripriortotheendofthetaxpayer'staxperiodinwhichthetaxcreditsare
30012998 68earned,theownerandoperatoroftheeligibleprojectshallprovidethedirectorwithawritten
30022999 69statementexplainingthereasonfordiscontinuingoperationsattheclosedfacility.The
30033000 70statementshallincludeacomparisonoftheactivitiesperformedattheclosedfacilitypriorto
30043001 71thedatethefacilityceasedoperating,totheactivitiesperformedattheeligibleproject,anda
3005-72detailedaccountdescribingtheneedandrationaleforrelocatingtotheeligibleproject.Ifthe
3002+HCSHB1007 82 72detailedaccountdescribingtheneedandrationaleforrelocatingtotheeligibleproject.Ifthe
30063003 73directorfindstherelocationtotheeligibleprojectsignificantlyimpairedtheeconomic
30073004 74stabilityoftheareainwhichtheclosedfacilitywaslocated,andthatsuchmovewas
30083005 75detrimentaltotheoveralleconomicdevelopmenteffortsofthestate,thedirectormaydeny
30093006 76thetaxpayer'srequesttoclaimtaxbenefits;
30103007 77 (10)Notwithstandinganyprovisionoflawtothecontrary,forthepurposeofthis
30113008 78section,thenumberofnewjobscreatedandmaintained,thenumberofexistingjobsretained,
30123009 79andthevalueofnewqualifiedinvestmentusedattheeligibleprojectduringanytaxyearshall
30133010 80bedeterminedbydividingbytwelve,inthecaseofjobs,thesumofthenumberofindividuals
30143011 81employedattheeligibleproject,orinthecaseofnewqualifiedinvestment,thevalueofnew
30153012 82qualifiedinvestmentusedattheeligibleproject,onthelastbusinessdayofeachfullcalendar
30163013 83monthofthetaxyear.Iftheeligibleprojectisinoperationforlessthantheentiretaxyear,
30173014 84thenumberofnewjobscreatedandmaintained,thenumberofexistingjobsretained,andthe
30183015 85valueofnewqualifiedinvestmentcreatedattheeligibleprojectduringanytaxyearshallbe
30193016 86determinedbydividingthesumofthenumberofindividualsemployedattheeligibleproject,
30203017 87orinthecaseofnewqualifiedinvestment,thevalueofnewqualifiedinvestmentusedatthe
30213018 88eligibleproject,onthelastbusinessdayofeachfullcalendarmonthduringtheportionofthe
30223019 89taxyearduringwhichtheeligibleprojectwasinoperation,bythenumberoffullcalendar
30233020 90monthsduringsuchperiod;
30243021 91 (11)Forthepurposeofthissection,"newqualifiedinvestment"meansnewbusiness
30253022 92facilityinvestmentasdefinedandasdeterminedinsubdivision(8)ofsection135.100which
30263023 93isusedatandinconnectionwiththeeligibleproject.Newqualifiedinvestmentshallnot
30273024 94includesmalltools,suppliesandinventory."Smalltools"meanstoolsthatareportableand
30283025 95canbehandheld.
30293026 96 2.Thedeterminationofthedirectorofeconomicdevelopmentpursuanttosubsection
30303027 971ofthissectionshallnotaffectrequirementsfortheprospectivepurchasertoobtainthe
3031-HCS#2HB1007 83 98approvalofthegrantingofrealpropertytaxabatementbythemunicipalorcounty
3028+98approvalofthegrantingofrealpropertytaxabatementbythemunicipalorcounty
30323029 99governmentwheretheeligibleprojectislocated.
30333030 100 3.(1)Thedirectorofthedepartmentofeconomicdevelopment,withtheapprovalof
30343031 101thedirectorofthedepartmentofnaturalresources,may,inadditiontothetaxcreditsallowed
30353032 102insubsection1ofthissection,grantaremediationtaxcredittotheapplicantforuptoone
30363033 103hundredpercentofthecostsofmaterials,supplies,equipment,labor,professional
30373034 104engineering,consultingandarchitecturalfees,permittingfeesandexpenses,demolition,
30383035 105asbestosabatement,anddirectutilitychargesforperformingthevoluntaryremediation
30393036 106activitiesforthepreexistinghazardoussubstancecontaminationandreleases,including,but
30403037 107notlimitedto,thecostsofperformingoperationandmaintenanceoftheremediation
30413038 108equipmentatthepropertybeyondtheyearinwhichthesystemsandequipmentarebuiltand
3042-109installedattheeligibleprojectandthecostsofperformingthevoluntaryremediation
3039+HCSHB1007 83 109installedattheeligibleprojectandthecostsofperformingthevoluntaryremediation
30433040 110activitiesoveraperiodnotinexcessoffourtaxyearsfollowingthetaxpayer'staxyearin
30443041 111whichthesystemandequipmentwerefirstputintouseattheeligibleproject,providedthe
30453042 112remediationactivitiesarethesubjectofaplansubmittedto,andapprovedby,thedirectorof
30463043 113naturalresourcespursuanttosections260.565to260.575.Thetaxcreditmayalsoincludeup
30473044 114toonehundredpercentofthecostsofdemolitionthatarenotdirectlypartoftheremediation
30483045 115activities,providedthatthedemolitionisonthepropertywherethevoluntaryremediation
30493046 116activitiesareoccurring,thedemolitionisnecessarytoaccomplishtheplanneduseofthe
30503047 117facilitywheretheremediationactivitiesareoccurring,andthedemolitionispartofa
30513048 118redevelopmentplanapprovedbythemunicipalorcountygovernmentandthedepartmentof
30523049 119economicdevelopment.Thedemolitionmayoccuronanadjacentpropertyiftheprojectis
30533050 120locatedinamunicipalitywhichhasapopulationlessthantwentythousandandtheabove
30543051 121conditionsareotherwisemet.Theadjacentpropertyshallindependentlyqualifyas
30553052 122abandonedorunderutilized.Theamountofthecreditavailablefordemolitionnotassociated
30563053 123withremediationcannotexceedthetotalamountofcreditsapprovedforremediation
30573054 124includingdemolitionrequiredforremediation.
30583055 125 (2)Theamountofremediationtaxcreditsissuedshallbelimitedtotheleastamount
30593056 126necessarytocausetheprojecttooccur,asdeterminedbythedirectorofthedepartmentof
30603057 127economicdevelopment.
30613058 128 (3)Thedirectormay,withtheapprovalofthedirectorofnaturalresources,extendthe
30623059 129taxcreditsallowedforperformingvoluntaryremediationmaintenanceactivities,in
30633060 130incrementsofthree-yearperiods,nottoexceedfiveconsecutivethree-yearperiods.The
30643061 131taxcreditsallowedinthissubsectionshallbeusedtooffsetthetaximposedbychapter143,
30653062 132excludingwithholdingtaximposedbysections143.191to143.265,orthetaxotherwise
30663063 133imposedbychapter147,orthetaxotherwiseimposedbychapter148.Theremediationtax
3067-HCS#2HB1007 84 134creditmaybetakeninthesametaxyearinwhichthetaxcreditsarereceivedormaybetaken
3064+134creditmaybetakeninthesametaxyearinwhichthetaxcreditsarereceivedormaybetaken
30683065 135overaperiodnottoexceedtwentyyears.
30693066 136 (4)Theprojectfacilityshallbeprojectedtocreateatleasttennewjobsoratleast
30703067 137twenty-fiveretainedjobs,oracombinationthereof,asdeterminedbythedepartmentof
30713068 138economicdevelopment,tobeeligiblefortaxcreditspursuanttothissection.
30723069 139 (5)Nomorethanseventy-fivepercentofearnedremediationtaxcreditsmaybe
30733070 140issuedwhentheremediationcostswerepaid,andtheremainingpercentagemaybeissued
30743071 141whenthedepartmentofnaturalresourcesissuesaletterofcompletionletterorcovenantnot
30753072 142tosuefollowingcompletionofthevoluntaryremediationactivities.Itshallnotincludeany
30763073 143costsassociatedwithongoingoperationalenvironmentalcomplianceofthefacilityor
30773074 144remediationcostsarisingoutofspills,leaks,orotherreleasesarisingoutoftheongoing
30783075 145businessoperationsofthefacility.Intheeventthedepartmentofnaturalresourcesissuesa
3079-146letterofcompletionforaportionofaproperty,animpactedmediasuchassoilor
3076+HCSHB1007 84 146letterofcompletionforaportionofaproperty,animpactedmediasuchassoilor
30803077 147groundwater,orforasiteoraportionofasiteimprovement,aproratedamountofthe
30813078 148remainingpercentagemaybereleasedbasedonthepercentageofthetotalsitereceivinga
30823079 149letterofcompletion.
30833080 150 4.Intheexerciseofthesounddiscretionofthedirectorofthedepartmentof
30843081 151economicdevelopmentorthedirector'sdesignee,thetaxcreditsandexemptionsdescribedin
30853082 152thissectionmaybeterminated,suspendedorrevokediftheeligibleprojectfailstocontinue
30863083 153tomeettheconditionssetforthinthissection.Inmakingsuchadetermination,thedirector
30873084 154shallconsidertheseverityoftheconditionviolation,actionstakentocorrecttheviolation,the
30883085 155frequencyofanyconditionviolationsandwhethertheactionsexhibitapatternofconductby
30893086 156theeligiblefacilityownerandoperator.Thedirectorshallalsoconsiderchangesingeneral
30903087 157economicconditionsandtherecommendationofthedirectorofthedepartmentofnatural
30913088 158resources,orhisorherdesignee,concerningtheseverity,scope,nature,frequencyandextent
30923089 159ofanyviolationsoftheenvironmentalcomplianceconditions.Thetaxpayerorperson
30933090 160claimingthetaxcreditsorexemptionsmayappealthedecisionregardingtermination,
30943091 161suspensionorrevocationofanytaxcreditorexemptioninaccordancewiththeprocedures
30953092 162outlinedinsubsections4and5ofsection135.250.Thedirectorofthedepartmentof
30963093 163economicdevelopmentshallnotifythedirectorsofthedepartmentsofnaturalresourcesand
30973094 164revenueofthetermination,suspensionorrevocationofanytaxcreditsasdeterminedinthis
30983095 165sectionorpursuanttotheprovisionsofsection447.716.
30993096 166 5.Notwithstandinganyprovisionoflawtothecontrary,notaxpayershallearnthetax
31003097 167credits,exemptionsorrefundotherwiseallowedinsubdivisions(2),(3)and(4)ofsubsection
31013098 1681ofthissectionandthetaxcreditsotherwiseallowedinsection135.110,orthetaxcredits,
31023099 169exemptionsandrefundotherwiseallowedinsections135.215,135.220,135.225and135.245,
31033100 170respectively,forthesamefacilityforthesametaxperiod.
3104-HCS#2HB1007 85 171 6.Thetotalamountofthetaxcreditsallowedinsubsection1ofthissectionmaynot
3101+171 6.Thetotalamountofthetaxcreditsallowedinsubsection1ofthissectionmaynot
31053102 172exceedthegreaterof:
31063103 173 (1)Thatportionofthetaxpayer'sincomeattributedtotheeligibleproject;or
31073104 174 (2)Onehundredpercentofthetotalbusiness'incometaxiftheeligiblefacilitydoes
31083105 175notreplaceasimilarfacilitythatclosedelsewhereinMissouripriortotheendofthe
31093106 176taxpayer'staxperiodinwhichthetaxcreditsareearned,andfurtherprovidedthetaxpayer
31103107 177doesnotoperateanyotherfacilitiesbesidestheeligibleprojectinMissouri;fiftypercentof
31113108 178thetotalbusiness'incometaxiftheeligiblefacilityreplacesasimilarfacilitythatclosed
31123109 179elsewhereinMissouripriortotheendofthetaxpayer'staxperiodinwhichthecreditsare
31133110 180earned,andfurtherprovidedthetaxpayerdoesnotoperateanyotherfacilitiesbesidesthe
31143111 181eligibleprojectinMissouri;ortwenty-fivepercentofthetotalbusinessincomeifthetaxpayer
31153112 182operates,inadditiontotheeligiblefacility,anyotherfacilitiesinMissouri.Innocaseshalla
3116-183taxpayeroperatingmorethanoneeligibleprojectinMissouribeallowedtooffsetmorethan
3113+HCSHB1007 85 183taxpayeroperatingmorethanoneeligibleprojectinMissouribeallowedtooffsetmorethan
31173114 184twenty-fivepercentofthetaxpayer'sbusinessincomeinanytaxperiod.Thatportionofthe
31183115 185taxpayer'sincomeattributedtotheeligibleprojectasreferencedinsubdivision(1)ofthis
31193116 186subsection,forwhichthecreditsallowedinsections135.110and135.225andsubsection3of
31203117 187thissectionmayapply,shallbedeterminedinthesamemannerasprescribedinsubdivision
31213118 188(5)ofsection135.100.Thatportionofthetaxpayer'sfranchisetaxattributedtotheeligible
31223119 189projectforwhichtheremediationtaxcreditmayoffset,shallbedeterminedinthesame
31233120 190mannerasprescribedinparagraph(a)ofsubdivision(5)ofsection135.100.
31243121 191 7.Taxpayersclaimingthestatetaxbenefitsallowedinsubdivisions(2)and(3)of
31253122 192subsection1ofthissectionshallberequiredtofileallapplicabletaxcreditapplications,
31263123 193formsandschedulesprescribedbythedirectorduringthetaxpayer'staxperiodimmediately
31273124 194afterthetaxperiodinwhichtheeligibleprojectwasfirstputintouse.Otherwise,the
31283125 195taxpayer'srighttoclaimsuchstatetaxbenefitsshallbeforfeited.Unusedbusinessfacility
31293126 196andenterprisezonetaxcreditsshallnotbecarriedforwardbutshallbeinitiallyclaimedfor
31303127 197thetaxperiodduringwhichtheeligibleprojectwasfirstcapableofbeingused,andduring
31313128 198anyapplicablesubsequenttaxperiods.
31323129 199 8.Taxpayersclaimingtheremediationtaxcreditallowedinsubsection3ofthis
31333130 200sectionshallberequiredtofileallapplicabletaxcreditapplications,formsandschedules
31343131 201prescribedbythedirectorduringthetaxpayer'staxperiodimmediatelyafterthetaxperiodin
31353132 202whichtheeligibleprojectwasfirstputintouse,orduringthetaxpayer'staxperiod
31363133 203immediatelyafterthetaxperiodinwhichthevoluntaryremediationactivitieswere
31373134 204performed.
31383135 205 9.Therecipientofremediationtaxcredits,forthepurposeofthissubsectionreferred
31393136 206toasassignor,mayassign,sellortransfer,inwholeorinpart,theremediationtaxcredit
31403137 207allowedinsubsection3ofthissectiontoanyotherperson,forthepurposeofthissubsection
3141-HCS#2HB1007 86 208referredtoasassignee.Toperfectthetransfer,theassignorshallprovidewrittennoticetothe
3138+208referredtoasassignee.Toperfectthetransfer,theassignorshallprovidewrittennoticetothe
31423139 209directoroftheassignor'sintenttotransferthetaxcreditstotheassignee,thedatethetransfer
31433140 210iseffective,theassignee'sname,addressandtheassignee'staxperiodandtheamountoftax
31443141 211creditstobetransferred.Thenumberoftaxperiodsduringwhichtheassigneemay
31453142 212subsequentlyclaimthetaxcreditsshallnotexceedtwentytaxperiods,lessthenumberoftax
31463143 213periodstheassignorpreviouslyclaimedthecreditsbeforethetransferoccurred.
31473144 214 10.Inthecasewhereanoperatorandassignorofaneligibleprojecthasbeencertified
31483145 215toclaimstatetaxbenefitsallowedinsubdivisions(2)and(3)ofsubsection1ofthissection,
31493146 216andsellsorotherwisetransferstitleoftheeligibleprojecttoanothertaxpayerorassigneewho
31503147 217continuesthesameorsubstantiallysimilaroperationsattheeligibleproject,thedirectorshall
31513148 218allowtheassigneetoclaimthecreditsforaperiodoftimetobedeterminedbythedirector;
31523149 219exceptthat,thetotalnumberoftaxperiodsthetaxcreditsmaybeearnedbytheassignorand
3153-220theassigneeshallnotexceedten.Toperfectthetransfer,theassignorshallprovidewritten
3150+HCSHB1007 86 220theassigneeshallnotexceedten.Toperfectthetransfer,theassignorshallprovidewritten
31543151 221noticetothedirectoroftheassignor'sintenttotransferthetaxcreditstotheassignee,thedate
31553152 222thetransferiseffective,theassignee'sname,address,andtheassignee'staxperiod,andthe
31563153 223amountoftaxcreditstobetransferred.
31573154 224 11.Forthepurposeofthestatetaxbenefitsdescribedinthissection,inthecaseofa
31583155 225corporationdescribedinsection143.471orpartnership,incomputingMissouri'staxliability,
31593156 226suchstatebenefitsshallbeallowedtothefollowing:
31603157 227 (1)Theshareholdersofthecorporationdescribedinsection143.471;
31613158 228 (2)Thepartnersofthepartnership.
31623159 229
31633160 230Thecreditprovidedinthissubsectionshallbeapportionedtotheentitiesdescribedin
31643161 231subdivisions(1)and(2)ofthissubsectioninproportiontotheirshareofownershiponthelast
31653162 232dayofthetaxpayer'staxperiod.
31663163 233 12.Notwithstandinganyprovisionoflawtothecontrary,inanycounty[ofthefirst
31673164 234classification] thathasacharterformofgovernmentandthathasapopulationofovernine
31683165 235hundredthousandinhabitants,alldemolitioncostsincurredduringtheredevelopmentofany
31693166 236formerautomobilemanufacturingplantshallbeallowablecostseligiblefortaxcreditsunder
31703167 237sections447.700to447.718solongastheredevelopmentofsuchformerautomobile
31713168 238manufacturingplantshallbeprojectedtocreateatleasttwohundredfiftynewjobsoratleast
31723169 239threehundredretainedjobs,oracombinationthereof,asdeterminedbythedepartmentof
31733170 240economicdevelopment.Theamountofallowablecostseligiblefortaxcreditsshallbe
31743171 241limitedtotheleastamountnecessarytocausetheprojecttooccur,asdeterminedbythe
31753172 242directorofthedepartmentofeconomicdevelopment,providedthatnotaxcreditshallbe
31763173 243issuedunderthissubsectionuntilJuly1,2017.Forpurposesofthissubsection,"former
31773174 244automobilemanufacturingplant"meansaredevelopmentareathatqualifiesasaneligible
3178-HCS#2HB1007 87 245projectundersection447.700,thatconsistsofatleastonehundredacres,andthatwasused
3175+245projectundersection447.700,thatconsistsofatleastonehundredacres,andthatwasused
31793176 246primarilyforthemanufactureofautomobilesbut,after2007,ceasedsuchmanufacturing.
31803177 247 13.(1)ForallfiscalyearsbeginningonorafterJuly1,2026,thecumulative
31813178 248amountoftaxcreditsissuedannuallytoalltaxpayersbythedepartmentunderthis
31823179 249sectionshallnotexceedthetotalcapamountwhichshallbeanamount,equaltothe
31833180 250highestannualamountoftaxcreditsissuedinanyonepreviousfiscalyear,fromfiscal
31843181 251year2023tofiscalyear2025,asdeterminedandcalculatedbythedepartment.
31853182 252 (2)Iftheamountoftaxcreditsclaimedinafiscalyearunderthissectionexceeds
31863183 253thetotalcapdeterminedundersubdivision(1)ofthissubsection,taxcreditsshallbe
31873184 254allowedbasedontheorderinwhichtheywereissued.
31883185 255 14.Undersection23.253oftheMissourisunsetact:
3189-256 (1)Theprovisionsofthetaxcreditprogramsauthorizedunderthissectionshall
3186+HCSHB1007 87 256 (1)Theprovisionsofthetaxcreditprogramsauthorizedunderthissectionshall
31903187 257automaticallysunsetonAugust28,2031,unlessreauthorizedbyanactofthegeneral
31913188 258assembly;
31923189 259 (2)Ifsuchtaxcreditprogramsarereauthorized,theprogramsauthorizedunder
31933190 260thissectionshallautomaticallysunsetsixyearsaftertheeffectivedateofthe
31943191 261reauthorizationofthissection;
31953192 262 (3)Theprovisionsofthetaxcreditprogramsauthorizedunderthissectionshall
31963193 263terminateonSeptemberfirstofthecalendaryearimmediatelyfollowingthecalendar
31973194 264yearinwhichtheprogramsauthorizedunderthissectionaresunset;and
31983195 265 (4)Theprovisionsofthissubsectionshallnotbeconstruedtolimitorinanyway
31993196 266impairataxpayer'sabilitytoredeemtaxcreditsauthorizedonorbeforethedatethe
32003197 267programsauthorizedunderthissectionexpire.
32013198 620.1910.1.Thissectionshallbeknownandmaybecitedasthe"Manufacturing
32023199 2JobsAct".
32033200 3 2.Asusedinthissection,thefollowingtermsmean:
32043201 4 (1)"Approval",adocumentsubmittedbythedepartmenttothequalified
32053202 5manufacturingcompanyorqualifiedsupplierthatstatesthebenefitsthatmaybeprovided
32063203 6underthissection;
32073204 7 (2)"Averagewage",thenewpayrolldividedbythenumberofnewjobs;
32083205 8 (3)"Capitalinvestment",expendituresmadebyaqualifiedmanufacturingcompany
32093206 9toretoolorreconfigureamanufacturingfacilitydirectlyrelatedtothemanufacturingofanew
32103207 10productortheexpansionormodificationofthemanufactureofanexistingproduct;
32113208 11 [(3)](4)"Countyaveragewage",the[samemeaningassuchtermisdefinedin
32123209 12section620.1878] averagewagesineachcountyasdeterminedbythedepartmentforthe
32133210 13mostrecentlycompletedfullcalendaryear.However,ifthecomputedcountyaverage
32143211 14wageisabovethestatewideaveragewage,thestatewideaveragewageshallbedeemed
3215-HCS#2HB1007 88 15thecountyaveragewageforsuchcountyforthepurposeofdeterminingeligibility.The
3212+15thecountyaveragewageforsuchcountyforthepurposeofdeterminingeligibility.The
32163213 16departmentshallpublishthecountyaveragewageforeachcountyatleastannually.
32173214 17Notwithstandingtheprovisionsofthissubdivisiontothecontrary,foranyqualified
32183215 18companythatinconjunctionwithitsprojectisrelocatingemployeesfromaMissouri
32193216 19countywithahighercountyaveragewage,thecompanyshallobtaintheendorsementof
32203217 20thegoverningbodyofthecommunityfromwhichjobsarebeingrelocatedorthecounty
32213218 21averagewageforitsprojectshallbethecountyaveragewageforthecountyfromwhich
32223219 22theemployeesarebeingrelocated;
32233220 23 [(4)](5)"Department",thedepartmentofeconomicdevelopment;
32243221 24 [(5)](6)"Facility",abuildingorbuildingslocatedinMissouriatwhichthequalified
32253222 25manufacturingcompanymanufacturesaproduct;
3226-26 [(6)](7)"Full-timejob",ajobforwhichapersoniscompensatedforanaverageofat
3223+HCSHB1007 88 26 [(6)](7)"Full-timejob",ajobforwhichapersoniscompensatedforanaverageofat
32273224 27leastthirty-fivehoursperweekforatwelve-monthperiod,andoneforwhichthequalified
32283225 28manufacturingcompanyorqualifiedsupplieroffershealthinsuranceandpaysatleastfifty
32293226 29percentofsuchinsurancepremiums;
32303227 30 [(7)](8)"NAICSindustryclassification",themostrecenteditionoftheNorth
32313228 31AmericanIndustryClassificationSystemaspreparedbytheExecutiveOfficeofthe
32323229 32President,OfficeofManagementandBudget;
32333230 33 [(8)](9)"Newjob",the[samemeaningassuchtermisdefinedinsection620.1878]
32343231 34numberoffull-timeemployeeslocatedattheprojectfacilitythatexceedstheproject
32353232 35facilitybaseemploymentlessanydecreaseinthenumberoffull-timeemployeesat
32363233 36relatedfacilitiesbelowtherelatedfacilitybaseemployment.Nojobthatwascreated
32373234 37priortothedateofthenoticeofintentshallbedeemedanewjob.Anemployeewho
32383235 38spendslessthanfiftypercentoftheemployee'sworktimeatthefacilityisstill
32393236 39consideredtobelocatedatthefacilityiftheemployeereceiveshisorherdirectionsand
32403237 40controlfromthatfacility,isonthefacility'spayroll,onehundredpercentofthe
32413238 41employee'sincomefromsuchemploymentisMissouriincome,andtheemployeeispaid
32423239 42atorabovethestateaveragewage;
32433240 43 [(9)](10)"Newproduct",anewmodelorlineofamanufacturedgoodthathasnot
32443241 44beenmanufacturedinMissouribythequalifiedmanufacturingcompanyatanytimepriorto
32453242 45thedateofthenoticeofintent,oranexistingbrand,model,orlineofamanufacturedgood
32463243 46thatisredesignedwithmorethanseventy-fivepercentnewexteriorbodypartsand
32473244 47incorporatesnewpowertrainoptions;
32483245 48 [(10)] (11)"Noticeofintent",aformdevelopedbythedepartment,completedbythe
32493246 49qualifiedmanufacturingcompanyorqualifiedsupplierandsubmittedtothedepartment
32503247 50whichstatesthequalifiedmanufacturingcompany'sorqualifiedsupplier'sintenttocreate
32513248 51newjobsorretaincurrentjobsandmakeadditionalcapitalinvestment,asapplicable,and
3252-HCS#2HB1007 89 52requestbenefitsunderthissection.Thenoticeofintentshallspecifytheminimumnumberof
3249+52requestbenefitsunderthissection.Thenoticeofintentshallspecifytheminimumnumberof
32533250 53suchneworretainedjobsandtheminimumamountofsuchcapitalinvestment;
32543251 54 [(11)](12)"Qualifiedmanufacturingcompany",abusinesswithaNAICScodeof
32553252 5533611that:
32563253 56 (a)ManufacturesgoodsatafacilityinMissouri;
32573254 57 (b)Inthecaseofthemanufactureofanewproduct,commitstomakeacapital
32583255 58investmentofatleastseventy-fivethousanddollarsperretainedjobwithinnomorethantwo
32593256 59yearsofthedatethequalifiedmanufacturingcompanybeginstoretainwithholdingtaxunder
32603257 60thissection,orinthecaseofthemodificationorexpansionofthemanufactureofanexisting
32613258 61product,commitstomakeacapitalinvestmentofatleastfiftythousanddollarsperretained
3262-62jobwithinnomorethantwoyearsofthedatethequalifiedmanufacturingcompanybeginsto
3259+HCSHB1007 89 62jobwithinnomorethantwoyearsofthedatethequalifiedmanufacturingcompanybeginsto
32633260 63retainwithholdingtaxunderthissection;
32643261 64 (c)Manufacturesanewproductorhascommencedmakingcapitalimprovementsto
32653262 65thefacilitynecessaryforthemanufacturingofsuchnewproduct,ormodifiesorexpandsthe
32663263 66manufactureofanexistingproductorhascommencedmakingcapitalimprovementstothe
32673264 67facilitynecessaryforthemodificationorexpansionofthemanufactureofsuchexisting
32683265 68product;and
32693266 69 (d)Continuestomeettherequirementsofparagraphs(a)to(c)ofthissubdivisionfor
32703267 70thewithholdingperiod;
32713268 71 [(12)] (13)"Qualifiedsupplier",amanufacturingcompanythat:
32723269 72 (a)Atteststothedepartmentthatitderivesmorethantenpercentofthetotalannual
32733270 73salesofthecompanyfromsalestoaqualifiedmanufacturingcompany;
32743271 74 (b)Addsfiveormorenewjobs;
32753272 75 (c)Hasanaveragewage,asdefined[in]underthissection[135.950], forsuchnew
32763273 76jobsthatareequaltoorexceedthelowerofthecountyaveragewageforMissourias
32773274 77determinedbythedepartmentusingNAICSindustryclassifications,butnotlowerthansixty
32783275 78percentofthestatewideaveragewage;and
32793276 79 (d)Provideshealthinsuranceforallfull-timejobsandpaysatleastfiftypercentof
32803277 80thepremiumsofsuchinsurance;
32813278 81 [(13)] (14)"Retainedjob",thenumberoffull-timejobsofpersonsemployedbythe
32823279 82qualifiedmanufacturingcompanylocatedatthefacilitythatexistedasofthelastworkingday
32833280 83ofthemonthimmediatelyprecedingthemonthinwhichnoticeofintentissubmitted;
32843281 84 [(14)] (15)"Statewideaveragewage",anamountequaltothequotientofthesumof
32853282 85thetotalgrosswagespaidforthecorrespondingfourcalendarquartersdividedbytheaverage
32863283 86annualemploymentforsuchfourcalendarquarters,whichshallbecomputedusingthe
32873284 87QuarterlyCensusofEmploymentandWagesDataforAllPrivateOwnershipBusinessesin
3288-HCS#2HB1007 90 88Missouri,aspublishedbytheBureauofLaborStatisticsoftheUnitedStatesDepartmentof
3285+88Missouri,aspublishedbytheBureauofLaborStatisticsoftheUnitedStatesDepartmentof
32893286 89Labor;
32903287 90 [(15)] (16)"Withholdingperiod",theseven-orten-yearperiodinwhichaqualified
32913288 91manufacturingcompanymayreceivebenefitsunderthissection;
32923289 92 [(16)] (17)"Withholdingtax",the[samemeaningassuchtermisdefinedinsection
32933290 93620.1878] statetaximposedbysections143.191to143.265.Forpurposesofthis
32943291 94program,thewithholdingtaxshallbecomputedusingascheduleasdeterminedbythe
32953292 95departmentbasedonaveragewages.
32963293 96 3.Thedepartmentshallrespondwithinthirtydaystoaqualifiedmanufacturing
32973294 97companyoraqualifiedsupplierwhoprovidesanoticeofintentwitheitheranapprovalora
3298-98rejectionofthenoticeofintent.Failuretorespondonbehalfofthedepartmentshallresultin
3295+HCSHB1007 90 98rejectionofthenoticeofintent.Failuretorespondonbehalfofthedepartmentshallresultin
32993296 99thenoticeofintentbeingdeemedanapprovalforthepurposesofthissection.
33003297 100 4.Aqualifiedmanufacturingcompanythatmanufacturesanewproductmay,upon
33013298 101thedepartment'sapprovalofanoticeofintentandtheexecutionofanagreementthatmeets
33023299 102therequirementsofsubsection9ofthissection,butnoearlierthanJanuary1,2012,retainone
33033300 103hundredpercentofthewithholdingtaxfromfull-timejobsatthefacilityforaperiodoften
33043301 104years.Aqualifiedmanufacturingcompanythatmodifiesorexpandsthemanufactureofan
33053302 105existingproductmay,uponthedepartment'sapprovalofanoticeofintentandtheexecution
33063303 106ofanagreementthatmeetstherequirementsofsubsection9ofthissection,butnoearlierthan
33073304 107January1,2012,retainfiftypercentofthewithholdingtaxfromfull-timejobsatthefacility
33083305 108foraperiodofsevenyears.Exceptasotherwiseallowedundersubsection7ofthissection,
33093306 109thecommencementofthewithholdingperiodmaybedelayedbynomorethantwenty-four
33103307 110monthsafterexecutionoftheagreementattheoptionofthequalifiedmanufacturing
33113308 111company.[Suchqualifiedmanufacturingcompanyshallbeeligibleforparticipationinthe
33123309 112Missouriqualityjobsprograminsections620.1875to620.1890foranynewjobsforwhichit
33133310 113doesnotretainwithholdingtaxunderthissection,providedallqualificationsforsuch
33143311 114programaremet.]
33153312 115 5.Aqualifiedsuppliermay,uponapprovalofanoticeofintentbythedepartment,
33163313 116retainallwithholdingtaxfromnewjobsforaperiodofthreeyearsfromthedateofapproval
33173314 117ofthenoticeofintentorforaperiodoffiveyearsifthesupplierpayswagesforthenewjobs
33183315 118equaltoorgreaterthanonehundredtwentypercentofcountyaveragewage.
33193316 119Notwithstandinganyotherprovisionoflawtothecontrary,aqualifiedsupplierthatis
33203317 120awardedbenefitsunderthissectionshallnotreceiveanytaxcreditorexemptionorbeentitled
33213318 121toretainwithholdingundersections100.700to100.850,sections135.100to135.150,or
33223319 122sections135.200to135.286[, section135.535,sections135.900to135.906,sections135.950
33233320 123to135.970,orsection620.1881] forthesamejobs.
3324-HCS#2HB1007 91 124 6.Notwithstandinganyotherprovisionoflawtothecontrary,themaximumamount
3321+124 6.Notwithstandinganyotherprovisionoflawtothecontrary,themaximumamount
33253322 125ofwithholdingtaxthatmayberetainedbyanyonequalifiedmanufacturingcompanyunder
33263323 126thissectionshallnotexceedtenmilliondollarspercalendaryear.Theaggregateamountof
33273324 127withholdingtaxthatmayberetainedbyallqualifiedmanufacturingcompaniesunderthis
33283325 128sectionshallnotexceedfifteenmilliondollarspercalendaryear.
33293326 129 7.Notwithstandinganyotherprovisionoflawtothecontrary,anyqualified
33303327 130manufacturingcompanythatisawardedbenefitsunderthissectionshallnotsimultaneously
33313328 131receivetaxcreditsorexemptionsundersections100.700to100.850,sections135.100to
33323329 132135.150,orsections135.200to135.286[, section135.535,orsections135.900to135.906]
33333330 133forthejobscreatedorretainedorcapitalimprovementwhichqualifiedforbenefitsunderthis
33343331 134section.Thebenefitsavailabletothequalifiedmanufacturingcompanyunderanyotherstate
3335-135programsforwhichthequalifiedmanufacturingcompanyiseligibleandwhichutilize
3332+HCSHB1007 91 135programsforwhichthequalifiedmanufacturingcompanyiseligibleandwhichutilize
33363333 136withholdingtaxfromthejobsatthefacilityshallfirstbecreditedtotheotherstateprogram
33373334 137beforetheapplicablewithholdingperiodforbenefitsprovidedunderthissectionshallbegin.
33383335 138Theseotherstateprogramsinclude,butarenotlimitedto,theMissouri[works] onestartjobs
33393336 139trainingprogramundersections620.800to620.809,therealpropertytaxincrement
33403337 140allocationredevelopmentactundersections99.800to99.865,ortheMissouridowntownand
33413338 141ruraleconomicstimulusactundersections99.915to99.980.Ifanyqualifiedmanufacturing
33423339 142companyalsoparticipatesintheMissouri[works] onestartjobstrainingprograminsections
33433340 143620.800to620.809,suchqualifiedmanufacturingcompanyshallnotretainanywithholding
33443341 144taxthathasalreadybeenallocatedforuseinthenewjobstrainingprogram.Anyqualified
33453342 145manufacturingcompanyorqualifiedsupplierthatisawardedbenefitsunderthisprogramand
33463343 146knowinglyhiresindividualswhoarenotallowedtoworklegallyintheUnitedStatesshall
33473344 147immediatelyforfeitsuchbenefitsandshallrepaythestateanamountequaltoany
33483345 148withholdingtaxesalreadyretained.Subsection5ofsection285.530shallnotapplyto
33493346 149qualifiedmanufacturingcompaniesorqualifiedsupplierswhichareawardedbenefitsunder
33503347 150thisprogram.
33513348 151 8.Thedepartmentmaypromulgaterulestoimplementtheprovisionsofthissection.
33523349 152Anyruleorportionofarule,asthattermisdefinedinsection536.010,thatiscreatedunder
33533350 153theauthoritydelegatedinthissectionshallbecomeeffectiveonlyifitcomplieswithandis
33543351 154subjecttoalloftheprovisionsofchapter536and,ifapplicable,section536.028.Thissection
33553352 155andchapter536arenonseverableandifanyofthepowersvestedwiththegeneralassembly
33563353 156underchapter536toreview,todelaytheeffectivedate,ortodisapproveandannularuleare
33573354 157subsequentlyheldunconstitutional,thenthegrantofrulemakingauthorityandanyrule
33583355 158proposedoradoptedaftertheeffectivedateofthissectionshallbeinvalidandvoid.
33593356 159 9.Withinsixmonthsofcompletionofanoticeofintentrequiredunderthissection,
33603357 160thequalifiedmanufacturingcompanyshallenterintoanagreementwiththedepartmentthat
3361-HCS#2HB1007 92 161memorializesthecontentofthenoticeofintent,therequirementsofthissection,andthe
3358+161memorializesthecontentofthenoticeofintent,therequirementsofthissection,andthe
33623359 162consequencesforfailingtomeetsuchrequirements,whichshallincludethefollowing:
33633360 163 (1)Iftheamountofcapitalinvestmentmadebythequalifiedmanufacturingcompany
33643361 164isnotmadewithinthetwo-yearperiodprovidedforsuchinvestment,thequalified
33653362 165manufacturingcompanyshallimmediatelyceaseretaininganywithholdingtaxwithrespect
33663363 166tojobsatthefacilityanditshallforfeitallrightstoretainwithholdingtaxfortheremainderof
33673364 167thewithholdingperiod.Inaddition,thequalifiedmanufacturingcompanyshallrepayany
33683365 168amountsofwithholdingtaxretainedplusinterestoffivepercentperannum.However,inthe
33693366 169eventthatsuchcapitalinvestmentshortfallisduetoeconomicconditionsbeyondthecontrol
33703367 170ofthequalifiedmanufacturingcompany,thedirectormay,atthequalifiedmanufacturing
33713368 171company'srequest,suspendratherthanterminateitsprivilegetoretainwithholdingtaxunder
3372-172thissectionforuptothreeyears.Anysuchsuspensionshallextendthewithholdingperiodby
3369+HCSHB1007 92 172thissectionforuptothreeyears.Anysuchsuspensionshallextendthewithholdingperiodby
33733370 173thesameamountoftime.Nomorethanonesuchsuspensionshallbegrantedtoaqualified
33743371 174manufacturingcompany;
33753372 175 (2)Ifthequalifiedmanufacturingcompanydiscontinuesthemanufacturingofthe
33763373 176newproductanddoesnotreplaceitwithasubsequentoradditionalnewproduct
33773374 177manufacturedatthefacilityatanytimeduringthewithholdingperiod,thequalified
33783375 178manufacturingcompanyshallimmediatelyceaseretaininganywithholdingtaxwithrespect
33793376 179tojobsatthatfacilityanditshallforfeitallrightstoretainwithholdingtaxfortheremainder
33803377 180ofthewithholdingperiod.
33813378 181 10.PriortoMarchfirsteachyear,thedepartmentshallprovideareporttothegeneral
33823379 182assemblyincludingthenamesofparticipatingqualifiedmanufacturingcompaniesor
33833380 183qualifiedsuppliers,locationofsuchcompaniesorsuppliers,theannualamountofbenefits
33843381 184provided,theestimatednetstatefiscalimpactincludingdirectandindirectnewstatetaxes
33853382 185derived,andthenumberofnewjobscreatedorjobsretained.
33863383 186 11.Undersection23.253oftheMissourisunsetact:
33873384 187 (1)Theprovisionsofthenewprogramauthorizedunderthissectionshall
33883385 188automaticallysunsetOctober12,2016,unlessreauthorizedbyanactofthegeneralassembly;
33893386 189and
33903387 190 (2)Ifsuchprogramisreauthorized,theprogramauthorizedunderthissectionshall
33913388 191automaticallysunsettwelveyearsaftertheeffectivedateofthereauthorizationofthissection;
33923389 192and
33933390 193 (3)ThissectionshallterminateonSeptemberfirstofthecalendaryearimmediately
33943391 194followingthecalendaryearinwhichtheprogramauthorizedunderthissectionissunset.
33953392 620.2010.1.Inexchangefortheconsiderationprovidedbythenewtaxrevenuesand
33963393 2othereconomicstimulithatwillbegeneratedbythenewjobscreated,aqualifiedcompany
33973394 3may,foraperiodoffiveyearsfromthedatethenewjobsarecreated,orforaperiodofsix
3398-HCS#2HB1007 93 4yearsfromthedatethenewjobsarecreatedifthequalifiedcompanyisanexistingMissouri
3395+4yearsfromthedatethenewjobsarecreatedifthequalifiedcompanyisanexistingMissouri
33993396 5business,retainanamountequaltothewithholdingtaxascalculatedundersubdivision(38)
34003397 6ofsection620.2005fromthenewjobsthatwouldotherwisebewithheldandremittedbythe
34013398 7qualifiedcompanyundertheprovisionsofsections143.191to143.265if:
34023399 8 (1)Thequalifiedcompanycreatestenormorenewjobs,andtheaveragewageofthe
34033400 9newpayrollequalsorexceedsninetypercentofthecountyaveragewage;
34043401 10 (2)Thequalifiedcompanycreatestwoormorenewjobsataprojectfacilitylocated
34053402 11inaruralarea,theaveragewageofthenewpayrollequalsorexceedsninetypercentofthe
34063403 12countyaveragewage,andthequalifiedcompanycommitstomakingatleastonehundred
34073404 13thousanddollarsofnewcapitalinvestmentattheprojectfacilitywithintwoyears;or
3408-14 (3)Thequalifiedcompanycreatestwoormorenewjobsataprojectfacilitylocated
3405+HCSHB1007 93 14 (3)Thequalifiedcompanycreatestwoormorenewjobsataprojectfacilitylocated
34093406 15within[a]anenhancedenterprisezone[designatedundersections135.950to135.963], the
34103407 16averagewageofthenewpayrollequalsorexceedseightypercentofthecountyaverage
34113408 17wage,andthequalifiedcompanycommitstomakingatleastonehundredthousanddollarsin
34123409 18newcapitalinvestmentattheprojectfacilitywithintwoyearsofapproval.
34133410 19 2.Inadditiontoanybenefitsavailableundersubsection1ofthissection,the
34143411 20departmentmayawardaqualifiedcompanythatsatisfiessubdivision(1)ofsubsection1of
34153412 21thissectionadditionaltaxcredits,issuedeachyearforaperiodoffiveyearsfromthedatethe
34163413 22newjobsarecreated,orforaperiodofsixyearsfromthedatethenewjobsarecreatedifthe
34173414 23qualifiedcompanyisanexistingMissouribusiness,inanamountequaltoorlessthansix
34183415 24percentofnewpayroll;providedthatinnoeventmaythetotalamountofbenefitsawardedto
34193416 25aqualifiedcompanyunderthissectionexceedninepercentofnewpayrollinanycalendar
34203417 26year.Theamountoftaxcreditsawardedtoaqualifiedcompanyunderthissubsectionshall
34213418 27notexceedtheprojectednetfiscalbenefittothestate,asdeterminedbythedepartment,and
34223419 28shallnotexceedtheleastamountnecessarytoobtainthequalifiedcompany'scommitmentto
34233420 29initiatetheproject.Indeterminingtheamountoftaxcreditstoawardtoaqualifiedcompany
34243421 30underthissubsectionoraqualifiedmanufacturingcompanyundersubsection3ofthis
34253422 31section,thedepartmentshallconsiderthefollowingfactors:
34263423 32 (1)Thesignificanceofthequalifiedcompany'sneedforprogrambenefits;
34273424 33 (2)Theamountofprojectednetfiscalbenefittothestateoftheprojectandtheperiod
34283425 34inwhichthestatewouldrealizesuchnetfiscalbenefit;
34293426 35 (3)Theoverallsizeandqualityoftheproposedproject,includingthenumberofnew
34303427 36jobs,newcapitalinvestment,manufacturingcapitalinvestment,proposedwages,growth
34313428 37potentialofthequalifiedcompany,thepotentialmultipliereffectoftheproject,andsimilar
34323429 38factors;
34333430 39 (4)Thefinancialstabilityandcreditworthinessofthequalifiedcompany;
34343431 40 (5)Thelevelofeconomicdistressinthearea;
3435-HCS#2HB1007 94 41 (6)Anevaluationofthecompetitivenessofalternativelocationsfortheproject
3432+41 (6)Anevaluationofthecompetitivenessofalternativelocationsfortheproject
34363433 42facility,asapplicable;and
34373434 43 (7)Thepercentoflocalincentivescommitted.
34383435 44 3.(1)Thedepartmentmayawardtaxcreditstoaqualifiedmanufacturingcompany
34393436 45thatmakesamanufacturingcapitalinvestmentofatleastfivehundredmilliondollarsnot
34403437 46morethanthreeyearsfollowingthedepartment'sapprovalofanoticeofintentandthe
34413438 47executionofanagreementthatmeetstherequirementsofsubsection4ofthissection.Such
34423439 48taxcreditsshallbeissuednoearlierthanJanuary1,2023,andmaybeissuedeachyearfora
34433440 49periodoffiveyears.Aqualifiedmanufacturingcompanymayqualifyforanadditionalfive-
34443441 50yearperiodunderthissubsectionifitmakesanadditionalmanufacturingcapitalinvestment
3445-51ofatleasttwohundredfiftymilliondollarswithinfiveyearsofthedepartment'sapprovalof
3442+HCSHB1007 94 51ofatleasttwohundredfiftymilliondollarswithinfiveyearsofthedepartment'sapprovalof
34463443 52theoriginalnoticeofintent.
34473444 53 (2)Themaximumamountoftaxcreditsthatanyonequalifiedmanufacturing
34483445 54companymayreceiveunderthissubsectionshallnotexceedfivemilliondollarspercalendar
34493446 55year.Theaggregateamountoftaxcreditsawardedtoallqualifiedmanufacturingcompanies
34503447 56underthissubsectionshallnotexceedtenmilliondollarspercalendaryear.
34513448 57 (3)If,attheprojectfacilityatanytimeduringtheprojectperiod,thequalified
34523449 58manufacturingcompanydiscontinuesthemanufacturingofthenewproduct,ordiscontinues
34533450 59themodificationorexpansionofanexistingproduct,anddoesnotreplaceitwitha
34543451 60subsequentoradditionalnewproductorwithamodificationorexpansionofanexisting
34553452 61product,thecompanyshallimmediatelyceasereceivinganybenefitawardedunderthis
34563453 62subsectionfortheremainderoftheprojectperiodandshallforfeitallrightstoretainor
34573454 63receiveanybenefitawardedunderthissubsectionfortheremainderofsuchperiod.
34583455 64 (4)Notwithstandinganyotherprovisionoflawtothecontrary,anyqualified
34593456 65manufacturingcompanythatisawardedbenefitsunderthissectionshallnotsimultaneously
34603457 66receivetaxcreditsorexemptionsundersections100.700to100.850forthejobscreatedor
34613458 67retainedorcapitalimprovementthatqualifiedforbenefitsunderthissection.Theprovisions
34623459 68ofsubsection5ofsection285.530shallnotapplytoaqualifiedmanufacturingcompanythat
34633460 69isawardedbenefitsunderthissection.
34643461 70 4.Uponapprovalofanoticeofintenttoreceivetaxcreditsundersubsection2,3,6,
34653462 71or7ofthissection,thedepartmentandthequalifiedcompanyshallenterintoawritten
34663463 72agreementcoveringtheapplicableprojectperiod.Theagreementshallspecify,ata
34673464 73minimum:
34683465 74 (1)Thecommittednumberofnewjobs,newpayroll,andnewcapitalinvestment,or
34693466 75themanufacturingcapitalinvestmentandcommittedpercentageofretainedjobsforeachyear
34703467 76duringtheprojectperiod;
3471-HCS#2HB1007 95 77 (2)Thedateortimeperiodduringwhichthetaxcreditsshallbeissued,whichmaybe
3468+77 (2)Thedateortimeperiodduringwhichthetaxcreditsshallbeissued,whichmaybe
34723469 78immediatelyoroveraperiodnottoexceedtwoyearsfromthedateofapprovalofthenotice
34733470 79ofintent;
34743471 80 (3)Clawbackprovisions,asmayberequiredbythedepartment;
34753472 81 (4)Financialguaranteeprovisionsasmayberequiredbythedepartment,provided
34763473 82thatfinancialguaranteeprovisionsshallberequiredbythedepartmentfortaxcreditsawarded
34773474 83undersubsection7ofthissection;and
34783475 84 (5)Anyotherprovisionsthedepartmentmayrequire.
34793476 85 5.Inlieuofthebenefitsavailableundersubsections1and2ofthissection,andin
34803477 86exchangefortheconsiderationprovidedbythenewtaxrevenuesandothereconomicstimuli
34813478 87thatwillbegeneratedbythenewjobscreatedbytheprogram,aqualifiedcompanymay,fora
3482-88periodoffiveyearsfromthedatethenewjobsarecreated,orforaperiodofsixyearsfrom
3479+HCSHB1007 95 88periodoffiveyearsfromthedatethenewjobsarecreated,orforaperiodofsixyearsfrom
34833480 89thedatethenewjobsarecreatedifthequalifiedcompanyisanexistingMissouribusiness,
34843481 90retainanamountequaltothewithholdingtaxascalculatedundersubdivision(38)ofsection
34853482 91620.2005fromthenewjobsthatwouldotherwisebewithheldandremittedbythequalified
34863483 92companyundertheprovisionsofsections143.191to143.265equalto:
34873484 93 (1)Sixpercentofnewpayrollforaperiodoffiveyearsfromthedatetherequired
34883485 94numberofnewjobswerecreatedifthequalifiedcompanycreatesonehundredormorenew
34893486 95jobsandtheaveragewageofthenewpayrollequalsorexceedsonehundredtwentypercent
34903487 96ofthecountyaveragewageofthecountyinwhichtheprojectfacilityislocated;or
34913488 97 (2)Sevenpercentofnewpayrollforaperiodoffiveyearsfromthedatetherequired
34923489 98numberofjobswerecreatedifthequalifiedcompanycreatesonehundredormorenewjobs
34933490 99andtheaveragewageofthenewpayrollequalsorexceedsonehundredfortypercentofthe
34943491 100countyaveragewageofthecountyinwhichtheprojectfacilityislocated.
34953492 101
34963493 102Thedepartmentshallissuearefundabletaxcreditforanydifferencebetweentheamountof
34973494 103benefitallowedunderthissubsectionandtheamountofwithholdingtaxretainedbythe
34983495 104company,intheeventthewithholdingtaxisnotsufficienttoprovidetheentireamountof
34993496 105benefitduetothequalifiedcompanyunderthissubsection.
35003497 106 6.Inadditiontothebenefitsavailableundersubsection5ofthissection,the
35013498 107departmentmayawardaqualifiedcompanythatsatisfiestheprovisionsofsubsection5of
35023499 108thissectionadditionaltaxcredits,issuedeachyearforaperiodoffiveyearsfromthedatethe
35033500 109newjobsarecreated,orforaperiodofsixyearsfromthedatethenewjobsarecreatedifthe
35043501 110qualifiedcompanyisanexistingMissouribusiness,inanamountequaltoorlessthanthree
35053502 111percentofnewpayroll;providedthatinnoeventmaythetotalamountofbenefitsawardedto
35063503 112aqualifiedcompanyunderthissectionexceedninepercentofnewpayrollinanycalendar
35073504 113year.Theamountoftaxcreditsawardedtoaqualifiedcompanyunderthissubsectionshall
3508-HCS#2HB1007 96 114notexceedtheprojectednetfiscalbenefittothestate,asdeterminedbythedepartment,and
3505+114notexceedtheprojectednetfiscalbenefittothestate,asdeterminedbythedepartment,and
35093506 115shallnotexceedtheleastamountnecessarytoobtainthequalifiedcompany'scommitmentto
35103507 116initiatetheproject.Indeterminingtheamountoftaxcreditstoawardtoaqualifiedcompany
35113508 117underthissubsection,thedepartmentshallconsiderthefactorsprovidedundersubsection2
35123509 118ofthissection.
35133510 119 7.Inlieuofthebenefitsavailableundersubsections1,2,5,and6ofthissection,and
35143511 120inexchangefortheconsiderationprovidedbythenewtaxrevenuesandothereconomic
35153512 121stimulithatwillbegeneratedbythenewjobsandnewcapitalinvestmentcreatedbythe
35163513 122program,thedepartmentmayawardaqualifiedcompanythatsatisfiestheprovisionsof
35173514 123subdivision(1)ofsubsection1ofthissectiontaxcredits,issuedwithinoneyearfollowingthe
35183515 124qualifiedcompany'sacceptanceofthedepartment'sproposalforbenefits,inanamountequal
3519-125toorlessthanninepercentofnewpayroll.Theamountoftaxcreditsawardedtoaqualified
3516+HCSHB1007 96 125toorlessthanninepercentofnewpayroll.Theamountoftaxcreditsawardedtoaqualified
35203517 126companyunderthissubsectionshallnotexceedtheprojectednetfiscalbenefittothestate,as
35213518 127determinedbythedepartment,andshallnotexceedtheleastamountnecessarytoobtainthe
35223519 128qualifiedcompany'scommitmenttoinitiatetheproject.Indeterminingtheamountoftax
35233520 129creditstoawardtoaqualifiedcompanyunderthissubsection,thedepartmentshallconsider
35243521 130thefactorsprovidedundersubsection2ofthissectionandthequalifiedcompany's
35253522 131commitmenttonewcapitalinvestmentandnewjobcreationwithinthestateforaperiodof
35263523 132notlessthantenyears.Forthepurposesofthissubsection,eachqualifiedcompanyshall
35273524 133haveanaveragewageofthenewpayrollthatequalsorexceedsonehundredpercentofthe
35283525 134countyaveragewage.Notwithstandingtheprovisionsofsection620.2020tothecontrary,
35293526 135thissubsectionshallexpireonJune30,2025.
35303527 136 8.Nobenefitsshallbeavailableunderthissectionforanyqualifiedcompanythathas
35313528 137performedsignificant,project-specificsiteworkattheprojectfacility,purchasedmachinery
35323529 138orequipmentrelatedtotheproject,orhaspubliclyannounceditsintentiontomakenew
35333530 139capitalinvestmentormanufacturingcapitalinvestmentattheprojectfacilitypriortoreceipt
35343531 140ofaproposalforbenefitsunderthissectionorapprovalofitsnoticeofintent,whichever
35353532 141occursfirst.
35363533 142 9.Inlieuofanyotherbenefitsunderthischapter,thedepartmentofeconomic
35373534 143developmentmayawardataxcredittoanindustrialdevelopmentauthorityforaqualified
35383535 144militaryprojectinanamountequaltotheestimatedwithholdingtaxesassociatedwiththe
35393536 145part-timeandfull-timecivilianandmilitarynewjobslocatedatthefacilityanddirectly
35403537 146impactedbytheproject.Theamountofthetaxcreditshallbecalculatedbymultiplying:
35413538 147 (1)Theaveragepercentageoftaxwithheld,asprovidedbythedepartmentofrevenue
35423539 148tothedepartmentofeconomicdevelopment;
35433540 149 (2)Theaveragesalariesofthejobsdirectlycreatedbythequalifiedmilitaryproject;
35443541 150and
3545-HCS#2HB1007 97 151 (3)Thenumberofjobsdirectlycreatedbythequalifiedmilitaryproject.
3542+151 (3)Thenumberofjobsdirectlycreatedbythequalifiedmilitaryproject.
35463543 152
35473544 153Iftheamountofthetaxcreditrepresentstheleastamountnecessarytoaccomplishthe
35483545 154qualifiedmilitaryproject,thetaxcreditsmaybeissued,butnotaxcreditsshallbeissuedfora
35493546 155termlongerthanfifteenyears.Noqualifiedmilitaryprojectshallbeeligiblefortaxcredits
35503547 156underthissubsectionunlessthedepartmentofeconomicdevelopmentdeterminesthe
35513548 157qualifiedmilitaryprojectshallachieveanetpositivefiscalimpacttothestate.
35523549 620.2020.1.Thedepartmentshallrespondtoawrittenrequest,byoronbehalfofa
35533550 2qualifiedcompanyorqualifiedmilitaryproject,foraproposedbenefitawardunderthe
35543551 3provisionsofthisprogramwithinfivebusinessdaysofreceiptofsuchrequest.The
35553552 4departmentshallrespondtoawrittenrequest,byoronbehalfofaqualifiedmanufacturing
3556-5company,foraproposedbenefitawardundertheprovisionsofthisprogramwithinfifteen
3553+HCSHB1007 97 5company,foraproposedbenefitawardundertheprovisionsofthisprogramwithinfifteen
35573554 6businessdaysofreceiptofsuchrequest.Suchresponseshallcontaineitheraproposalof
35583555 7benefitsforthequalifiedcompanyorqualifiedmilitaryproject,orawrittenresponserefusing
35593556 8toprovidesuchaproposalandstatingthereasonsforsuchrefusal.Aqualifiedcompanyor
35603557 9qualifiedmilitaryprojectthatintendstoseekbenefitsundertheprogramshallsubmittothe
35613558 10departmentanoticeofintent.Thedepartmentshallrespondwithinthirtydaystoanoticeof
35623559 11intentwithanapprovalorarejection,providedthatthedepartmentmaywithholdapprovalor
35633560 12provideacontingentapprovaluntilitissatisfiedthatproperdocumentationofeligibilityhas
35643561 13beenprovided.Thedepartmentshallcertifyorrejectthequalifyingcompany'splanoutlined
35653562 14intheirnoticeofintentassatisfyinggoodfaitheffortsmadetoemploy,ataminimum,
35663563 15commensuratewiththepercentageofminoritypopulationsinthestateofMissouri,as
35673564 16reportedinthepreviousdecennialcensus,thefollowing:racialminorities,contractorswho
35683565 17areracialminorities,andcontractorsthat,inturn,employataminimumracialminorities
35693566 18commensuratewiththepercentageofminoritypopulationsinthestateofMissouri,as
35703567 19reportedinthepreviousdecennialcensus.Failuretorespondonbehalfofthedepartment
35713568 20shallresultinthenoticeofintentbeingdeemedapproved.Aqualifiedcompanyreceiving
35723569 21approvalforprogrambenefitsmayreceiveadditionalbenefitsforsubsequentnewjobsatthe
35733570 22samefacilityafterthefullinitialprojectperiodiftheapplicableminimumjobrequirements
35743571 23aremet.Thereshallbenolimitonthenumberofprojectperiodsaqualifiedcompanymay
35753572 24participateintheprogram,andaqualifiedcompanymayelecttofileanoticeofintentto
35763573 25beginanewprojectperiodconcurrentwithanexistingprojectperiodiftheapplicable
35773574 26minimumjobrequirementsareachieved,thequalifiedcompanyprovidesthedepartmentwith
35783575 27therequiredannualreporting,andthequalifiedcompanyisincompliancewiththisprogram
35793576 28andanyotherstateprogramsinwhichthequalifiedcompanyiscurrentlyorhaspreviously
35803577 29participated.However,thequalifiedcompanyshallnotreceiveanyfurtherprogrambenefits
35813578 30undertheoriginalapprovalforanynewjobscreatedafterthedateofthenewnoticeofintent,
3582-HCS#2HB1007 98 31andanyjobscreatedbeforethenewnoticeofintentshallnotbeincludedasnewjobsfor
3579+31andanyjobscreatedbeforethenewnoticeofintentshallnotbeincludedasnewjobsfor
35833580 32purposesofthebenefitcalculationforthenewapproval.Whenaqualifiedcompanyhasfiled
35843581 33andreceivedapprovalofanoticeofintentandsubsequentlyfilesanothernoticeofintent,the
35853582 34departmentshallapplythedefinitionofprojectfacilityundersubdivision(24)ofsection
35863583 35620.2005tothenewnoticeofintentaswellasallpreviouslyapprovednoticesofintentand
35873584 36shalldeterminetheapplicationofthedefinitionsofnewjob,newpayroll,projectfacilitybase
35883585 37employment,andprojectfacilitybasepayrollaccordingly.
35893586 38 2.Notwithstandinganyprovisionoflawtothecontrary,thebenefitsavailabletothe
35903587 39qualifiedcompanyunderanyotherstateprogramsforwhichthecompanyiseligibleand
35913588 40whichutilizewithholdingtaxfromtheneworretainedjobsofthecompanyshallfirstbe
35923589 41creditedtotheotherstateprogrambeforethewithholdingretentionlevelapplicableunderthis
3593-42programwillbegintoaccrue.Ifanyqualifiedcompanyalsoparticipatesinajobtraining
3590+HCSHB1007 98 42programwillbegintoaccrue.Ifanyqualifiedcompanyalsoparticipatesinajobtraining
35943591 43programutilizingwithholdingtax,thecompanyshallretainnowithholdingtaxunderthis
35953592 44program,butthedepartmentshallissuearefundabletaxcreditforthefullamountofbenefit
35963593 45allowedunderthisprogram.Thecalendaryearannualmaximumamountoftaxcreditswhich
35973594 46maybeissuedtoaqualifyingcompanythatalsoparticipatesinajobtrainingprogramshallbe
35983595 47increasedbyanamountequivalenttothewithholdingtaxretainedbythatcompanyundera
35993596 48jobstrainingprogram.
36003597 49 3.Aqualifiedcompanyorqualifiedmilitaryprojectreceivingbenefitsunderthis
36013598 50programshallprovideanannualreportofthenumberofjobs,alongwithminorityjobs
36023599 51createdorretained,andsuchotherinformationasmayberequiredbythedepartmentto
36033600 52documentthebasisforprogrambenefitsavailablenolaterthanninetydayspriortotheendof
36043601 53thequalifiedcompany'sorindustrialdevelopmentauthority'staxyearimmediatelyfollowing
36053602 54thetaxyearforwhichthebenefitsprovidedundertheprogramareattributed.Insuchannual
36063603 55report,iftheaveragewageisbelowtheapplicablepercentageofthecountyaveragewage,the
36073604 56qualifiedcompanyorqualifiedmilitaryprojecthasnotmaintainedtheemployeeinsuranceas
36083605 57required,ifthedepartmentafterareviewdeterminesthequalifyingcompanyfailstosatisfy
36093606 58otheraspectsoftheirnoticeofintent,includingfailuretomakegoodfaitheffortstoemploy,
36103607 59ataminimum,commensuratewiththepercentageofminoritypopulationsinthestateof
36113608 60Missouri,asreportedinthepreviousdecennialcensus,thefollowing:racialminorities,
36123609 61contractorswhoareracialminorities,andcontractorsthat,inturn,employataminimum
36133610 62racialminoritiescommensuratewiththepercentageofminoritypopulationsinthestateof
36143611 63Missouri,asreportedinthepreviousdecennialcensus,orifthenumberofjobsisbelowthe
36153612 64numberrequired,thequalifiedcompanyorqualifiedmilitaryprojectshallnotreceivetax
36163613 65creditsorretainthewithholdingtaxforthebalanceoftheprojectperiod.Ifastatewidestate
36173614 66ofemergencyexistsformorethansixteenmonths,aqualifiedcompanyorindustrial
36183615 67developmentauthorityshallbeentitledtoaone-timesuspensionofprogramdeadlinesequal
3619-HCS#2HB1007 99 68tothenumberofmonthssuchstatewidestateofemergencyexistedwithanypartialmonth
3616+68tothenumberofmonthssuchstatewidestateofemergencyexistedwithanypartialmonth
36203617 69roundedtothenextwhole.Duringsuchsuspension,thequalifiedcompanyorindustrial
36213618 70developmentauthorityshallnotbeentitledtoretainanywithholdingtaxascalculatedunder
36223619 71subdivision(38)ofsection620.2005norshallitearnanyawardedtaxcreditorreceiveany
36233620 72taxcreditundertheprogramforthesuspensionperiod.Thesuspensionperiodshallrun
36243621 73consecutivelyandbeavailabletoaqualifiedcompanyorindustrialdevelopmentauthority
36253622 74that,duringthestatewidestateofemergency,submittednoticeofintentthatwasapprovedor
36263623 75thatwasinyearoneorasubsequentyearofbenefitsunderaprogramagreementwiththe
36273624 76department.Thesuspensionperiodthatrunsconsecutivelyandmaybeavailabletoa
36283625 77qualifiedcompanyorindustrialdevelopmentauthorityasprovidedinthissubsectionmay
36293626 78applyretroactively.Anyqualifiedcompanyorindustrialdevelopmentauthorityrequestinga
3630-79suspensionpursuanttothissubsectionshallsubmitnoticetothedepartmentonitsprovided
3627+HCSHB1007 99 79suspensionpursuanttothissubsectionshallsubmitnoticetothedepartmentonitsprovided
36313628 80formidentifyingtherequestedstartandenddatesofthesuspension,nottoexceedthe
36323629 81maximumnumberofmonthsavailableunderthissubsection.Suchnoticeshallbesubmitted
36333630 82tothedepartmentnotlaterthantheendofthetwelfthmonthfollowingtheterminationofthe
36343631 83stateofemergency.Nosuspensionperiodshallstartlaterthanthedateonwhichthestateof
36353632 84emergencywasterminated.Thedepartmentandthequalifiedcompanyortheindustrial
36363633 85developmentauthorityshallenterintoaprogramagreementorshallamendanexisting
36373634 86programagreement,asapplicable,statingthedeadlinesfollowingthesuspensionperiodand
36383635 87updatingtheapplicablewagerequirements.Failuretotimelyfiletheannualreportrequired
36393636 88underthissectionmayresultintheforfeitureoftaxcreditsattributabletotheyearforwhich
36403637 89thereportingwasrequiredandarecaptureofwithholdingtaxesretainedbythequalified
36413638 90companyorqualifiedmilitaryprojectduringsuchyear.
36423639 91 4.Thedepartmentmaywithholdtheapprovalofanybenefitsunderthisprogramuntil
36433640 92itissatisfiedthatproperdocumentationhasbeenprovided,andshallreducethebenefitsto
36443641 93reflectanyreductioninfull-timeemployeesorpayroll.Uponapprovalbythedepartment,the
36453642 94qualifiedcompanymaybegintheretentionofthewithholdingtaxeswhenitreachesthe
36463643 95requirednumberofjobsandtheaveragewagemeetsorexceedstheapplicablepercentageof
36473644 96countyaveragewage.Taxcredits,ifany,maybeissueduponsatisfactionbythedepartment
36483645 97thatthequalifiedcompanyhasexceededtheapplicablepercentageofcountyaveragewage
36493646 98andtherequirednumberofjobs;providedthat,taxcreditsawardedundersubsection7of
36503647 99section620.2010maybeissuedfollowingthequalifiedcompany'sacceptanceofthe
36513648 100department'sproposalandpursuanttotherequirementssetforthinthewrittenagreement
36523649 101betweenthedepartmentandthequalifiedcompanyundersubsection4ofsection620.2010.
36533650 102 5.Anyqualifiedcompanyorqualifiedmilitaryprojectapprovedforbenefitsunder
36543651 103thisprogramshallprovidetothedepartment,uponrequest,anyandallinformationand
36553652 104recordsreasonablyrequiredtomonitorcompliancewithprogramrequirements.This
3656-HCS#2HB1007 100 105programshallbeconsideredabusinessrecruitmenttaxcreditundersubdivision(3)of
3653+105programshallbeconsideredabusinessrecruitmenttaxcreditundersubdivision(3)of
36573654 106subsection2ofsection135.800,andanyqualifiedcompanyorqualifiedmilitaryproject
36583655 107approvedforbenefitsunderthisprogramshallbesubjecttotheprovisionsofsections
36593656 108135.800to135.830.
36603657 109 6.Anytaxpayerwhoisawardedbenefitsunderthisprogramwhoknowinglyhires
36613658 110individualswhoarenotallowedtoworklegallyintheUnitedStatesshallimmediatelyforfeit
36623659 111suchbenefitsandshallrepaythestateanamountequaltoanystatetaxcreditsalready
36633660 112redeemedandanywithholdingtaxesalreadyretained.
36643661 113 7.(1)Themaximumamountoftaxcreditsthatmaybeauthorizedunderthisprogram
36653662 114foranyfiscalyearshallbelimitedasfollows,lesstheamountofanytaxcreditspreviously
3666-115obligatedforthatfiscalyearunderanyofthetaxcreditprogramsreferencedinsubsection14
3663+HCSHB1007 100 115obligatedforthatfiscalyearunderanyofthetaxcreditprogramsreferencedinsubsection14
36673664 116ofthissection:
36683665 117 (a)ForthefiscalyearbeginningonJuly1,2013,butendingonorbeforeJune30,
36693666 1182014,nomorethanonehundredsixmilliondollarsintaxcreditsmaybeauthorized;
36703667 119 (b)ForthefiscalyearbeginningonJuly1,2014,butendingonorbeforeJune30,
36713668 1202015,nomorethanonehundredelevenmilliondollarsintaxcreditsmaybeauthorized;
36723669 121 (c)ForfiscalyearsbeginningonorafterJuly1,2015,butendingonorbeforeJune
36733670 12230,2020,nomorethanonehundredsixteenmilliondollarsintaxcreditsmaybeauthorized
36743671 123foreachfiscalyear;and
36753672 124 (d)ForallfiscalyearsbeginningonorafterJuly1,2020,nomorethanonehundred
36763673 125sixmilliondollarsintaxcreditsmaybeauthorizedforeachfiscalyear.Theprovisionsofthis
36773674 126paragraphshallnotapplytotaxcreditsissuedtoqualifiedcompaniesunderanoticeofintent
36783675 127filedpriortoJuly1,2020.
36793676 128 (2)ForallfiscalyearsbeginningonorafterJuly1,2020,inadditiontotheamountof
36803677 129taxcreditsthatmaybeauthorizedunderparagraph(d)ofsubdivision(1)ofthissubsection,
36813678 130anadditionaltenmilliondollarsintaxcreditsmaybeauthorizedforeachfiscalyearforthe
36823679 131purposeofthecompletionofinfrastructureprojectsdirectlyconnectedwiththecreationor
36833680 132retentionofjobsundertheprovisionsofsections620.2000to620.2020andanadditionalten
36843681 133milliondollarsintaxcreditsmaybeauthorizedforeachfiscalyearforaqualified
36853682 134manufacturingcompanybasedonamanufacturingcapitalinvestmentassetforthinsection
36863683 135620.2010.
36873684 136 8.ForallfiscalyearsbeginningonorafterJuly1,2020,themaximumtotalamount
36883685 137ofwithholdingtaxthatmaybeauthorizedforretentionforthecreationofnewjobsunderthe
36893686 138provisionsofsections620.2000to620.2020byqualifiedcompanieswithaprojectfacility
36903687 139baseemploymentofatleastfiftyshallnotexceedseventy-fivemilliondollarsforeachfiscal
36913688 140year.Theprovisionsofthissubsectionshallnotapplytowithholdingtaxauthorizedfor
3692-HCS#2HB1007 101 141retentionforthecreationofnewjobsbyqualifiedcompanieswithaprojectfacilitybase
3689+141retentionforthecreationofnewjobsbyqualifiedcompanieswithaprojectfacilitybase
36933690 142employmentoflessthanfifty.
36943691 143 9.Fortaxcreditsforthecreationofnewjobsundersection620.2010,thedepartment
36953692 144shallallocatetheannualtaxcreditsbasedonthedateoftheapproval,reservingsuchtax
36963693 145creditsbasedonthedepartment'sbestestimateofnewjobsandnewpayrolloftheproject,
36973694 146andanyotherapplicablefactorsindeterminingtheamountofbenefitsavailabletothe
36983695 147qualifiedcompanyorqualifiedmilitaryprojectunderthisprogram;providedthat,the
36993696 148departmentmayreserveuptotwenty-oneandone-halfpercentofthemaximumannual
37003697 149amountoftaxcreditsthatmaybeauthorizedundersubsection7ofthissectionforaward
37013698 150undersubsection7ofsection620.2010.However,theannualissuanceoftaxcreditsshallbe
37023699 151subjecttoannualverificationofactualpayrollbythedepartmentor,forqualifiedmilitary
3703-152projects,annualverificationofaveragesalaryforthejobsdirectlycreatedbythequalified
3700+HCSHB1007 101 152projects,annualverificationofaveragesalaryforthejobsdirectlycreatedbythequalified
37043701 153militaryproject.Anyauthorizationoftaxcreditsshallexpireif,withintwoyearsfromthe
37053702 154dateofcommencementofoperations,orapprovalifapplicable,thequalifiedcompanyhas
37063703 155failedtomeettheapplicableminimumjobrequirements.Thequalifiedcompanymayretain
37073704 156authorizedamountsfromthewithholdingtaxundertheprojectoncetheapplicableminimum
37083705 157jobrequirementshavebeenmetforthedurationoftheprojectperiod.Nobenefitsshallbe
37093706 158providedunderthisprogramuntilthequalifiedcompanyorqualifiedmilitaryprojectmeets
37103707 159theapplicableminimumnewjobrequirementsor,forbenefitsawardedundersubsection7of
37113708 160section620.2010,untilthequalifiedcompanyhassatisfiedtherequirementssetforthinthe
37123709 161writtenagreementbetweenthedepartmentandthequalifiedcompanyundersubsection4of
37133710 162section620.2010.Intheeventthequalifiedcompanyorqualifiedmilitaryprojectdoesnot
37143711 163meettheapplicableminimumnewjobrequirements,thequalifiedcompanyorqualified
37153712 164militaryprojectmaysubmitanewnoticeofintentorthedepartmentmayprovideanew
37163713 165approvalforanewprojectofthequalifiedcompanyorqualifiedmilitaryprojectattheproject
37173714 166facilityorotherfacilities.
37183715 167 10.Taxcreditsprovidedunderthisprogrammaybeclaimedagainsttaxesotherwise
37193716 168imposedbychapters143and148,andmaynotbecarriedforward,butshallbeclaimed
37203717 169withinoneyearofthecloseofthe[taxable] taxyearforwhichtheywereissued.Taxcredits
37213718 170providedunderthisprogrammaybetransferred,sold,orassignedbyfilinganotarized
37223719 171endorsementthereofwiththedepartmentthatnamesthetransferee,theamountoftaxcredit
37233720 172transferred,andthevaluereceivedforthecredit,aswellasanyotherinformationreasonably
37243721 173requestedbythedepartment.Foraqualifiedcompanywithflow-throughtaxtreatmenttoits
37253722 174members,partners,orshareholders,thetaxcreditshallbeallowedtomembers,partners,or
37263723 175shareholdersinproportiontotheirshareofownershiponthelastdayofthequalified
37273724 176company'staxperiod.
3728-HCS#2HB1007 102 177 11.Priortotheissuanceoftaxcreditsorthequalifiedcompanybeginningtoretain
3725+177 11.Priortotheissuanceoftaxcreditsorthequalifiedcompanybeginningtoretain
37293726 178withholdingtaxes,thedepartmentshallverifythroughthedepartmentofrevenueandany
37303727 179otherapplicablestatedepartmentthatthetaxcreditapplicantdoesnotoweanydelinquent
37313728 180income,sales,orusetaxorinterestorpenaltiesonsuchtaxes,oranydelinquentfeesor
37323729 181assessmentsleviedbyanystatedepartmentandthroughthedepartmentofcommerceand
37333730 182insurancethattheapplicantdoesnotoweanydelinquentinsurancetaxesorotherfees.Such
37343731 183delinquencyshallnotaffecttheapproval,exceptthatanytaxcreditsissuedshallbefirst
37353732 184appliedtothedelinquencyandanyamountissuedshallbereducedbytheapplicant'stax
37363733 185delinquency.Ifthedepartmentofrevenue,thedepartmentofcommerceandinsurance,orany
37373734 186otherstatedepartmentconcludesthatataxpayerisdelinquentafterJunefifteenthbutbefore
37383735 187Julyfirstofanyyearandtheapplicationoftaxcreditstosuchdelinquencycausesatax
37393736 188deficiencyonbehalfofthetaxpayertoarise,thenthetaxpayershallbegrantedthirtydaysto
3740-189satisfythedeficiencyinwhichinterest,penalties,andadditionstotaxshallbetolled.After
3737+HCSHB1007 102 189satisfythedeficiencyinwhichinterest,penalties,andadditionstotaxshallbetolled.After
37413738 190applyingallavailablecreditstowardataxdelinquency,theadministeringagencyshallnotify
37423739 191theappropriatedepartmentandthatdepartmentshallupdatetheamountofoutstanding
37433740 192delinquenttaxowedbytheapplicant.Ifanycreditsremainaftersatisfyingallinsurance,
37443741 193income,sales,andusetaxdelinquencies,theremainingcreditsshallbeissuedtothe
37453742 194applicant,subjecttotherestrictionsofotherprovisionsoflaw.
37463743 195 12.Thedirectorofrevenueshallissuearefundtothequalifiedcompanytotheextent
37473744 196thattheamountoftaxcreditsallowedunderthisprogramexceedstheamountofthequalified
37483745 197company'staxliabilityunderchapter143or148.
37493746 198 13.Anemployeeofaqualifiedcompanyshallreceivefullcreditfortheamountoftax
37503747 199withheldasprovidedinsection143.211.
37513748 200 14.[Notwithstandinganyprovisionoflawtothecontrary,beginningAugust28,
37523749 2012013,nonewbenefitsshallbeauthorizedforanyprojectthathadnotreceivedfromthe
37533750 202departmentaproposalorapprovalforsuchbenefitspriortoAugust28,2013,underthe
37543751 203developmenttaxcreditprogramcreatedundersections32.100to32.125,therebuilding
37553752 204communitiestaxcreditprogramcreatedundersection135.535,theenhancedenterprisezone
37563753 205taxcreditprogramcreatedundersections135.950to135.973,andtheMissouriqualityjobs
37573754 206programcreatedundersections620.1875to620.1890.Theprovisionsofthissubsectionshall
37583755 207notbeconstruedtolimitorimpairtheabilityofanyadministeringagencytoauthorizeor
37593756 208issuebenefitsforanyprojectthathadreceivedanapprovaloraproposalfromthedepartment
37603757 209underanyoftheprogramsreferencedinthissubsectionpriortoAugust28,2013,orthe
37613758 210abilityofanytaxpayertoredeemanysuchtaxcreditsortoretainanywithholdingtaxunder
37623759 211anapprovalissuedpriortothatdate.Theprovisionsofthissubsectionshallnotbeconstrued
37633760 212tolimitorinanywayimpairtheabilityofanygoverningauthoritytoprovideanylocal
37643761 213abatementordesignateanewzoneundertheenhancedenterprisezoneprogramcreatedby
3765-HCS#2HB1007 103 214sections135.950to135.963.Notwithstandinganyprovisionoflawtothecontrary,no
3762+214sections135.950to135.963.Notwithstandinganyprovisionoflawtothecontrary,no
37663763 215qualifiedcompanythatisawardedbenefitsunderthisprogramshall:
37673764 216 (1)Simultaneouslyreceivebenefitsundertheprogramsreferencedinthissubsection
37683765 217atthesamecapitalinvestment;or
37693766 218 (2)Receivebenefitsundertheprovisionsofsection620.1910forthesamejobs.
37703767 219 15.]Ifanyprovisionofsections620.2000to620.2020orapplicationthereoftoany
37713768 220personorcircumstanceisheldinvalid,theinvalidityshallnotaffectotherprovisionsor
37723769 221applicationofthesesectionswhichcanbegiveneffectwithouttheinvalidprovisionsor
37733770 222application,andtothisend,theprovisionsofsections620.2000to620.2020arehereby
37743771 223declaredseverable.
37753772 224 [16.]15.BynolaterthanJanuary1,2014,andthefirstdayofeachcalendarquarter
37763773 225thereafter,thedepartmentshallpresentaquarterlyreporttothegeneralassemblydetailingthe
3777-226benefitsauthorizedunderthisprogramduringtheimmediatelyprecedingcalendarquarterto
3774+HCSHB1007 103 226benefitsauthorizedunderthisprogramduringtheimmediatelyprecedingcalendarquarterto
37783775 227theextentsuchinformationmaybedisclosedunderstateandfederallaw.Thereportshall
37793776 228include,ataminimum:
37803777 229 (1)Alistofallapprovedanddisapprovedapplicantsforeachtaxcredit;
37813778 230 (2)Alistoftheaggregateamountofneworretainedjobsthataredirectlyattributable
37823779 231tothetaxcreditsauthorized;
37833780 232 (3)Astatementoftheaggregateamountofnewcapitalinvestmentdirectly
37843781 233attributabletothetaxcreditsauthorized;
37853782 234 (4)Documentationoftheestimatednetstatefiscalbenefitforeachauthorizedproject
37863783 235and,totheextentavailable,theactualbenefitrealizeduponcompletionofsuchprojector
37873784 236activity;and
37883785 237 (5)Thedepartment'sresponsetimeforeachrequestforaproposedbenefitaward
37893786 238underthisprogram.
37903787 239 [17.]16.Thedepartmentmayadoptsuchrules,statementsofpolicy,procedures,
37913788 240forms,andguidelinesasmaybenecessarytocarryouttheprovisionsofsections620.2000to
37923789 241620.2020.Anyruleorportionofarule,asthattermisdefinedinsection536.010,thatis
37933790 242createdundertheauthoritydelegatedinthissectionshallbecomeeffectiveonlyifitcomplies
37943791 243withandissubjecttoalloftheprovisionsofchapter536and,ifapplicable,section536.028.
37953792 244Thissectionandchapter536arenonseverableandifanyofthepowersvestedwiththe
37963793 245generalassemblypursuanttochapter536toreview,todelaytheeffectivedate,orto
37973794 246disapproveandannularulearesubsequentlyheldunconstitutional,thenthegrantof
37983795 247rulemakingauthorityandanyruleproposedoradoptedafterAugust28,2013,shallbeinvalid
37993796 248andvoid.
38003797 249 [18.]17.Undersection23.253oftheMissourisunsetact:
3801-HCS#2HB1007 104 250 (1)Theprovisionsoftheprogramauthorizedundersections620.2000to620.2020
3798+250 (1)Theprovisionsoftheprogramauthorizedundersections620.2000to620.2020
38023799 251shallbereauthorizedasofAugust28,2018,andshallexpireonAugust28,2030;and
38033800 252 (2)Ifsuchprogramisreauthorized,theprogramauthorizedunderthissectionshall
38043801 253automaticallysunsettwelveyearsaftertheeffectivedateofthereauthorizationofsections
38053802 254620.2000to620.2020;and
38063803 255 (3)Sections620.2000to620.2020shallterminateonSeptemberfirstofthecalendar
38073804 256yearimmediatelyfollowingthecalendaryearinwhichtheprogramauthorizedundersections
38083805 257620.2000to620.2020issunset.
38093806 [99.1205.1.Thissectionshallbeknownandmaybecitedasthe
38103807 2 "DistressedAreasLandAssemblageTaxCreditAct".
38113808 3 2.Asusedinthissection,thefollowingtermsmean:
38123809 4 (1)"Acquisitioncosts",thepurchasepricefortheeligibleparcel,costs
38133810 5 ofenvironmentalassessments,closingcosts,realestatebrokeragefees,
38143811 6 reasonabledemolitioncostsofvacantstructures,andreasonablemaintenance
3815-7 costsincurredtomaintainanacquiredeligibleparcelforaperiodoffiveyears
3812+HCSHB1007 104 7 costsincurredtomaintainanacquiredeligibleparcelforaperiodoffiveyears
38163813 8 aftertheacquisitionofsucheligibleparcel.Acquisitioncostsshallnotinclude
38173814 9 costsfortitleinsuranceandsurvey,attorney'sfees,relocationcosts,fines,or
38183815 10 billsfromamunicipality;
38193816 11 (2)"Applicant",anyperson,firm,partnership,trust,limitedliability
38203817 12 company,orcorporationwhichhas:
38213818 13 (a)Incurred,withinaneligibleprojectarea,acquisitioncostsforthe
38223819 14 acquisitionoflandsufficienttosatisfytherequirementsundersubdivision(8)
38233820 15 ofthissubsection;and
38243821 16 (b)Beenappointedorselected,pursuanttoaredevelopment
38253822 17 agreementbyamunicipalauthority,asaredeveloperorsimilardesignation,
38263823 18 underaneconomicincentivelaw,toredevelopanurbanrenewalareaora
38273824 19 redevelopmentareathatincludesallofaneligibleprojectareaorwhose
38283825 20 redevelopmentplanorredevelopmentarea,whichencompassesallofan
38293826 21 eligibleprojectarea,hasbeenapprovedoradoptedunderaneconomic
38303827 22 incentivelaw.Inadditiontobeingdesignatedtheredeveloper,theapplicant
38313828 23 shallhavebeendesignatedtoreceiveeconomicincentivesonlyafterthe
38323829 24 municipalauthorityhasconsideredtheamountofthetaxcreditsinadopting
38333830 25 sucheconomicincentivesasprovidedinsubsection8ofthissection.The
38343831 26 redevelopmentagreementshallprovidethat:
38353832 27 a.Thefundsgeneratedthroughtheuseorsaleofthetaxcreditsissued
38363833 28 underthissectionshallbeusedtoredeveloptheeligibleprojectarea;
38373834 29 b.Nomorethanseventy-fivepercentoftheurbanrenewalarea
38383835 30 identifiedintheurbanrenewalplanortheredevelopmentareaidentifiedinthe
38393836 31 redevelopmentplanmayberedevelopedbytheapplicant;and
38403837 32 c.Theremainderoftheurbanrenewalareaortheredevelopmentarea
38413838 33 shallberedevelopedbyco-redevelopersorredeveloperstowhomthe
38423839 34 applicanthasassigneditsredevelopmentrightsandobligationsunderthe
38433840 35 urbanrenewalplanortheredevelopmentplan;
38443841 36 (3)"Certificate",ataxcreditcertificateissuedunderthissection;
3845-HCS#2HB1007 105 37 (4)"Condemnationproceedings",anyactiontakenby,oronbehalfof,
3842+37 (4)"Condemnationproceedings",anyactiontakenby,oronbehalfof,
38463843 38 anapplicanttoinitiateanactioninacourtofcompetentjurisdictiontousethe
38473844 39 powerofeminentdomaintoacquireaparcelwithintheeligibleprojectarea.
38483845 40 Condemnationproceedingsshallincludeanyandallactionstakenafterthe
38493846 41 submissionofanoticeofintendedacquisitiontoanownerofaparcelwithin
38503847 42 theeligibleprojectareabyamunicipalauthorityoranyotherpersonorentity
38513848 43 undersection523.250;
38523849 44 (5)"Department",theMissouridepartmentofeconomicdevelopment;
38533850 45 (6)"Economicincentivelaws",anyprovisionofMissourilaw
38543851 46 pursuanttowhicheconomicincentivesareprovidedtoredevelopersofa
38553852 47 parcelorparcelstoredeveloptheland,suchastaxabatementorpaymentsin
38563853 48 lieuoftaxes,orredevelopmentplansorredevelopmentprojectsapprovedor
38573854 49 adoptedwhichincludetheuseofeconomicincentivestoredeveloptheland.
38583855 50 Economicincentivelawsinclude,butarenotlimitedto,thelandclearancefor
38593856 51 redevelopmentauthoritylawundersections99.300to99.660,therealproperty
38603857 52 taxincrementallocationredevelopmentactundersections99.800to99.865,
38613858 53 theMissouridowntownandruraleconomicstimulusactundersections99.915
3862-54 to99.1060,andthedowntownrevitalizationpreservationprogramunder
3859+HCSHB1007 105 54 to99.1060,andthedowntownrevitalizationpreservationprogramunder
38633860 55 sections99.1080to99.1092;
38643861 56 (7)"Eligibleparcel",aparcel:
38653862 57 (a)Whichislocatedwithinaneligibleprojectarea;
38663863 58 (b)Whichistoberedeveloped;
38673864 59 (c)Onwhichtheapplicanthasnotcommencedconstructionpriorto
38683865 60 November28,2007;
38693866 61 (d)Whichhasbeenacquiredwithoutthecommencementofany
38703867 62 condemnationproceedingswithrespecttosuchparcelbroughtbyoronbehalf
38713868 63 oftheapplicant.Anyparcelacquiredbytheapplicantfromamunicipal
38723869 64 authorityshallnotconstituteaneligibleparcel;and
38733870 65 (e)Onwhichalloutstandingtaxes,fines,andbillsleviedbymunicipal
38743871 66 governmentsthatwereleviedbythemunicipalityduringthetimeperiodthat
38753872 67 theapplicantheldtitletotheeligibleparcelhavebeenpaidinfull;
38763873 68 (8)"Eligibleprojectarea",anareawhichshallhavesatisfiedthe
38773874 69 followingrequirements:
38783875 70 (a)Theeligibleprojectareashallconsistofatleastseventy-fiveacres
38793876 71 andmayincludeparcelswithinitsboundariesthatdonotconstituteaneligible
38803877 72 parcel;
38813878 73 (b)Atleasteightypercentoftheeligibleprojectareashallbelocated
38823879 74 withinaMissouriqualifiedcensustractarea,asdesignatedbytheUnited
38833880 75 StatesDepartmentofHousingandUrbanDevelopmentunder26U.S.C.
38843881 76 Section42,orwithinadistressedcommunityasthattermisdefinedinsection
38853882 77 135.530;
38863883 78 (c)Theeligibleparcelsacquiredbytheapplicantwithintheeligible
38873884 79 projectareashalltotalatleastfiftyacres,whichmayconsistofcontiguousand
38883885 80 noncontiguousparcels;
38893886 81 (d)Theaveragenumberofparcelsperacreinaneligibleprojectarea
38903887 82 shallbefourormore;
38913888 83 (e)Lessthanfivepercentoftheacreagewithintheboundariesofthe
38923889 84 eligibleprojectareashallconsistofowner-occupiedresidenceswhichthe
3893-HCS#2HB1007 106 85 applicanthasidentifiedforacquisitionundertheurbanrenewalplanorthe
3890+85 applicanthasidentifiedforacquisitionundertheurbanrenewalplanorthe
38943891 86 redevelopmentplanpursuanttowhichtheapplicantwasappointedorselected
38953892 87 astheredeveloperorbywhichthepersonorentitywasqualifiedasan
38963893 88 applicantunderthissectiononthedateoftheapprovaloradoptionofsuch
38973894 89 plan;
38983895 90 (9)"Interestcosts",interest,loanfees,andclosingcosts.Interestcosts
38993896 91 shallnotincludeattorney'sfees;
39003897 92 (10)"Maintenancecosts",costsofboardingupandsecuringvacant
39013898 93 structures,costsofremovingtrash,andcostsofcuttinggrassandweeds;
39023899 94 (11)"Municipalauthority",anycity,town,village,county,public
39033900 95 bodycorporateandpolitic,politicalsubdivision,orlandtrustofthisstate
39043901 96 establishedandauthorizedtoownlandwithinthestate;
39053902 97 (12)"Municipality",anycity,town,village,orcounty;
39063903 98 (13)"Parcel",asinglelotortractofland,andtheimprovements
39073904 99 thereon,ownedby,orrecordedasthepropertyof,oneormorepersonsor
39083905 100 entities;
3909-101 (14)"Redeveloped",theprocessofundertakingandcarryingouta
3906+HCSHB1007 106 101 (14)"Redeveloped",theprocessofundertakingandcarryingouta
39103907 102 redevelopmentplanorurbanrenewalplanpursuanttowhichtheconditions
39113908 103 whichprovidedthebasisforaneligibleprojectareatobeincludedina
39123909 104 redevelopmentplanorurbanrenewalplanaretobereducedoreliminatedby
39133910 105 redevelopmentorrehabilitation;and
39143911 106 (15)"Redevelopmentagreement",theredevelopmentagreementor
39153912 107 similaragreementintowhichtheapplicantenteredwithamunicipalauthority
39163913 108 andwhichistheagreementfortheimplementationoftheurbanrenewalplan
39173914 109 orredevelopmentplanpursuanttowhichtheapplicantwasappointedor
39183915 110 selectedastheredeveloperorbywhichthepersonorentitywasqualifiedasan
39193916 111 applicantunderthissection;andsuchappointmentorselectionshallhavebeen
39203917 112 approvedbyanordinanceofthegoverningbodyofthemunicipality,or
39213918 113 municipalities,orinthecaseofanycitynotwithinacounty,theboardof
39223919 114 aldermen,inwhichtheeligibleprojectareaislocated.Theredevelopment
39233920 115 agreementshallincludeatimelineforredevelopmentoftheeligibleproject
39243921 116 area.Theredevelopmentagreementshallstatethatthenameddevelopershall
39253922 117 besubjecttotheprovisionsofchapter290.
39263923 118 3.Anyapplicantshallbeentitledtoataxcreditagainstthetaxes
39273924 119 imposedunderchapters143,147,and148,exceptforsections143.191to
39283925 120 143.265,inanamountequaltofiftypercentoftheacquisitioncosts,andone
39293926 121 hundredpercentoftheinterestcostsincurredforaperiodoffiveyearsafter
39303927 122 theacquisitionofaneligibleparcel.Notaxcreditsshallbeissuedunderthis
39313928 123 sectionuntilafterJanuary1,2008.
39323929 124 4.Iftheamountofsuchtaxcreditexceedsthetotaltaxliabilityforthe
39333930 125 yearinwhichtheapplicantisentitledtoreceiveataxcredit,theamountthat
39343931 126 exceedsthestatetaxliabilitymaybecarriedforwardforcreditagainstthe
39353932 127 taxesimposedunderchapters143,147,and148forthesucceedingsixyears,
39363933 128 oruntilthefullcreditisused,whicheveroccursfirst.Theapplicantshallnot
39373934 129 beentitledtoataxcreditfortaxesimposedundersections143.191to143.265.
39383935 130 Applicantsentitledtoreceivesuchtaxcreditsmaytransfer,sell,orassignthe
39393936 131 taxcredits.Taxcreditsgrantedtoapartnership,alimitedliabilitycompany
39403937 132 taxedasapartnership,ormultipleownersofpropertyshallbepassedthrough
3941-HCS#2HB1007 107 133 tothepartners,members,orownersrespectivelyprorataorpursuanttoan
3938+133 tothepartners,members,orownersrespectivelyprorataorpursuanttoan
39423939 134 executedagreementamongthepartners,members,orownersdocumentingan
39433940 135 alternatedistributionmethod.
39443941 136 5.Apurchaser,transferee,orassigneeofthetaxcreditsauthorized
39453942 137 underthissectionmayuseacquiredtaxcreditstooffsetuptoonehundred
39463943 138 percentofthetaxliabilitiesotherwiseimposedunderchapters143,147,and
39473944 139 148,exceptforsections143.191to143.265.Aseller,transferor,orassignor
39483945 140 shallperfectsuchtransferbynotifyingthedepartmentinwritingwithinthirty
39493946 141 calendardaysfollowingtheeffectivedateofthetransferandshallprovideany
39503947 142 informationasmayberequiredbythedepartmenttoadministerandcarryout
39513948 143 theprovisionsofthissection.
39523949 144 6.Toclaimtaxcreditsauthorizedunderthissection,anapplicantshall
39533950 145 submittothedepartmentanapplicationforacertificate.Anapplicantshall
39543951 146 identifytheboundariesoftheeligibleprojectareaintheapplication.The
39553952 147 departmentshallverifythattheapplicanthassubmittedavalidapplicationin
39563953 148 theformandformatrequiredbythedepartment.Thedepartmentshallverify
3957-149 thatthemunicipalauthorityheldtherequisitehearingsandgavetherequisite
3954+HCSHB1007 107 149 thatthemunicipalauthorityheldtherequisitehearingsandgavetherequisite
39583955 150 noticesforsuchhearingsinaccordancewiththeapplicableeconomicincentive
39593956 151 act,andmunicipalordinances.Onanannualbasis,anapplicantmayfilefor
39603957 152 thetaxcreditfortheacquisitioncosts,andforthetaxcreditfortheinterest
39613958 153 costs,subjecttothelimitationsofthissection.Ifanapplicantapplyingforthe
39623959 154 taxcreditmeetsthecriteriarequiredunderthissection,thedepartmentshall
39633960 155 issueacertificateintheappropriateamount.Ifanapplicantreceivesatax
39643961 156 creditformaintenancecostsasapartoftheapplicant'sacquisitioncosts,the
39653962 157 departmentshallpostonitsinternetwebsitetheamountandtypeof
39663963 158 maintenancecostsandadescriptionoftheredevelopmentprojectforwhich
39673964 159 theapplicantreceivedataxcreditwithinthirtydaysafterthedepartment
39683965 160 issuesthecertificatetotheapplicant.
39693966 161 7.Thetotalaggregateamountoftaxcreditsauthorizedunderthis
39703967 162 sectionshallnotexceedninety-fivemilliondollars.Atnotimeshallthe
39713968 163 annualamountofthetaxcreditsissuedunderthissectionexceedtwenty
39723969 164 milliondollars.Ifthetaxcreditsthataretobeissuedunderthissection
39733970 165 exceed,inanyyear,thetwentymilliondollarlimitation,thedepartmentshall
39743971 166 either:
39753972 167 (1)Issuetaxcreditstotheapplicantintheamountoftwentymillion
39763973 168 dollars,ifthereisonlyoneapplicantentitledtoreceivetaxcreditsinthatyear;
39773974 169 or
39783975 170 (2)Issuethetaxcreditsonaproratabasistoallapplicantsentitledto
39793976 171 receivetaxcreditsinthatyear.Anyamountoftaxcredits,whichanapplicant
39803977 172 is,orapplicantsare,entitledtoreceiveonanannualbasisandarenotissued
39813978 173 duetothetwentymilliondollarlimitation,shallbecarriedforwardforthe
39823979 174 benefitoftheapplicantorapplicantstosubsequentyears.
39833980 175
39843981 176 NotaxcreditsprovidedunderthissectionshallbeauthorizedafterAugust28,
39853982 177 2013.AnytaxcreditswhichhavebeenauthorizedonorbeforeAugust28,
39863983 178 2013,butnotissued,maybeissued,subjecttothelimitationsprovidedunder
39873984 179 thissubsection,untilallsuchauthorizedtaxcreditshavebeenissued.
3988-HCS#2HB1007 108 180 8.Uponissuanceofanytaxcreditspursuanttothissection,the
3985+180 8.Uponissuanceofanytaxcreditspursuanttothissection,the
39893986 181 departmentshallreporttothemunicipalauthoritytheapplicant'snameand
39903987 182 address,theparcelnumbersoftheeligibleparcelsforwhichthetaxcredits
39913988 183 wereissued,theitemizedacquisitioncostsandinterestcostsforwhichtax
39923989 184 creditswereissued,andthetotalvalueofthetaxcreditsissued.Themunicipal
39933990 185 authorityandthestateshallnotconsidertheamountofthetaxcreditsasan
39943991 186 applicant'scost,butshallincludethetaxcreditsinanysourcesandusesand
39953992 187 costbenefitanalysisreviewedorcreatedforthepurposeofawardingother
39963993 188 economicincentives.Theamountofthetaxcreditsshallnotbeconsideredan
39973994 189 applicant'scostintheevaluationoftheamountofanyawardofanyother
39983995 190 economicincentives,butshallbeconsideredinmeasuringthereasonableness
39993996 191 oftherateofreturntotheapplicantwithrespecttosuchawardofother
40003997 192 economicincentives.Themunicipalauthorityshallprovidethereporttoany
40013998 193 relevantcommission,board,orentityresponsiblefortheevaluationand
40023999 194 recommendationorapprovalofothereconomicincentivestoassistinthe
40034000 195 redevelopmentoftheeligibleprojectarea.Taxcreditsauthorizedunderthis
40044001 196 sectionshallconstituteredevelopmenttaxcredits,assuchtermisdefined
4005-197 undersection135.800,andshallbesubjecttoallprovisionsapplicableto
4002+HCSHB1007 108 197 undersection135.800,andshallbesubjecttoallprovisionsapplicableto
40064003 198 redevelopmenttaxcreditsprovidedundersections135.800to135.830.
40074004 199 9.Thedepartmentmaypromulgaterulestoimplementtheprovisions
40084005 200 ofthissection.Anyruleorportionofarule,asthattermisdefinedinsection
40094006 201 536.010,thatiscreatedundertheauthoritydelegatedinthissectionshall
40104007 202 becomeeffectiveonlyifitcomplieswithandissubjecttoalloftheprovisions
40114008 203 ofchapter536and,ifapplicable,section536.028.Thissectionandchapter
40124009 204 536arenonseverableandifanyofthepowersvestedwiththegeneral
40134010 205 assemblypursuanttochapter536toreview,todelaytheeffectivedate,orto
40144011 206 disapproveandannularulearesubsequentlyheldunconstitutional,thenthe
40154012 207 grantofrulemakingauthorityandanyruleproposedoradoptedafterAugust
40164013 208 28,2007,shallbeinvalidandvoid.]
40174014 [135.313.1.Anyperson,firmorcorporationwhoengagesinthe
40184015 2 businessofproducingcharcoalorcharcoalproductsinthestateofMissouri
40194016 3 shallbeeligibleforataxcreditonincometaxesotherwiseduepursuantto
40204017 4 chapter143,exceptsections143.191to143.261,asanincentivetoimplement
40214018 5 safeandefficientenvironmentalcontrols.Thetaxcreditshallbeequaltofifty
40224019 6 percentofthepurchasepriceofthebestavailablecontroltechnology
40234020 7 equipmentconnectedwiththeproductionofcharcoalinthestateofMissouri
40244021 8 or,ifthetaxpayermanufacturessuchequipment,fiftypercentofthe
40254022 9 manufacturingcostoftheequipment,toandincludingtheyearthe
40264023 10 equipmentisputintoservice.Thecreditmaybeclaimedforaperiodof
40274024 11 eightyearsbeginningwiththe1998calendaryearandistobeataxcredit
40284025 12 againstthetaxotherwisedue.
40294026 13 2.Anyamountofcreditwhichexceedsthetaxdueshallnotbe
40304027 14 refundedbutmaybecarriedovertoanysubsequenttaxableyear,nottoexceed
40314028 15 sevenyears.
40324029 16 3.Thecharcoalproducermayelecttoassigntoathirdpartythe
40334030 17 approvedtaxcredit.Certificationofassignmentandotherappropriateforms
4034-HCS#2HB1007 109 18 mustbefiledwiththeMissouridepartmentofrevenueandthedepartmentof
4031+18 mustbefiledwiththeMissouridepartmentofrevenueandthedepartmentof
40354032 19 economicdevelopment.
40364033 20 4.Whenapplyingforataxcredit,thecharcoalproducerspecifiedin
40374034 21 subsection1ofthissectionshallmakeapplicationforthecredittothedivision
40384035 22 ofenvironmentalqualityofthedepartmentofnaturalresources.The
40394036 23 applicationshallidentifythespecificbestavailablecontroltechnology
40404037 24 equipmentandthepurchaseprice,ormanufacturingcostofsuchequipment.
40414038 25 Thedirectorofthedepartmentofnaturalresourcesisauthorizedtorequire
40424039 26 permitstoconstructpriortotheinstallationofbestavailablecontrol
40434040 27 technologyequipmentandotherinformationwhichheorshedeems
40444041 28 appropriate.
40454042 29 5.Thedirectorofthedepartmentofnaturalresourcesinconjunction
40464043 30 withthedepartmentofeconomicdevelopmentshallcertifytothedepartment
40474044 31 ofrevenuethatthebestavailablecontroltechnologyequipmentmeetsthe
40484045 32 requirementstoobtainataxcreditasspecifiedinthissection.]
40494046 [135.500.1.Sections135.500to135.529shallbeknownandmaybe
40504047 2 citedasthe"MissouriCertifiedCapitalCompanyLaw".
4051-3 2.Asusedinsections135.500to135.529,thefollowingtermsmean:
4048+HCSHB1007 109 3 2.Asusedinsections135.500to135.529,thefollowingtermsmean:
40524049 4 (1)"Affiliateofacertifiedcompany":
40534050 5 (a)Anyperson,directlyorindirectlyowning,controllingorholding
40544051 6 powertovotetenpercentormoreoftheoutstandingvotingsecuritiesorother
40554052 7 ownershipinterestsoftheMissouricertifiedcapitalcompany;
40564053 8 (b)Anypersontenpercentormoreofwhoseoutstandingvoting
40574054 9 securitiesorotherownershipinterestaredirectlyorindirectlyowned,
40584055 10 controlledorheldwithpowertovotebytheMissouricertifiedcapital
40594056 11 company;
40604057 12 (c)Anypersondirectlyorindirectlycontrolling,controlledby,or
40614058 13 undercommoncontrolwiththeMissouricertifiedcapitalcompany;
40624059 14 (d)ApartnershipinwhichtheMissouricertifiedcapitalcompanyisa
40634060 15 generalpartner;
40644061 16 (e)Anypersonwhoisanofficer,directororagentoftheMissouri
40654062 17 certifiedcapitalcompanyoranimmediatefamilymemberofsuchofficer,
40664063 18 directororagent;
40674064 19 (2)"Applicablepercentage",onehundredpercent;
40684065 20 (3)"CapitalinaqualifiedMissouribusiness",anydebt,equityor
40694066 21 hybridsecurity,ofanynatureanddescriptionwhatsoever,includingadebt
40704067 22 instrumentorsecuritywhichhasthecharacteristicsofdebtbutwhichprovides
40714068 23 forconversionintoequityorequityparticipationinstrumentssuchasoptions
40724069 24 orwarrantswhichareacquiredbyaMissouricertifiedcapitalcompanyora
40734070 25 qualifiedinvestingentityasaresultofatransferofcashtoabusiness;
40744071 26 (4)"Certifiedcapital",aninvestmentofcashbyaninvestorina
40754072 27 Missouricertifiedcapitalcompany;
40764073 28 (5)"Certifiedcapitalcompany",anypartnership,corporation,trustor
40774074 29 limitedliabilitycompany,whetherorganizedonaprofitornot-for-profitbasis,
40784075 30 thatislocated,headquarteredandregisteredtoconductbusinessinMissouri
40794076 31 thathasasitsprimarybusinessactivity,theinvestmentofcashinqualified
4080-HCS#2HB1007 110 32 Missouribusinesses,andwhichiscertifiedbythedepartmentasmeetingthe
4077+32 Missouribusinesses,andwhichiscertifiedbythedepartmentasmeetingthe
40814078 33 criteriaofsections135.500to135.529;
40824079 34 (6)"Department",theMissouridepartmentofeconomicdevelopment;
40834080 35 (7)"Director",thedirectorofthedepartmentofeconomic
40844081 36 developmentorapersonactingunderthesupervisionofthedirector;
40854082 37 (8)"Investor",anyinsurancecompanythatcontributescash;
40864083 38 (9)"Liquidatingdistribution",paymentstoinvestorsortothecertified
40874084 39 capitalcompanyfromearnings;
40884085 40 (10)"Person",anynaturalpersonorentity,includingacorporation,
40894086 41 generalorlimitedpartnership,trust,limitedliabilitycompany,orany
40904087 42 charitableorganizationwhichisexemptfromfederalincometaxandwhose
40914088 43 Missouriunrelatedbusinesstaxableincome,ifany,wouldbesubjecttothe
40924089 44 stateincometaximposedunderchapter143;
40934090 45 (11)"Qualifieddistribution",anydistributionorpaymenttoequity
40944091 46 holdersofacertifiedcapitalcompanyinconnectionwiththefollowing:
40954092 47 (a)Reasonablecostsandexpensesofforming,syndicating,managing
40964093 48 andoperatingthecertifiedcapitalcompany;
40974094 49 (b)Managementfeesformanagingandoperatingthecertifiedcapital
40984095 50 company;and
4099-51 (c)Anyincreaseinfederalorstatetaxes,penaltiesandinterest,
4096+HCSHB1007 110 51 (c)Anyincreaseinfederalorstatetaxes,penaltiesandinterest,
41004097 52 includingthoserelatedtostateandfederalincometaxes,ofequityownersofa
41014098 53 certifiedcapitalcompanywhichrelatedtotheownership,managementor
41024099 54 operationofacertifiedcapitalcompany;
41034100 55 (12)"Qualifiedinvestingentity",anypartnership,corporation,trust,or
41044101 56 limitedliabilitycompany,whetherorganizedonafor-profitornot-for-profit
41054102 57 basis,that:
41064103 58 (a)Isregisteredtodobusinessinthisstate;
41074104 59 (b)Isawhollyownedsubsidiaryofacertifiedcapitalcompanyor
41084105 60 otherwiseaffiliatedwithandundercommoncontrolwithacertifiedcapital
41094106 61 company;and
41104107 62 (c)Hasbeendesignatedasaqualifiedinvestingentitybysuch
41114108 63 certifiedcapitalcompany.Suchdesignationshallbeeffectiveupondelivery
41124109 64 bythecertifiedcapitalcompanyofwrittennoticeofthedesignationtothe
41134110 65 department.Aqualifiedinvestingentitymayraisedebtorequitycapitalfor
41144111 66 investment,butsuchcapitalshallnotbeconsideredcertifiedcapital.Any
41154112 67 qualifiedinvestmentmadebyaqualifiedinvestingentityaftertheeffective
41164113 68 dateofthisactshallbedeemedtohavebeenmadebyacertifiedcapital
41174114 69 companythatdesignatedthequalifiedinvestingentityassuch;providedthat
41184115 70 noqualifiedinvestmentmaybedeemedtohavebeenmadebymorethanone
41194116 71 certifiedcapitalcompany;
41204117 72 (13)"Qualifiedinvestment",theinvestmentofcashbyaMissouri
41214118 73 certifiedcapitalcompanyoraqualifiedinvestingentityinsuchamannerasto
41224119 74 acquirecapitalinaqualifiedMissouribusiness;
41234120 75 (14)"QualifiedMissouribusiness",anindependentlyownedand
41244121 76 operatedbusiness,whichisheadquarteredandlocatedinMissouriandwhich
41254122 77 isinneedofventurecapitalandcannotobtainconventionalfinancing.Such
41264123 78 businessshallhavenomorethantwohundredemployees,eightypercentof
41274124 79 whichareemployedinMissouri.Suchbusinessshallbeinvolvedin
4128-HCS#2HB1007 111 80 commerceforthepurposeofmanufacturing,processingorassembling
4125+80 commerceforthepurposeofmanufacturing,processingorassembling
41294126 81 products,conductingresearchanddevelopment,orprovidingservicesin
41304127 82 interstatecommerce,butexcludingretail,realestate,realestatedevelopment,
41314128 83 insuranceandprofessionalservicesprovidedbyaccountants,lawyersor
41324129 84 physicians.Atthetimeacertifiedcapitalcompanyorqualifiedinvesting
41334130 85 entitymakesaninitialinvestmentinabusiness,suchbusinessshallbeasmall
41344131 86 businessconcernthatmeetstherequirementsoftheUnitedStatesSmall
41354132 87 BusinessAdministration'squalificationsizestandardsforitsventurecapital
41364133 88 program,asdefinedinSection13CFR121.301(c)oftheSmallBusiness
41374134 89 InvestmentActof1958,asamended.Anybusinesswhichisclassifiedasa
41384135 90 qualifiedMissouribusinessatthetimeofthefirstinvestmentinsuchbusiness
41394136 91 byaMissouricertifiedcapitalcompanyorqualifiedinvestingentityshall,for
41404137 92 aperiodofsevenyearsfromthedateofsuchfirstinvestment,remain
41414138 93 classifiedasaqualifiedMissouribusinessandmayreceivefollow-on
41424139 94 investmentsfromanyMissouricertifiedcapitalcompanyorqualified
41434140 95 investingentityandsuchfollow-oninvestmentsshallbequalified
41444141 96 investmentseventhoughsuchbusinessmaynotmeettheother
41454142 97 qualificationsofthissubsectionatthetimeofsuchfollow-oninvestments;
4146-98 (15)"Statepremiumtaxliability",anyliabilityincurredbyan
4143+HCSHB1007 111 98 (15)"Statepremiumtaxliability",anyliabilityincurredbyan
41474144 99 insurancecompanypursuanttotheprovisionsofsection148.320,148.340,
41484145 100 148.370or148.376,andanyotherrelatedprovisions,whichmayimposeatax
41494146 101 uponthepremiumincomeofinsurancecompaniesafterJanuary1,1997.]
41504147 [135.503.1.Anyinvestorthatmakesaninvestmentofcertified
41514148 2 capitalshall,intheyearofinvestment,earnavestedcreditagainststate
41524149 3 premiumtaxliabilityequaltotheapplicablepercentageoftheinvestor's
41534150 4 investmentofcertifiedcapital.Aninvestorshallbeentitledtotakeuptoten
41544151 5 percentofthevestedcreditinanytaxableyearoftheinvestor.Anytimeafter
41554152 6 threeyearsafterAugust28,1996,thedirector,withtheapprovalofthe
41564153 7 commissionerofadministration,mayreducetheapplicablepercentageona
41574154 8 prospectivebasis.Anysuchreductionintheapplicablepercentagebythe
41584155 9 directorshallnothaveanyeffectoncreditsagainststatepremiumtaxliability
41594156 10 whichhavebeenclaimedorwillbeclaimedbyanyinvestorwithrespectto
41604157 11 creditswhichhavebeenearnedandvestedpursuanttoaninvestmentof
41614158 12 certifiedcapitalpriortotheeffectivedateofanysuchchange.
41624159 13 2.Aninsurancecompanyclaimingastatepremiumtaxcreditearned
41634160 14 throughaninvestmentinacertifiedcapitalcompanyshallnotberequiredto
41644161 15 payanyadditionalretaliatorytaxleviedpursuanttosection375.916asaresult
41654162 16 ofclaimingsuchcredit.
41664163 17 3.Thecreditagainststatepremiumtaxliabilitywhichisdescribedin
41674164 18 subsection1ofthissectionmaynotexceedthestatepremiumtaxliabilityof
41684165 19 theinvestorforanytaxableyear.Allsuchcreditsagainststatepremiumtax
41694166 20 liabilitymaybecarriedforwardindefinitelyuntilthecreditsareutilized.The
41704167 21 maximumamountofcertifiedcapitalinoneormorecertifiedcapital
41714168 22 companiesforwhichearnedandvestedtaxcreditswillbeallowedinanyyear
41724169 23 toanyoneinvestororitsaffiliatesshallbelimitedtotenmilliondollars.
41734170 24 4.Exceptasprovidedinsubsection5ofthissection,theaggregate
41744171 25 amountofcertifiedcapitalforwhichearnedandvestedcreditsagainststate
4175-HCS#2HB1007 112 26 premiumtaxliabilityareallowedforallpersonspursuanttosections135.500
4172+26 premiumtaxliabilityareallowedforallpersonspursuanttosections135.500
41764173 27 to135.529shallnotexceedthefollowingamounts:forcalendaryear1996,
41774174 28 $0.00;forcalendaryear1997,anamountwhichwouldentitleallMissouri
41784175 29 certifiedcapitalcompanyinvestorstotakeaggregatecreditsoffivemillion
41794176 30 dollars;andforanyyearthereafter,anadditionalamounttobedeterminedby
41804177 31 thedirectorbutnottoexceedaggregatecreditsoftenmilliondollarsforany
41814178 32 yearwiththeapprovalofthecommissionerofadministrationandreportedto
41824179 33 thegeneralassemblyasprovidedinsubsection2ofsection33.282,provided
41834180 34 thattheamountsodeterminedshallnotimpairtheabilityofaninvestorwith
41844181 35 earnedandvestedcreditswhichhavebeenallowedinpreviousyearstotake
41854182 36 them,pursuanttosubsection1ofthissection.Duringanycalendaryearin
41864183 37 whichthelimitationdescribedinthissubsectionwilllimittheamountof
41874184 38 certifiedcapitalforwhichearnedandvestedcreditsagainststatepremiumtax
41884185 39 liabilityareallowed,certifiedcapitalforwhichcreditsareallowedwillbe
41894186 40 allocatedinorderofprioritybaseduponthedateoffilingofinformation
41904187 41 describedinsubdivision(1)ofsubsection5ofsection135.516.Certified
41914188 42 capitallimitedinanycalendaryearbytheapplicationoftheprovisionsofthis
41924189 43 subsectionshallbeallowedandallocatedintheimmediatelysucceeding
4193-44 calendaryearintheorderofprioritysetforthinthissubsection.The
4190+HCSHB1007 112 44 calendaryearintheorderofprioritysetforthinthissubsection.The
41944191 45 departmentshallmakeseparateallocationsofcertifiedcapitalforwhich
41954192 46 creditsareallowedunderthelimitationsdescribedinthissubsectionandunder
41964193 47 thelimitationsdescribedinsubsection5ofthissection.
41974194 48 5.Inadditiontothemaximumamountpursuanttosubsection4ofthis
41984195 49 section,theaggregateamountofcertifiedcapitalforwhichearnedandvested
41994196 50 creditsagainststatepremiumtaxliabilityareallowedforpersonspursuantto
42004197 51 sections135.500to135.529shallbethefollowing:forcalendaryear1999and
42014198 52 foranyyearthereafter,anamounttobedeterminedbythedirectorwhich
42024199 53 wouldentitleallMissouricertifiedcapitalcompanyinvestorstotakeaggregate
42034200 54 creditsnottoexceedfourmilliondollarsforanyyearwiththeapprovalofthe
42044201 55 commissionerofadministrationandreportedtothegeneralassemblyas
42054202 56 providedinsubsection2ofsection33.282,providedthattheamountso
42064203 57 determinedshallnotimpairtheabilityofaninvestorwithearnedandvested
42074204 58 creditswhichhavebeenallowedinpreviousyearsorpursuanttothe
42084205 59 provisionsofsubsection4ofthissectiontotakethem,pursuanttosubsection
42094206 60 1ofthissection.Forpurposesofanyrequirementregardingthescheduleof
42104207 61 qualifiedinvestmentsforcertifiedcapitalforwhichearnedandvestedcredits
42114208 62 againststatepremiumtaxliabilityareallowedpursuanttothissubsectiononly,
42124209 63 thedefinitionofa"qualifiedMissouribusiness"assetforthinsubdivision(14)
42134210 64 ofsubsection2ofsection135.500meansaMissouribusinessthatislocatedin
42144211 65 adistressedcommunityasdefinedinsection135.530,andmeetsallofthe
42154212 66 requirementsofsubdivision(14)ofsubsection2ofsection135.500.During
42164213 67 anycalendaryearinwhichthelimitationdescribedinthissubsectionlimitsthe
42174214 68 amountofadditionalcertifiedcapitalforwhichearnedandvestedcredits
42184215 69 againststatepremiumtaxliabilityareallowed,additionalcertifiedcapitalfor
42194216 70 whichcreditsareallowedshallbeallocatedinorderofprioritybaseduponthe
42204217 71 dateoffilingofinformationdescribedinsubdivision(1)ofsubsection5of
42214218 72 section135.516withrespecttosuchadditionalcertifiedcapital.The
42224219 73 departmentshallmakeseparateallocationsofcertifiedcapitalforwhich
4223-HCS#2HB1007 113 74 creditsareallowedunderthelimitationsdescribedinthissubsectionandunder
4220+74 creditsareallowedunderthelimitationsdescribedinthissubsectionandunder
42244221 75 thelimitationsdescribedinsubsection4ofthissection.Nolimitation
42254222 76 applicabletoanycertifiedcapitalcompanywithrespecttocertifiedcapitalfor
42264223 77 whichcreditsareallowedpursuanttosubsection4ofthissectionshalllimit
42274224 78 theamountofcertifiedcapitalforwhichcreditsareallowedpursuanttothis
42284225 79 subsection.Nolimitationapplicabletoanycertifiedcapitalcompanywith
42294226 80 respecttocertifiedcapitalforwhichcreditsareallowedpursuanttothis
42304227 81 subsectionshalllimittheamountofcertifiedcapitalforwhichcreditsare
42314228 82 allowedpursuanttosubsection4ofthissection.
42324229 83 6.ThedepartmentshalladviseanyMissouricertifiedcapitalcompany,
42334230 84 inwriting,withinfifteendaysafterreceivingthefilingdescribedin
42344231 85 subdivision(1)ofsubsection5ofsection135.516whetherthelimitationsof
42354232 86 subsection3ofthissectionthenineffectwillbeapplicablewithrespecttothe
42364233 87 investmentsandcreditsdescribedinsuchfilingwiththedepartment.]
42374234 [135.505.AMissouricertifiedcapitalcompanyshallhaveafunding
42384235 2 periodofoneyearfromthedateofreceivingcertificationfromthedirector.
4239-3 AllinvestmentsintheMissouricertifiedcapitalcompanyshallbemadewithin
4236+HCSHB1007 113 3 AllinvestmentsintheMissouricertifiedcapitalcompanyshallbemadewithin
42404237 4 suchthreehundredsixty-five-dayfundingperiod.]
42414238 [135.508.Thedepartmentmaycertifyprofitornot-for-profitentities
42424239 2 whichsubmitanapplicationtobedesignatedasaMissouricertifiedcapital
42434240 3 company.Thedepartmentshallreviewtheorganizationaldocumentsforeach
42444241 4 applicantforcertificationandthebusinesshistoryoftheapplicant,determine
42454242 5 thattheMissouricertifiedcapitalcompany'scash,marketablesecuritiesand
42464243 6 otherliquidassetsareatleastfivehundredthousanddollars,determinethatthe
42474244 7 liquidassetbaseforcertifiedcompaniesisatleastfivehundredthousand
42484245 8 dollarsatalltimesduringthecompany'sparticipationintheprogram
42494246 9 authorizedbysections135.500to135.529,anddeterminethattheofficersand
42504247 10 theboardofdirectors,partners,trusteesormanagersarethoroughly
42514248 11 acquaintedwiththerequirementsofsections135.500to135.529.No
42524249 12 insurancecompanywhichreceivestaxcreditspermittedundersections
42534250 13 135.500to135.529foraninvestmentinaMissouricertifiedcapitalcompany
42544251 14 shall,individuallyorwithorthroughoneormoreaffiliates,beamanaging
42554252 15 generalpartneroforcontrolthedirectionofinvestmentsofthatMissouri
42564253 16 certifiedcapitalcompany.Withinseventy-fivedaysofapplication,the
42574254 17 departmentshalleitherissuethecertificationandnotifythedepartmentof
42584255 18 revenueandthedirectorofthedepartmentofcommerceandinsuranceofsuch
42594256 19 certificationorshallrefusethecertificationandcommunicateindetailtothe
42604257 20 applicantthegroundsfortherefusal,includingthesuggestionsfortheremoval
42614258 21 ofthosegrounds.Thedepartmentshallberesponsiblefortheadministration
42624259 22 ofthetaxcreditsauthorizedbysections135.500to135.529.Noruleor
42634260 23 portionofarulepromulgatedundertheauthorityofsections135.500to
42644261 24 135.529shallbecomeeffectiveunlessithasbeenpromulgatedpursuanttothe
42654262 25 provisionsofchapter536.AllrulemakingauthoritydelegatedpriortoJune
42664263 26 27,1997,isofnoforceandeffectandrepealed;however,nothinginthis
42674264 27 sectionshallbeinterpretedtorepealoraffectthevalidityofanyrulefiledor
42684265 28 adoptedpriortoJune27,1997,ifsuchrulecompliedwiththeprovisionsof
4269-HCS#2HB1007 114 29 chapter536.Theprovisionsofthissectionandchapter536arenonseverable
4266+29 chapter536.Theprovisionsofthissectionandchapter536arenonseverable
42704267 30 andifanyofthepowersvestedwiththegeneralassemblypursuanttochapter
42714268 31 536,includingtheabilitytoreview,todelaytheeffectivedate,orto
42724269 32 disapproveandannularuleorportionofarule,aresubsequentlyheld
42734270 33 unconstitutional,thenthepurportedgrantofrulemakingauthorityandanyrule
42744271 34 soproposedandcontainedintheorderofrulemakingshallbeinvalidand
42754272 35 void.]
42764273 [135.516.1.Tocontinuetobecertified,aMissouricertifiedcapital
42774274 2 companyshallmakequalifiedinvestmentsaccordingtothefollowing
42784275 3 schedule:
42794276 4 (1)WithintwoyearsafterthedateonwhichaMissouricertified
42804277 5 capitalcompanyisdesignatedasaMissouricertifiedcapitalcompanyatleast
42814278 6 twenty-fivepercentofitscertifiedcapitalshallbe,orhavebeen,placedin
42824279 7 qualifiedinvestments;
42834280 8 (2)WithinthreeyearsafterthedateonwhichaMissouricertified
42844281 9 capitalcompanyisdesignatedasaMissouricertifiedcapitalcompanyatleast
4285-10 fortypercentofitscertifiedcapitalshallbe,orhavebeen,placedinqualified
4282+HCSHB1007 114 10 fortypercentofitscertifiedcapitalshallbe,orhavebeen,placedinqualified
42864283 11 investments;
42874284 12 (3)WithinfouryearsafterthedateonwhichaMissouricertified
42884285 13 capitalcompanyisdesignatedasaMissouricertifiedcapitalcompany,atleast
42894286 14 fiftypercentofitstotalcertifiedcapitalshallbe,orhavebeen,placedin
42904287 15 qualifiedinvestments.AMissouricertifiedcapitalcompanymaynotmakean
42914288 16 investmentinanaffiliateofthecertifiedcapitalcompany.Forthepurposesof
42924289 17 thissubsection,ifalegalentityisnotanaffiliatebeforeacertifiedcapital
42934290 18 companyinitiallyinvestsintheentity,itwillnotbeanaffiliateifacertified
42944291 19 capitalcompanyprovidesadditionalinvestmentinsuchentitysubsequentto
42954292 20 itsinitialinvestment;
42964293 21 (4)Acertifiedcapitalcompany,atleastfifteenworkingdayspriorto
42974294 22 makingwhatitdeterminestobeaninitialqualifiedinvestmentinaspecific
42984295 23 qualifiedMissouribusiness,shallcertifytothedepartmentthatthecompanyin
42994296 24 whichitoraqualifiedinvestingentityproposestoinvestisaqualified
43004297 25 Missouribusiness.Thecertifiedcapitalcompanyshallstatetheamountof
43014298 26 capitalitoraqualifiedinvestingentityintendstoinvestandthenameofthe
43024299 27 businessinwhichitoraqualifiedinvestingentityintendstoinvest.The
43034300 28 certifiedcapitalcompanyshallalsoprovidetothedepartmentanexplanation
43044301 29 ofitsdeterminationthatthebusinessmeetsthedefinitionofaqualified
43054302 30 Missouribusiness.Ifthedepartmentdeterminesthatthebusinessdoesnot
43064303 31 meetthedefinitionofaqualifiedMissouribusiness,itshall,withinthefifteen-
43074304 32 working-dayperiodpriortothemakingoftheproposedinvestment,notifythe
43084305 33 certifiedcapitalcompanyofitsdeterminationandanexplanationthereof.If
43094306 34 thedepartmentfailstonotifythecertifiedcapitalcompanywithrespecttothe
43104307 35 proposedinvestmentwithinthefifteen-working-dayperiodpriortothemaking
43114308 36 oftheproposedinvestment,thecompanyinwhichthecertifiedcapital
43124309 37 companyoraqualifiedinvestingentityproposestoinvestshallbedeemedto
43134310 38 beaqualifiedMissouribusiness.Ifacertifiedcapitalcompanyfailstonotify
43144311 39 thedepartmentpriortomakinganinitialinvestmentinabusiness,the
43154312 40 departmentmaysubsequentlydeterminethatthebusinessinwhichthe
4316-HCS#2HB1007 115 41 certifiedcapitalcompanyoraqualifiedinvestingentityinvestedwasnota
4313+41 certifiedcapitalcompanyoraqualifiedinvestingentityinvestedwasnota
43174314 42 qualifiedMissouribusinesseventhoughthebusiness,atthetimeofthe
43184315 43 investment,mettherequirementsofsubdivision(15)ofsubsection2ofsection
43194316 44 135.500;
43204317 45 (5)Allcertifiedcapitalwhichisnotrequiredtobeplacedinqualified
43214318 46 investmentsorwhichhasbeenplacedinqualifiedinvestmentsandcanbe
43224319 47 receivedbythecompany,maybeheldorinvestedinsuchmannerasthe
43234320 48 Missouricertifiedcapitalcompany,initsdiscretion,deemsappropriate.The
43244321 49 proceedsofallcertifiedcapitalwhichisreceivedbyacertifiedcapital
43254322 50 companyafteritwasoriginallyplacedinqualifiedinvestmentsmaybeplaced
43264323 51 againinqualifiedinvestmentsandshallcounttowardanyrequirementin
43274324 52 sections135.500to135.529withrespecttoplacingcertifiedcapitalin
43284325 53 qualifiedinvestments.
43294326 54 2.Acertifiedcapitalcompanymaymakequalifieddistributionsatany
43304327 55 time.Inordertomakedistributions,otherthanqualifieddistributions,a
43314328 56 certifiedcapitalcompanymusthavemadecumulativequalifiedinvestments,
43324329 57 includingthosemadethroughaqualifiedinvestingentity,inanamount
4333-58 cumulativelyequaltoatleastonehundredpercentofitscertifiedcapital.
4330+HCSHB1007 115 58 cumulativelyequaltoatleastonehundredpercentofitscertifiedcapital.
43344331 59 Cumulativedistributionstoequityholders,otherthanqualifieddistributions,
43354332 60 inexcessofthecertifiedcapitalcompany'soriginalcertifiedcapitalandany
43364333 61 additionalcapitalcontributionstothecertifiedcapitalcompanyshallbe
43374334 62 subjecttoauditbyanationallyrecognizedcertifiedpublicaccountingfirm
43384335 63 acceptabletothedepartment,attheexpenseofthecertifiedcapitalcompany.
43394336 64 Theauditshalldeterminewhetheraggregatecumulativedistributionstoall
43404337 65 investorsandequityholders,otherthanqualifieddistributions,when
43414338 66 combinedwithalltaxcreditsutilizedbyinvestorspursuanttosections
43424339 67 135.500to135.529,haveresultedinanannualinternalrateofreturnoffifteen
43434340 68 percentcomputedonthesumoftotaloriginalcertifiedcapitalofthecertified
43444341 69 capitalcompanyandanyadditionalcapitalcontributionstothecertifiedcapital
43454342 70 company.Twenty-fivepercentofdistributionsmade,otherthanqualified
43464343 71 distributions,inexcessoftheamountrequiredtoproduceafifteenpercent
43474344 72 annualinternalrateofreturn,asdeterminedbytheaudit,shallbepayableby
43484345 73 thecertifiedcapitalcompanytotheMissouridevelopmentfinanceboard.
43494346 74 Distributionsorpaymentstodebtholdersofacertifiedcapitalcompany,
43504347 75 however,maybemadewithoutrestrictionwithrespecttodebtowedtothem
43514348 76 byacertifiedcapitalcompany.Adebtholderthatisalsoaninvestororequity
43524349 77 holderofacertifiedcapitalcompanymayreceivedistributionsorpayments
43534350 78 withrespecttosuchdebtwithoutrestriction.
43544351 79 3.NoqualifiedinvestmentmaybemadeatacosttoaMissouri
43554352 80 certifiedcapitalcompanygreaterthanfifteenpercentofthetotalcertified
43564353 81 capitalundermanagementoftheMissouricertifiedcapitalcompanyatthe
43574354 82 timeofinvestment.
43584355 83 4.DocumentsandothermaterialssubmittedbyMissouricertified
43594356 84 capitalcompaniesorbybusinessesforpurposesofthecontinuanceof
43604357 85 certificationmaybedeemed"closedrecords"pursuanttotheprovisionsof
43614358 86 section620.014.
43624359 87 5.EachMissouricertifiedcapitalcompanyshallreportthefollowing
43634360 88 tothedepartment:
4364-HCS#2HB1007 116 89 (1)Assoonaspracticableafterthereceiptofcertifiedcapital,the
4361+89 (1)Assoonaspracticableafterthereceiptofcertifiedcapital,the
43654362 90 nameofeachinvestorfromwhichthecertifiedcapitalwasreceived,the
43664363 91 amountofeachinvestor'sinvestmentofcertifiedcapitalandtaxcredits
43674364 92 computedwithoutregardtoanylimitationsundersubsection3ofsection
43684365 93 135.503,andthedateonwhichthecertifiedcapitalwasreceived;
43694366 94 (2)Onaquarterlybasis,theamountoftheMissouricertifiedcapital
43704367 95 company'scertifiedcapitalattheendofthequarter,whetherornotthe
43714368 96 Missouricertifiedcapitalcompanyhasinvested,togetherwithany
43724369 97 investmentsmadebyaqualifiedinvestingentitythataredeemedtohave
43734370 98 beenmadebythecertifiedcapitalcompany,morethanfifteenpercentofthe
43744371 99 totalcertifiedcapitalundermanagementinanyonecompany,andallqualified
43754372 100 investmentsthattheMissouricertifiedcapitalcompanyhasmadeorhasbeen
43764373 101 deemedtohavebeenmadethroughaqualifiedinvestingentity;
43774374 102 (3)EachMissouricertifiedcapitalcompanyshallprovideannual
43784375 103 auditedfinancialstatementstothedepartmentwhichincludeanopinionofan
43794376 104 independentcertifiedpublicaccountanttothedepartmentwithinninetydays
43804377 105 ofthecloseofthefiscalyear.Atthesametime,thecertifiedcapitalcompany
4381-106 shallalsoprovideauditedfinancialstatementsforanyqualifiedinvesting
4378+HCSHB1007 116 106 shallalsoprovideauditedfinancialstatementsforanyqualifiedinvesting
43824379 107 entitythathasmadequalifiedinvestmentsonitsbehalf,unlessthefinancial
43834380 108 resultsofsuchqualifiedinvestingentityareincludedintheconsolidated
43844381 109 financialstatementsofthecertifiedcapitalcompany.Theauditshalladdress
43854382 110 themethodsofoperationandconductofthebusinessoftheMissouricertified
43864383 111 capitalcompanytodetermineiftheMissouricertifiedcapitalcompanyis
43874384 112 complyingwiththestatutesandprogramrulesandthatthefundsreceivedby
43884385 113 theMissouricertifiedcapitalcompanyhavebeeninvestedasrequiredwithin
43894386 114 thetimelimitsprovidedbysections135.500to135.529.]
43904387 [135.517.Inorderforinvestmentsofaqualifyinginvestingentityto
43914388 2 becountedasqualifiedinvestmentspursuanttosections135.500to135.529,
43924389 3 eachsuchinvestmentofaqualifyinginvestingentitymusthavereceivedprior
43934390 4 approvalfromthedepartment.]
43944391 [135.520.1.Thedivisionoffinanceshallconductanannualreviewof
43954392 2 eachMissouricertifiedcapitalcompanyandanyqualifiedinvestingentities
43964393 3 designatedbyittodetermineiftheMissouricertifiedcapitalcompanyis
43974394 4 abidingbytherequirementsofcertifications,toadvisetheMissouricertified
43984395 5 capitalcompanyastothecertificationstatusofitsqualifiedinvestmentsandto
43994396 6 ensurethatnoinvestmenthasbeenmadeinviolationofsections135.500to
44004397 7 135.529.ThecostoftheannualreviewshallbepaidbyeachMissouri
44014398 8 certifiedcapitalcompanyaccordingtoareasonablefeescheduleadoptedby
44024399 9 thedepartment.Thedivisionoffinanceshallreportitsfindingstothe
44034400 10 departmentassoonaspracticablefollowingcompletionoftheaudit.
44044401 11 2.Anymaterialviolationofsections135.500to135.529shallbe
44054402 12 groundsfordecertificationunderthissection.Ifthedepartmentdetermines
44064403 13 thatacompanyisnotincompliancewithanyrequirementsforcontinuingin
44074404 14 certification,itshall,bywrittennotice,informtheofficersofthecompanyand
44084405 15 theboardofdirectors,managers,trusteesorgeneralpartnersthattheymaybe
44094406 16 decertifiedinonehundredtwentydaysfromthedateofmailingofthenotice,
4410-HCS#2HB1007 117 17 unlesstheycorrectthedeficienciesandareagainincompliancewiththe
4407+17 unlesstheycorrectthedeficienciesandareagainincompliancewiththe
44114408 18 requirementsforcertification.
44124409 19 3.Attheendoftheonehundredtwenty-daygraceperiod,ifthe
44134410 20 Missouricertifiedcapitalcompanyisstillnotincompliance,thedepartment
44144411 21 maysendanoticeofdecertificationtothecompanyandtothedirectorsofthe
44154412 22 departmentofrevenueanddepartmentofcommerceandinsurance.
44164413 23 DecertificationofaMissouricertifiedcapitalcompanypriortothecertified
44174414 24 capitalcompanymeetingallrequirementsofsubdivisions(1)to(3)of
44184415 25 subsection1ofsection135.516shallcausetherecaptureofallpremiumtax
44194416 26 creditspreviouslyclaimedbyaninvestorandtheforfeitureofallfuturecredits
44204417 27 tobeclaimedbyaninvestorwithrespecttoitsinvestmentinthecertified
44214418 28 capitalcompany.DecertificationofaMissouricertifiedcapitalcompanyafter
44224419 29 ithasmetallrequirementsofsubdivisions(1)to(3)ofsubsection1ofsection
44234420 30 135.516shallcausetheforfeitureofpremiumtaxcreditsforthetaxableyear
44244421 31 oftheinvestorinwhichthedecertificationaroseandforfuturetaxableyears
44254422 32 withnorecaptureoftaxcreditsobtainedbyaninvestorwithrespecttothe
44264423 33 investor'staxyearswhichendedbeforethedecertificationoccurred.Oncea
4427-34 certifiedcapitalcompanyhasmadecumulativequalifiedinvestments,
4424+HCSHB1007 117 34 certifiedcapitalcompanyhasmadecumulativequalifiedinvestments,
44284425 35 includingthosemadethroughaqualifiedinvestingentityanddeemedto
44294426 36 havebeenmadebythecertifiedcapitalcompany,inanamountequaltoatleast
44304427 37 onehundredpercentofitscertifiedcapital,allfuturepremiumtaxcreditstobe
44314428 38 claimedbyinvestorswithrespecttosaidcertifiedcapitalcompanypursuantto
44324429 39 sections135.500to135.529shallbenonforfeitable.Onceacertifiedcapital
44334430 40 companyhasmadecumulativequalifiedinvestments,includingthosemade
44344431 41 throughaqualifiedinvestingentityanddeemedtohavebeenmadebythe
44354432 42 certifiedcapitalcompany,inanamountequaltoatleastonehundredpercent
44364433 43 ofitscertifiedcapitalandhasmetallotherrequirementsundersections
44374434 44 135.500to135.529,itshallnolongerbesubjecttoregulationbythe
44384435 45 departmentexceptwithrespecttothepaymentofdistributionstotheMissouri
44394436 46 developmentfinanceboard.]
44404437 [135.523.ThedepartmentmayrevokethecertificationofaMissouri
44414438 2 certifiedcapitalcompanyifanymaterialrepresentationtothedepartmentin
44424439 3 connectionwiththeapplicationprocessprovestohavebeenfalselymadeorif
44434440 4 theapplicationmateriallyviolatesanyrequirementestablishedbythe
44444441 5 departmentpursuanttosections135.500to135.529.]
44454442 [135.526.Allinvestmentsforwhichtaxcreditsareclaimedunderthe
44464443 2 provisionsofsections135.500to135.529shallsatisfytheconditionsofbeing
44474444 3 registeredorspecificallyexemptfromregistrationbyprovisionsorregulations
44484445 4 underchapter409.]
44494446 [135.529.1.Thetaxcreditestablishedpursuanttosections135.500to
44504447 2 135.529maybesoldortransferredinaccordancewithregulationsadoptedby
44514448 3 thedepartment.Anysuchsaleortransfershallnotaffectthetimeschedulefor
44524449 4 takingthetaxcredit,asprovidedinsections135.500to135.529.Any
44534450 5 premiumtaxcreditsrecapturedpursuanttosection135.520shallbethe
44544451 6 liabilityofthetaxpayerwhichactuallyclaimedthecredit.Inapprovingthe
4455-HCS#2HB1007 118 7 saleortransferofthecreditpursuanttothissection,thedepartmentmay
4452+7 saleortransferofthecreditpursuanttothissection,thedepartmentmay
44564453 8 requirethetransferororthetransfereeorboththetransferorandthetransferee
44574454 9 toexecuteguaranteesorpostbondswithrespecttoanypotentialcredit
44584455 10 recapture.
44594456 11 2.Noruleorportionofarulepromulgatedundertheauthorityof
44604457 12 sections135.500to135.529shallbecomeeffectiveunlessithasbeen
44614458 13 promulgatedpursuanttotheprovisionsofchapter536.Thedepartmentshall
44624459 14 makeandpromulgateemergencyrulesandregulationsconsistentwiththe
44634460 15 provisionsofsections135.500to135.529asarenecessaryorusefultocarry
44644461 16 outtheprovisionsofsections135.500to135.529,pursuanttosection536.025.
44654462 17 3.Everyfinalorder,decision,licenseorotherofficialactofthe
44664463 18 directorpursuanttosections135.500to135.529issubjecttoadministrative
44674464 19 reviewinaccordancewithchapter621.]
44684465 [135.535.1.Acorporation,limitedliabilitycorporation,partnership
44694466 2 orsoleproprietorship,whichmovesitsoperationsfromoutsideMissourior
44704467 3 outsideadistressedcommunityintoadistressedcommunity,orwhich
4471-4 commencesoperationsinadistressedcommunityonorafterJanuary1,1999,
4468+HCSHB1007 118 4 commencesoperationsinadistressedcommunityonorafterJanuary1,1999,
44724469 5 andineithercasehasmorethanseventy-fivepercentofitsemployeesatthe
44734470 6 facilityinthedistressedcommunity,andwhichhasfewerthanonehundred
44744471 7 employeesforwhompayrolltaxesarepaid,andwhichisamanufacturing,
44754472 8 biomedical,medicaldevices,scientificresearch,animalresearch,computer
44764473 9 softwaredesignordevelopment,computerprogramming,includinginternet,
44774474 10 webhosting,andotherinformationtechnology,wirelessorwiredorother
44784475 11 telecommunicationsoraprofessionalfirmshallreceiveafortypercentcredit
44794476 12 againstincometaxesowedpursuanttochapter143,147or148,otherthan
44804477 13 taxeswithheldpursuanttosections143.191to143.265,foreachofthethree
44814478 14 yearsaftersuchmove,ifapprovedbythedepartmentofeconomic
44824479 15 development,whichshallissueacertificateofeligibilityifthedepartment
44834480 16 determinesthatthetaxpayeriseligibleforsuchcredit.Themaximumamount
44844481 17 ofcreditspertaxpayersetforthinthissubsectionshallnotexceedonehundred
44854482 18 twenty-fivethousanddollarsforeachofthethreeyearsforwhichthecreditis
44864483 19 claimed.Thedepartmentofeconomicdevelopment,bymeansofruleor
44874484 20 regulationpromulgatedpursuanttotheprovisionsofchapter536,shallassign
44884485 21 appropriateNorthAmericanIndustryClassificationSystemnumberstothe
44894486 22 companieswhichareeligibleforthetaxcreditsprovidedforinthissection.
44904487 23 Suchthree-yearcreditsshallbeawardedonlyonetimetoanycompanywhich
44914488 24 movesitsoperationsfromoutsideofMissourioroutsideofadistressed
44924489 25 communityintoadistressedcommunityortoacompanywhichcommences
44934490 26 operationswithinadistressedcommunity.Ataxpayershallfileanapplication
44944491 27 forcertificationofthetaxcreditsforthefirstyearinwhichcreditsareclaimed
44954492 28 andforeachofthetwosucceedingtaxableyearsforwhichcreditsareclaimed.
44964493 29 2.Employeesofsuchfacilitiesphysicallyworkingandearningwages
44974494 30 forthatworkwithinadistressedcommunitywhoseemployershavebeen
44984495 31 approvedfortaxcreditspursuanttosubsection1ofthissectionbythe
44994496 32 departmentofeconomicdevelopmentforwhompayrolltaxesarepaidshall
45004497 33 alsobeeligibletoreceiveataxcreditagainstindividualincometax,imposed
45014498 34 pursuanttochapter143,equaltooneandone-halfpercentoftheirgrosssalary
4502-HCS#2HB1007 119 35 paidatsuchfacilityearnedforeachofthethreeyearsthatthefacilityreceives
4499+35 paidatsuchfacilityearnedforeachofthethreeyearsthatthefacilityreceives
45034500 36 thetaxcreditprovidedbythissection,solongastheywerequalified
45044501 37 employeesofsuchentity.Theemployershallcalculatetheamountofsuch
45054502 38 creditandshallreporttheamounttotheemployeeandthedepartmentof
45064503 39 revenue.
45074504 40 3.Ataxcreditagainstincometaxesowedpursuanttochapter143,147
45084505 41 or148,otherthanthetaxeswithheldpursuanttosections143.191to143.265,
45094506 42 inlieuofthecreditagainstincometaxesasprovidedinsubsection1ofthis
45104507 43 section,maybetakenbysuchanentityinadistressedcommunityinan
45114508 44 amountoffortypercentoftheamountoffundsexpendedforcomputer
45124509 45 equipmentanditsmaintenance,medicallaboratoriesandequipment,research
45134510 46 laboratoryequipment,manufacturingequipment,fiberopticequipment,high
45144511 47 speedtelecommunications,wiringorsoftwaredevelopmentexpenseuptoa
45154512 48 maximumofseventy-fivethousanddollarsintaxcreditsforsuchequipmentor
45164513 49 expenseperyearperentityandforeachofthreeyearsaftercommencementin
45174514 50 ormovingoperationsintoadistressedcommunity.
4518-51 4.Acorporation,partnershiporsolepartnership,whichhasnomore
4515+HCSHB1007 119 51 4.Acorporation,partnershiporsolepartnership,whichhasnomore
45194516 52 thanonehundredemployeesforwhompayrolltaxesarepaid,whichisalready
45204517 53 locatedinadistressedcommunityandwhichexpendsfundsforsuch
45214518 54 equipmentpursuanttosubsection3ofthissectioninanamountexceedingits
45224519 55 averageofthepriortwoyearsforsuchequipment,shallbeeligibletoreceivea
45234520 56 taxcreditagainstincometaxesowedpursuanttochapters143,147and148in
45244521 57 anamountequaltothelesserofseventy-fivethousanddollarsortwenty-five
45254522 58 percentofthefundsexpendedforsuchadditionalequipmentpersuchentity.
45264523 59 Taxcreditsallowedpursuanttothissubsectionorsubsection1ofthissection
45274524 60 maybecarriedbacktoanyofthethreepriortaxyearsandcarriedforwardto
45284525 61 anyofthenextfivetaxyears.
45294526 62 5.Anexistingcorporation,partnershiporsoleproprietorshipthatis
45304527 63 locatedwithinadistressedcommunityandthatrelocatesemployeesfrom
45314528 64 anotherfacilityoutsideofthedistressedcommunitytoitsfacilitywithinthe
45324529 65 distressedcommunity,andanexistingbusinesslocatedwithinadistressed
45334530 66 communitythathiresnewemployeesforthatfacilitymaybothbeeligiblefor
45344531 67 thetaxcreditsallowedbysubsections1and3ofthissection.Tobeeligible
45354532 68 forsuchtaxcredits,suchabusiness,duringoneofitstaxyears,shallemploy
45364533 69 withinadistressedcommunityatleasttwiceasmanyemployeesaswere
45374534 70 employedatthebeginningofthattaxyear.Abusinesshiringemployeesshall
45384535 71 havenomorethanonehundredemployeesbeforetheadditionofthenew
45394536 72 employees.Thissubsectionshallonlyapplytoabusinesswhichisa
45404537 73 manufacturing,biomedical,medicaldevices,scientificresearch,animal
45414538 74 research,computersoftwaredesignordevelopment,computerprogramming
45424539 75 ortelecommunicationsbusiness,oraprofessionalfirm.
45434540 76 6.Taxcreditsshallbeapprovedforapplicantsmeetingthe
45444541 77 requirementsofthissectionintheorderthatsuchapplicationsarereceived.
45454542 78 Certificatesoftaxcreditsissuedinaccordancewiththissectionmaybe
45464543 79 transferred,soldorassignedbynotarizedendorsementwhichnamesthe
45474544 80 transferee.
45484545 81 7.Thetaxcreditsallowedpursuanttosubsections1,2,3,4and5of
45494546 82 thissectionshallbeforanamountofnomorethantenmilliondollarsforeach
4550-HCS#2HB1007 120 83 yearbeginningin1999.Thetotalmaximumcreditforallentitiesalready
4547+83 yearbeginningin1999.Thetotalmaximumcreditforallentitiesalready
45514548 84 locatedindistressedcommunitiesandclaimingcreditspursuanttosubsection
45524549 85 4ofthissectionshallbesevenhundredandfiftythousanddollars.The
45534550 86 departmentofeconomicdevelopmentinapprovingtaxpayersforthecreditas
45544551 87 providedforinsubsection6ofthissectionshalluseinformationprovidedby
45554552 88 thedepartmentofrevenueregardingtaxespaidinthepreviousyear,or
45564553 89 projectedtaxesforthoseentitiesnewlyestablishedinthestate,asthemethod
45574554 90 ofdeterminingwhenthismaximumwillbereachedandshallmaintaina
45584555 91 recordoftheorderofapproval.Anytaxcreditnotusedintheperiodfor
45594556 92 whichthecreditwasapprovedmaybecarriedoveruntilthefullcredithas
45604557 93 beenallowed.
45614558 94 8.AMissouriemployerrelocatingintoadistressedcommunityand
45624559 95 havingemployeescoveredbyacollectivebargainingagreementatthefacility
45634560 96 fromwhichitisrelocatingshallnotbeeligibleforthecreditsinsubsection1,
45644561 97 3,4or5ofthissection,anditsemployeesshallnotbeeligibleforthecreditin
45654562 98 subsection2ofthissectioniftherelocationviolatesorterminatesacollective
4566-99 bargainingagreementcoveringemployeesatthefacility,unlesstheaffected
4563+HCSHB1007 120 99 bargainingagreementcoveringemployeesatthefacility,unlesstheaffected
45674564 100 collectivebargainingunitconcurswiththemove.
45684565 101 9.Notwithstandinganyprovisionoflawtothecontrary,notaxpayer
45694566 102 shallearnthetaxcreditsallowedinthissectionandthetaxcreditsotherwise
45704567 103 allowedinsection135.110,orthetaxcredits,exemptions,andrefund
45714568 104 otherwiseallowedinsections135.200,135.220,135.225and135.245,
45724569 105 respectively,forthesamebusinessforthesametaxperiod.]
45734570 [135.545.Ataxpayershallbeallowedacreditfortaxespaidpursuant
45744571 2 tochapter143,147or148inanamountequaltofiftypercentofaqualified
45754572 3 investmentintransportationdevelopmentforaviation,masstransportation,
45764573 4 includingparkingfacilitiesforusersofmasstransportation,railroads,ports,
45774574 5 includingparkingfacilitiesandlimitedaccessroadswithinports,waterborne
45784575 6 transportation,bicycleandpedestrianpaths,orrollingstocklocatedina
45794576 7 distressedcommunityasdefinedinsection135.530,andwhicharepartofa
45804577 8 developmentplanapprovedbytheappropriatelocalagency.Ifthedepartment
45814578 9 ofeconomicdevelopmentdeterminestheinvestmenthasbeensoapproved,
45824579 10 thedepartmentshallgrantthetaxcreditinorderofdatereceived.Ataxpayer
45834580 11 maycarryforwardanyunusedtaxcreditforuptotenyearsandmaycarryit
45844581 12 backforthepreviousthreeyearsuntilsuchcredithasbeenfullyclaimed.
45854582 13 Certificatesoftaxcreditissuedinaccordancewiththissectionmaybe
45864583 14 transferred,soldorassignedbynotarizedendorsementwhichnamesthe
45874584 15 transferee.Thetaxcreditsallowedpursuanttothissectionshallbeforan
45884585 16 amountofnomorethantenmilliondollarsforeachyear.Thiscreditshall
45894586 17 applytoreturnsfiledforalltaxableyearsbeginningonorafterJanuary1,
45904587 18 1999.Anyunusedportionofthetaxcreditauthorizedpursuanttothissection
45914588 19 shallbeavailableforuseinthefuturebythoseentitiesuntilfullyclaimed.For
45924589 20 purposesofthissection,a"taxpayer"shallincludeanycharitableorganization
45934590 21 thatisexemptfromfederalincometaxandwhoseMissouriunrelatedbusiness
45944591 22 taxableincome,ifany,wouldbesubjecttothestateincometaximposedunder
45954592 23 chapter143.]
4596-HCS#2HB1007 121 [135.546.ForalltaxyearsbeginningonorafterJanuary1,2005,no
4593+[135.546.ForalltaxyearsbeginningonorafterJanuary1,2005,no
45974594 2 taxcreditsshallbeapproved,awarded,orissuedtoanypersonorentity
45984595 3 claiminganytaxcreditundersection135.545;ifanorganizationhasbeen
45994596 4 allocatedcreditsforcontribution-basedcreditspriortoJanuary1,2005,the
46004597 5 organizationmayissuesuchcreditspriortoJanuary1,2007,forqualified
46014598 6 contributions.]
46024599 [135.679.1.Thissectionshallbeknownandmaybecitedasthe
46034600 2 "QualifiedBeefTaxCreditAct".
46044601 3 2.Asusedinthissection,thefollowingtermsmean:
46054602 4 (1)"Agriculturalproperty",anyrealandpersonalproperty,including
46064603 5 butnotlimitedtobuildings,structures,improvements,equipment,and
46074604 6 livestock,thatisusedinoristobeusedinthisstatebyresidentsofthis
46084605 7 statefor:
46094606 8 (a)Theoperationofafarmorranch;and
46104607 9 (b)Grazing,feeding,orthecareoflivestock;
4611-10 (2)"Authority",theagriculturalandsmallbusinessdevelopment
4608+HCSHB1007 121 10 (2)"Authority",theagriculturalandsmallbusinessdevelopment
46124609 11 authorityestablishedinchapter348;
46134610 12 (3)"Backgrounded",anyadditionalweightatthetimeofthefirst
46144611 13 qualifyingsale,beforebeingfinished,abovetheestablishedbaselineweight;
46154612 14 (4)"Baselineweight",theaverageweightintheimmediatepasttwo
46164613 15 yearsofallbeefanimalssoldthatarethirtymonthsofageoryounger,
46174614 16 categorizedbysex.Baselineweightforqualifiedbeefanimalsthatare
46184615 17 physicallyout-of-statebutwhoseownershipisretainedbyaresidentofthis
46194616 18 stateshallbeestablishedbytheaveragetransferweightintheimmediatepast
46204617 19 twoyearsofallbeefanimalsthatarethirtymonthsofageoryoungerandthat
46214618 20 aretransferredout-of-statebutwhoseownershipisretainedbyaresidentof
46224619 21 thisstate,categorizedbysex.Theestablishedbaselineweightshallbe
46234620 22 effectiveforaperiodofthreeyears.Ifthetaxpayerisaqualifyingbeefanimal
46244621 23 producerwithfewerthantwoyearsofproduction,thebaselineweightshallbe
46254622 24 establishedbytheavailableaverageweightintheimmediatepastyearofall
46264623 25 beefanimalssoldthatarethirtymonthsofageoryounger,categorizedbysex.
46274624 26 Ifthequalifyingbeefanimalproducerhasnopreviousproduction,thebaseline
46284625 27 weightshallbeestablishedbytheauthority;
46294626 28 (5)"Finished",theperiodfrombackgroundedtoharvest;
46304627 29 (6)"Qualifyingbeefanimal",anybeefanimalthatiscertifiedbythe
46314628 30 authority,thatwasborninthisstateafterAugust28,2008,thatwasraisedand
46324629 31 backgroundedorfinishedinthisstatebythetaxpayer,excludinganybeef
46334630 32 animalmorethanthirtymonthsofageasverifiedbycertifiedwrittenbirth
46344631 33 records;
46354632 34 (7)"Qualifyingsale",thefirsttimeaqualifyingbeefanimalissoldin
46364633 35 thisstateafterthequalifyingbeefanimalisbackgrounded,andasubsequent
46374634 36 saleiftheweightofthequalifyingbeefanimalatthetimeofthesubsequent
46384635 37 saleisgreaterthantheweightofthequalifyingbeefanimalatthetimeofthe
46394636 38 firstqualifyingsaleofsuchbeefanimal;
46404637 39 (8)"Taxcredit",acreditagainstthetaxotherwisedueunderchapter
46414638 40 143,excludingwithholdingtaximposedbysections143.191to143.265,or
46424639 41 otherwisedueunderchapter147;
4643-HCS#2HB1007 122 42 (9)"Taxpayer",anyindividualorentitywho:
4640+42 (9)"Taxpayer",anyindividualorentitywho:
46444641 43 (a)Issubjecttothetaximposedinchapter143,excludingwithholding
46454642 44 taximposedbysections143.191to143.265,orthetaximposedinchapter
46464643 45 147;
46474644 46 (b)Inthecaseofanindividual,isaresidentofthisstateasverifiedby
46484645 47 a911addressorintheabsenceofa911system,aphysicaladdress;and
46494646 48 (c)Ownsorrentsagriculturalpropertyandprincipalplaceofbusiness
46504647 49 islocatedinthisstate.
46514648 50 3.(1)ForalltaxyearsbeginningonorafterJanuary1,2009,but
46524649 51 endingonorbeforeDecember31,2021,ataxpayershallbeallowedatax
46534650 52 creditforthefirstqualifyingsaleandforasubsequentqualifyingsaleofall
46544651 53 qualifyingbeefanimals.
46554652 54 (2)Thetaxcreditamountforthefirstqualifyingsaleshallbetencents
46564653 55 perpoundforqualifyingsaleweightsundersixhundredpoundsandtwenty-
46574654 56 fivecentsperpoundforqualifyingsaleweightsofsixhundredpoundsor
46584655 57 greater,shallbebasedonthebackgroundedweightofallqualifyingbeef
4659-58 animalsatthetimeofthefirstqualifyingsale,andshallbecalculatedas
4656+HCSHB1007 122 58 animalsatthetimeofthefirstqualifyingsale,andshallbecalculatedas
46604657 59 follows:
46614658 60 (a)Ifthequalifyingsaleweightisundersixhundredpounds,the
46624659 61 qualifyingsaleweightminusthebaselineweightmultipliedbytencents,as
46634660 62 longasthequalifyingsaleweightisequaltoorgreaterthanonehundred
46644661 63 poundsabovethebaselineweight;or
46654662 64 (b)Ifthequalifyingsaleweightissixhundredpoundsorgreater,the
46664663 65 qualifyingsaleweightminusthebaselineweightmultipliedbytwenty-five
46674664 66 cents,aslongasthequalifyingsaleweightisequaltoorgreaterthanone
46684665 67 hundredpoundsabovethebaselineweight.
46694666 68 (3)Thetaxcreditamountforeachsubsequentqualifyingsaleshallbe
46704667 69 tencentsperpoundforqualifyingsaleweightsundersixhundredpoundsand
46714668 70 twenty-fivecentsperpoundforqualifyingsaleweightsofsixhundredpounds
46724669 71 orgreater,shallbebasedonthebackgroundedweightofallqualifyingbeef
46734670 72 animalsatthetimeofthesubsequentqualifyingsale,andshallbecalculatedas
46744671 73 follows:
46754672 74 (a)Ifthequalifyingsaleweightisundersixhundredpounds,the
46764673 75 qualifyingsaleweightminusthebaselineweightmultipliedbytencents,as
46774674 76 longasthequalifyingsaleweightisequaltoorgreaterthanonehundred
46784675 77 poundsabovethebaselineweight;or
46794676 78 (b)Ifthequalifyingsaleweightissixhundredpoundsorgreater,the
46804677 79 qualifyingsaleweightminusthebaselineweightmultipliedbytwenty-five
46814678 80 cents,aslongasthequalifyingsaleweightisequaltoorgreaterthanone
46824679 81 hundredpoundsabovethebaselineweight.
46834680 82
46844681 83 Theauthoritymaywaivenomorethantwenty-fivepercentoftheone-
46854682 84 hundred-poundweightgainrequirement,butanysuchwaivershallbebased
46864683 85 onadisasterdeclarationissuedbytheU.S.DepartmentofAgriculture.
46874684 86 4.Theamountofthetaxcreditclaimedshallnotexceedtheamountof
46884685 87 thetaxpayer'sstatetaxliabilityforthetaxyearforwhichthecreditisclaimed.
46894686 88 Notaxcreditclaimedunderthissectionshallberefundable.Thetaxcredit
46904687 89 shallbeclaimedinthetaxyearinwhichthequalifyingsaleofthequalifying
4691-HCS#2HB1007 123 90 beefoccurred,butanyamountofcreditthatthetaxpayerisprohibitedbythis
4688+90 beefoccurred,butanyamountofcreditthatthetaxpayerisprohibitedbythis
46924689 91 sectionfromclaiminginataxyearmaybecarriedforwardtoanyofthe
46934690 92 taxpayer'sfoursubsequenttaxyears.Thetotalamountoftaxcreditsthatany
46944691 93 taxpayermayclaimshallnotexceedfifteenthousanddollarsperyear.No
46954692 94 taxpayershallbeallowedtoclaimtaxcreditsunderthissectionformorethan
46964693 95 threeyears.Theamountoftaxcreditsthatmaybeissuedtoalleligible
46974694 96 applicantsclaimingtaxcreditsauthorizedinthissectionandsection135.686
46984695 97 inacalendaryearshallnotexceedtwomilliondollars.Taxcreditsshallbe
46994696 98 issuedonanas-receivedapplicationbasisuntilthecalendaryearlimitis
47004697 99 reached.Anycreditsnotissuedinanycalendaryearshallexpireandshallnot
47014698 100 beissuedinanysubsequentyears.
47024699 101 5.Toclaimthetaxcreditallowedunderthissection,thetaxpayershall
47034700 102 submittotheauthorityanapplicationforthetaxcreditonaformprovidedby
47044701 103 theauthorityandanyapplicationfeeimposedbytheauthority.The
47054702 104 applicationshallbefiledwiththeauthorityattheendofeachcalendaryearin
47064703 105 whichaqualifiedsalewasmadeandforwhichataxcreditisclaimedunder
4707-106 thissection.Theapplicationshallincludeanycertifieddocumentationand
4704+HCSHB1007 123 106 thissection.Theapplicationshallincludeanycertifieddocumentationand
47084705 107 informationrequiredbytheauthority.Allrequiredinformationobtainedby
47094706 108 theauthorityshallbeconfidentialandnotdisclosedexceptbycourtorder,
47104707 109 subpoena,orasotherwiseprovidedbylaw.Ifthetaxpayerandthequalified
47114708 110 salemeetallcriteriarequiredbythissectionandapprovalisgrantedbythe
47124709 111 authority,theauthorityshallissueataxcreditcertificateintheappropriate
47134710 112 amount.Taxcreditcertificatesissuedunderthissectionmaybeassigned,
47144711 113 transferred,sold,orotherwiseconveyed,andthenewownerofthetaxcredit
47154712 114 certificateshallhavethesamerightsinthetaxcreditastheoriginaltaxpayer.
47164713 115 Wheneverataxcreditcertificateisassigned,transferred,soldorotherwise
47174714 116 conveyed,anotarizedendorsementshallbefiledwiththeauthorityspecifying
47184715 117 thenameandaddressofthenewownerofthetaxcreditcertificateorthevalue
47194716 118 ofthetaxcredit.
47204717 119 6.Anyinformationprovidedunderthissectionshallbeconfidential
47214718 120 information,tobesharedwithnooneexceptstateandfederalanimalhealth
47224719 121 officials,exceptasprovidedinsubsection5ofthissection.
47234720 122 7.Theauthorityshall,atleastannually,submitareporttotheMissouri
47244721 123 generalassemblyreviewingthecostsandbenefitsoftheprogramestablished
47254722 124 underthissection.
47264723 125 8.Theauthoritymaypromulgaterulestoimplementtheprovisionsof
47274724 126 thissection.Anyruleorportionofarule,asthattermisdefinedinsection
47284725 127 536.010,thatiscreatedundertheauthoritydelegatedinthissectionshall
47294726 128 becomeeffectiveonlyifitcomplieswithandissubjecttoalloftheprovisions
47304727 129 ofchapter536and,ifapplicable,section536.028.Thissectionandchapter
47314728 130 536arenonseverableandifanyofthepowersvestedwiththegeneral
47324729 131 assemblypursuanttochapter536toreview,todelaytheeffectivedate,orto
47334730 132 disapproveandannularulearesubsequentlyheldunconstitutional,thenthe
47344731 133 grantofrulemakingauthorityandanyruleproposedoradoptedafterAugust
47354732 134 28,2007,shallbeinvalidandvoid.
47364733 135 9.ThissectionshallnotbesubjecttotheMissourisunsetact,sections
47374734 136 23.250to23.298.]
4738-HCS#2HB1007 124 [135.680.1.Asusedinthissection,thefollowingtermsshallmean:
4735+[135.680.1.Asusedinthissection,thefollowingtermsshallmean:
47394736 2 (1)"Adjustedpurchaseprice",theproductof:
47404737 3 (a)Theamountpaidtotheissuerofaqualifiedequityinvestmentfor
47414738 4 suchqualifiedequityinvestment;and
47424739 5 (b)Thefollowingfraction:
47434740 6 a.Thenumeratorshallbethedollaramountofqualifiedlow-income
47444741 7 communityinvestmentsheldbytheissuerinthisstateasofthecredit
47454742 8 allowancedateduringtheapplicabletaxyear;and
47464743 9 b.Thedenominatorshallbethetotaldollaramountofqualifiedlow-
47474744 10 incomecommunityinvestmentsheldbytheissuerinallstatesasofthecredit
47484745 11 allowancedateduringtheapplicabletaxyear;
47494746 12 c.Forpurposesofcalculatingtheamountofqualifiedlow-income
47504747 13 communityinvestmentsheldbyanissuer,aninvestmentshallbeconsidered
47514748 14 heldbyanissuereveniftheinvestmenthasbeensoldorrepaid;providedthat
47524749 15 theissuerreinvestsanamountequaltothecapitalreturnedtoorrecoveredby
47534750 16 theissuerfromtheoriginalinvestment,exclusiveofanyprofitsrealized,in
4754-17 anotherqualifiedlow-incomecommunityinvestmentwithintwelvemonthsof
4751+HCSHB1007 124 17 anotherqualifiedlow-incomecommunityinvestmentwithintwelvemonthsof
47554752 18 thereceiptofsuchcapital.Anissuershallnotberequiredtoreinvestcapital
47564753 19 returnedfromqualifiedlow-incomecommunityinvestmentsafterthesixth
47574754 20 anniversaryoftheissuanceofthequalifiedequityinvestment,theproceedsof
47584755 21 whichwereusedtomakethequalifiedlow-incomecommunityinvestment,
47594756 22 andthequalifiedlow-incomecommunityinvestmentshallbeconsideredheld
47604757 23 bytheissuerthroughtheseventhanniversaryofthequalifiedequity
47614758 24 investment'sissuance;
47624759 25 (2)"Applicablepercentage",zeropercentforeachofthefirsttwo
47634760 26 creditallowancedates,sevenpercentforthethirdcreditallowancedate,and
47644761 27 eightpercentforthenextfourcreditallowancedates;
47654762 28 (3)"Creditallowancedate",withrespecttoanyqualifiedequity
47664763 29 investment:
47674764 30 (a)Thedateonwhichsuchinvestmentisinitiallymade;and
47684765 31 (b)Eachofthesixanniversarydatesofsuchdatethereafter;
47694766 32 (4)"Long-termdebtsecurity",anydebtinstrumentissuedbya
47704767 33 qualifiedcommunitydevelopmententity,atparvalueorapremium,withan
47714768 34 originalmaturitydateofatleastsevenyearsfromthedateofitsissuance,with
47724769 35 noaccelerationofrepayment,amortization,orprepaymentfeaturespriortoits
47734770 36 originalmaturitydate,andwithnodistribution,payment,orinterestfeatures
47744771 37 relatedtotheprofitabilityofthequalifiedcommunitydevelopmententityor
47754772 38 theperformanceofthequalifiedcommunitydevelopmententity'sinvestment
47764773 39 portfolio.Theforegoingshallinnowaylimittheholder'sabilitytoaccelerate
47774774 40 paymentsonthedebtinstrumentinsituationswheretheissuerhasdefaulted
47784775 41 oncovenantsdesignedtoensurecompliancewiththissectionorSection45D
47794776 42 oftheInternalRevenueCodeof1986,asamended;
47804777 43 (5)"Qualifiedactivelow-incomecommunitybusiness",themeaning
47814778 44 givensuchterminSection45DoftheInternalRevenueCodeof1986,as
47824779 45 amended;providedthatanybusinessthatderivesorprojectstoderivefifteen
47834780 46 percentormoreofitsannualrevenuefromtherentalorsaleofrealestateshall
47844781 47 notbeconsideredtobeaqualifiedactivelow-incomecommunitybusiness;
4785-HCS#2HB1007 125 48 (6)"Qualifiedcommunitydevelopmententity",themeaninggiven
4782+48 (6)"Qualifiedcommunitydevelopmententity",themeaninggiven
47864783 49 suchterminSection45DoftheInternalRevenueCodeof1986,asamended;
47874784 50 providedthatsuchentityhasenteredintoanallocationagreementwiththe
47884785 51 CommunityDevelopmentFinancialInstitutionsFundoftheU.S.Treasury
47894786 52 DepartmentwithrespecttocreditsauthorizedbySection45DoftheInternal
47904787 53 RevenueCodeof1986,asamended,whichincludesthestateofMissouri
47914788 54 withintheserviceareasetforthinsuchallocationagreement;
47924789 55 (7)"Qualifiedequityinvestment",anyequityinvestmentin,orlong-
47934790 56 termdebtsecurityissuedby,aqualifiedcommunitydevelopmententitythat:
47944791 57 (a)IsacquiredafterSeptember4,2007,atitsoriginalissuancesolely
47954792 58 inexchangeforcash;
47964793 59 (b)Hasatleasteighty-fivepercentofitscashpurchasepriceusedby
47974794 60 theissuertomakequalifiedlow-incomecommunityinvestments;and
47984795 61 (c)Isdesignatedbytheissuerasaqualifiedequityinvestmentunder
47994796 62 thissubdivisionandiscertifiedbythedepartmentofeconomicdevelopment
48004797 63 asnotexceedingthelimitationcontainedinsubsection2ofthissection.This
48014798 64 termshallincludeanyqualifiedequityinvestmentthatdoesnotmeetthe
4802-65 provisionsofparagraph(a)ofthissubdivisionifsuchinvestmentwasa
4799+HCSHB1007 125 65 provisionsofparagraph(a)ofthissubdivisionifsuchinvestmentwasa
48034800 66 qualifiedequityinvestmentinthehandsofapriorholder;
48044801 67 (8)"Qualifiedlow-incomecommunityinvestment",anycapitalor
48054802 68 equityinvestmentin,orloanto,anyqualifiedactivelow-incomecommunity
48064803 69 business.Withrespecttoanyonequalifiedactivelow-incomecommunity
48074804 70 business,themaximumamountofqualifiedlow-incomecommunity
48084805 71 investmentsmadeinsuchbusiness,onacollectivebasiswithallofits
48094806 72 affiliates,thatmaybeusedfromthecalculationofanynumeratordescribedin
48104807 73 subparagrapha.ofparagraph(b)ofsubdivision(1)ofthissubsectionshallbe
48114808 74 tenmilliondollarswhetherissuedtooneorseveralqualifiedcommunity
48124809 75 developmententities;
48134810 76 (9)"Taxcredit",acreditagainstthetaxotherwisedueunderchapter
48144811 77 143,excludingwithholdingtaximposedinsections143.191to143.265,or
48154812 78 otherwisedueundersection375.916orchapter147,148,or153;
48164813 79 (10)"Taxpayer",anyindividualorentitysubjecttothetaximposedin
48174814 80 chapter143,excludingwithholdingtaximposedinsections143.191to
48184815 81 143.265,orthetaximposedinsection375.916orchapter147,148,or153.
48194816 82 2.Ataxpayerthatmakesaqualifiedequityinvestmentearnsavested
48204817 83 righttotaxcreditsunderthissection.Oneachcreditallowancedateofsuch
48214818 84 qualifiedequityinvestmentthetaxpayer,orsubsequentholderofthequalified
48224819 85 equityinvestment,shallbeentitledtoataxcreditduringthetaxableyear
48234820 86 includingsuchcreditallowancedate.Thetaxcreditamountshallbeequalto
48244821 87 theapplicablepercentageoftheadjustedpurchasepricepaidtotheissuerof
48254822 88 suchqualifiedequityinvestment.Theamountofthetaxcreditclaimedshall
48264823 89 notexceedtheamountofthetaxpayer'sstatetaxliabilityforthetaxyearfor
48274824 90 whichthetaxcreditisclaimed.Notaxcreditclaimedunderthissectionshall
48284825 91 berefundableortransferable.Taxcreditsearnedbyapartnership,limited
48294826 92 liabilitycompany,S-corporation,orotherpass-throughentitymaybeallocated
48304827 93 tothepartners,members,orshareholdersofsuchentityfortheirdirectusein
48314828 94 accordancewiththeprovisionsofanyagreementamongsuchpartners,
48324829 95 members,orshareholders.Anyamountoftaxcreditthatthetaxpayeris
4833-HCS#2HB1007 126 96 prohibitedbythissectionfromclaiminginataxableyearmaybecarried
4830+96 prohibitedbythissectionfromclaiminginataxableyearmaybecarried
48344831 97 forwardtoanyofthetaxpayer'sfivesubsequenttaxableyears.The
48354832 98 departmentofeconomicdevelopmentshalllimitthemonetaryamountof
48364833 99 qualifiedequityinvestmentspermittedunderthissectiontoalevelnecessary
48374834 100 tolimittaxcreditutilizationatnomorethantwenty-fivemilliondollarsoftax
48384835 101 creditsinanyfiscalyear.Suchlimitationonqualifiedequityinvestmentsshall
48394836 102 bebasedontheanticipatedutilizationofcreditswithoutregardtothepotential
48404837 103 fortaxpayerstocarryforwardtaxcreditstolatertaxyears.
48414838 104 3.Theissuerofthequalifiedequityinvestmentshallcertifytothe
48424839 105 departmentofeconomicdevelopmenttheanticipateddollaramountofsuch
48434840 106 investmentstobemadeinthisstateduringthefirsttwelve-monthperiod
48444841 107 followingtheinitialcreditallowancedate.Ifonthesecondcreditallowance
48454842 108 date,theactualdollaramountofsuchinvestmentsisdifferentthantheamount
48464843 109 estimated,thedepartmentofeconomicdevelopmentshalladjustthecredits
48474844 110 arisingonthesecondallowancedatetoaccountforsuchdifference.
4848-111 4.Thedepartmentofeconomicdevelopmentshallrecapturethetax
4845+HCSHB1007 126 111 4.Thedepartmentofeconomicdevelopmentshallrecapturethetax
48494846 112 creditallowedunderthissectionwithrespecttosuchqualifiedequity
48504847 113 investmentunderthissectionif:
48514848 114 (1)Anyamountofthefederaltaxcreditavailablewithrespecttoa
48524849 115 qualifiedequityinvestmentthatiseligibleforataxcreditunderthissectionis
48534850 116 recapturedunderSection45DoftheInternalRevenueCodeof1986,as
48544851 117 amended;or
48554852 118 (2)Theissuerredeemsormakesprincipalrepaymentwithrespecttoa
48564853 119 qualifiedequityinvestmentpriortotheseventhanniversaryoftheissuanceof
48574854 120 suchqualifiedequityinvestment.Anytaxcreditthatissubjecttorecapture
48584855 121 shallberecapturedfromthetaxpayerthatclaimedthetaxcreditonareturn.
48594856 122 5.Thedepartmentofeconomicdevelopmentshallpromulgaterulesto
48604857 123 implementtheprovisionsofthissection,includingrecaptureprovisionsona
48614858 124 scaledproportionalbasis,andtoadministertheallocationoftaxcreditsissued
48624859 125 forqualifiedequityinvestments,whichshallbeconductedonafirst-come,
48634860 126 first-servebasis.Anyruleorportionofarule,asthattermisdefinedin
48644861 127 section536.010,thatiscreatedundertheauthoritydelegatedinthissection
48654862 128 shallbecomeeffectiveonlyifitcomplieswithandissubjecttoallofthe
48664863 129 provisionsofchapter536and,ifapplicable,section536.028.Thissectionand
48674864 130 chapter536arenonseverableandifanyofthepowersvestedwiththegeneral
48684865 131 assemblypursuanttochapter536toreview,todelaytheeffectivedate,orto
48694866 132 disapproveandannularulearesubsequentlyheldunconstitutional,thenthe
48704867 133 grantofrulemakingauthorityandanyruleproposedoradoptedafter
48714868 134 September4,2007,shallbeinvalidandvoid.
48724869 135 6.Forfiscalyearsfollowingfiscalyear2010,qualifiedequity
48734870 136 investmentsshallnotbemadeunderthissectionunlessreauthorizationis
48744871 137 madepursuanttothissubsection.Forallfiscalyearsfollowingfiscalyear
48754872 138 2010,unlessthegeneralassemblyadoptsaconcurrentresolutiongranting
48764873 139 authoritytothedepartmentofeconomicdevelopmenttoapprovequalified
48774874 140 equityinvestmentsfortheMissourinewmarketsdevelopmentprogramand
48784875 141 clearlydescribingtheamountoftaxcreditsavailableforthenextfiscalyear,
48794876 142 orotherwisecomplieswiththeprovisionsofthissubsection,noqualified
48804877 143 equityinvestmentsmaybepermittedtobemadeunderthissection.The
4881-HCS#2HB1007 127 144 amountofavailabletaxcreditscontainedinsucharesolutionshallnotexceed
4878+144 amountofavailabletaxcreditscontainedinsucharesolutionshallnotexceed
48824879 145 thelimitationprovidedundersubsection2ofthissection.Inanyyearin
48834880 146 whichtheprovisionsofthissectionshallsunsetpursuanttosubsection7of
48844881 147 thissection,reauthorizationshallbemadebygenerallawandnotby
48854882 148 concurrentresolution.Nothinginthissubsectionshallprecludeataxpayer
48864883 149 whomakesaqualifiedequityinvestmentpriortotheexpirationofauthorityto
48874884 150 makequalifiedequityinvestmentsfromclaimingtaxcreditsrelatingtosuch
48884885 151 qualifiedequityinvestmentforeachapplicablecreditallowancedate.
48894886 152 7.Undersection23.253oftheMissourisunsetact:
48904887 153 (1)Theprovisionsofthenewprogramauthorizedunderthissection
48914888 154 shallautomaticallysunsetsixyearsafterSeptember4,2007,unless
48924889 155 reauthorizedbyanactofthegeneralassembly;and
48934890 156 (2)Ifsuchprogramisreauthorized,theprogramauthorizedunderthis
48944891 157 sectionshallautomaticallysunsettwelveyearsaftertheeffectivedateofthe
48954892 158 reauthorizationofthissection;and
4896-159 (3)ThissectionshallterminateonSeptemberfirstofthecalendaryear
4893+HCSHB1007 127 159 (3)ThissectionshallterminateonSeptemberfirstofthecalendaryear
48974894 160 immediatelyfollowingthecalendaryearinwhichtheprogramauthorized
48984895 161 underthissectionissunset.However,nothinginthissubsectionshallpreclude
48994896 162 ataxpayerwhomakesaqualifiedequityinvestmentpriortosunsetofthis
49004897 163 sectionundertheprovisionsofsection23.253fromclaimingtaxcredits
49014898 164 relatingtosuchqualifiedequityinvestmentforeachcreditallowancedate.]
49024899 [135.682.1.Thedirectorofthedepartmentofeconomicdevelopment
49034900 2 orthedirector'sdesigneeshallissueletterrulingsregardingthetaxcredit
49044901 3 programauthorizedundersection135.680,subjecttothetermsandconditions
49054902 4 setforthinthissection.Thedirectorofthedepartmentofeconomic
49064903 5 developmentmayimposeadditionaltermsandconditionsconsistentwiththis
49074904 6 sectiontorequestsforletterrulingsbyregulationpromulgatedunderchapter
49084905 7 536.Forthepurposesofthissection,theterm"letterruling"meansawritten
49094906 8 interpretationoflawtoaspecificsetoffactsprovidedbytheapplicant
49104907 9 requestingaletterruling.
49114908 10 2.Thedirectorordirector'sdesigneeshallrespondtoarequestfora
49124909 11 letterrulingwithinsixtydaysofreceiptofsuchrequest.Theapplicantmay
49134910 12 provideadraftletterrulingforthedepartment'sconsideration.Theapplicant
49144911 13 maywithdrawtherequestforaletterruling,inwriting,priortotheissuanceof
49154912 14 theletterruling.Thedirectororthedirector'sdesigneemayrefusetoissuea
49164913 15 letterrulingforgoodcause,butmustlistthespecificreasonsforrefusingto
49174914 16 issuetheletterruling.Goodcauseincludes,butisnotlimitedto:
49184915 17 (1)Theapplicantrequeststhedirectortodeterminewhetherastatute
49194916 18 isconstitutionaloraregulationislawful;
49204917 19 (2)Therequestinvolvesahypotheticalsituationoralternativeplans;
49214918 20 (3)Thefactsorissuespresentedintherequestareunclear,overbroad,
49224919 21 insufficient,orotherwiseinappropriateasabasisuponwhichtoissuealetter
49234920 22 ruling;and
49244921 23 (4)Theissueiscurrentlybeingconsideredinarulemakingprocedure,
49254922 24 contestedcase,orotheragencyorjudicialproceedingthatmaydefinitely
49264923 25 resolvetheissue.
4927-HCS#2HB1007 128 26 3.Letterrulingsshallbindthedirectorandthedirector'sagentsand
4924+26 3.Letterrulingsshallbindthedirectorandthedirector'sagentsand
49284925 27 theirsuccessorsuntilsuchtimeasthetaxpayeroritsshareholders,members,
49294926 28 orpartners,asapplicable,claimallofsuchtaxcreditsonaMissouritaxreturn,
49304927 29 subjecttothetermsandconditionssetforthinproperlypublishedregulations.
49314928 30 Theletterrulingshallapplyonlytotheapplicant.
49324929 31 4.Letterrulingsissuedundertheauthorityofthissectionshallnotbea
49334930 32 ruleasdefinedinsection536.010inthatitisaninterpretationissuedbythe
49344931 33 departmentwithrespecttoaspecificsetoffactsandintendedtoapplyonlyto
49354932 34 thatspecificsetoffacts,andthereforeshallnotbesubjecttotherulemaking
49364933 35 requirementsofchapter536.
49374934 36 5.Informationinletterrulingrequestsasdescribedinsection620.014
49384935 37 shallbeclosedtothepublic.Copiesofletterrulingsshallbeavailabletothe
49394936 38 publicprovidedthattheapplicantidentifyinginformationandotherwise
49404937 39 protectedinformationisredactedfromtheletterrulingasprovidedin
49414938 40 subsection1ofsection610.024.]
4942-[135.700.ForalltaxyearsbeginningonorafterJanuary1,1999,a
4939+HCSHB1007 128 [135.700.ForalltaxyearsbeginningonorafterJanuary1,1999,a
49434940 2 grapegrowerorwineproducershallbeallowedataxcreditagainstthestate
49444941 3 taxliabilityincurredpursuanttochapter143,exclusiveoftheprovisions
49454942 4 relatingtothewithholdingoftaxasprovidedinsections143.191to143.265,
49464943 5 inanamountequaltotwenty-fivepercentofthepurchasepriceofallnew
49474944 6 equipmentandmaterialsuseddirectlyinthegrowingofgrapesorthe
49484945 7 productionofwineinthestate.Eachgrowerorproducershallapplytothe
49494946 8 departmentofeconomicdevelopmentandspecifythetotalamountofsuch
49504947 9 newequipmentandmaterialspurchasedduringthecalendaryear.The
49514948 10 departmentofeconomicdevelopmentshallcertifytothedepartmentof
49524949 11 revenuetheamountofsuchtaxcredittowhichagrapegrowerorwine
49534950 12 producerisentitledpursuanttothissection.Theprovisionsofthissection
49544951 13 notwithstanding,agrowerorproducermayonlyapplyforandreceivethe
49554952 14 creditauthorizedbythissectionforfivetaxperiods.]
49564953 [135.710.1.Asusedinthissection,thefollowingtermsmean:
49574954 2 (1)"Alternativefuelvehiclerefuelingproperty",propertyinthisstate
49584955 3 ownedbyaneligibleapplicantandusedforstoringalternativefuelsandfor
49594956 4 dispensingsuchalternativefuelsintofueltanksofmotorvehiclesownedby
49604957 5 sucheligibleapplicantorprivatecitizens;
49614958 6 (2)"Alternativefuels",anymotorfuelatleastseventypercentofthe
49624959 7 volumeofwhichconsistsofoneormoreofthefollowing:
49634960 8 (a)Ethanol;
49644961 9 (b)Naturalgas;
49654962 10 (c)Compressednaturalgas,orCNG;
49664963 11 (d)Liquifiednaturalgas,orLNG;
49674964 12 (e)Liquifiedpetroleumgas,orLPgas,propane,orautogas;
49684965 13 (f)Anymixtureofbiodieselanddieselfuel,withoutregardtoanyuse
49694966 14 ofkerosene;
49704967 15 (g)Hydrogen;
49714968 16 (3)"Department",thedepartmentofeconomicdevelopment;
4972-HCS#2HB1007 129 17 (4)"Electricvehiclerechargingproperty",propertyinthisstateowned
4969+17 (4)"Electricvehiclerechargingproperty",propertyinthisstateowned
49734970 18 byaneligibleapplicantandusedforrechargingelectricmotorvehiclesowned
49744971 19 bysucheligibleapplicantorprivatecitizens;
49754972 20 (5)"Eligibleapplicant",abusinessentityorprivatecitizenthatisthe
49764973 21 ownerofanelectricvehiclerechargingpropertyoranalternativefuelvehicle
49774974 22 refuelingproperty;
49784975 23 (6)"QualifiedMissouricontractor",acontractorwhoseprincipalplace
49794976 24 ofbusinessislocatedinMissouriandhasbeenlocatedinMissouriforaperiod
49804977 25 ofnotlessthanfiveyears;
49814978 26 (7)"Qualifiedproperty",anelectricvehiclerechargingpropertyoran
49824979 27 alternativefuelvehiclerefuelingpropertywhich,ifconstructedafterAugust
49834980 28 28,2014,wasconstructedwithatleastfifty-onepercentofthecostsbeingpaid
49844981 29 toqualifiedMissouricontractorsforthe:
49854982 30 (a)Fabricationofpremanufacturedequipmentorprocesspipingused
49864983 31 intheconstructionofsuchfacility;
49874984 32 (b)Constructionofsuchfacility;and
4988-33 (c)Generalmaintenanceofsuchfacilityduringthetimeperiodin
4985+HCSHB1007 129 33 (c)Generalmaintenanceofsuchfacilityduringthetimeperiodin
49894986 34 whichsuchfacilityreceivesanytaxcreditunderthissection.
49904987 35
49914988 36 IfnoqualifiedMissouricontractorislocatedwithinseventy-fivemilesofthe
49924989 37 property,therequirementthatfifty-onepercentofthecostsshallbepaidto
49934990 38 qualifiedMissouricontractorsshallnotapply.
49944991 39 2.ForalltaxyearsbeginningonorafterJanuary1,2015,butbefore
49954992 40 January1,2018,anyeligibleapplicantwhoinstallsandoperatesaqualified
49964993 41 propertyshallbeallowedacreditagainstthetaxotherwisedueunderchapter
49974994 42 143,excludingwithholdingtaximposedbysections143.191to143.265,or
49984995 43 dueunderchapter147orchapter148foranytaxyearinwhichtheapplicantis
49994996 44 constructingthequalifiedproperty.Thecreditallowedinthissectionper
50004997 45 eligibleapplicantwhoisaprivatecitizenshallnotexceedfifteenhundred
50014998 46 dollarsorpereligibleapplicantthatisabusinessentityshallnotexceedthe
50024999 47 lesseroftwentythousanddollarsortwentypercentofthetotalcostsdirectly
50035000 48 associatedwiththepurchaseandinstallationofanyalternativefuelstorageand
50045001 49 dispensingequipmentoranyrechargingequipmentonanyqualifiedproperty,
50055002 50 whichshallnotincludethefollowing:
50065003 51 (1)Costsassociatedwiththepurchaseoflanduponwhichtoplacea
50075004 52 qualifiedproperty;
50085005 53 (2)Costsassociatedwiththepurchaseofanexistingqualified
50095006 54 property;or
50105007 55 (3)Costsfortheconstructionorpurchaseofanystructure.
50115008 56 3.Taxcreditsallowedbythissectionshallbeclaimedbytheeligible
50125009 57 applicantatthetimesuchapplicantfilesareturnforthetaxyearinwhichthe
50135010 58 storageanddispensingorrechargingfacilitieswereplacedinserviceata
50145011 59 qualifiedproperty,andshallbeappliedagainsttheincometaxliability
50155012 60 imposedbychapter143,chapter147,orchapter148afterallothercredits
50165013 61 providedbylawhavebeenapplied.Thecumulativeamountoftaxcredits
50175014 62 whichmaybeclaimedbyeligibleapplicantsclaimingallcreditsauthorizedin
50185015 63 thissectionshallnotexceedonemilliondollarsinanycalendaryear,subjectto
50195016 64 appropriations.
5020-HCS#2HB1007 130 65 4.Iftheamountofthetaxcreditexceedstheeligibleapplicant'stax
5017+65 4.Iftheamountofthetaxcreditexceedstheeligibleapplicant'stax
50215018 66 liability,thedifferenceshallnotberefundable.Anyamountofcreditthatan
50225019 67 eligibleapplicantisprohibitedbythissectionfromclaiminginataxableyear
50235020 68 maybecarriedforwardtoanyofsuchapplicant'stwosubsequenttaxable
50245021 69 years.Taxcreditsallowedunderthissectionmaybeassigned,transferred,
50255022 70 sold,orotherwiseconveyed.
50265023 71 5.Anyqualifiedproperty,forwhichaneligibleapplicantreceivestax
50275024 72 creditsunderthissection,whichceasestosellalternativefuelorrecharge
50285025 73 electricvehiclesshallcausetheforfeitureofsucheligibleapplicant'stax
50295026 74 creditsprovidedunderthissectionforthetaxableyearinwhichthequalified
50305027 75 propertyceasedtosellalternativefuelorrechargeelectricvehiclesandfor
50315028 76 futuretaxableyearswithnorecaptureoftaxcreditsobtainedbyaneligible
50325029 77 applicantwithrespecttosuchapplicant'staxyearswhichendedbeforethesale
50335030 78 ofalternativefuelorrechargingofelectricvehiclesceased.
50345031 79 6.Thedirectorofrevenueshallestablishtheprocedurebywhichthe
50355032 80 taxcreditsinthissectionmaybeclaimed,andshallestablishaprocedureby
5036-81 whichthecumulativeamountoftaxcreditsisapportionedequallyamongall
5033+HCSHB1007 130 81 whichthecumulativeamountoftaxcreditsisapportionedequallyamongall
50375034 82 eligibleapplicantsclaimingthecredit.Tothemaximumextentpossible,the
50385035 83 directorofrevenueshallestablishtheproceduredescribedinthissubsectionin
50395036 84 suchamannerastoensurethateligibleapplicantscanclaimallthetaxcredits
50405037 85 possibleuptothecumulativeamountoftaxcreditsavailableforthetaxable
50415038 86 year.Noeligibleapplicantclaimingataxcreditunderthissectionshallbe
50425039 87 liableforanyinterestorpenaltyforfilingataxreturnafterthedatefixedfor
50435040 88 filingsuchreturnasaresultoftheapportionmentprocedureunderthis
50445041 89 subsection.
50455042 90 7.Anyeligibleapplicantdesiringtoclaimataxcreditunderthis
50465043 91 sectionshallsubmittheappropriateapplicationforsuchcreditwiththe
50475044 92 department.Theapplicationforataxcreditunderthissectionshallinclude
50485045 93 anyinformationrequiredbythedepartment.Thedepartmentshallreviewthe
50495046 94 applicationsandcertifytothedepartmentofrevenueeacheligibleapplicant
50505047 95 thatqualifiesforthetaxcredit.
50515048 96 8.Thedepartmentandthedepartmentofrevenuemaypromulgate
50525049 97 rulestoimplementtheprovisionsofthissection.Anyruleorportionofarule,
50535050 98 asthattermisdefinedinsection536.010,thatiscreatedundertheauthority
50545051 99 delegatedinthissectionshallbecomeeffectiveonlyifitcomplieswithandis
50555052 100 subjecttoalloftheprovisionsofchapter536and,ifapplicable,section
50565053 101 536.028.Thissectionandchapter536arenonseverableandifanyofthe
50575054 102 powersvestedwiththegeneralassemblypursuanttochapter536toreview,to
50585055 103 delaytheeffectivedate,ortodisapproveandannularulearesubsequently
50595056 104 heldunconstitutional,thenthegrantofrulemakingauthorityandanyrule
50605057 105 proposedoradoptedafterAugust28,2008,shallbeinvalidandvoid.
50615058 106 9.Theprovisionsofsection23.253oftheMissourisunsetact
50625059 107 notwithstanding:
50635060 108 (1)Theprovisionsofthenewprogramauthorizedunderthissection
50645061 109 shallautomaticallysunsetthreeyearsafterDecember31,2014,unless
50655062 110 reauthorizedbyanactofthegeneralassembly;and
5066-HCS#2HB1007 131 111 (2)Ifsuchprogramisreauthorized,theprogramauthorizedunderthis
5063+111 (2)Ifsuchprogramisreauthorized,theprogramauthorizedunderthis
50675064 112 sectionshallautomaticallysunsetsixyearsaftertheeffectivedateofthe
50685065 113 reauthorizationofthissection;and
50695066 114 (3)ThissectionshallterminateonDecemberthirty-firstofthe
50705067 115 calendaryearimmediatelyfollowingthecalendaryearinwhichtheprogram
50715068 116 authorizedunderthissectionissunset;and
50725069 117 (4)Theprovisionsofthissubsectionshallnotbeconstruedtolimitor
50735070 118 inanywayimpairthedepartment'sabilitytoredeemtaxcreditsauthorizedon
50745071 119 orbeforethedatetheprogramauthorizedunderthissectionexpiresora
50755072 120 taxpayer'sabilitytoredeemsuchtaxcredits.]
50765073 [135.766.Aneligiblesmallbusiness,asdefinedinSection44ofthe
50775074 2 InternalRevenueCode,shallbeallowedacreditagainstthetaxotherwisedue
50785075 3 pursuanttochapter143,notincludingsections143.191to143.265,inan
50795076 4 amountequaltoanyamountpaidbytheeligiblesmallbusinesstotheUnited
50805077 5 StatesSmallBusinessAdministrationasaguarantyfeepursuanttoobtaining
50815078 6 SmallBusinessAdministrationguaranteedfinancingandtoprograms
50825079 7 administeredbytheUnitedStatesDepartmentofAgricultureforrural
5083-8 developmentorfarmserviceagencies.Notaxcreditsprovidedunderthis
5080+HCSHB1007 131 8 developmentorfarmserviceagencies.Notaxcreditsprovidedunderthis
50845081 9 sectionshallbeauthorizedonorafterthethirtiethdayfollowingtheeffective
50855082 10 dateofthisact.Theprovisionsofthissubsectionshallnotbeconstruedto
50865083 11 limitorinanywayimpairthedepartment'sabilitytoissuetaxcredits
50875084 12 authorizedpriortothethirtiethdayfollowingtheeffectivedateofthisact,ora
50885085 13 taxpayer'sabilitytoredeemsuchtaxcredits.]
50895086 [135.950.Thefollowingterms,wheneverusedinsections135.950to
50905087 2 135.970mean:
50915088 3 (1)"Averagewage",thenewpayrolldividedbythenumberofnew
50925089 4 jobs;
50935090 5 (2)"Blightedarea",thesamemeaningasdefinedpursuanttosection
50945091 6 99.805;
50955092 7 (3)"Board",anenhancedenterprisezoneboardestablishedpursuant
50965093 8 tosection135.957;
50975094 9 (4)"Commencementofcommercialoperations"shallbedeemedto
50985095 10 occurduringthefirsttaxableyearforwhichthenewbusinessfacilityisfirst
50995096 11 putintousebythetaxpayerintheenhancedbusinessenterpriseinwhichthe
51005097 12 taxpayerintendstousethenewbusinessfacility;
51015098 13 (5)"Countyaveragewage",theaveragewagesineachcountyas
51025099 14 determinedbythedepartmentforthemostrecentlycompletedfullcalendar
51035100 15 year.However,ifthecomputedcountyaveragewageisabovethestatewide
51045101 16 averagewage,thestatewideaveragewageshallbedeemedthecountyaverage
51055102 17 wageforsuchcountyforthepurposeofdeterminingeligibility.The
51065103 18 departmentshallpublishthecountyaveragewageforeachcountyatleast
51075104 19 annually.Notwithstandingtheprovisionsofthissubdivisiontothecontrary,
51085105 20 foranytaxpayerthatinconjunctionwiththeirprojectisrelocatingemployees
51095106 21 fromaMissouricountywithahighercountyaveragewage,suchtaxpayer
51105107 22 shallobtaintheendorsementofthegoverningbodyofthecommunityfrom
51115108 23 whichjobsarebeingrelocatedorthecountyaveragewagefortheirproject
5112-HCS#2HB1007 132 24 shallbethecountyaveragewageforthecountyfromwhichtheemployeesare
5109+24 shallbethecountyaveragewageforthecountyfromwhichtheemployeesare
51135110 25 beingrelocated;
51145111 26 (6)"Department",thedepartmentofeconomicdevelopment;
51155112 27 (7)"Director",thedirectorofthedepartmentofeconomic
51165113 28 development;
51175114 29 (8)"Employee",apersonemployedbytheenhancedbusiness
51185115 30 enterprisethatisscheduledtoworkanaverageofatleastonethousandhours
51195116 31 peryear,andsuchpersonatalltimeshashealthinsuranceofferedtohimor
51205117 32 her,whichispartiallypaidforbytheemployer;
51215118 33 (9)"Enhancedbusinessenterprise",anindustryoroneofaclusterof
51225119 34 industriesthatiseither:
51235120 35 (a)Identifiedbythedepartmentascriticaltothestate'seconomic
51245121 36 securityandgrowth;or
51255122 37 (b)Willhaveanimpactonindustryclusterdevelopment,asidentified
51265123 38 bythegoverningauthorityinitsapplicationfordesignationofanenhanced
51275124 39 enterprisezoneandapprovedbythedepartment;butexcludinggambling
51285125 40 establishments(NAICSindustrygroup7132),retailtrade(NAICSsectors44
51295126 41 and45),educationalservices(NAICSsector61),religiousorganizations
5130-42 (NAICSindustrygroup8131),publicadministration(NAICSsector92),and
5127+HCSHB1007 132 42 (NAICSindustrygroup8131),publicadministration(NAICSsector92),and
51315128 43 foodanddrinkingplaces(NAICSsubsector722),however,notwithstanding
51325129 44 provisionsofthissectiontothecontrary,headquartersoradministrative
51335130 45 officesofanotherwiseexcludedbusinessmayqualifyforbenefitsifthe
51345131 46 officesserveamultistateterritory.Intheeventanational,state,orregional
51355132 47 headquartersoperationisnotthepredominantactivityofaprojectfacility,the
51365133 48 newjobsandinvestmentofsuchheadquartersoperationisconsideredeligible
51375134 49 forbenefitsunderthissectioniftheotherrequirementsaresatisfied.Service
51385135 50 industriesmaybeeligibleonlyifamajorityofitsannualrevenueswillbe
51395136 51 derivedfromoutofthestate;
51405137 52 (10)"Existingbusinessfacility",anyfacilityinthisstatewhichwas
51415138 53 employedbythetaxpayerclaimingthecreditintheoperationofanenhanced
51425139 54 businessenterpriseimmediatelypriortoanexpansion,acquisition,addition,or
51435140 55 replacement;
51445141 56 (11)"Facility",anybuildingusedasanenhancedbusinessenterprise
51455142 57 locatedwithinanenhancedenterprisezone,includingthelandonwhichthe
51465143 58 facilityislocatedandallmachinery,equipment,andotherrealanddepreciable
51475144 59 tangiblepersonalpropertyacquiredforuseatandlocatedatorwithinsuch
51485145 60 facilityandusedinconnectionwiththeoperationofsuchfacility;
51495146 61 (12)"Facilitybaseemployment",thegreaterofthenumberof
51505147 62 employeeslocatedatthefacilityonthedateofthenoticeofintent,orforthe
51515148 63 twelve-monthperiodpriortothedateofthenoticeofintent,theaverage
51525149 64 numberofemployeeslocatedatthefacility,orintheeventtheprojectfacility
51535150 65 hasnotbeeninoperationforafulltwelve-monthperiod,theaveragenumber
51545151 66 ofemployeesforthenumberofmonthsthefacilityhasbeeninoperationprior
51555152 67 tothedateofthenoticeofintent;
51565153 68 (13)"Facilitybasepayroll",thetotalamountoftaxablewagespaidby
51575154 69 theenhancedbusinessenterprisetoemployeesoftheenhancedbusiness
51585155 70 enterpriselocatedatthefacilityinthetwelvemonthspriortothenoticeof
51595156 71 intent,notincludingthepayrollofownersoftheenhancedbusinessenterprise
5160-HCS#2HB1007 133 72 unlesstheenhancedbusinessenterpriseisparticipatinginanemployeestock
5157+72 unlesstheenhancedbusinessenterpriseisparticipatinginanemployeestock
51615158 73 ownershipplan.Forthepurposesofcalculatingthebenefitsunderthis
51625159 74 program,theamountofbasepayrollshallincreaseeachyearbasedonthe
51635160 75 consumerpriceindexorothercomparablemeasure,asdeterminedbythe
51645161 76 department;
51655162 77 (14)"Governingauthority",thebodyholdingprimarylegislative
51665163 78 authorityoveracountyorincorporatedmunicipality;
51675164 79 (15)"Megaproject",anymanufacturingorassemblingfacility,
51685165 80 approvedbythedepartmentforconstructionandoperationwithinan
51695166 81 enhancedenterprisezone,whichsatisfiesthefollowing:
51705167 82 (a)Thenewcapitalinvestmentisprojectedtoexceedthreehundred
51715168 83 milliondollarsoveraperiodofeightyearsfromthedateofapprovalbythe
51725169 84 department;
51735170 85 (b)Thenumberofnewjobsisprojectedtoexceedonethousandovera
51745171 86 periodofeightyearsbeginningonthedateofapprovalbythedepartment;
51755172 87 (c)Theaveragewageofnewjobstobecreatedshallexceedthe
51765173 88 countyaveragewage;
5177-89 (d)Thetaxpayershallofferhealthinsurancetoallnewjobsandpayat
5174+HCSHB1007 133 89 (d)Thetaxpayershallofferhealthinsurancetoallnewjobsandpayat
51785175 90 leasteightypercentofsuchinsurancepremiums;and
51795176 91 (e)Anacceptableplanofrepayment,tothestate,ofthetaxcredits
51805177 92 providedforthemegaprojecthasbeenprovidedbythetaxpayer;
51815178 93 (16)"NAICS",the1997editionoftheNorthAmericanIndustry
51825179 94 ClassificationSystemaspreparedbytheExecutiveOfficeofthePresident,
51835180 95 OfficeofManagementandBudget.AnyNAICSsector,subsector,industry
51845181 96 grouporindustryidentifiedinthissectionshallincludeitscorresponding
51855182 97 classificationinsubsequentfederalindustryclassificationsystems;
51865183 98 (17)"Newbusinessfacility",afacilitythatdoesnotproduceor
51875184 99 generateelectricalenergyfromarenewableenergyresourceandsatisfiesthe
51885185 100 followingrequirements:
51895186 101 (a)Suchfacilityisemployedbythetaxpayerintheoperationofan
51905187 102 enhancedbusinessenterprise.Suchfacilityshallnotbeconsideredanew
51915188 103 businessfacilityinthehandsofthetaxpayerifthetaxpayer'sonlyactivitywith
51925189 104 respecttosuchfacilityistoleaseittoanotherpersonorpersons.Ifthe
51935190 105 taxpayeremploysonlyaportionofsuchfacilityintheoperationofan
51945191 106 enhancedbusinessenterprise,andleasesanotherportionofsuchfacilityto
51955192 107 anotherpersonorpersonsordoesnototherwiseusesuchotherportionsinthe
51965193 108 operationofanenhancedbusinessenterprise,theportionemployedbythe
51975194 109 taxpayerintheoperationofanenhancedbusinessenterpriseshallbe
51985195 110 consideredanewbusinessfacility,iftherequirementsofparagraphs(b),(c),
51995196 111 and(d)ofthissubdivisionaresatisfied;
52005197 112 (b)Suchfacilityisacquiredby,orleasedto,thetaxpayerafter
52015198 113 December31,2004.Afacilityshallbedeemedtohavebeenacquiredby,or
52025199 114 leasedto,thetaxpayerafterDecember31,2004,ifthetransferoftitletothe
52035200 115 taxpayer,thetransferofpossessionpursuanttoabindingcontracttotransfer
52045201 116 titletothetaxpayer,orthecommencementofthetermoftheleasetothe
52055202 117 taxpayeroccursafterDecember31,2004;
52065203 118 (c)Ifsuchfacilitywasacquiredbythetaxpayerfromanothertaxpayer
52075204 119 andsuchfacilitywasemployedimmediatelypriortotheacquisitionby
5208-HCS#2HB1007 134 120 anothertaxpayerintheoperationofanenhancedbusinessenterprise,the
5205+120 anothertaxpayerintheoperationofanenhancedbusinessenterprise,the
52095206 121 operationofthesameorasubstantiallysimilarenhancedbusinessenterpriseis
52105207 122 notcontinuedbythetaxpayeratsuchfacility;and
52115208 123 (d)Suchfacilityisnotareplacementbusinessfacility,asdefinedin
52125209 124 subdivision(27)ofthissection;
52135210 125 (18)"Newbusinessfacilityemployee",anemployeeofthetaxpayerin
52145211 126 theoperationofanewbusinessfacilityduringthetaxableyearforwhichthe
52155212 127 creditallowedbysection135.967isclaimed,exceptthattruckdriversandrail
52165213 128 andbargevehicleoperatorsandotheroperatorsofrollingstockforhireshall
52175214 129 notconstitutenewbusinessfacilityemployees;
52185215 130 (19)"Newbusinessfacilityinvestment",thevalueofrealand
52195216 131 depreciabletangiblepersonalproperty,acquiredbythetaxpayeraspartofthe
52205217 132 newbusinessfacility,whichisusedbythetaxpayerintheoperationofthenew
52215218 133 businessfacility,duringthetaxableyearforwhichthecreditallowedby
52225219 134 135.967isclaimed,exceptthattrucks,truck-trailers,trucksemitrailers,rail
52235220 135 vehicles,bargevehicles,aircraftandotherrollingstockforhire,track,
52245221 136 switches,barges,bridges,tunnels,andrailyardsandspursshallnotconstitute
5225-137 newbusinessfacilityinvestments.Thetotalvalueofsuchpropertyduring
5222+HCSHB1007 134 137 newbusinessfacilityinvestments.Thetotalvalueofsuchpropertyduring
52265223 138 suchtaxableyearshallbe:
52275224 139 (a)Itsoriginalcostifownedbythetaxpayer;or
52285225 140 (b)Eighttimesthenetannualrentalrate,ifleasedbythetaxpayer.
52295226 141 Thenetannualrentalrateshallbetheannualrentalratepaidbythetaxpayer
52305227 142 lessanyannualrentalratereceivedbythetaxpayerfromsubrentals.Thenew
52315228 143 businessfacilityinvestmentshallbedeterminedbydividingbytwelvethesum
52325229 144 ofthetotalvalueofsuchpropertyonthelastbusinessdayofeachcalendar
52335230 145 monthofthetaxableyear.Ifthenewbusinessfacilityisinoperationforless
52345231 146 thananentiretaxableyear,thenewbusinessfacilityinvestmentshallbe
52355232 147 determinedbydividingthesumofthetotalvalueofsuchpropertyonthelast
52365233 148 businessdayofeachfullcalendarmonthduringtheportionofsuchtaxable
52375234 149 yearduringwhichthenewbusinessfacilitywasinoperationbythenumberof
52385235 150 fullcalendarmonthsduringsuchperiod;
52395236 151 (20)"Newjob",thenumberofemployeeslocatedatthefacilitythat
52405237 152 exceedsthefacilitybaseemploymentlessanydecreaseinthenumberofthe
52415238 153 employeesatrelatedfacilitiesbelowtherelatedfacilitybaseemployment.No
52425239 154 jobthatwascreatedpriortothedateofthenoticeofintentshallbedeemeda
52435240 155 newjob;
52445241 156 (21)"Noticeofintent",aformdevelopedbythedepartmentwhichis
52455242 157 completedbytheenhancedbusinessenterpriseandsubmittedtothe
52465243 158 departmentwhichstatestheenhancedbusinessenterprise'sintenttohire
52475244 159 newjobsandrequestbenefitsundersuchprogram;
52485245 160 (22)"Relatedfacility",afacilityoperatedbytheenhancedbusiness
52495246 161 enterpriseorarelatedcompanyinthisstatethatisdirectlyrelatedtothe
52505247 162 operationoftheprojectfacility;
52515248 163 (23)"Relatedfacilitybaseemployment",thegreaterof:
52525249 164 (a)Thenumberofemployeeslocatedatallrelatedfacilitiesonthe
52535250 165 dateofthenoticeofintent;or
5254-HCS#2HB1007 135 166 (b)Forthetwelve-monthperiodpriortothedateofthenoticeof
5251+166 (b)Forthetwelve-monthperiodpriortothedateofthenoticeof
52555252 167 intent,theaveragenumberofemployeeslocatedatallrelatedfacilitiesofthe
52565253 168 enhancedbusinessenterpriseorarelatedcompanylocatedinthisstate;
52575254 169 (24)"Relatedtaxpayer":
52585255 170 (a)Acorporation,partnership,trust,orassociationcontrolledbythe
52595256 171 taxpayer;
52605257 172 (b)Anindividual,corporation,partnership,trust,orassociationin
52615258 173 controlofthetaxpayer;or
52625259 174 (c)Acorporation,partnership,trustorassociationcontrolledbyan
52635260 175 individual,corporation,partnership,trustorassociationincontrolofthe
52645261 176 taxpayer."Controlofacorporation"shallmeanownership,directlyor
52655262 177 indirectly,ofstockpossessingatleastfiftypercentofthetotalcombined
52665263 178 votingpowerofallclassesofstockentitledtovote,"controlofapartnershipor
52675264 179 association"shallmeanownershipofatleastfiftypercentofthecapitalor
52685265 180 profitsinterestinsuchpartnershiporassociation,and"controlofatrust"shall
52695266 181 meanownership,directlyorindirectly,ofatleastfiftypercentofthebeneficial
52705267 182 interestintheprincipalorincomeofsuchtrust;ownershipshallbedetermined
52715268 183 asprovidedinSection318oftheInternalRevenueCodeof1986,asamended;
5272-184 (25)"Renewableenergygenerationzone",anareawhichhasbeen
5269+HCSHB1007 135 184 (25)"Renewableenergygenerationzone",anareawhichhasbeen
52735270 185 found,byaresolutionorordinanceadoptedbythegoverningauthorityhaving
52745271 186 jurisdictionofsucharea,tobeablightedareaandwhichcontainsland,
52755272 187 improvements,oralockanddamsitewhichisunutilizedorunderutilizedfor
52765273 188 theproduction,generation,conversion,andconveyanceofelectricalenergy
52775274 189 fromarenewableenergyresource;
52785275 190 (26)"Renewableenergyresource",shallinclude:
52795276 191 (a)Wind;
52805277 192 (b)Solarthermalsourcesorphotovoltaiccellsandpanels;
52815278 193 (c)Dedicatedcropsgrownforenergyproduction;
52825279 194 (d)Cellulosicagriculturalresidues;
52835280 195 (e)Plantresidues;
52845281 196 (f)Methanefromlandfills,agriculturaloperations,orwastewater
52855282 197 treatment;
52865283 198 (g)Thermaldepolymerizationorpyrolysisforconvertingwaste
52875284 199 materialtoenergy;
52885285 200 (h)Cleananduntreatedwoodsuchaspallets;
52895286 201 (i)Hydroelectricpower,whichshallincludeelectricalenergy
52905287 202 producedorgeneratedbyhydroelectricpowergeneratingequipment,as
52915288 203 suchtermisdefinedinsection137.010;
52925289 204 (j)Fuelcellsusinghydrogenproducedbyoneormoreofthe
52935290 205 renewableresourcesprovidedinparagraphs(a)to(i)ofthissubdivision;or
52945291 206 (k)Anyothersourcesofenergy,notincludingnuclearenergy,thatare
52955292 207 certifiedasrenewablebyrulebythedepartmentofeconomicdevelopment;
52965293 208 (27)"Replacementbusinessfacility",afacilityotherwisedescribedin
52975294 209 subdivision(17)ofthissection,hereafterreferredtointhissubdivisionas
52985295 210 "newfacility",whichreplacesanotherfacility,hereafterreferredtointhis
52995296 211 subdivisionas"oldfacility",locatedwithinthestate,whichthetaxpayerora
53005297 212 relatedtaxpayerpreviouslyoperatedbutdiscontinuedoperatingonorbefore
53015298 213 thecloseofthefirsttaxableyearforwhichthecreditallowedbythissectionis
5302-HCS#2HB1007 136 214 claimed.Anewfacilityshallbedeemedtoreplaceanoldfacilityifthe
5299+214 claimed.Anewfacilityshallbedeemedtoreplaceanoldfacilityifthe
53035300 215 followingconditionsaremet:
53045301 216 (a)Theoldfacilitywasoperatedbythetaxpayerorarelatedtaxpayer
53055302 217 duringthetaxpayer'sorrelatedtaxpayer'staxableperiodimmediately
53065303 218 precedingthetaxableyearinwhichcommencementofcommercial
53075304 219 operationsoccursatthenewfacility;and
53085305 220 (b)Theoldfacilitywasemployedbythetaxpayerorarelatedtaxpayer
53095306 221 intheoperationofanenhancedbusinessenterpriseandthetaxpayercontinues
53105307 222 theoperationofthesameorsubstantiallysimilarenhancedbusinessenterprise
53115308 223 atthenewfacility.Notwithstandingtheprecedingprovisionsofthis
53125309 224 subdivision,afacilityshallnotbeconsideredareplacementbusinessfacilityif
53135310 225 thetaxpayer'snewbusinessfacilityinvestment,ascomputedinsubdivision
53145311 226 (19)ofthissection,inthenewfacilityduringthetaxperiodforwhichthe
53155312 227 creditsallowedinsection135.967areclaimedexceedonemilliondollarsand
53165313 228 ifthetotalnumberofemployeesatthenewfacilityexceedsthetotalnumber
53175314 229 ofemployeesattheoldfacilitybyatleasttwo;
53185315 230 (28)"Sameorsubstantiallysimilarenhancedbusinessenterprise",an
53195316 231 enhancedbusinessenterpriseinwhichthenatureoftheproductsproducedor
5320-232 sold,oractivitiesconducted,aresimilarincharacteranduseorareproduced,
5317+HCSHB1007 136 232 sold,oractivitiesconducted,aresimilarincharacteranduseorareproduced,
53215318 233 sold,performed,orconductedinthesameorsimilarmannerasinanother
53225319 234 enhancedbusinessenterprise.]
53235320 [135.953.1.Forpurposesofsections135.950to135.970,anarea
53245321 2 shallmeetthefollowingcriteriainordertoqualifyasanenhancedenterprise
53255322 3 zone:
53265323 4 (1)Theareashallbeablightedarea,havepervasivepoverty,
53275324 5 unemploymentandgeneraldistress;and
53285325 6 (2)Atleastsixtypercentoftheresidentslivingintheareahave
53295326 7 incomesbelowninetypercentofthemedianincomeofallresidents:
53305327 8 (a)WithinthestateofMissouri,accordingtothelastdecennialcensus
53315328 9 orotherappropriatesourceasapprovedbythedirector;or
53325329 10 (b)Withinthecountyorcitynotwithinacountyinwhichtheareais
53335330 11 located,accordingtothelastdecennialcensusorotherappropriatesourceas
53345331 12 approvedbythedirector;and
53355332 13 (3)Theresidentpopulationoftheareashallbeatleastfivehundred
53365333 14 butnotmorethanonehundredthousandatthetimeofdesignationasan
53375334 15 enhancedenterprisezoneifthearealieswithinametropolitanstatisticalarea,
53385335 16 asestablishedbytheUnitedStatesCensusBureau,oriftheareadoesnotlie
53395336 17 withinametropolitanstatisticalarea,theresidentpopulationoftheareaatthe
53405337 18 timeofdesignationshallbeatleastfivehundredbutnotmorethanforty
53415338 19 thousandinhabitants.Ifthepopulationofthejurisdictionofthegoverning
53425339 20 authoritydoesnotmeettheminimumpopulationrequirementssetforthinthis
53435340 21 subdivision,thepopulationoftheareamustbeatleastfiftypercentofthe
53445341 22 populationofthejurisdiction.However,noenhancedenterprisezoneshallbe
53455342 23 createdwhichconsistsofthetotalareawithinthepoliticalboundariesofa
53465343 24 county;
53475344 25 (4)Thelevelofunemploymentofpersons,accordingtothemost
53485345 26 recentdataavailablefromtheUnitedStatesBureauofCensusandapproved
5349-HCS#2HB1007 137 27 bythedirector,withintheareaisequaltoorexceedstheaveragerateof
5346+27 bythedirector,withintheareaisequaltoorexceedstheaveragerateof
53505347 28 unemploymentfor:
53515348 29 (a)ThestateofMissouriovertheprevioustwelvemonths;or
53525349 30 (b)Thecountyorcitynotwithinacountyovertheprevioustwelve
53535350 31 months;and
53545351 32 (5)Nofindingofblightunderthischaptershallbeusedtomeetthe
53555352 33 conditionsforblightunderanyotherstatuteofthisstate.
53565353 34 2.Notwithstandingtherequirementsofsubsection1ofthissectionto
53575354 35 thecontrary,anenhancedenterprisezonemaybeestablishedinanarealocated
53585355 36 withinacountyforwhichpublicandindividualassistancehasbeenrequested
53595356 37 bythegovernorpursuanttoSection401oftheRobertT.StaffordDisaster
53605357 38 ReliefandEmergencyAssistanceAct,42U.S.C.5121,etseq.,foran
53615358 39 emergencyproclaimedbythegovernorpursuanttosection44.100duetoa
53625359 40 naturaldisasterofmajorproportions,iftheareatobedesignatedisblighted
53635360 41 andsustainedseveredamageasaresultofsuchnaturaldisaster,asdetermined
53645361 42 bythestateemergencymanagementagency.Anapplicationfordesignationas
53655362 43 anenhancedenterprisezonepursuanttothissubsectionshallbemadebefore
5366-44 theexpirationofoneyearfromthedatethegovernorrequestedfederalrelief
5363+HCSHB1007 137 44 theexpirationofoneyearfromthedatethegovernorrequestedfederalrelief
53675364 45 fortheareasoughttobedesignated.
53685365 46 3.Notwithstandingtherequirementsofsubsection1ofthissectionto
53695366 47 thecontrary,anenhancedenterprisezonemaybedesignatedinacountyof
53705367 48 decliningpopulationifitmeetstherequirementsofsubdivisions(1),(3)and
53715368 49 either(2)or(4)ofsubsection1ofthissection.Forthepurposesofthis
53725369 50 subsection,a"countyofdecliningpopulation"isonethathaslostonepercent
53735370 51 ormoreofitspopulationasdemonstratedbycomparingthemostrecent
53745371 52 decennialcensuspopulationtothenextmostrecentdecennialcensus
53755372 53 populationforthecounty.
53765373 54 4.Inadditiontomeetingtherequirementsofsubsection1,2,or3of
53775374 55 thissection,anarea,toqualifyasanenhancedenterprisezone,shallbe
53785375 56 demonstratedbythegoverningauthoritytohaveeither:
53795376 57 (1)Thepotentialtocreatesustainablejobsinatargetedindustry;or
53805377 58 (2)Ademonstratedimpactonlocalindustryclusterdevelopment.
53815378 59 5.Notwithstandingtherequirementsofsubsections1and4ofthis
53825379 60 sectiontothecontrary,arenewableenergygenerationzonemaybedesignated
53835380 61 asanenhancedenterprisezoneiftherenewableenergygenerationzonemeets
53845381 62 thecriteriasetforthinsubdivision(25)ofsection135.950.]
53855382 [135.957.1.Agoverningauthorityplanningtoseekdesignationofan
53865383 2 enhancedenterprisezoneshallestablishanenhancedenterprisezoneboard.
53875384 3 Thenumberofmembersontheboardshallbeseven.Onememberofthe
53885385 4 boardshallbeappointedbytheschooldistrictordistrictslocatedwithinthe
53895386 5 areaproposedfordesignationasanenhancedenterprisezone.Onememberof
53905387 6 theboardshallbeappointedbyotheraffectedtaxingdistricts.Theremaining
53915388 7 fivemembersshallbechosenbythechiefelectedofficialofthecountyor
53925389 8 municipality.
53935390 9 2.Theschooldistrictmemberandtheaffectedtaxingdistrictmember
53945391 10 shalleachhaveinitialtermsoffiveyears.Ofthefivemembersappointedby
53955392 11 thechiefelectedofficial,twoshallhaveinitialtermsoffouryears,twoshall
5396-HCS#2HB1007 138 12 haveinitialtermsofthreeyears,andoneshallhaveaninitialtermoftwo
5393+12 haveinitialtermsofthreeyears,andoneshallhaveaninitialtermoftwo
53975394 13 years.Thereafter,membersshallservetermsoffiveyears.Each
53985395 14 commissionershallholdofficeuntilasuccessorhasbeenappointed.All
53995396 15 vacanciesshallbefilledinthesamemannerastheoriginalappointment.For
54005397 16 inefficiencyorneglectofdutyormisconductinoffice,amemberoftheboard
54015398 17 mayberemovedbytheapplicableappointingauthority.
54025399 18 3.Amajorityofthemembersshallconstituteaquorumofsuchboard
54035400 19 forthepurposeofconductingbusinessandexercisingthepowersoftheboard
54045401 20 andforallotherpurposes.Actionmaybetakenbytheboarduponavoteofa
54055402 21 majorityofthememberspresent.
54065403 22 4.Themembersoftheboardannuallyshallelectachairfromamong
54075404 23 themembers.
54085405 24 5.Theroleoftheboardshallbetoconducttheactivitiesnecessaryto
54095406 25 advisethegoverningauthorityonthedesignationofanenhancedenterprise
54105407 26 zoneandanyotheradvisorydutiesasdeterminedbythegoverningauthority.
54115408 27 Theroleoftheboardafterthedesignationofanenhancedenterprisezoneshall
5412-28 bereviewandassessmentofzoneactivitiesasitrelatestotheannualreportsas
5409+HCSHB1007 138 28 bereviewandassessmentofzoneactivitiesasitrelatestotheannualreportsas
54135410 29 setforthinsection135.960.]
54145411 [135.960.1.Anygoverningauthoritythatdesirestohaveanyportion
54155412 2 ofacityorunincorporatedareaofacountyunderitscontroldesignatedasan
54165413 3 enhancedenterprisezoneshallholdapublichearingforthepurposeof
54175414 4 obtainingtheopinionandsuggestionsofthosepersonswhowillbeaffectedby
54185415 5 suchdesignation.
54195416 6 2.Afterapublichearingisheldasrequiredinsubsection1ofthis
54205417 7 section,thegoverningauthoritymay,byamajorityvoteofthemembersofthe
54215418 8 governingauthority,adoptanordinanceorresolutiondesignatingaspecific
54225419 9 areaasanenhancedenterprisezone.Suchordinanceshallinclude,inaddition
54235420 10 toadescriptionofthephysical,social,andeconomiccharacteristicsofthe
54245421 11 area:
54255422 12 (1)Aplantoprovideadequatepoliceprotectionwithinthearea;
54265423 13 (2)Aspecificandpracticalprocessforindividualbusinessestoobtain
54275424 14 waiversfromburdensomelocalregulations,ordinances,andorderswhich
54285425 15 servetodiscourageeconomicdevelopmentwithintheareatobedesignatedan
54295426 16 enhancedenterprisezone,exceptthatsuchwaiversshallnotsubstantially
54305427 17 endangerthehealthorsafetyoftheemployeesofanysuchbusinessorthe
54315428 18 residentsofthearea;
54325429 19 (3)Adescriptionofwhatotherspecificactionswillbetakento
54335430 20 supportandencourageprivateinvestmentwithinthearea;
54345431 21 (4)Aplantoensurethatresourcesareavailabletoassistarearesidents
54355432 22 toparticipateinincreaseddevelopmentthroughself-helpeffortsandin
54365433 23 amelioratinganynegativeeffectsofdesignationoftheareaasanenhanced
54375434 24 enterprisezone;
54385435 25 (5)Astatementdescribingtheprojectedpositiveandnegativeeffects
54395436 26 ofdesignationoftheareaasanenhancedenterprisezone;
54405437 27 (6)Aspecificplantoprovideassistancetoanypersonorbusiness
54415438 28 dislocatedasaresultofactivitieswithintheenhancedenterprisezone.Such
54425439 29 planshalldeterminetheneedofdislocatedpersonsforrelocationassistance;
5443-HCS#2HB1007 139 30 provide,priortodisplacement,informationaboutthetype,location,andprice
5440+30 provide,priortodisplacement,informationaboutthetype,location,andprice
54445441 31 ofcomparablehousingorcommercialproperty;provideinformation
54455442 32 concerningstateandfederalprogramsforrelocationassistanceandprovide
54465443 33 otheradvisoryservicestodisplacedpersons.Publicagenciesmaychooseto
54475444 34 provideassistanceundertheUniformRelocationandRealProperty
54485445 35 AcquisitionAct,42U.S.C.Section4601,etseq.,tomeettherequirements
54495446 36 ofthissubdivision;and
54505447 37 (7)Adescriptionorplanthatdemonstratestherequirementsof
54515448 38 subsection4ofsection135.953.
54525449 39 3.Anenhancedenterprisezonedesignationshallexpireintwenty-five
54535450 40 years.
54545451 41 4.Eachdesignatedenhancedenterprisezoneboardshallreporttothe
54555452 42 directoronanannualbasisregardingthestatusofthezoneandbusiness
54565453 43 activitywithinthezone.]
5457-[135.963.1.Improvementsmadetorealpropertyassuchtermis
5454+HCSHB1007 139 [135.963.1.Improvementsmadetorealpropertyassuchtermis
54585455 2 definedinsection137.010whicharemadeinanenhancedenterprisezone
54595456 3 subsequenttothedatesuchzoneorexpansiontheretowasdesignatedmay,
54605457 4 uponapprovalofanauthorizingresolutionorordinancebythegoverning
54615458 5 authorityhavingjurisdictionoftheareainwhichtheimprovementsaremade,
54625459 6 beexempt,inwholeorinpart,fromassessmentandpaymentofadvalorem
54635460 7 taxesofoneormoreaffectedpoliticalsubdivisions.Improvementsmadeto
54645461 8 realproperty,assuchtermisdefinedinsection137.010,whicharelocally
54655462 9 assessedandinarenewableenergygenerationzonedesignatedasanenhanced
54665463 10 enterprisezone,subsequenttothedatesuchenhancedenterprisezoneor
54675464 11 expansiontheretowasdesignated,may,uponapprovalofanauthorizing
54685465 12 resolutionorordinancebythegoverningauthorityhavingjurisdictionofthe
54695466 13 areainwhichtheimprovementsaremade,beexempt,inwholeorinpart,from
54705467 14 assessmentandpaymentofadvaloremtaxesofoneormoreaffectedpolitical
54715468 15 subdivisions.Inadditiontoenhancedbusinessenterprises,aspeculative
54725469 16 industrialorwarehousebuildingconstructedbyapublicentityoraprivate
54735470 17 entityifthelandisleasedbyapublicentitymaybesubjecttosuchexemption.
54745471 18 2.Suchauthorizingresolutionshallspecifythepercentofthe
54755472 19 exemptiontobegranted,thedurationoftheexemptiontobegranted,andthe
54765473 20 politicalsubdivisionstowhichsuchexemptionistoapplyandanyotherterms,
54775474 21 conditions,orstipulationsotherwiserequired.Acopyoftheresolutionshall
54785475 22 beprovidedtothedirectorwithinthirtycalendardaysfollowingadoptionof
54795476 23 theresolutionbythegoverningauthority.
54805477 24 3.Noexemptionshallbegranteduntilthegoverningauthorityholdsa
54815478 25 publichearingforthepurposeofobtainingtheopinionsandsuggestionsof
54825479 26 residentsofpoliticalsubdivisionstobeaffectedbytheexemptionfrom
54835480 27 propertytaxes.Thegoverningauthorityshallsend,bycertifiedmail,anotice
54845481 28 ofsuchhearingtoeachpoliticalsubdivisionintheareatobeaffectedandshall
54855482 29 publishnoticeofsuchhearinginanewspaperofgeneralcirculationinthearea
54865483 30 tobeaffectedbytheexemptionatleasttwentydayspriortothehearingbutnot
54875484 31 morethanthirtydayspriortothehearing.Suchnoticeshallstatethetime,
54885485 32 location,date,andpurposeofthehearing.
5489-HCS#2HB1007 140 33 4.Notwithstandingsubsection1ofthissection,atleastone-halfofthe
5486+33 4.Notwithstandingsubsection1ofthissection,atleastone-halfofthe
54905487 34 advaloremtaxesotherwiseimposedonsubsequentimprovementstoreal
54915488 35 propertylocatedinanenhancedenterprisezoneofenhancedbusiness
54925489 36 enterprisesorspeculativeindustrialorwarehousebuildingsasindicatedin
54935490 37 subsection1ofthissectionshallbecomeandremainexemptfromassessment
54945491 38 andpaymentofadvaloremtaxesofanypoliticalsubdivisionofthisstateor
54955492 39 municipalitythereof,ifsaidpoliticalsubdivisionormunicipalityleviesad
54965493 40 valoremtaxes,foraperiodofnotlessthantenyearsfollowingthedatesuch
54975494 41 improvementswereassessed,providedtheimprovedpropertiesareusedfor
54985495 42 enhancedbusinessenterprises.Theexemptionforspeculativebuildingsis
54995496 43 subjecttotheapprovalofthegoverningauthorityforaperiodnottoexceed
55005497 44 twoyearsifthebuildingisownedbyaprivateentityandfiveyearsifthe
55015498 45 buildingisownedorgroundleasedbyapublicentity.Thisshallnotpreclude
55025499 46 thebuildingreceivinganexemptionfortheremainingtimeperiodestablished
55035500 47 bythegoverningauthorityifitwasoccupiedbyanenhancedbusiness
55045501 48 enterprise.Thetwo-andfive-yeartimeperiodsindicatedforspeculative
5505-49 buildingsshallnotbeanadditiontothelocalabatementtimeperiodforsuch
5502+HCSHB1007 140 49 buildingsshallnotbeanadditiontothelocalabatementtimeperiodforsuch
55065503 50 facility.
55075504 51 5.Noexemptionshallbegrantedforaperiodmorethantwenty-five
55085505 52 years,provided,however,thatduringthetenyearspriortotheexpirationofan
55095506 53 enhancedenterprisezonenoexemptionshallbegrantedforaperiodofmore
55105507 54 thantenyears.
55115508 55 6.Theprovisionsofsubsection1ofthissectionshallnotapplyto
55125509 56 improvementsmadetorealpropertybegunpriortoAugust28,2004.
55135510 57 7.Theabatementreferredtointhissectionshallnotrelievethe
55145511 58 assessororotherresponsibleofficialfromascertainingtheamountofthe
55155512 59 equalizedassessedvalueofalltaxablepropertyannuallyasrequiredbysection
55165513 60 99.855,99.957,or99.1042andshallnothavetheeffectofreducingthe
55175514 61 paymentsinlieuoftaxesreferredtoinsubdivision(2)ofsubsection1of
55185515 62 section99.845,subdivision(2)ofsubsection3ofsection99.957,or
55195516 63 subdivision(2)ofsubsection3ofsection99.1042unlesssuchreductionis
55205517 64 setforthintheplanapprovedbythegoverningbodyofthemunicipality
55215518 65 pursuanttosubdivision(1)ofsubsection1ofsection99.820,section99.942,
55225519 66 orsection99.1027.]
55235520 [135.967.1.Ataxpayerwhoestablishesanewbusinessfacilitymay,
55245521 2 uponapprovalbythedepartment,beallowedacredit,eachtaxyearforupto
55255522 3 tentaxyears,inanamountdeterminedassetforthinthissection,againstthe
55265523 4 taximposedbychapter143,excludingwithholdingtaximposedbysections
55275524 5 143.191to143.265.Notaxpayershallreceivemultipleten-yearperiodsfor
55285525 6 subsequentexpansionsatthesamefacility.
55295526 7 2.Notwithstandinganyprovisionoflawtothecontrary,anytaxpayer
55305527 8 whoestablishesanewbusinessfacilityinanenhancedenterprisezoneandis
55315528 9 awardedstatetaxcreditsunderthissectionmaynotalsoreceivetaxcredits
55325529 10 undersections135.100to135.150,sections135.200to135.286,orsection
55335530 11 135.535,andmaynotsimultaneouslyreceivetaxcreditsundersections
55345531 12 620.1875to620.1890atthesamefacility.
55355532 13 3.Nocreditshallbeissuedpursuanttothissectionunless:
5536-HCS#2HB1007 141 14 (1)Thenumberofnewbusinessfacilityemployeesengagedor
5533+14 (1)Thenumberofnewbusinessfacilityemployeesengagedor
55375534 15 maintainedinemploymentatthenewbusinessfacilityforthetaxableyearfor
55385535 16 whichthecreditisclaimedequalsorexceedstwo;and
55395536 17 (2)Thenewbusinessfacilityinvestmentforthetaxableyearforwhich
55405537 18 thecreditisclaimedequalsorexceedsonehundredthousanddollars.
55415538 19 4.Theannualamountofcreditsallowedforanapprovedenhanced
55425539 20 businessenterpriseshallbethelesserof:
55435540 21 (1)Theannualamountauthorizedbythedepartmentfortheenhanced
55445541 22 businessenterprise,whichshallbelimitedtotheprojectedstateeconomic
55455542 23 benefit,asdeterminedbythedepartment;or
55465543 24 (2)Thesumcalculatedbaseduponthefollowing:
55475544 25 (a)Acreditoffourhundreddollarsforeachnewbusinessfacility
55485545 26 employeeemployedwithinanenhancedenterprisezone;
55495546 27 (b)Anadditionalcreditoffourhundreddollarsforeachnewbusiness
55505547 28 facilityemployeewhoisaresidentofanenhancedenterprisezone;
5551-29 (c)Anadditionalcreditoffourhundreddollarsforeachnewbusiness
5548+HCSHB1007 141 29 (c)Anadditionalcreditoffourhundreddollarsforeachnewbusiness
55525549 30 facilityemployeewhoispaidbytheenhancedbusinessenterpriseawagethat
55535550 31 exceedstheaveragewagepaidwithinthecountyinwhichthefacilityis
55545551 32 located,asdeterminedbythedepartment;and
55555552 33 (d)Acreditequaltotwopercentofnewbusinessfacilityinvestment
55565553 34 withinanenhancedenterprisezone.
55575554 35 5.PriortoJanuary1,2007,innoeventshallthedepartmentauthorize
55585555 36 morethanfourmilliondollarsannuallytobeissuedforallenhancedbusiness
55595556 37 enterprises.AfterDecember31,2006,innoeventshallthedepartment
55605557 38 authorizemorethantwenty-fourmilliondollarsannuallytobeissuedforall
55615558 39 enhancedbusinessenterprises.
55625559 40 6.Ifafacility,whichdoesnotconstituteanewbusinessfacility,is
55635560 41 expandedbythetaxpayer,theexpansionshallbeconsideredeligibleforthe
55645561 42 creditallowedbythissectionif:
55655562 43 (1)Thetaxpayer'snewbusinessfacilityinvestmentintheexpansion
55665563 44 duringthetaxperiodinwhichthecreditsallowedinthissectionareclaimed
55675564 45 exceedsonehundredthousanddollarsandifthenumberofnewbusiness
55685565 46 facilityemployeesengagedormaintainedinemploymentattheexpansion
55695566 47 facilityforthetaxableyearforwhichcreditisclaimedequalsorexceedstwo,
55705567 48 andthetotalnumberofemployeesatthefacilityaftertheexpansionisatleast
55715568 49 twogreaterthanthetotalnumberofemployeesbeforetheexpansion;and
55725569 50 (2)Thetaxpayer'sinvestmentintheexpansionandintheoriginal
55735570 51 facilitypriortoexpansionshallbedeterminedinthemannerprovidedin
55745571 52 subdivision(19)ofsection135.950.
55755572 53 7.Thenumberofnewbusinessfacilityemployeesduringanytaxable
55765573 54 yearshallbedeterminedbydividingbytwelvethesumofthenumberof
55775574 55 individualsemployedonthelastbusinessdayofeachmonthofsuchtaxable
55785575 56 year.Ifthenewbusinessfacilityisinoperationforlessthantheentiretaxable
55795576 57 year,thenumberofnewbusinessfacilityemployeesshallbedeterminedby
55805577 58 dividingthesumofthenumberofindividualsemployedonthelastbusiness
55815578 59 dayofeachfullcalendarmonthduringtheportionofsuchtaxableyearduring
55825579 60 whichthenewbusinessfacilitywasinoperationbythenumberoffull
55835580 61 calendarmonthsduringsuchperiod.Forthepurposeofcomputingthecredit
5584-HCS#2HB1007 142 62 allowedbythissectioninthecaseofafacilitywhichqualifiesasanew
5581+62 allowedbythissectioninthecaseofafacilitywhichqualifiesasanew
55855582 63 businessfacilityundersubsection6ofthissection,andinthecaseofanew
55865583 64 businessfacilitywhichsatisfiestherequirementsofparagraph(c)of
55875584 65 subdivision(17)ofsection135.950,orsubdivision(25)ofsection135.950,
55885585 66 thenumberofnewbusinessfacilityemployeesatsuchfacilityshallbereduced
55895586 67 bytheaveragenumberofindividualsemployed,computedasprovidedinthis
55905587 68 subsection,atthefacilityduringthetaxableyearimmediatelyprecedingthe
55915588 69 taxableyearinwhichsuchexpansion,acquisition,orreplacementoccurred
55925589 70 andshallfurtherbereducedbythenumberofindividualsemployedbythe
55935590 71 taxpayerorrelatedtaxpayerthatwassubsequentlytransferredtothenew
55945591 72 businessfacilityfromanotherMissourifacilityandforwhichcredits
55955592 73 authorizedinthissectionarenotbeingearned,whethersuchcreditsare
55965593 74 earnedbecauseofanexpansion,acquisition,relocation,ortheestablishment
55975594 75 ofanewfacility.
5598-76 8.Inthecasewhereanewbusinessfacilityemployeewhoisaresident
5595+HCSHB1007 142 76 8.Inthecasewhereanewbusinessfacilityemployeewhoisaresident
55995596 77 ofanenhancedenterprisezoneforlessthanatwelve-monthperiodis
56005597 78 employedforlessthanatwelve-monthperiod,thecreditsallowedby
56015598 79 paragraph(b)ofsubdivision(2)ofsubsection4ofthissectionshallbe
56025599 80 determinedbymultiplyingfourhundreddollarsbyafraction,thenumeratorof
56035600 81 whichisthenumberofcalendardaysduringthetaxpayer'staxyearforwhich
56045601 82 suchcreditsareclaimed,inwhichtheemployeewasaresidentofanenhanced
56055602 83 enterprisezone,andthedenominatorofwhichisthreehundredsixty-five.
56065603 84 9.Forthepurposeofcomputingthecreditallowedbythissectionin
56075604 85 thecaseofafacilitywhichqualifiesasanewbusinessfacilitypursuantto
56085605 86 subsection6ofthissection,andinthecaseofanewbusinessfacilitywhich
56095606 87 satisfiestherequirementsofparagraph(c)ofsubdivision(17)ofsection
56105607 88 135.950orsubdivision(25)ofsection135.950,theamountofthetaxpayer's
56115608 89 newbusinessfacilityinvestmentinsuchfacilityshallbereducedbythe
56125609 90 averageamount,computedasprovidedinsubdivision(19)ofsection135.950
56135610 91 fornewbusinessfacilityinvestment,oftheinvestmentofthetaxpayer,or
56145611 92 relatedtaxpayerimmediatelyprecedingsuchexpansionorreplacementorat
56155612 93 thetimeofacquisition.Furthermore,theamountofthetaxpayer'snew
56165613 94 businessfacilityinvestmentshallalsobereducedbytheamountofinvestment
56175614 95 employedbythetaxpayerorrelatedtaxpayerwhichwassubsequently
56185615 96 transferredtothenewbusinessfacilityfromanotherMissourifacilityandfor
56195616 97 whichcreditsauthorizedinthissectionarenotbeingearned,whethersuch
56205617 98 creditsareearnedbecauseofanexpansion,acquisition,relocation,orthe
56215618 99 establishmentofanewfacility.
56225619 100 10.Forataxpayerwithflow-throughtaxtreatmenttoitsmembers,
56235620 101 partners,orshareholders,thecreditshallbeallowedtomembers,partners,or
56245621 102 shareholdersinproportiontotheirshareofownershiponthelastdayofthe
56255622 103 taxpayer'staxperiod.
56265623 104 11.Creditsmaynotbecarriedforwardbutshallbeclaimedforthe
56275624 105 taxableyearduringwhichcommencementofcommercialoperationsoccursat
56285625 106 suchnewbusinessfacility,andforeachoftheninesucceedingtaxableyears
56295626 107 forwhichthecreditisissued.
56305627 108 12.Certificatesoftaxcreditauthorizedbythissectionmaybe
56315628 109 transferred,sold,orassignedbyfilinganotarizedendorsementthereofwith
5632-HCS#2HB1007 143 110 thedepartmentthatnamesthetransferee,theamountoftaxcredittransferred,
5629+110 thedepartmentthatnamesthetransferee,theamountoftaxcredittransferred,
56335630 111 andthevaluereceivedforthecredit,aswellasanyotherinformation
56345631 112 reasonablyrequestedbythedepartment.Thesalepricecannotbelessthan
56355632 113 seventy-fivepercentoftheparvalueofsuchcredits.
56365633 114 13.Thedirectorofrevenueshallissuearefundtothetaxpayertothe
56375634 115 extentthattheamountofcreditsallowedinthissectionexceedstheamountof
56385635 116 thetaxpayer'sincometax.
56395636 117 14.Priortotheissuanceoftaxcredits,thedepartmentshallverify
56405637 118 throughthedepartmentofrevenue,oranyotherstatedepartment,thatthetax
56415638 119 creditapplicantdoesnotoweanydelinquentincome,sales,orusetaxor
56425639 120 interestorpenaltiesonsuchtaxes,oranydelinquentfeesorassessmentslevied
56435640 121 byanystatedepartmentandthroughthedepartmentofcommerceand
56445641 122 insurancethattheapplicantdoesnotoweanydelinquentinsurancetaxes.
56455642 123 Suchdelinquencyshallnotaffecttheauthorizationoftheapplicationforsuch
5646-124 taxcredits,exceptthattheamountofcreditsissuedshallbereducedbythe
5643+HCSHB1007 143 124 taxcredits,exceptthattheamountofcreditsissuedshallbereducedbythe
56475644 125 applicant'staxdelinquency.Ifthedepartmentofrevenueorthedepartmentof
56485645 126 commerceandinsurance,oranyotherstatedepartment,concludesthata
56495646 127 taxpayerisdelinquentafterJunefifteenthbutbeforeJulyfirstofanyyearand
56505647 128 theapplicationoftaxcreditstosuchdelinquencycausesataxdeficiencyon
56515648 129 behalfofthetaxpayertoarise,thenthetaxpayershallbegrantedthirtydaysto
56525649 130 satisfythedeficiencyinwhichinterest,penalties,andadditionstotaxshallbe
56535650 131 tolled.Afterapplyingallavailablecreditstowardataxdelinquency,the
56545651 132 administeringagencyshallnotifytheappropriatedepartment,andthat
56555652 133 departmentshallupdatetheamountofoutstandingdelinquenttaxowedby
56565653 134 theapplicant.Ifanycreditsremainaftersatisfyingallinsurance,income,
56575654 135 sales,andusetaxdelinquencies,theremainingcreditsshallbeissuedtothe
56585655 136 applicant,subjecttotherestrictionsofotherprovisionsoflaw.]
56595656 [135.968.1.Ataxpayerwhoestablishesamegaproject,approvedby
56605657 2 thedepartment,withinanenhancedenterprisezoneshall,inexchangeforthe
56615658 3 considerationprovidedbynewtaxrevenuesandothereconomicstimulithat
56625659 4 willbegeneratedfromthenewjobscreatedbythemegaproject,beallowedan
56635660 5 incometaxcreditequaltothepercentageofactualnewannualpayrollofthe
56645661 6 taxpayerattributabletoemployeesdirectlyrelatedtothemanufacturingand
56655662 7 assemblyprocessandadministration,asprovidedundersubsection4ofthis
56665663 8 section.Ataxpayerseekingapprovalofamegaprojectshallsubmitan
56675664 9 applicationtothedepartment.Thedepartmentshallnotapproveany
56685665 10 megaprojectafterDecember31,2008.Thedepartmentshallnotapproveany
56695666 11 creditsformegaprojectstobeissuedpriortoJanuary1,2013,andinnoevent
56705667 12 shallthedepartmentauthorizemorethanfortymilliondollarstobeissued
56715668 13 annuallyforallmegaprojects.Thetotalamountofcreditsissuedunderthis
56725669 14 sectionshallnotexceedtwohundredfortymilliondollars.
56735670 15 2.Inconsideringapplicationsforapprovalofmegaprojects,the
56745671 16 departmentmayapproveanapplicationif:
56755672 17 (1)Thetaxpayer'sprojectisfinanciallysoundandthetaxpayerhas
56765673 18 adequatelydemonstratedanabilitytosuccessfullyundertakeandcompletethe
56775674 19 megaproject.Thisdeterminationshallbesupportedbyaprofessionalthird-
56785675 20 partymarketfeasibilityanalysisconductedonbehalfofthestatebyafirm
5679-HCS#2HB1007 144 21 withdirectexperiencewiththeindustryoftheproposedmegaproject,andbya
5676+21 withdirectexperiencewiththeindustryoftheproposedmegaproject,andbya
56805677 22 professionalthird-partyfinancialanalysisofthetaxpayer'sabilitytocomplete
56815678 23 theproject;
56825679 24 (2)Thetaxpayer'splanofrepaymenttothestateoftheamountoftax
56835680 25 creditsprovidedisreasonableandsound;
56845681 26 (3)Thetaxpayer'smegaprojectwillcreatenewjobsthatwerenotjobs
56855682 27 previouslyperformedbyemployeesofthetaxpayerorarelatedtaxpayerin
56865683 28 Missouri;
56875684 29 (4)Localtaxingentitiesareprovidingasignificantlevelofincentives
56885685 30 forthemegaprojectrelativetotheprojectednewlocaltaxrevenuescreatedby
56895686 31 themegaproject;
56905687 32 (5)Thereisatleastoneotherstateorforeigncountrythatthetaxpayer
56915688 33 verifiesisbeingconsideredfortheproject,andreceivingmegaprojecttax
56925689 34 creditsisamajorfactorinthetaxpayer'sdecisiontogoforwardwiththe
5693-35 projectandnotreceivingthecreditwillresultinthetaxpayernotcreatingnew
5690+HCSHB1007 144 35 projectandnotreceivingthecreditwillresultinthetaxpayernotcreatingnew
56945691 36 jobsinMissouri;
56955692 37 (6)Themegaprojectwillbelocatedinanenhancedenterprisezone
56965693 38 whichconstitutesaneconomicorsocialliabilityandadetrimenttothepublic
56975694 39 health,safety,morals,orwelfareinitspresentconditionanduse;
56985695 40 (7)Thecompletionofthemegaprojectwillserveanessentialpublic
56995696 41 municipalpurposebycreatingasubstantialnumberofnewjobsforcitizens,
57005697 42 increasingtheirpurchasingpower,improvingtheirlivingconditions,and
57015698 43 relievingthedemandforunemploymentandwelfareassistancethereby
57025699 44 promotingtheeconomicdevelopmentoftheenhancedenterprisezone,the
57035700 45 municipality,andthestate;and
57045701 46 (8)Thecreationofnewjobswillassistthestateinprovidingthe
57055702 47 servicesneededtoprotectthehealth,safety,andsocialandeconomicwell-
57065703 48 beingofthecitizensofthestate.
57075704 49 3.Priortofinalapprovalofanapplication,abindingcontractshallbe
57085705 50 executedbetweenthetaxpayerandthedepartmentofeconomicdevelopment
57095706 51 whichshallinclude,butnotbelimitedto:
57105707 52 (1)Arepaymentplanprovidingforcashpaymenttothestategeneral
57115708 53 revenuefundwhichshallresultinapositiveinternalrateofreturntothestate
57125709 54 andfullycomplywiththeprovisionsoftheWorldTradeOrganization
57135710 55 AgreementonSubsidiesandCountervailingMeasures.Therateofreturn
57145711 56 shallbecommerciallyreasonableand,overthelifeoftheproject,exceedone
57155712 57 hundredandfiftypercentofthestate'sborrowingcostsbasedontheAAA-
57165713 58 ratedtwenty-yeartax-exemptbondrateaverageoveratwenty-yearborrowing
57175714 59 period.Therateshallbeverifiedbyaprofessionalthird-partyfinancial
57185715 60 analysis;
57195716 61 (2)Thetaxpayer'sobligationtoconstructafacilityofatleastone
57205717 62 millionsquarefeetwithinfiveyearsfromthedateofapproval;
57215718 63 (3)Arequirementthattheissuanceoftaxcreditsauthorizedunderthis
57225719 64 sectionshallceaseandthetaxpayershallimmediatelysubmitpayment,tothe
57235720 65 stategeneralrevenuefund,inanamountequaltoallcreditspreviouslyissued
57245721 66 lessanyamountspreviouslyrepaid,increasedbyanadditionalamountthat
57255722 67 shallprovidethestateareasonablerateofreturn,intheeventthetaxpayer:
5726-HCS#2HB1007 145 68 (a)Failstoconstructafacilityofatleastonemillionsquarefeetwithin
5723+68 (a)Failstoconstructafacilityofatleastonemillionsquarefeetwithin
57275724 69 fiveyearsofthedateofapproval;
57285725 70 (b)Failstomakeascheduledpaymentasrequiredbytherepayment
57295726 71 plan;or
57305727 72 (c)Failstocompensatenewjobsatrateequaltoorinexcessofthe
57315728 73 countyaveragewageorfailstoofferhealthinsurancetoallsuchnewjobsand
57325729 74 payatleasteightypercentofsuchpremiums;and
57335730 75 (4)Arequirementthatthedepartmentshallsuspendissuanceoftax
57345731 76 creditsauthorizedunderthissectionif,atanypoint,thetotalamountoftax
57355732 77 creditsissuedlessthetotalamountofrepaymentsreceivedequalsonehundred
57365733 78 andfifty-fivemilliondollars.
57375734 79 4.Uponapprovalofanapplicationbythedepartment,taxcreditsshall
57385735 80 beissuedannuallyforaperiodnottoexceedeightyearsfromthe
57395736 81 commencementofcommercialoperationsofthemegaproject.Theeight-
57405737 82 yearperiodfortheissuanceofmegaprojecttaxcreditsmayextendbeyondthe
5741-83 expirationoftheenhancedenterprisezone.Themaximumpercentageofthe
5738+HCSHB1007 145 83 expirationoftheenhancedenterprisezone.Themaximumpercentageofthe
57425739 84 annualpayrollofthetaxpayerfornewjobslocatedatthemegaprojectwhich
57435740 85 maybeapprovedorissuedbythedepartmentfortaxcreditsshallnotexceed:
57445741 86 (1)Eightypercentforthefirstthreeyearsthattaxcreditswillbe
57455742 87 issuedforthemegaproject;
57465743 88 (2)Sixtypercentforthenexttwosubsequentyears;
57475744 89 (3)Fiftypercentforthenexttwosubsequentyears;and
57485745 90 (4)Thirtypercentfortheremainingyear.
57495746 91
57505747 92 Innoeventshallthedepartmentissuemorethanfortymilliondollarsannually
57515748 93 inmegaprojecttaxcreditstoanytaxpayer.Inanygivenyear,theamountof
57525749 94 taxcreditsissuedshallbethelesseroffortymilliondollars,theapplicable
57535750 95 annualpayrollpercentage,ortheamountoftaxcreditsremainingunissued
57545751 96 underthetwohundredfortymilliondollarlimitationonmegaprojecttaxcredit
57555752 97 issuanceprovidedundersubsection1ofthissection.
57565753 98 5.Taxcreditsissuedunderthissectionmaybeclaimedagainstthetax
57575754 99 imposedbychapter143,excludingwithholdingtaximposedbysections
57585755 100 143.191to143.265.Fortaxpayerswithflow-throughtaxtreatmentofits
57595756 101 members,partners,orshareholders,thecreditshallbeallowedtomembers,
57605757 102 partners,orshareholdersinproportiontotheirshareofownershiponthelast
57615758 103 dayofthetaxpayer'staxperiod.Thedirectorofrevenueshallissuearefundto
57625759 104 ataxpayertotheextenttheamountofcreditsallowedinthissectionexceeds
57635760 105 theamountofthetaxpayer'sincometaxliabilityintheyearredemptionis
57645761 106 authorized.Anowneroftaxcreditsissuedunderthissectionshallnotbe
57655762 107 requiredtohaveanyMissouriincometaxliabilityinordertoredeemsuchtax
57665763 108 creditsandreceivearefund.Thedirectorofrevenueshallprepareaformto
57675764 109 permittheownerofsuchtaxcreditstoobtainarefund.
57685765 110 6.Certificatesoftaxcreditsauthorizedunderthissectionmaybe
57695766 111 transferred,sold,orassignedbyfilinganotarizedendorsementthereofwith
57705767 112 thedepartmentthatnamesthetransferee,theamountoftaxcredittransferred,
57715768 113 andthevaluereceivedforthecredit,aswellasanyotherinformation
57725769 114 reasonablyrequestedbythedepartment.Uponsuchtransfer,sale,or
57735770 115 assignment,thetransfereeshallbetheownerofsuchtaxcreditsentitledto
5774-HCS#2HB1007 146 116 claimthetaxcreditsoranyrefundswithrespecttheretoissuedtothetaxpayer.
5771+116 claimthetaxcreditsoranyrefundswithrespecttheretoissuedtothetaxpayer.
57755772 117 Taxcreditsmaynotbecarriedforwardpasttheyearofissuance.Taxcredits
57765773 118 authorizedbythissectionmaynotbepledgedorusedtosecureanybondsor
57775774 119 otherindebtednessissuedbythestateoranypoliticalsubdivisionofthestate.
57785775 120 Oncesuchtaxcreditshavebeenissued,nothingshallprohibittheownerofthe
57795776 121 taxcreditsfrompledgingthetaxcreditstoanylenderorotherthirdparty.
57805777 122 7.Anytaxpayerissuedtaxcreditsunderthissectionshallprovidean
57815778 123 annualreporttothedepartmentandthehouseandsenateappropriations
57825779 124 committeesofthenumberofnewjobslocatedatthemegaproject,thenew
57835780 125 annualpayrollofsuchnewjobs,andsuchotherinformationasmaybe
57845781 126 requiredbythedepartmenttodocumentthebasisforbenefitsunderthis
57855782 127 section.Thedepartmentmaywithholdtheapprovaloftheannualissuanceof
57865783 128 anytaxcreditsuntilitissatisfiedthatproperdocumentationhasbeen
57875784 129 provided,andshallreducethetaxcreditstoreflectanyreductioninnew
57885785 130 payroll.Ifthedepartmentdeterminestheaveragewageisbelowthecounty
5789-131 averagewage,orthetaxpayerhasnotmaintainedemployeehealthinsurance
5786+HCSHB1007 146 131 averagewage,orthetaxpayerhasnotmaintainedemployeehealthinsurance
57905787 132 asrequired,thetaxpayershallnotreceivetaxcreditsforthatyear.
57915788 133 8.Notwithstandinganyprovisionoflawtothecontrary,anytaxpayer
57925789 134 whoisawardedtaxcreditsunderthissectionshallnotalsoreceivetaxcredits
57935790 135 undersections135.100to135.150,sections135.200to135.286,section
57945791 136 135.535,orsections620.1875to620.1890.
57955792 137 9.Anyactionbroughtinanycourtcontestingtheapprovalofa
57965793 138 megaprojectandtheissuanceofthetaxcredits,oranyotheractionundertaken
57975794 139 pursuanttothissectionrelatedtosuchmegaproject,shallbefiledwithin
57985795 140 ninetydaysfollowingapprovalofthemegaprojectbythedepartment.
57995796 141 10.Recordsanddocumentsrelatingtoaproposedmegaprojectshall
58005797 142 bedeemedclosedrecordsuntilsuchtimeastheapplicationhasbeenapproved.
58015798 143 Provisionsofthissubsectiontothecontrarynotwithstanding,records
58025799 144 containingbusinessplaninformationwhichmayendangerthe
58035800 145 competitivenessofthebusinessshallremainclosed.
58045801 146 11.Notwithstandinganyprovisionofthissectiontothecontrary,no
58055802 147 taxpayerwhoreceivesmegaprojecttaxcreditsauthorizedunderthissectionor
58065803 148 anyrelatedtaxpayershallemploy,priortoJanuary1,2022,directly:
58075804 149 (1)AnyelectedpublicofficialofthisstateholdingofficeasofJanuary
58085805 150 1,2008;
58095806 151 (2)Anydirector,deputydirector,divisiondirector,oremployee
58105807 152 directlyinvolvedinnegotiationsbetweenthedepartmentofeconomic
58115808 153 developmentandataxpayerrelativetothemegaprojectwhowasemployed
58125809 154 asofJanuary1,2008,bythedepartment.]
58135810 [135.970.Thedepartmentmayadoptsuchrules,statementsofpolicy,
58145811 2 procedures,forms,andguidelinesasmaybenecessarytocarryoutthe
58155812 3 provisionsofsections135.950to135.970.Anyruleorportionofarule,as
58165813 4 thattermisdefinedinsection536.010,thatiscreatedundertheauthority
58175814 5 delegatedinthissectionshallbecomeeffectiveonlyifitcomplieswithandis
58185815 6 subjecttoalloftheprovisionsofchapter536and,ifapplicable,section
58195816 7 536.028.Thissectionandchapter536arenonseverableandifanyofthe
58205817 8 powersvestedwiththegeneralassemblypursuanttochapter536toreview,to
5821-HCS#2HB1007 147 9 delaytheeffectivedate,ortodisapproveandannularulearesubsequently
5818+9 delaytheeffectivedate,ortodisapproveandannularulearesubsequently
58225819 10 heldunconstitutional,thenthegrantofrulemakingauthorityandanyrule
58235820 11 proposedoradoptedafterAugust28,2004,shallbeinvalidandvoid.]
58245821 [135.973.AfterJanuary1,2007,allenterprisezonesdesignatedbefore
58255822 2 January1,2006,shallbeeligibletoreceivethetaxbenefitsundersections
58265823 3 135.950to135.970.]
58275824 [135.1125.1.Asusedinthissection,thefollowingtermsshallmean:
58285825 2 (1)"Certificate",ataxcreditcertificateissuedunderthissection;
58295826 3 (2)"Department",theMissouridepartmentofsocialservices;
58305827 4 (3)"Eligibledonation",adonationofcash,stock,bondsorother
58315828 5 marketablesecurities,orrealpropertymadetoaneligibleprovider;
58325829 6 (4)"Eligibleprovider",anorganizationthatprovidesfundingfor
58335830 7 unmethealth,hunger,andhygieneneedsofchildreninschool;
5834-8 (5)"Taxpayer",aperson,firm,partnerinafirm,corporation,ora
5831+HCSHB1007 147 8 (5)"Taxpayer",aperson,firm,partnerinafirm,corporation,ora
58355832 9 shareholderinanScorporationdoingbusinessinthestateofMissouriand
58365833 10 subjecttothestateincometaximposedinchapter143,aninsurancecompany
58375834 11 payinganannualtaxonitsgrosspremiumreceiptsinthisstate,anyother
58385835 12 financialinstitutionpayingtaxestothestateofMissourioranypolitical
58395836 13 subdivisionofthisstateunderchapter148,oranycharitableorganization
58405837 14 whichisexemptfromfederalincometaxandwhoseMissouriunrelated
58415838 15 businesstaxableincome,ifany,wouldbesubjecttothestateincometax
58425839 16 imposedunderchapter143.
58435840 17 2.ForalltaxableyearsbeginningonorafterJanuary1,2019,any
58445841 18 taxpayershallbeallowedacreditagainstthetaxesotherwisedueunder
58455842 19 chapter143or148,excludingwithholdingtaxundersections143.191to
58465843 20 143.265,inanamountequaltofiftypercentoftheamountofaneligible
58475844 21 donation.Theamountofthetaxcreditclaimedshallnotexceedtheamountof
58485845 22 thetaxpayer'sstateincometaxliabilityinthetaxyearforwhichthecreditis
58495846 23 claimed.Anyamountofcreditthatthetaxpayerisprohibitedbythissection
58505847 24 fromclaiminginataxyearshallnotberefundable,butmaybecarriedforward
58515848 25 toanyofthetaxpayer'sfoursubsequenttaxableyears.
58525849 26 3.Toclaimthecreditauthorizedinthissection,aprovidermaysubmit
58535850 27 tothedepartmentanapplicationforthetaxcreditauthorizedbythissectionon
58545851 28 behalfoftaxpayers.Thedepartmentshallverifythattheproviderhas
58555852 29 submittedthefollowingitemsaccuratelyandcompletely:
58565853 30 (1)Avalidapplicationintheformandformatrequiredbythe
58575854 31 department;
58585855 32 (2)Astatementattestingtotheeligibledonationreceived,whichshall
58595856 33 includethenameandtaxpayeridentificationnumberoftheindividualmaking
58605857 34 theeligibledonation,theamountoftheeligibledonation,andthedatethe
58615858 35 eligibledonationwasreceivedbytheprovider;and
58625859 36 (3)Apaymentfromtheeligibleproviderinanamountequaltofifty
58635860 37 percentoftheeligibledonation.
58645861 38
58655862 39 Iftheproviderapplyingforthetaxcreditmeetsallcriteriarequiredbythis
58665863 40 subsection,thedepartmentshallissueacertificateintheappropriateamount.
5867-HCS#2HB1007 148 41 4.Taxcreditsissuedunderthissectionmaybeassigned,transferred,
5864+41 4.Taxcreditsissuedunderthissectionmaybeassigned,transferred,
58685865 42 sold,orotherwiseconveyed,andthenewownerofthetaxcreditshallhavethe
58695866 43 samerightsinthecreditasthetaxpayer.Wheneveracertificateisassigned,
58705867 44 transferred,sold,orotherwiseconveyed,anotarizedendorsementshallbe
58715868 45 filedwiththedepartmentspecifyingthenameandaddressofthenewownerof
58725869 46 thetaxcreditorthevalueofthecredit.
58735870 47 5.Thedepartmentshallpromulgaterulestoimplementtheprovisions
58745871 48 ofthissection.Anyruleorportionofarule,asthattermisdefinedinsection
58755872 49 536.010,thatiscreatedundertheauthoritydelegatedinthissectionshall
58765873 50 becomeeffectiveonlyifitcomplieswithandissubjecttoalloftheprovisions
58775874 51 ofchapter536and,ifapplicable,section536.028.Thissectionandchapter
58785875 52 536arenonseverableandifanyofthepowersvestedwiththegeneral
58795876 53 assemblypursuanttochapter536toreview,todelaytheeffectivedate,orto
58805877 54 disapproveandannularulearesubsequentlyheldunconstitutional,thenthe
5881-55 grantofrulemakingauthorityandanyruleproposedoradoptedafterAugust
5878+HCSHB1007 148 55 grantofrulemakingauthorityandanyruleproposedoradoptedafterAugust
58825879 56 28,2018,shallbeinvalidandvoid.
58835880 57 6.Pursuanttosection23.253oftheMissourisunsetact:
58845881 58 (1)Theprovisionsofthissectionshallautomaticallysunsetsixyears
58855882 59 afterAugust28,2018,unlessreauthorizedbyanactofthegeneralassembly;
58865883 60 and
58875884 61 (2)Ifsuchprogramisreauthorized,theprogramauthorizedunderthis
58885885 62 sectionshallautomaticallysunsettwelveyearsaftertheeffectivedateofthe
58895886 63 reauthorizationofthissection;and
58905887 64 (3)ThissectionshallterminateonSeptemberfirstofthecalendaryear
58915888 65 immediatelyfollowingthecalendaryearinwhichtheprogramauthorized
58925889 66 underthissectionissunset.]
58935890 [173.196.1.Anybusinessfirm,asdefinedinsection32.105,may
58945891 2 makeadonationtothe"MissouriHigherEducationScholarshipDonation
58955892 3 Fund",whichisherebycreatedinthestatetreasury.Adonatingbusinessfirm
58965893 4 shallreceiveataxcreditasprovidedinthissectionequaltofiftypercentofthe
58975894 5 amountofthedonation,exceptthattaxcreditsshallbeawardedeachfiscal
58985895 6 yearintheorderdonationsarereceivedandtheamountoftaxcredits
58995896 7 authorizedshalltotalnomorethantwohundredandfiftythousanddollarsfor
59005897 8 eachfiscalyear.
59015898 9 2.Thedepartmentofrevenueshallgranttaxcreditsapprovedunder
59025899 10 thissectionwhichshallbeappliedintheorderspecifiedinsubsection1of
59035900 11 section32.115untilused.Thetaxcreditsprovidedunderthissectionshallbe
59045901 12 refundable,andanytaxcreditnotusedinthefiscalyearinwhichapproved
59055902 13 maybecarriedoverthenextfivesucceedingcalendarorfiscalyearsuntilthe
59065903 14 fullcredithasbeenclaimed.Notwithstandinganyotherlawtothecontrary,
59075904 15 anytaxcreditsgrantedunderthissectionmaybeassigned,transferred,sold,or
59085905 16 otherwiseconveyedwithoutconsentorapproval.Suchtaxpayer,hereinafter
59095906 17 theassignorforpurposesofthissection,maysell,assign,exchange,or
59105907 18 otherwisetransferearnedtaxcredits:
59115908 19 (1)Fornolessthanseventy-fivepercentoftheparvalueofsuch
59125909 20 credits;and
5913-HCS#2HB1007 149 21 (2)Inanamountnottoexceedonehundredpercentofannualearned
5910+21 (2)Inanamountnottoexceedonehundredpercentofannualearned
59145911 22 credits.
59155912 23 3.Notaxcreditauthorizedunderthissectionmaybeappliedagainst
59165913 24 anytaxappliedinataxyearbeginningpriortoJanuary1,1995.
59175914 25 4.Allrevenuescreditedtothefundshallbeused,subjectto
59185915 26 appropriations,toprovidescholarshipsauthorizedundersections173.197to
59195916 27 173.199,andfornootherpurpose.
59205917 28 5.ForalltaxyearsbeginningonorafterJanuary1,2005,notax
59215918 29 creditsshallbeauthorized,awarded,orissuedtoanypersonorentityclaiming
59225919 30 anytaxcreditunderthissection.]
59235920 [320.093.1.Anyperson,firmorcorporationwhopurchasesadryfire
59245921 2 hydrant,asdefinedinsection320.273,orprovidesanacceptablemeansof
59255922 3 waterstorageforsuchdryfirehydrantincludingapond,tankorotherstorage
59265923 4 facilitywiththeprimarypurposeoffireprotectionwithinthestateofMissouri,
5927-5 shallbeeligibleforacreditonincometaxesotherwiseduepursuanttochapter
5924+HCSHB1007 149 5 shallbeeligibleforacreditonincometaxesotherwiseduepursuanttochapter
59285925 6 143,exceptsections143.191to143.261,asanincentivetoimplementsafeand
59295926 7 efficientfireprotectioncontrols.Thetaxcredit,nottoexceedfivethousand
59305927 8 dollars,shallbeequaltofiftypercentofthecostinactualexpenditureforany
59315928 9 newwaterstorageconstruction,equipment,developmentandinstallationof
59325929 10 thedryhydrant,includingpipes,valves,hydrantsandlaborforeachsuch
59335930 11 installationofadryhydrantornewwaterstoragefacility.Theamountofthe
59345931 12 taxcreditclaimedforin-kindcontributionsshallnotexceedtwenty-five
59355932 13 percentofthetotalamountofthecontributionforwhichthetaxcreditis
59365933 14 claimed.
59375934 15 2.Anyamountofcreditwhichexceedsthetaxdueshallnotbe
59385935 16 refundedbutmaybecarriedovertoanysubsequenttaxableyear,nottoexceed
59395936 17 sevenyears.Theperson,firmorcorporationmayelecttoassigntoathird
59405937 18 partytheapprovedtaxcredit.Thecertificateofassignmentandother
59415938 19 appropriateformsshallbefiledwiththeMissouridepartmentofrevenueand
59425939 20 thedepartmentofeconomicdevelopment.
59435940 21 3.Theperson,firmorcorporationshallmakeapplicationforthecredit
59445941 22 tothedepartmentofeconomicdevelopmentafterreceivingapprovalofthe
59455942 23 statefiremarshal.Thefiremarshalshallestablishbyrulepromulgated
59465943 24 pursuanttochapter536therequirementstobemetbasedontheNational
59475944 25 ResourcesConservationService'sDryHydrantStandard.Thestatefire
59485945 26 marshalordesignatedlocalrepresentativeshallreviewandauthorizethe
59495946 27 constructionandinstallationofanydryfirehydrantsite.Onlyapproveddry
59505947 28 firehydrantsitesshallbeeligiblefortaxcreditsasindicatedinthissection.
59515948 29 Undernocircumstanceshallsuchauthoritydenyanyentitytheabilityto
59525949 30 provideadryfirehydrantsitewhentaxcreditsarenotrequested.
59535950 31 4.Thedepartmentofpublicsafetyshallcertifytothedepartmentof
59545951 32 revenuethatthedryhydrantsystemmeetstherequirementstoobtainatax
59555952 33 creditasspecifiedinsubsection5ofthissection.
59565953 34 5.Inordertoqualifyforataxcreditunderthissection,adryhydrant
59575954 35 ornewwaterstoragefacilityshallmeetthefollowingminimumrequirements:
5958-HCS#2HB1007 150 36 (1)Eachbodyofwaterorwaterstoragestructureshallbeableto
5955+36 (1)Eachbodyofwaterorwaterstoragestructureshallbeableto
59595956 37 providetwohundredfiftygallonsperminuteforacontinuoustwo-hourperiod
59605957 38 duringafifty-yeardroughtorfreezeataverticalliftofeighteenfeet;
59615958 39 (2)Eachdryhydrantshallbelocatedwithintwenty-fivefeetofanall-
59625959 40 weatherroadwayandshallbeaccessibletofireprotectionequipment;
59635960 41 (3)Dryhydrantsshallbelocatedareasonabledistancefromotherdry
59645961 42 orpressurizedhydrants;and
59655962 43 (4)Thesiteshallprovideameasurableeconomicimprovement
59665963 44 potentialforruraldevelopment.
59675964 45 6.NewcreditsshallnotbeawardedunderthissectionafterAugust28,
59685965 46 2010.Thetotalamountofalltaxcreditsallowedpursuanttothissectionis
59695966 47 fivehundredthousanddollarsinanyonefiscalyearasapprovedbythe
59705967 48 directorofthedepartmentofeconomicdevelopment.
59715968 49 7.Anyruleorportionofarule,asthattermisdefinedinsection
59725969 50 536.010,thatiscreatedundertheauthoritydelegatedinthissectionshall
59735970 51 becomeeffectiveonlyifitcomplieswithandissubjecttoalloftheprovisions
59745971 52 ofchapter536and,ifapplicable,section536.028.Thissectionandchapter
5975-53 536arenonseverableandifanyofthepowersvestedwiththegeneral
5972+HCSHB1007 150 53 536arenonseverableandifanyofthepowersvestedwiththegeneral
59765973 54 assemblypursuanttochapter536toreview,todelaytheeffectivedateorto
59775974 55 disapproveandannularulearesubsequentlyheldunconstitutional,thenthe
59785975 56 grantofrulemakingauthorityandanyruleproposedoradoptedafterAugust
59795976 57 28,2007,shallbeinvalidandvoid.]
59805977 [348.300.Asusedinsections348.300to348.318,thefollowingterms
59815978 2 mean:
59825979 3 (1)"CommercialactivitylocatedinMissouri",anyresearch,
59835980 4 development,prototypefabrication,andsubsequentprecommercialization
59845981 5 activity,oranyactivityrelatedthereto,conductedinMissouriforthepurpose
59855982 6 ofproducingaserviceoraproductorprocessformanufacture,assemblyor
59865983 7 saleordevelopingaservicebasedonsuchaproductorprocessbyanyperson,
59875984 8 corporation,partnership,jointventure,unincorporatedassociation,trustor
59885985 9 otherorganizationdoingbusinessinMissouri.SubsequenttoJanuary1,1999,
59895986 10 acommercialactivitylocatedinMissourishallmeanonlysuchactivitythatis
59905987 11 locatedwithinadistressedcommunity,asdefinedinsection135.530;
59915988 12 (2)"Follow-upcapital",capitalprovidedtoacommercialactivity
59925989 13 locatedinMissouriinwhichaqualifiedfundhaspreviouslyinvestedseed
59935990 14 capitalorstart-upcapitalandwhichdoesnotexceedtentimestheamountof
59945991 15 suchseedandstart-upcapital;
59955992 16 (3)"Person",anyindividual,corporation,partnership,orotherentity,
59965993 17 includinganycharitablecorporationwhichisexemptfromfederalincometax
59975994 18 andwhoseMissouriunrelatedbusinesstaxableincome,ifany,wouldbe
59985995 19 subjecttothestateincometaximposedunderchapter143;
59995996 20 (4)"Qualifiedcontribution",cashcontributiontoaqualifiedfund;
60005997 21 (5)"Qualifiedeconomicdevelopmentorganization",anycorporation
60015998 22 organizedundertheprovisionsofchapter355whichhasasofJanuary1,1991,
60025999 23 obtainedacontractwiththedepartmentofeconomicdevelopmenttooperate
60036000 24 aninnovationcentertopromote,assistandcoordinatetheresearchand
60046001 25 developmentofnewservices,productsorprocessesinthestateofMissouri;
6005-HCS#2HB1007 151 26 andtheMissouritechnologycorporationorganizedpursuanttotheprovisions
6002+26 andtheMissouritechnologycorporationorganizedpursuanttotheprovisions
60066003 27 ofsections348.250to348.275;
60076004 28 (6)"Qualifiedfund",anycorporation,partnership,jointventure,
60086005 29 unincorporatedassociation,trustorotherorganizationwhichisestablished
60096006 30 underthelawsofMissouriafterDecember31,1985,whichmeetsallofthe
60106007 31 followingrequirementsestablishedbythissubdivision.Thefundshallhaveas
60116008 32 itssolepurposeandbusinessthemakingofinvestments,ofwhichatleast
60126009 33 ninetypercentofthedollarsinvestedshallbequalifiedinvestments.Thefund
60136010 34 shallenterintoacontractwithoneormorequalifiedeconomicdevelopment
60146011 35 organizationswhichshallentitlethequalifiedeconomicdevelopment
60156012 36 organizationstoreceivenotlessthantenpercentofalldistributionsof
60166013 37 equityanddividendsorotherearningsofthefund.Suchcontractsshall
60176014 38 requirethequalifiedfundtotransfertotheMissouritechnologycorporation
60186015 39 organizedpursuanttotheprovisionsofsections348.250to348.275this
60196016 40 interestandmakecorrespondingdistributionstheretointheeventthequalified
60206017 41 economicdevelopmentorganizationholdingsuchinterestisdissolvedor
60216018 42 ceasestodobusinessforaperiodofoneyearormore;
6022-43 (7)"Qualifiedinvestment",anyinvestmentofseedcapital,start-up
6019+HCSHB1007 151 43 (7)"Qualifiedinvestment",anyinvestmentofseedcapital,start-up
60236020 44 capital,orfollow-upcapitalinanycommercialactivitylocatedinMissouri;
60246021 45 (8)"Seedcapital",capitalprovidedtoacommercialactivitylocatedin
60256022 46 Missouriforresearch,developmentandprecommercializationactivitiesto
60266023 47 proveaconceptforanewproductorprocessorservice,andforactivities
60276024 48 relatedthereto;
60286025 49 (9)"Start-upcapital",capitalprovidedtoacommercialactivitylocated
60296026 50 inMissouriforuseinpreproductionproductdevelopmentorservice
60306027 51 developmentorinitialmarketingthereof,andforactivitiesrelatedthereto;
60316028 52 (10)"Statetaxliability",anystatetaxliabilityincurredbyataxpayer
60326029 53 undertheprovisionsofchapters143,147and148,exclusiveoftheprovisions
60336030 54 relatingtothewithholdingoftaxasprovidedforinsections143.191to
60346031 55 143.265andrelatedprovisions;
60356032 56 (11)"Uninvestedcapital",theamountofanydistribution,otherthanof
60366033 57 earnings,byaqualifiedfundmadewithinfiveyearsoftheissuanceofa
60376034 58 certificateoftaxcreditasprovidedbysections348.300to348.318;orthe
60386035 59 portionofallqualifiedcontributionstoaqualifiedfundwhicharenotinvested
60396036 60 asqualifiedinvestmentswithinfiveyearsoftheissuanceofacertificateoftax
60406037 61 creditasprovidedbysections348.300to348.318totheextentthattheamount
60416038 62 notsoinvestedexceedstenpercentofallsuchqualifiedcontributions.]
60426039 [348.300.Asusedinsections348.300to348.318,thefollowingterms
60436040 2 mean:
60446041 3 (1)"CommercialactivitylocatedinMissouri",anyresearch,
60456042 4 development,prototypefabrication,andsubsequentprecommercialization
60466043 5 activity,oranyactivityrelatedthereto,conductedinMissouriforthepurpose
60476044 6 ofproducingaserviceoraproductorprocessformanufacture,assemblyor
60486045 7 saleordevelopingaservicebasedonsuchaproductorprocessbyanyperson,
60496046 8 corporation,partnership,jointventure,unincorporatedassociation,trustor
60506047 9 otherorganizationdoingbusinessinMissouri.SubsequenttoJanuary1,1999,
6051-HCS#2HB1007 152 10 acommercialactivitylocatedinMissourishallmeanonlysuchactivitythatis
6048+10 acommercialactivitylocatedinMissourishallmeanonlysuchactivitythatis
60526049 11 locatedwithinadistressedcommunity,asdefinedinsection135.530;
60536050 12 (2)"Follow-upcapital",capitalprovidedtoacommercialactivity
60546051 13 locatedinMissouriinwhichaqualifiedfundhaspreviouslyinvestedseed
60556052 14 capitalorstart-upcapitalandwhichdoesnotexceedtentimestheamountof
60566053 15 suchseedandstart-upcapital;
60576054 16 (3)"Person",anyindividual,corporation,partnership,orotherentity,
60586055 17 includinganycharitablecorporationwhichisexemptfromfederalincometax
60596056 18 andwhoseMissouriunrelatedbusinesstaxableincome,ifany,wouldbe
60606057 19 subjecttothestateincometaximposedunderchapter143;
60616058 20 (4)"Qualifiedcontribution",cashcontributiontoaqualifiedfund;
60626059 21 (5)"Qualifiedeconomicdevelopmentorganization",anycorporation
60636060 22 organizedundertheprovisionsofchapter355whichhasasofJanuary1,1991,
60646061 23 obtainedacontractwiththedepartmentofeconomicdevelopmenttooperate
60656062 24 aninnovationcentertopromote,assistandcoordinatetheresearchand
60666063 25 developmentofnewservices,productsorprocessesinthestateofMissouri;
60676064 26 andtheMissouritechnologycorporationorganizedpursuanttotheprovisions
60686065 27 ofsections348.253to348.266;
6069-28 (6)"Qualifiedfund",anycorporation,partnership,jointventure,
6066+HCSHB1007 152 28 (6)"Qualifiedfund",anycorporation,partnership,jointventure,
60706067 29 unincorporatedassociation,trustorotherorganizationwhichisestablished
60716068 30 underthelawsofMissouriafterDecember31,1985,whichmeetsallofthe
60726069 31 followingrequirementsestablishedbythissubdivision.Thefundshallhaveas
60736070 32 itssolepurposeandbusinessthemakingofinvestments,ofwhichatleast
60746071 33 ninetypercentofthedollarsinvestedshallbequalifiedinvestments.Thefund
60756072 34 shallenterintoacontractwithoneormorequalifiedeconomicdevelopment
60766073 35 organizationswhichshallentitlethequalifiedeconomicdevelopment
60776074 36 organizationstoreceivenotlessthantenpercentofalldistributionsof
60786075 37 equityanddividendsorotherearningsofthefund.Suchcontractsshall
60796076 38 requirethequalifiedfundtotransfertotheMissouritechnologycorporation
60806077 39 organizedpursuanttotheprovisionsofsections348.253to348.266this
60816078 40 interestandmakecorrespondingdistributionstheretointheeventthequalified
60826079 41 economicdevelopmentorganizationholdingsuchinterestisdissolvedor
60836080 42 ceasestodobusinessforaperiodofoneyearormore;
60846081 43 (7)"Qualifiedinvestment",anyinvestmentofseedcapital,start-up
60856082 44 capital,orfollow-upcapitalinanycommercialactivitylocatedinMissouri;
60866083 45 (8)"Seedcapital",capitalprovidedtoacommercialactivitylocatedin
60876084 46 Missouriforresearch,developmentandprecommercializationactivitiesto
60886085 47 proveaconceptforanewproductorprocessorservice,andforactivities
60896086 48 relatedthereto;
60906087 49 (9)"Start-upcapital",capitalprovidedtoacommercialactivitylocated
60916088 50 inMissouriforuseinpreproductionproductdevelopmentorservice
60926089 51 developmentorinitialmarketingthereof,andforactivitiesrelatedthereto;
60936090 52 (10)"Statetaxliability",anystatetaxliabilityincurredbyataxpayer
60946091 53 undertheprovisionsofchapters143,147and148,exclusiveoftheprovisions
60956092 54 relatingtothewithholdingoftaxasprovidedforinsections143.191to
60966093 55 143.265andrelatedprovisions;
60976094 56 (11)"Uninvestedcapital",theamountofanydistribution,otherthanof
60986095 57 earnings,byaqualifiedfundmadewithinfiveyearsoftheissuanceofa
6099-HCS#2HB1007 153 58 certificateoftaxcreditasprovidedbysections348.300to348.318;orthe
6096+58 certificateoftaxcreditasprovidedbysections348.300to348.318;orthe
61006097 59 portionofallqualifiedcontributionstoaqualifiedfundwhicharenotinvested
61016098 60 asqualifiedinvestmentswithinfiveyearsoftheissuanceofacertificateoftax
61026099 61 creditasprovidedbysections348.300to348.318totheextentthattheamount
61036100 62 notsoinvestedexceedstenpercentofallsuchqualifiedcontributions.]
61046101 [348.302.1.Anypersonwhomakesaqualifiedcontributiontoa
61056102 2 qualifiedfundshallbeentitledtoreceiveataxcreditequaltofiftypercentof
61066103 3 theamountofthequalifiedcontribution.Thetaxcreditshallbeevidencedby
61076104 4 ataxcreditcertificateinaccordancewiththeprovisionsofsections348.300to
61086105 5 348.318andmaybeusedtosatisfythestatetaxliabilityoftheownerofsuch
61096106 6 certificatethatbecomesdueinthetaxyearinwhichthequalifiedcontribution
61106107 7 ismade,orinanyofthetentaxyearsthereafter.Nopersonmayreceiveatax
61116108 8 creditpursuanttosections348.300to348.318unlessthatpersonpresentsatax
61126109 9 creditcertificatetothedepartmentofrevenueforpaymentofsuchstatetax
61136110 10 liability.
61146111 11 2.Theamountofsuchqualifiedcontributionswhichcanbemadeis
61156112 12 limitedsothattheaggregateofalltaxcreditsauthorizedundertheprovisions
6116-13 ofsections348.300to348.318shallnotexceedninemilliondollars.Alltax
6113+HCSHB1007 153 13 ofsections348.300to348.318shallnotexceedninemilliondollars.Alltax
61176114 14 creditsauthorizedundertheprovisionsofthissectionmaybetransferred,sold
61186115 15 orassigned.]
61196116 [348.304.Thetotalamountofcreditevidencedbycertificatesoftax
61206117 2 creditissuedtotaxpayersattherequestofanyonequalifiedeconomic
61216118 3 developmentorganizationshallnotexceedtwomilliondollars;exceptthat,
61226119 4 thistwo-million-dollarlimitationshallnotapplytocertificatesoftaxcredit
61236120 5 issuedafterJanuary1,1996.PriortoJanuary1,1996,anyqualifiedeconomic
61246121 6 developmentorganizationmayenterintoacontractualagreementwithany
61256122 7 otherqualifiedeconomicdevelopmentorganizationtoallocatetothelatterany
61266123 8 portionofthetwomilliondollarsoftaxcreditswhichitisauthorizedtoissue
61276124 9 totaxpayersundertheprovisionsofthissection.Thecertificateoftaxcredit
61286125 10 maybeissuedinoneaggregatecertificateorinareasonablenumberof
61296126 11 multiplecertificatesinregardtoonequalifiedcontribution.Anyissued
61306127 12 certificatemaybesurrenderedinexchangefornewcertificatesnottoexceed
61316128 13 invaluethevalueoftheissuedcertificate.Thenumberanddenominationof
61326129 14 multiplecertificates,ifissued,shallbedeterminedbythedirectorofthe
61336130 15 departmentofeconomicdevelopment.]
61346131 [348.306.Nopersonshallreceive,byissuance,transferorassignment,
61356132 2 certificatesoftaxcreditissuedundertheprovisionsofsections348.300to
61366133 3 348.318inanamountinexcessofonemilliondollars.Subjecttothe
61376134 4 provisionsofthissection,certificatesoftaxcreditissuedinaccordancewith
61386135 5 sections348.300to348.318maybetransferredorassignedbynotarized
61396136 6 endorsementthereofwhichnamesthetransferee.]
61406137 [348.308.1.Thedirectorofthedepartmentofeconomicdevelopment
61416138 2 shallberesponsiblefortheadministrationandissuanceofthecertificateoftax
61426139 3 creditsauthorizedbysections348.300to348.318.Thedirectorofthe
6143-HCS#2HB1007 154 4 departmentofeconomicdevelopmentshallissueacertificateoftaxcreditat
6140+4 departmentofeconomicdevelopmentshallissueacertificateoftaxcreditat
61446141 5 therequestofanyqualifiedeconomicdevelopmentorganization.Eachrequest
61456142 6 shallincludeatruecopyofthedocumentscreatingthequalifiedfundandthe
61466143 7 interestofthequalifiedeconomicdevelopmentorganizationinthequalified
61476144 8 fund,thenameofthepersonwhoistoreceiveacertificateoftaxcredit,the
61486145 9 typeofstatetaxliability,asspecifiedinsubdivision(10)ofsection348.300,
61496146 10 againstwhichthetaxcreditistobeused,andtheamountofthecertificateof
61506147 11 taxcredittobeissuedtothepersonmakingthequalifiedcontribution.Each
61516148 12 requestshallbeacknowledgedunderoathbythepersonmakingthequalified
61526149 13 contributionandthepresidentofthequalifiedeconomicdevelopment
61536150 14 organization.
61546151 15 2.Intheeventthattwoormorequalifiedeconomicdevelopment
61556152 16 organizationshaveaninterestinaqualifiedfund,eitherorbothofsuch
61566153 17 qualifiedeconomicdevelopmentorganizationsmayrequestissuanceof
61576154 18 certificatesoftaxcreditinaccordancewiththeprovisionsofsections
61586155 19 348.300to348.318topersonscontributingtoqualifiedfunds.]
6159-[348.310.TheMissouridepartmentofrevenueshallaccepta
6156+HCSHB1007 154 [348.310.TheMissouridepartmentofrevenueshallaccepta
61606157 2 certificateoftaxcreditinlieuofotherpaymentinsuchamountasisequal
61616158 3 tothelesseroftheamountofthetaxortheremainingunusedamountofthe
61626159 4 creditasindicatedonthecertificateoftaxcredit;andshallindicateonthe
61636160 5 certificateoftaxcredittheamountoftaxtherebypaid,thedateofsuch
61646161 6 payment,andtheremainderoftheunusedcreditavailabletothetaxpayerafter
61656162 7 suchpayment.Thecertificateoftaxcreditshallbereturnedtothedirectorof
61666163 8 thedepartmentofeconomicdevelopment.Thedirectorofthedepartmentof
61676164 9 economicdevelopmentshallissueanewcertificatetotheproperownerfor
61686165 10 anyunusedbalance.]
61696166 [348.312.Noprovisionofsections348.300to348.318shallbe
61706167 2 construedtorequireaqualifiedeconomicdevelopmentorganizationtoaccept
61716168 3 aninterestinanyfund,norshallanyprovisionofsections348.300to348.318
61726169 4 beconstruedtolimitorrestrictthetermsandconditionsonwhichaqualified
61736170 5 economicdevelopmentorganizationmayagreetoacceptaninterestinany
61746171 6 fund.]
61756172 [348.316.1.Eachqualifiedfund,onorbeforetheduedateofits
61766173 2 federalincometaxreturn,shallmakeareportforaperiodcorrespondingtothe
61776174 3 qualifiedfund'sfederalincometaxyear.Thereportshallbemadeonaform
61786175 4 requiredbythedepartmentofeconomicdevelopment.Itshallbeverifiedby
61796176 5 theaffidavitofthefund'spresident,oranotherauthorizedofficer,tothe
61806177 6 departmentofeconomicdevelopment.Itshallstatetheamountofall
61816178 7 uninvestedcapital,whetherdistributionsofequityorfundsnotinvestedin
61826179 8 qualifiedinvestments,anditshallcontainothersuchinformationasmaybe
61836180 9 requiredbythedirectorofthedepartmentofeconomicdevelopment.
61846181 10 2.Uponthereceiptofsuchreturns,thedirectorofthedepartmentof
61856182 11 economicdevelopmentshallverifythesameandcertifytheamountoftaxdue
61866183 12 fromthevariousfundstothedirectorofrevenuewithinsixtydaysfromthe
61876184 13 dateofthereturn.Thedirectorofrevenueshallsendeachqualifiedfunda
6188-HCS#2HB1007 155 14 noticeoftaxduewithinthirtydaysofthedateofcertificationbythe
6185+14 noticeoftaxduewithinthirtydaysofthedateofcertificationbythe
61896186 15 departmentofeconomicdevelopment.Thequalifiedfundshallpaythetaxas
61906187 16 providedinthenoticewithinthirtydaysofthedateofsuchnotice.]
61916188 [348.318.Exceptasotherwisespecificallyprovidedinsections
61926189 2 348.300to348.318,interestandpenaltyprovisionsandproceduralmatters
61936190 3 undertheprovisionsofsections348.300to348.318shallbedetermined
61946191 4 pursuanttoandinthemannerprescribedinthefollowingsectionsofthe
61956192 5 revisedstatutesofMissouri,thestateincometaxlaw,governingsimilar
61966193 6 proceduresthereunder:sections143.271to143.301,143.511,143.551to
61976194 7 143.571,143.611to143.751,143.771,143.791to143.861,143.881to
61986195 8 143.971,and143.986.]
61996196 [620.635.Sections620.635to620.653shallbeknownandmaybe
62006197 2 citedasthe"MissouriNewEnterpriseCreationAct".]
6201-[620.638.Asusedinsections620.635to620.653,thefollowingterms
6198+HCSHB1007 155 [620.638.Asusedinsections620.635to620.653,thefollowingterms
62026199 2 mean:
62036200 3 (1)"Committedcontributions",thetotalamountofqualified
62046201 4 contributionsthatarecommittedtoaqualifyingfundbycontractual
62056202 5 agreement;
62066203 6 (2)"Corporation",theMissouritechnologycorporationasestablished
62076204 7 pursuanttosection348.251;
62086205 8 (3)"Department",thedepartmentofeconomicdevelopment;
62096206 9 (4)"Director",thedirectorofthedepartmentofeconomic
62106207 10 development;
62116208 11 (5)"Follow-upcapital",capitalprovidedtoaqualifiedbusinessin
62126209 12 whichaqualifiedfundhaspreviouslyinvestedseedcapitalorstart-upcapital.
62136210 13 Nomorethanfortypercentofthequalifiedcontributionstoaqualifiedfund
62146211 14 maybeusedforfollow-upcapital,andnoqualifiedcontributionswhich
62156212 15 generatetaxcreditsbeforethesecondroundofallocationsasauthorizedby
62166213 16 section620.650shallbeusedforfollow-upcapitalinvestments;
62176214 17 (6)"Person",anyindividual,corporation,partnership,limitedliability
62186215 18 companyorotherentity,includinganycharitableorganizationwhichis
62196216 19 exemptfromfederalincometaxandwhoseMissouriunrelatedbusiness
62206217 20 taxableincome,ifany,wouldbesubjecttothestateincometaximposedunder
62216218 21 chapter143;
62226219 22 (7)"Positivecashflow",totalcashreceiptsfromsalesorservices,but
62236220 23 notfrominvestmentsorloans,exceedingtotalcashexpendituresascalculated
62246221 24 onafiscalyearbasis;
62256222 25 (8)"Qualifiedbusiness",anyindependentlyownedandoperated
62266223 26 businesswhichisheadquarteredandlocatedinMissouriandwhichisinvolved
62276224 27 inorintendstobeinvolvedincommerceforthepurposeofmanufacturing,
62286225 28 processingorassemblingproducts,conductingresearchanddevelopment,or
62296226 29 providingservicesininterstatecommerce.Suchabusinessshallmaintainits
62306227 30 headquartersinMissouriforaperiodofatleastthreeyearsfromthedateof
62316228 31 receiptofaqualifiedinvestmentorbesubjecttopenaltiespursuanttosection
62326229 32 620.017;
6233-HCS#2HB1007 156 33 (9)"Qualifiedcontribution",cashcontributionstoaqualifiedfund
6230+33 (9)"Qualifiedcontribution",cashcontributionstoaqualifiedfund
62346231 34 pursuanttothetermsofcontractualagreementsmadebetweenthequalified
62356232 35 fundandaqualifiedeconomicdevelopmentorganizationauthorizedbythe
62366233 36 corporationtoenterintosuchcontracts;
62376234 37 (10)"Qualifiedeconomicdevelopmentorganization",anycorporation
62386235 38 organizedpursuanttotheprovisionsofchapter355that,asofJanuary1,1991,
62396236 39 hadobtainedacontractwiththedepartmenttooperateaninnovationcenterto
62406237 40 promote,assistandcoordinatetheresearchanddevelopmentofnewservices,
62416238 41 productsorprocessesinthisstate;
62426239 42 (11)"Qualifiedfund",afundestablishedbyanycorporation,
62436240 43 partnership,jointventure,unincorporatedassociation,trustorother
62446241 44 organizationestablishedpursuanttothelawsofMissouriandapprovedby
62456242 45 thecorporation;
62466243 46 (12)"Qualifiedinvestment",anyinvestmentofseedcapital,start-up
62476244 47 capitalorfollow-upcapitalinaqualifiedbusinessthatdoesnotcausemore
6248-48 thantenpercentofallthequalifiedcontributionstoaqualifiedfundtobe
6245+HCSHB1007 156 48 thantenpercentofallthequalifiedcontributionstoaqualifiedfundtobe
62496246 49 investedinasinglequalifiedbusiness;
62506247 50 (13)"Seedcapital",capitalprovidedtoaqualifiedbusinessfor
62516248 51 research,developmentandprecommercializationactivitiestoproveaconcept
62526249 52 foranewproduct,processorservice,andforactivitiesrelatedthereto;
62536250 53 providedthat,seedcapitalshallnotbeprovidedtoanybusinesswhichina
62546251 54 pastfiscalyearhasexperiencedapositivecashflow;
62556252 55 (14)"Start-upcapital",capitalprovidedtoaqualifiedbusinessforuse
62566253 56 inpreproductionproductdevelopment,servicedevelopmentorinitial
62576254 57 marketingthereof;providedthat,start-upcapitalshallnotbeprovidedto
62586255 58 anybusinesswhichhasexperiencedapositivecashflowinapastfiscalyear;
62596256 59 (15)"Uninvestedcapital",thatportionofanyqualifiedcontributionto
62606257 60 aqualifiedfund,otherthanmanagementfeesnottoexceedthreepercentper
62616258 61 yearofcommittedcontributions,qualifiedinvestmentsandotherexpensesor
62626259 62 feesauthorizedbythecorporation,thatisnotinvestedasaqualified
62636260 63 investmentwithintenyearsofitsreceipt.]
62646261 [620.641.ThepowersanddutiesoftheMissouriseedcapital
62656262 2 investmentboardshallbetransferredtotheMissouritechnologycorporation
62666263 3 effectiveAugust28,2011,andtheMissouriseedcapitalinvestmentboard
62676264 4 shallbedissolved.]
62686265 [620.644.1.TheMissouriseedcapitalandcommercialization
62696266 2 strategyshallbejointlydevelopedandapprovedbytheboardsofdirectorsof
62706267 3 allofthequalifiedeconomicdevelopmentorganizationsandsubmittedasone
62716268 4 plantothecorporationforitsapproval.Theboardshallnotapproveany
62726269 5 qualifiedfund,exclusiveofthefundapprovedbythecorporation,unlesssuch
62736270 6 fundisdescribedintheMissouriseedcapitalandcommercializationstrategy.
62746271 7 Thestrategyshallincludeaproposalfortheestablishmentandoperationof
62756272 8 betweenoneandfourqualifiedfundsinMissouri,includingthefundapproved
62766273 9 bythecorporationpursuanttotheprovisionsofsection620.653.Theinitial
62776274 10 strategyshallbesubmittedtotheboardnolaterthanJuly1,2000,andshallbe
62786275 11 approvedorrejectedbytheboardwithinthreemonthsofreceipt.Notax
6279-HCS#2HB1007 157 12 creditsauthorizedpursuanttotheprovisionsofsections620.635to620.653
6276+12 creditsauthorizedpursuanttotheprovisionsofsections620.635to620.653
62806277 13 shallbeawardeduntilsuchstrategyhasbeenapprovedbytheboard,other
62816278 14 thantaxcreditsauthorizedforqualifiedcontributionstothefundapprovedby
62826279 15 thecorporation.
62836280 16 2.Thedepartmentshallauthorizetheuseofuptotwentymillion
62846281 17 dollarsintaxcreditsbytheapprovedqualifiedfunds,inaggregatepursuantto
62856282 18 theprovisionsofsection620.650,withnotmorethanfivemilliondollarsof
62866283 19 taxcreditsbeingissuedinanyoneyear.
62876284 20 3.Thecorporationshallapprovetheprofessionalmanagersemployed
62886285 21 bythequalifiedfundsaccordingtocriteriasimilartothatusedbytheU.S.
62896286 22 SmallBusinessAdministration'sSmallBusinessInvestmentCorporation
62906287 23 Program.
62916288 24 4.Thedepartmentmaypromulgateanyrulesandregulations
62926289 25 necessarytoadministertheprovisionsofsections620.635to620.653.No
62936290 26 ruleorregulationorportionofaruleorregulationpromulgatedpursuanttothe
6294-27 authorityofthissectionshallbecomeeffectiveunlessithasbeenpromulgated
6291+HCSHB1007 157 27 authorityofthissectionshallbecomeeffectiveunlessithasbeenpromulgated
62956292 28 pursuanttotheprovisionsofchapter536.
62966293 29 5.Thecorporationshallreportthefollowingtothedepartment:
62976294 30 (1)Assoonaspracticableafterthereceiptofaqualifiedcontribution
62986295 31 thenameofeachpersonfromwhichthequalifiedcontributionwasreceived,
62996296 32 theamountofeachcontributor'squalifiedcontributionandthetaxcredits
63006297 33 computedpursuanttothissection;
63016298 34 (2)Onaquarterlybasis,theamountofqualifiedinvestmentsmadeto
63026299 35 anyqualifiedbusiness;
63036300 36 (3)Onaquarterlybasis,verificationthattheinvestmentofseed
63046301 37 capital,start-upcapital,orfollow-upcapitalinaqualifiedbusinessdoesnot
63056302 38 directmorethantenpercentofallthequalifiedcontributionstoaqualified
63066303 39 fundtobeinvestedinasinglequalifyingbusiness.
63076304 40 6.Eachqualifiedfundshallprovideannualauditedfinancial
63086305 41 statements,includingtheopinionofanindependentcertifiedpublic
63096306 42 accountant,tothedepartmentwithinninetydaysofthecloseofthestate
63106307 43 fiscalyear.Theauditshalladdressthemethodsofoperationandconductof
63116308 44 thebusinessofthequalifiedeconomicdevelopmentorganizationtodetermine
63126309 45 compliancewiththestatutesandprogramandprogramrulesandthatthe
63136310 46 qualifiedcontributionsreceivedbythequalifiedfundhavebeeninvestedas
63146311 47 requiredbythissection.]
63156312 [620.647.1.Thecorporationmayauthorizeeachqualifiedeconomic
63166313 2 developmentorganizationtoenterintocontractualagreementswithany
63176314 3 qualifiedfundallowingsuchqualifiedfundtooffertaxcreditsauthorized
63186315 4 pursuanttotheprovisionsofsections620.635to620.653tothosepersons
63196316 5 makingqualifiedcontributionstothequalifiedfund.Thecorporationshall
63206317 6 establishpoliciesandproceduresrequiringeachauthorizedqualifiedeconomic
63216318 7 developmentorganizationtosecurefromeachqualifiedfundanditsinvestors
63226319 8 themaximumfundequityinterestpossible,asdictatedbymarketconditions,
63236320 9 inexchangefortheuseofthetaxcredits.Alltaxcreditsauthorizedpursuant
63246321 10 tosections620.635to620.653shallbeadministeredbythedepartment.
6325-HCS#2HB1007 158 11 2.Eachqualifiedfundshallenterintoacontractwithoneormore
6322+11 2.Eachqualifiedfundshallenterintoacontractwithoneormore
63266323 12 qualifiedeconomicdevelopmentorganizationswhichshallentitleallqualified
63276324 13 economicdevelopmentorganizationsinexistenceatthattimetoreceiveand
63286325 14 shareequallyalldistributionsofequityanddividendsorotherearningsofthe
63296326 15 fundthataregeneratedasaresultofanyequityinterestsecuredasaresultof
63306327 16 actionstakentocomplywithsubsection1ofthissection.Suchcontractsshall
63316328 17 requirethequalifiedfundstotransfertothecorporationalldistributionsof
63326329 18 dividendsorotherearningsofthefundthatareowedtoanyqualified
63336330 19 economicdevelopmentorganizationthathasdissolvedorhasceaseddoing
63346331 20 businessforaperiodofoneyearormore.
63356332 21 3.Alldistributionsofdividends,earnings,equityorthelikeowed
63366333 22 pursuanttotheprovisionsofsections620.635to620.653toaqualified
63376334 23 economicdevelopmentorganizationbyanyqualifiedfundshallbepaidtothe
63386335 24 qualifiedeconomicdevelopmentorganization.Thequalifiedeconomic
63396336 25 developmentorganizationshallusesuchpaymentssolelyforreinvestmentin
63406337 26 qualifiedfundsinordertoprovideongoingseedcapital,start-upcapitaland
6341-27 follow-upcapitalforMissouribusinesses.Noqualifiedeconomic
6338+HCSHB1007 158 27 follow-upcapitalforMissouribusinesses.Noqualifiedeconomic
63426339 28 developmentorganizationmaytransferanydividends,earnings,equityor
63436340 29 thelikeoweditpursuanttosections620.635to620.653toanyotherpersonor
63446341 30 entitywithouttheapprovalofthecorporation.]
63456342 [620.650.1.Thesolepurposeofeachqualifiedfundistomake
63466343 2 investments.Onehundredpercentofinvestmentsmadefromqualified
63476344 3 contributionsshallbequalifiedinvestments.
63486345 4 2.Anypersonwhomakesaqualifiedcontributiontoaqualifiedfund
63496346 5 shallreceiveataxcreditagainstthetaxotherwiseduepursuanttochapter143,
63506347 6 chapter147,orchapter148,otherthantaxeswithheldpursuanttosections
63516348 7 143.191to143.265,inanamountequaltoonehundredpercentofsuch
63526349 8 person'squalifiedcontribution.
63536350 9 3.Suchpersonshallsubmittothedepartmentanapplicationforthe
63546351 10 taxcreditonaformprovidedbythedepartment.Thedepartmentshallaward
63556352 11 taxcreditsintheordertheapplicationsarereceivedandbaseduponthe
63566353 12 strategyapprovedbythecorporation.Taxcreditsissuedpursuanttothis
63576354 13 sectionmaybeclaimedforthetaxyearinwhichthequalifiedcontributionis
63586355 14 madeorinanyofthefollowingtenyears,andmaybeassigned,transferredor
63596356 15 sold.
63606357 16 4.Thereisherebyimposedoneachqualifiedfundataxequalto
63616358 17 fifteenpercentofthequalifiedfund'suninvestedcapitalatthecloseofsuch
63626359 18 qualifiedfund'staxyear.Forpurposesoftaxcomputation,anydistribution
63636360 19 madebyaqualifiedfundduringataxyearisdeemedmadeattheendofsuch
63646361 20 taxyear.Eachtaxyear,everyqualifiedfundshallremitthetaximposedby
63656362 21 thissectiontothedirectorofthedepartmentofrevenuefordepositinthestate
63666363 22 treasurytothecreditofthegeneralrevenuefund.]
63676364 [620.653.Theprovisionsofsections620.635to620.650tothe
63686365 2 contrarynotwithstanding,onequalifiedfundshallbeapprovedbythe
63696366 3 corporationassoonaspracticableafterJuly8,1999.Suchfundneednotbe
63706367 4 initiallyincorporatedintotheseedcapitalandcommercializationstrategyuntil
6371-HCS#2HB1007 159 5 aftertheappointmentoftheboard.Aftertheappointmentoftheboard,all
6368+5 aftertheappointmentoftheboard.Aftertheappointmentoftheboard,all
63726369 6 powersexercisedbythecorporationinrelationtothatfundshallbetransferred
63736370 7 totheboard.Afterthedissolutionoftheboard,allpowersexercisedbythe
63746371 8 boardshallbetransferredtothecorporation.Thecorporationshallapprove
63756372 9 theprofessionalfundmanageremployedbythequalifiedfundestablishedby
63766373 10 thissection.]
63776374 [620.1875.Sections620.1875to620.1890shallbeknownandmaybe
63786375 2 citedasthe"MissouriQualityJobsAct".]
63796376 [620.1878.Forthepurposesofsections620.1875to620.1890,the
63806377 2 followingtermsshallmean:
63816378 3 (1)"Approval",adocumentsubmittedbythedepartmenttothe
63826379 4 qualifiedcompanythatstatesthebenefitsthatmaybeprovidedbythis
63836380 5 program;
6384-6 (2)"Averagewage",thenewpayrolldividedbythenumberofnew
6381+HCSHB1007 159 6 (2)"Averagewage",thenewpayrolldividedbythenumberofnew
63856382 7 jobs;
63866383 8 (3)"Commencementofoperations",thestartingdateforthequalified
63876384 9 company'sfirstnewemployee,whichmustbenolaterthantwelvemonths
63886385 10 fromthedateoftheapproval;
63896386 11 (4)"Countyaveragewage",theaveragewagesineachcountyas
63906387 12 determinedbythedepartmentforthemostrecentlycompletedfullcalendar
63916388 13 year.However,ifthecomputedcountyaveragewageisabovethestatewide
63926389 14 averagewage,thestatewideaveragewageshallbedeemedthecountyaverage
63936390 15 wageforsuchcountyforthepurposeofdeterminingeligibility.The
63946391 16 departmentshallpublishthecountyaveragewageforeachcountyatleast
63956392 17 annually.Notwithstandingtheprovisionsofthissubdivisiontothecontrary,
63966393 18 foranyqualifiedcompanythatinconjunctionwiththeirprojectisrelocating
63976394 19 employeesfromaMissouricountywithahighercountyaveragewage,the
63986395 20 companyshallobtaintheendorsementofthegoverningbodyofthe
63996396 21 communityfromwhichjobsarebeingrelocatedorthecountyaveragewage
64006397 22 fortheirprojectshallbethecountyaveragewageforthecountyfromwhich
64016398 23 theemployeesarebeingrelocated;
64026399 24 (5)"Department",theMissouridepartmentofeconomicdevelopment;
64036400 25 (6)"Director",thedirectorofthedepartmentofeconomic
64046401 26 development;
64056402 27 (7)"Employee",apersonemployedbyaqualifiedcompany;
64066403 28 (8)"Full-timeemployee",anemployeeofthequalifiedcompanythat
64076404 29 isscheduledtoworkanaverageofatleastthirty-fivehoursperweekfora
64086405 30 twelve-monthperiod,andoneforwhichthequalifiedcompanyoffershealth
64096406 31 insuranceandpaysatleastfiftypercentofsuchinsurancepremiums;
64106407 32 (9)"High-impactproject",aqualifiedcompanythat,withintwoyears
64116408 33 fromcommencementofoperations,createsonehundredormorenewjobs;
64126409 34 (10)"Localincentives",thepresentvalueofthedollaramountof
64136410 35 directbenefitreceivedbyaqualifiedcompanyforaprojectfacilityfromone
64146411 36 ormorelocalpoliticalsubdivisions,butshallnotincludeloansorotherfunds
64156412 37 providedtothequalifiedcompanythatmustberepaidbythequalified
64166413 38 companytothepoliticalsubdivision;
6417-HCS#2HB1007 160 39 (11)"NAICS",the1997editionoftheNorthAmericanIndustry
6414+39 (11)"NAICS",the1997editionoftheNorthAmericanIndustry
64186415 40 ClassificationSystemaspreparedbytheExecutiveOfficeofthePresident,
64196416 41 OfficeofManagementandBudget.AnyNAICSsector,subsector,industry
64206417 42 grouporindustryidentifiedinthissectionshallincludeitscorresponding
64216418 43 classificationinsubsequentfederalindustryclassificationsystems;
64226419 44 (12)"Newdirectlocalrevenue",thepresentvalueofthedollaramount
64236420 45 ofdirectnetnewtaxrevenuesofthelocalpoliticalsubdivisionslikelytobe
64246421 46 producedbytheprojectoveraten-yearperiodascalculatedbythedepartment,
64256422 47 excludinglocalearningstax,andnetnewutilityrevenues,providedthelocal
64266423 48 incentivesincludeadiscountorotherdirectincentivesfromutilitiesownedor
64276424 49 operatedbythepoliticalsubdivision;
64286425 50 (13)"Newinvestment",thepurchaseorleasingofnewtangibleassets
64296426 51 tobeplacedinoperationattheprojectfacility,whichwillbedirectlyrelatedto
64306427 52 thenewjobs;
6431-53 (14)"Newjob",thenumberoffull-timeemployeeslocatedatthe
6428+HCSHB1007 160 53 (14)"Newjob",thenumberoffull-timeemployeeslocatedatthe
64326429 54 projectfacilitythatexceedstheprojectfacilitybaseemploymentlessany
64336430 55 decreaseinthenumberoffull-timeemployeesatrelatedfacilitiesbelowthe
64346431 56 relatedfacilitybaseemployment.Nojobthatwascreatedpriortothedateof
64356432 57 thenoticeofintentshallbedeemedanewjob.Anemployeethatspendsless
64366433 58 thanfiftypercentoftheemployee'sworktimeatthefacilityisstillconsidered
64376434 59 tobelocatedatafacilityiftheemployeereceiveshisorherdirectionsand
64386435 60 controlfromthatfacility,isonthefacility'spayroll,onehundredpercentofthe
64396436 61 employee'sincomefromsuchemploymentisMissouriincome,andthe
64406437 62 employeeispaidatorabovethestateaveragewage;
64416438 63 (15)"Newpayroll",theamountoftaxablewagesoffull-time
64426439 64 employees,excludingowners,locatedattheprojectfacilitythatexceedsthe
64436440 65 projectfacilitybasepayroll.Iffull-timeemploymentatrelatedfacilitiesis
64446441 66 belowtherelatedfacilitybaseemployment,anydecreaseinpayrollforfull-
64456442 67 timeemployeesattherelatedfacilitiesbelowthatrelatedfacilitybasepayroll
64466443 68 shallalsobesubtractedtodeterminenewpayroll;
64476444 69 (16)"Noticeofintent",aformdevelopedbythedepartment,
64486445 70 completedbythequalifiedcompanyandsubmittedtothedepartmentwhich
64496446 71 statesthequalifiedcompany'sintenttohirenewjobsandrequestbenefits
64506447 72 underthisprogram;
64516448 73 (17)"Percentoflocalincentives",theamountoflocalincentives
64526449 74 dividedbytheamountofnewdirectlocalrevenue;
64536450 75 (18)"Program",theMissouriqualityjobsprogramprovidedin
64546451 76 sections620.1875to620.1890;
64556452 77 (19)"Projectfacility",thebuildingusedbyaqualifiedcompanyat
64566453 78 whichthenewjobsandnewinvestmentwillbelocated.Aprojectfacilitymay
64576454 79 includeseparatebuildingsthatarelocatedwithinfifteenmilesofeachotheror
64586455 80 withinthesamecountysuchthattheirpurposeandoperationsareinterrelated;
64596456 81 (20)"Projectfacilitybaseemployment",thegreaterofthenumberof
64606457 82 full-timeemployeeslocatedattheprojectfacilityonthedateofthenoticeof
64616458 83 intentorforthetwelve-monthperiodpriortothedateofthenoticeofintent,
64626459 84 theaveragenumberoffull-timeemployeeslocatedattheprojectfacility.In
64636460 85 theeventtheprojectfacilityhasnotbeeninoperationforafulltwelve-month
64646461 86 period,theaveragenumberoffull-timeemployeesforthenumberofmonths
6465-HCS#2HB1007 161 87 theprojectfacilityhasbeeninoperationpriortothedateofthenoticeof
6462+87 theprojectfacilityhasbeeninoperationpriortothedateofthenoticeof
64666463 88 intent;
64676464 89 (21)"Projectfacilitybasepayroll",thetotalamountoftaxablewages
64686465 90 paidbythequalifiedcompanytofull-timeemployeesofthequalified
64696466 91 companylocatedattheprojectfacilityinthetwelvemonthspriortothenotice
64706467 92 ofintent,notincludingthepayrolloftheownersofthequalifiedcompany
64716468 93 unlessthequalifiedcompanyisparticipatinginanemployeestockownership
64726469 94 plan.Forpurposesofcalculatingthebenefitsunderthisprogram,theamount
64736470 95 ofbasepayrollshallincreaseeachyearbasedonanappropriatemeasure,as
64746471 96 determinedbythedepartment;
64756472 97 (22)"Projectperiod",thetimeperiodthatthebenefitsareprovidedto
64766473 98 aqualifiedcompany;
64776474 99 (23)"Qualifiedcompany",afirm,partnership,jointventure,
64786475 100 association,privateorpubliccorporationwhetherorganizedforprofitor
6479-101 not,orheadquartersofsuchentityregisteredtodobusinessinMissourithatis
6476+HCSHB1007 161 101 not,orheadquartersofsuchentityregisteredtodobusinessinMissourithatis
64806477 102 theowneroroperatorofaprojectfacility,offershealthinsurancetoallfull-
64816478 103 timeemployeesofallfacilitieslocatedinthisstate,andpaysatleastfifty
64826479 104 percentofsuchinsurancepremiums.Forthepurposesofsections620.1875to
64836480 105 620.1890,theterm"qualifiedcompany"shallnotinclude:
64846481 106 (a)Gamblingestablishments(NAICSindustrygroup7132);
64856482 107 (b)Retailtradeestablishments(NAICSsectors44and45);
64866483 108 (c)Foodanddrinkingplaces(NAICSsubsector722);
64876484 109 (d)Publicutilities(NAICS221includingwaterandsewerservices);
64886485 110 (e)Anycompanythatisdelinquentinthepaymentofany
64896486 111 nonprotestedtaxesoranyotheramountsduethestateorfederalgovernment
64906487 112 oranyotherpoliticalsubdivisionofthisstate;
64916488 113 (f)Anycompanythathasfiledfororhaspubliclyannouncedits
64926489 114 intentiontofileforbankruptcyprotection.However,acompanythathasfiled
64936490 115 fororhaspubliclyannounceditsintentiontofileforbankruptcybetween
64946491 116 January1,2009,andDecember31,2009,maybeaqualifiedcompany
64956492 117 providedthatsuchcompany:
64966493 118 a.Certifiestothedepartmentthatitplanstoreorganizeandnotto
64976494 119 liquidate;and
64986495 120 b.Afteritsbankruptcypetitionhasbeenfiled,itproducesproof,ina
64996496 121 formandattimessatisfactorytothedepartment,thatitisnotdelinquentin
65006497 122 filinganytaxreturnsormakinganypaymentduetothestateofMissouri,
65016498 123 includingbutnotlimitedtoalltaxpaymentsdueafterthefilingofthe
65026499 124 bankruptcypetitionandunderthetermsoftheplanofreorganization.
65036500 125
65046501 126 Anytaxpayerwhoisawardedbenefitsunderthissubsectionandwhofilesfor
65056502 127 bankruptcyunderChapter7oftheUnitedStatesBankruptcyCode,Title11
65066503 128 U.S.C.,shallimmediatelynotifythedepartmentandshallforfeitsuchbenefits
65076504 129 andshallrepaythestateanamountequaltoanystatetaxcreditsalready
65086505 130 redeemedandanywithholdingtaxesalreadyretained;
65096506 131 (g)Educationalservices(NAICSsector61);
65106507 132 (h)Religiousorganizations(NAICSindustrygroup8131);
65116508 133 (i)Publicadministration(NAICSsector92);
65126509 134 (j)Ethanoldistillationorproduction;or
6513-HCS#2HB1007 162 135 (k)Biodieselproduction.
6510+135 (k)Biodieselproduction.
65146511 136
65156512 137 Notwithstandinganyprovisionofthissectiontothecontrary,theheadquarters
65166513 138 oradministrativeofficesofanotherwiseexcludedbusinessmayqualifyfor
65176514 139 benefitsiftheofficesserveamultistateterritory.Intheeventanational,state,
65186515 140 orregionalheadquartersoperationisnotthepredominantactivityofaproject
65196516 141 facility,thenewjobsandinvestmentofsuchheadquartersoperationis
65206517 142 consideredeligibleforbenefitsunderthissectioniftheotherrequirementsare
65216518 143 satisfied;
65226519 144 (24)"Qualifiedrenewableenergysources"shallnotbeconstruedto
65236520 145 includeethanoldistillationorproductionorbiodieselproduction;however,it
65246521 146 shallinclude:
65256522 147 (a)Open-loopedbiomass;
65266523 148 (b)Close-loopedbiomass;
6527-149 (c)Solar;
6524+HCSHB1007 162 149 (c)Solar;
65286525 150 (d)Wind;
65296526 151 (e)Geothermal;and
65306527 152 (f)Hydropower;
65316528 153 (25)"Relatedcompany"means:
65326529 154 (a)Acorporation,partnership,trust,orassociationcontrolledbythe
65336530 155 qualifiedcompany;
65346531 156 (b)Anindividual,corporation,partnership,trust,orassociationin
65356532 157 controlofthequalifiedcompany;or
65366533 158 (c)Corporations,partnerships,trustsorassociationscontrolledbyan
65376534 159 individual,corporation,partnership,trustorassociationincontrolofthe
65386535 160 qualifiedcompany.Asusedinthissubdivision,"controlofacorporation"
65396536 161 shallmeanownership,directlyorindirectly,ofstockpossessingatleastfifty
65406537 162 percentofthetotalcombinedvotingpowerofallclassesofstockentitledto
65416538 163 vote,"controlofapartnershiporassociation"shallmeanownershipofatleast
65426539 164 fiftypercentofthecapitalorprofitsinterestinsuchpartnershiporassociation,
65436540 165 "controlofatrust"shallmeanownership,directlyorindirectly,ofatleastfifty
65446541 166 percentofthebeneficialinterestintheprincipalorincomeofsuchtrust,and
65456542 167 ownershipshallbedeterminedasprovidedinSection318oftheInternal
65466543 168 RevenueCodeof1986,asamended;
65476544 169 (26)"Relatedfacility",afacilityoperatedbythequalifiedcompanyor
65486545 170 arelatedcompanylocatedinthisstatethatisdirectlyrelatedtotheoperations
65496546 171 oftheprojectfacility;
65506547 172 (27)"Relatedfacilitybaseemployment",thegreaterofthenumberof
65516548 173 full-timeemployeeslocatedatallrelatedfacilitiesonthedateofthenoticeof
65526549 174 intentorforthetwelve-monthperiodpriortothedateofthenoticeofintent,
65536550 175 theaveragenumberoffull-timeemployeeslocatedatallrelatedfacilitiesof
65546551 176 thequalifiedcompanyorarelatedcompanylocatedinthisstate;
65556552 177 (28)"Relatedfacilitybasepayroll",thetotalamountoftaxablewages
65566553 178 paidbythequalifiedcompanytofull-timeemployeesofthequalified
65576554 179 companylocatedatarelatedfacilityinthetwelvemonthspriortothefilingof
65586555 180 thenoticeofintent,notincludingthepayrolloftheownersofthequalified
65596556 181 companyunlessthequalifiedcompanyisparticipatinginanemployeestock
65606557 182 ownershipplan.Forpurposesofcalculatingthebenefitsunderthisprogram,
6561-HCS#2HB1007 163 183 theamountofrelatedfacilitybasepayrollshallincreaseeachyearbasedonan
6558+183 theamountofrelatedfacilitybasepayrollshallincreaseeachyearbasedonan
65626559 184 appropriatemeasure,asdeterminedbythedepartment;
65636560 185 (29)"Ruralarea",acountyinMissouriwithapopulationlessthan
65646561 186 seventy-fivethousandorthatdoesnotcontainanindividualcitywitha
65656562 187 populationgreaterthanfiftythousandaccordingtothemostrecentfederal
65666563 188 decennialcensus;
65676564 189 (30)"Smallandexpandingbusinessproject",aqualifiedcompanythat
65686565 190 withintwoyearsofthedateoftheapprovalcreatesaminimumoftwentynew
65696566 191 jobsiftheprojectfacilityislocatedinaruralareaoraminimumoffortynew
65706567 192 jobsiftheprojectfacilityisnotlocatedinaruralareaandcreatesfewerthan
65716568 193 onehundrednewjobsregardlessofthelocationoftheprojectfacility;
65726569 194 (31)"Taxcredits",taxcreditsissuedbythedepartmenttooffsetthe
65736570 195 stateincometaxesimposedbychapters143and148,orwhichmaybesoldor
65746571 196 refundedasprovidedforinthisprogram;
6575-197 (32)"Technologybusinessproject",aqualifiedcompanythatwithin
6572+HCSHB1007 163 197 (32)"Technologybusinessproject",aqualifiedcompanythatwithin
65766573 198 twoyearsofthedateoftheapprovalcreatesaminimumoftennewjobs
65776574 199 involvedintheoperationsofacompany:
65786575 200 (a)Whichisatechnologycompany,asdeterminedbyaregulation
65796576 201 promulgatedbythedepartmentundertheprovisionsofsection620.1884or
65806577 202 classifiedbyNAICScodes;
65816578 203 (b)Whichownsorleasesafacilitywhichproduceselectricityderived
65826579 204 fromqualifiedrenewableenergysources,orproducesfuelforthegeneration
65836580 205 ofelectricityfromqualifiedrenewableenergysources,butdoesnotinclude
65846581 206 anycompanythathasreceivedthealcoholmixturecredit,alcoholcredit,or
65856582 207 smallethanolproducercreditpursuantto26U.S.C.Section40ofthetaxcode
65866583 208 intheprevioustaxyear;
65876584 209 (c)Whichresearches,develops,ormanufacturespowersystem
65886585 210 technologyfor:aerospace;space;defense;hybridvehicles;orimplantableor
65896586 211 wearablemedicaldevices;or
65906587 212 (d)Whichisaclinicalmoleculardiagnosticlaboratoryfocusedon
65916588 213 detectingandmonitoringinfectionsinimmunocompromisedpatient
65926589 214 populations;
65936590 215 (33)"Withholdingtax",thestatetaximposedbysections143.191to
65946591 216 143.265.Forpurposesofthisprogram,thewithholdingtaxshallbecomputed
65956592 217 usingascheduleasdeterminedbythedepartmentbasedonaveragewages.]
65966593 [620.1881.1.Thedepartmentofeconomicdevelopmentshallrespond
65976594 2 withinthirtydaystoacompanywhoprovidesanoticeofintentwitheitheran
65986595 3 approvalorarejectionofthenoticeofintent.Thedepartmentshallgive
65996596 4 preferencetoqualifiedcompaniesandprojectstargetedatanareaofthestate
66006597 5 whichhasrecentlybeenclassifiedasadisasterareabythefederalgovernment.
66016598 6 Failuretorespondonbehalfofthedepartmentofeconomicdevelopmentshall
66026599 7 resultinthenoticeofintentbeingdeemedanapprovalforthepurposesofthis
66036600 8 section.Aqualifiedcompanywhoisprovidedanapprovalforaprojectshall
66046601 9 beallowedabenefitasprovidedinthisprogramintheamountandduration
66056602 10 providedinthissection.Aqualifiedcompanymayreceiveadditionalperiods
66066603 11 forsubsequentnewjobsatthesamefacilityafterthefullinitialperiodifthe
66076604 12 minimumthresholdsaremetassetforthinsections620.1875to620.1890.
6608-HCS#2HB1007 164 13 Thereisnolimitonthenumberofperiodsaqualifiedcompanymay
6605+13 Thereisnolimitonthenumberofperiodsaqualifiedcompanymay
66096606 14 participateintheprogram,aslongastheminimumthresholdsareachieved
66106607 15 andthequalifiedcompanyprovidesthedepartmentwiththerequiredreporting
66116608 16 andisinpropercomplianceforthisprogramorotherstateprograms.A
66126609 17 qualifiedcompanymayelecttofileanoticeofintenttostartanewproject
66136610 18 periodconcurrentwithanexistingprojectperiodiftheminimumthresholds
66146611 19 areachievedandthequalifiedcompanyprovidesthedepartmentwiththe
66156612 20 requiredreportingandisinpropercomplianceforthisprogramandotherstate
66166613 21 programs;however,thequalifiedcompanymaynotreceiveanyfurtherbenefit
66176614 22 undertheoriginalapprovalforjobscreatedafterthedateofthenewnoticeof
66186615 23 intent,andanyjobscreatedbeforethenewnoticeofintentmaynotbe
66196616 24 includedasnewjobsforthepurposeofbenefitcalculationinrelationtothe
66206617 25 newapproval.Whenaqualifiedcompanyhasfiledandreceivedapprovalofa
66216618 26 noticeofintentandsubsequentlyfilesanothernoticeofintent,thedepartment
6622-27 shallapplythedefinitionofprojectfacilityundersubdivision(19)ofsection
6619+HCSHB1007 164 27 shallapplythedefinitionofprojectfacilityundersubdivision(19)ofsection
66236620 28 620.1878tothenewnoticeofintentaswellasallpreviouslyapprovednotices
66246621 29 ofintentandshalldeterminetheapplicationofthedefinitionsofnewjob,new
66256622 30 payroll,projectfacilitybaseemployment,andprojectfacilitybasepayroll
66266623 31 accordingly.
66276624 32 2.Notwithstandinganyprovisionoflawtothecontrary,anyqualified
66286625 33 companythatisawardedbenefitsunderthisprogrammaynotsimultaneously
66296626 34 receivetaxcreditsorexemptionsundersections135.100to135.150,sections
66306627 35 135.200to135.286,section135.535,orsections135.900to135.906atthe
66316628 36 sameprojectfacility.Thebenefitsavailabletothecompanyunderanyother
66326629 37 stateprogramsforwhichthecompanyiseligibleandwhichutilize
66336630 38 withholdingtaxfromthenewjobsofthecompanymustfirstbecreditedto
66346631 39 theotherstateprogrambeforethewithholdingretentionlevelapplicableunder
66356632 40 theMissouriqualityjobsactwillbegintoaccrue.Theseotherstateprograms
66366633 41 include,butarenotlimitedto,theMissouriworksjobstrainingprogramunder
66376634 42 sections620.800to620.809,therealpropertytaxincrementallocation
66386635 43 redevelopmentact,sections99.800to99.865,ortheMissouridowntownand
66396636 44 ruraleconomicstimulusactundersections99.915to99.980.Ifanyqualified
66406637 45 companyalsoparticipatesintheMissouriworksjobstrainingprogramin
66416638 46 sections620.800to620.809,thecompanyshallretainnowithholdingtax,but
66426639 47 thedepartmentshallissuearefundabletaxcreditforthefullamountofbenefit
66436640 48 allowedunderthissubdivision.Thecalendaryearannualmaximumamount
66446641 49 oftaxcreditswhichmaybeissuedtoaqualifyingcompanythatalso
66456642 50 participatesinthenewjobtrainingprogramshallbeincreasedbyanamount
66466643 51 equivalenttothewithholdingtaxretainedbythatcompanyunderthenewjobs
66476644 52 trainingprogram.However,ifthecombinedbenefitsofthequalityjobs
66486645 53 programandthenewjobstrainingprogramexceedtheprojectedstatebenefit
66496646 54 oftheproject,asdeterminedbythedepartmentofeconomicdevelopment
66506647 55 throughacost-benefitanalysis,theincreaseinthemaximumtaxcreditsshall
66516648 56 belimitedtotheamountthatwouldnotcausethecombinedbenefitstoexceed
66526649 57 theprojectedstatebenefit.Anytaxpayerwhoisawardedbenefitsunderthis
66536650 58 programwhoknowinglyhiresindividualswhoarenotallowedtoworklegally
66546651 59 intheUnitedStatesshallimmediatelyforfeitsuchbenefitsandshallrepaythe
6655-HCS#2HB1007 165 60 stateanamountequaltoanystatetaxcreditsalreadyredeemedandany
6652+60 stateanamountequaltoanystatetaxcreditsalreadyredeemedandany
66566653 61 withholdingtaxesalreadyretained.
66576654 62 3.Thetypesofprojectsandtheamountofbenefitstobeprovidedare:
66586655 63 (1)Smallandexpandingbusinessprojects:inexchangeforthe
66596656 64 considerationprovidedbythenewtaxrevenuesandothereconomicstimuli
66606657 65 thatwillbegeneratedbythenewjobscreatedbytheprogram,aqualified
66616658 66 companymayretainanamountequaltothewithholdingtaxascalculated
66626659 67 undersubdivision(33)ofsection620.1878fromthenewjobsthatwould
66636660 68 otherwisebewithheldandremittedbythequalifiedcompanyunderthe
66646661 69 provisionsofsections143.191to143.265foraperiodofthreeyearsfromthe
66656662 70 datetherequirednumberofnewjobswerecreatediftheaveragewageofthe
66666663 71 newpayrollequalsorexceedsthecountyaveragewageorforaperiodoffive
66676664 72 yearsfromthedatetherequirednumberofnewjobswerecreatedifthe
66686665 73 averagewageofthenewpayrollequalsorexceedsonehundredtwenty
66696666 74 percentofthecountyaveragewage;
6670-75 (2)Technologybusinessprojects:inexchangefortheconsideration
6667+HCSHB1007 165 75 (2)Technologybusinessprojects:inexchangefortheconsideration
66716668 76 providedbythenewtaxrevenuesandothereconomicstimulithatwillbe
66726669 77 generatedbythenewjobscreatedbytheprogram,aqualifiedcompanymay
66736670 78 retainanamountequaltoamaximumoffivepercentofnewpayrollfora
66746671 79 periodoffiveyearsfromthedatetherequirednumberofjobswerecreated
66756672 80 fromthewithholdingtaxofthenewjobsthatwouldotherwisebewithheldand
66766673 81 remittedbythequalifiedcompanyundertheprovisionsofsections143.191to
66776674 82 143.265iftheaveragewageofthenewpayrollequalsorexceedsthecounty
66786675 83 averagewage.Anadditionalone-halfpercentofnewpayrollmaybeaddedto
66796676 84 thefivepercentmaximumiftheaveragewageofthenewpayrollinanyyear
66806677 85 exceedsonehundredtwentypercentofthecountyaveragewageinthecounty
66816678 86 inwhichtheprojectfacilityislocated,plusanadditionalone-halfpercentof
66826679 87 newpayrollmaybeaddediftheaveragewageofthenewpayrollinanyyear
66836680 88 exceedsonehundredfortypercentoftheaveragewageinthecountyinwhich
66846681 89 theprojectfacilityislocated.Thedepartmentshallissuearefundabletax
66856682 90 creditforanydifferencebetweentheamountofbenefitallowedunderthis
66866683 91 subdivisionandtheamountofwithholdingtaxretainedbythecompany,inthe
66876684 92 eventthewithholdingtaxisnotsufficienttoprovidetheentireamountof
66886685 93 benefitduetothequalifiedcompanyunderthissubdivision;
66896686 94 (3)Highimpactprojects:inexchangefortheconsiderationprovided
66906687 95 bythenewtaxrevenuesandothereconomicstimulithatwillbegeneratedby
66916688 96 thenewjobscreatedbytheprogram,aqualifiedcompanymayretainan
66926689 97 amountfromthewithholdingtaxofthenewjobsthatwouldotherwisebe
66936690 98 withheldandremittedbythequalifiedcompanyundertheprovisionsof
66946691 99 sections143.191to143.265,equaltothreepercentofnewpayrollforaperiod
66956692 100 offiveyearsfromthedatetherequirednumberofjobswerecreatedifthe
66966693 101 averagewageofthenewpayrollequalsorexceedsthecountyaveragewageof
66976694 102 thecountyinwhichtheprojectfacilityislocated.Forhigh-impactprojectsin
66986695 103 afacilitylocatedwithintwoadjacentcounties,thenewpayrollshallequalor
66996696 104 exceedthehighercountyaveragewageoftheadjacentcounties.The
67006697 105 percentageofpayrollallowedunderthissubdivisionshallbethreeandone-
67016698 106 halfpercentofnewpayrolliftheaveragewageofthenewpayrollinanyyear
67026699 107 exceedsonehundredtwentypercentofthecountyaveragewageinthecounty
6703-HCS#2HB1007 166 108 inwhichtheprojectfacilityislocated.Thepercentageofpayrollallowed
6700+108 inwhichtheprojectfacilityislocated.Thepercentageofpayrollallowed
67046701 109 underthissubdivisionshallbefourpercentofnewpayrolliftheaveragewage
67056702 110 ofthenewpayrollinanyyearexceedsonehundredfortypercentofthecounty
67066703 111 averagewageinthecountyinwhichtheprojectfacilityislocated.An
67076704 112 additionalonepercentofnewpayrollmaybeaddedtothesepercentagesif
67086705 113 localincentivesequalbetweentenpercentandtwenty-fourpercentofthenew
67096706 114 directlocalrevenue;anadditionaltwopercentofnewpayrollisaddedtothese
67106707 115 percentagesifthelocalincentivesequalbetweentwenty-fivepercentand
67116708 116 forty-ninepercentofthenewdirectlocalrevenue;oranadditionalthree
67126709 117 percentofpayrollisaddedtothesepercentagesifthelocalincentivesequal
67136710 118 fiftypercentormoreofthenewdirectlocalrevenue.Thedepartmentshall
67146711 119 issuearefundabletaxcreditforanydifferencebetweentheamountofbenefit
67156712 120 allowedunderthissubdivisionandtheamountofwithholdingtaxretainedby
67166713 121 thecompany,intheeventthewithholdingtaxisnotsufficienttoprovidethe
67176714 122 entireamountofbenefitduetothequalifiedcompanyunderthissubdivision;
6718-123 (4)Jobretentionprojects:aqualifiedcompanymayreceiveatax
6715+HCSHB1007 166 123 (4)Jobretentionprojects:aqualifiedcompanymayreceiveatax
67196716 124 creditfortheretentionofjobsinthisstate,providedthequalifiedcompanyand
67206717 125 theprojectmeetsallofthefollowingconditions:
67216718 126 (a)Foreachofthetwenty-fourmonthsprecedingtheyearinwhich
67226719 127 applicationfortheprogramismadethequalifiedcompanymusthave
67236720 128 maintainedatleastonethousandfull-timeemployeesattheemployer'ssitein
67246721 129 thestateatwhichthejobsarebased,andtheaveragewageofsuchemployees
67256722 130 mustmeetorexceedthecountyaveragewage;
67266723 131 (b)Thequalifiedcompanyretainedattheprojectfacilitythelevelof
67276724 132 full-timeemployeesthatexistedinthetaxableyearimmediatelyprecedingthe
67286725 133 yearinwhichapplicationfortheprogramismade;
67296726 134 (c)Thequalifiedcompanyisconsideredtohaveasignificant
67306727 135 statewideeffectontheeconomy,andhasbeendeterminedtorepresenta
67316728 136 substantialriskofrelocationfromthestatebythequalityjobsadvisorytask
67326729 137 forceestablishedinsection620.1887;provided,however,untilsuchtimeas
67336730 138 theinitialat-largemembersofthequalityjobsadvisorytaskforceare
67346731 139 appointed,thisdeterminationshallbemadebythedirectorofthedepartment
67356732 140 ofeconomicdevelopment;
67366733 141 (d)Thequalifiedcompanyintheprojectfacilitywillcausetobe
67376734 142 investedaminimumofseventymilliondollarsinnewinvestmentpriortothe
67386735 143 endoftwoyearsorwillcausetobeinvestedaminimumofthirtymillion
67396736 144 dollarsinnewinvestmentpriortotheendoftwoyearsandmaintainanannual
67406737 145 payrollofatleastseventymilliondollarsduringeachoftheyearsforwhicha
67416738 146 creditisclaimed;and
67426739 147 (e)Thelocaltaxingentitiesshallprovidelocalincentivesofatleast
67436740 148 fiftypercentofthenewdirectlocalrevenuescreatedbytheprojectoveraten-
67446741 149 yearperiod.
67456742 150
67466743 151 Thequalityjobsadvisorytaskforcemayrecommendtothedepartmentof
67476744 152 economicdevelopmentthatappropriatepenaltiesbeappliedtothecompany
67486745 153 forviolatingtheagreement.Theamountofthejobretentioncreditgranted
67496746 154 maybeequaltouptofiftypercentoftheamountofwithholdingtaxgenerated
67506747 155 bythefull-timejobsattheprojectfacilityforaperiodoffiveyears.The
6751-HCS#2HB1007 167 156 calendaryearannualmaximumamountoftaxcreditthatmaybeissuedtoany
6748+156 calendaryearannualmaximumamountoftaxcreditthatmaybeissuedtoany
67526749 157 qualifiedcompanyforajobretentionprojectorcombinationofjobretention
67536750 158 projectsshallbesevenhundredfiftythousanddollarsperyear,butthe
67546751 159 maximumamountmaybeincreaseduptoonemilliondollarsifsuchactionis
67556752 160 proposedbythedepartmentandapprovedbythequalityjobsadvisorytask
67566753 161 forceestablishedinsection620.1887;provided,however,untilsuchtimeas
67576754 162 theinitialat-largemembersofthequalityjobsadvisorytaskforceare
67586755 163 appointed,thisdeterminationshallbemadebythedirectorofthedepartment
67596756 164 ofeconomicdevelopment.Inconsideringsucharequest,thetaskforceshall
67606757 165 relyoneconomicmodelingandotherinformationsuppliedbythedepartment
67616758 166 whenrequestingtheincreasedlimitonbehalfofthejobretentionproject.In
67626759 167 noeventshallthetotalamountofalltaxcreditsissuedfortheentirejob
67636760 168 retentionprogramunderthissubdivisionexceedthreemilliondollarsannually.
67646761 169 Notwithstandingtheabove,notaxcreditsshallbeissuedforjobretention
67656762 170 projectsapprovedbythedepartmentafterAugust30,2013;
6766-171 (5)Smallbusinessjobretentionandfloodsurvivorrelief:aqualified
6763+HCSHB1007 167 171 (5)Smallbusinessjobretentionandfloodsurvivorrelief:aqualified
67676764 172 companymayreceiveataxcreditundersections620.1875to620.1890forthe
67686765 173 retentionofjobsandfloodsurvivorreliefinthisstateforeachjobretained
67696766 174 overathree-yearperiod,providedthat:
67706767 175 (a)Thequalifiedcompanydidnotreceiveanystateorfederalbenefits,
67716768 176 incentives,ortaxrelieforabatementinlocatingitsfacilityinafloodplain;
67726769 177 (b)Thequalifiedcompanyandrelatedcompanieshavefewerthanone
67736770 178 hundredemployeesatthetimeapplicationfortheprogramismade;
67746771 179 (c)Theaveragewageofthequalifiedcompany'sandrelated
67756772 180 companies'employeesmustmeetorexceedthecountyaveragewage;
67766773 181 (d)Allofthequalifiedcompany'sandrelatedcompanies'facilitiesare
67776774 182 locatedinthisstate;
67786775 183 (e)Thefacilitiesattheprimarybusinesssiteinthisstatehavebeen
67796776 184 directlydamagedbyfloodwaterrisingabovethelevelofafivehundredyear
67806777 185 floodatleasttwoyears,butfewerthaneightyears,priortothetime
67816778 186 applicationismade;
67826779 187 (f)Thequalifiedcompanymadesignificanteffortstoprotectthe
67836780 188 facilitiespriortoanyimpendingdangerfromrisingfloodwaters;
67846781 189 (g)Foreachyearitreceivestaxcreditsundersections620.1875to
67856782 190 620.1890,thequalifiedcompanyandrelatedcompaniesretained,atthe
67866783 191 company'sfacilitiesinthisstate,atleasttheleveloffull-time,year-round
67876784 192 employeesthatexistedinthetaxableyearimmediatelyprecedingtheyearin
67886785 193 whichapplicationfortheprogramismade;and
67896786 194 (h)Intheyearsitreceivestaxcreditsundersections620.1875to
67906787 195 620.1890,thecompanycumulativelyinvestsatleasttwomilliondollarsin
67916788 196 capitalimprovementsinfacilitiesandequipmentlocatedatsuchfacilitiesthat
67926789 197 arenotlocatedwithinafivehundredyearfloodplainasdesignatedbythe
67936790 198 FederalEmergencyManagementAgency,andamendedfromtimetotime.
67946791 199 Theamountofthesmallbusinessjobretentionandfloodsurvivorreliefcredit
67956792 200 grantedmaybeequaltouptoonehundredpercentoftheamountof
67966793 201 withholdingtaxgeneratedbythefull-timejobsattheprojectfacilityfora
67976794 202 periodofthreeyears.Thecalendaryearannualmaximumamountoftaxcredit
67986795 203 thatmaybeissuedtoanyqualifiedcompanyforasmallbusinessjobretention
6799-HCS#2HB1007 168 204 andsurvivorreliefprojectshallbetwohundredfiftythousanddollarsperyear,
6796+204 andsurvivorreliefprojectshallbetwohundredfiftythousanddollarsperyear,
68006797 205 butthemaximumamountmaybeincreaseduptofivehundredthousand
68016798 206 dollarsifsuchactionisproposedbythedepartmentandapprovedbythe
68026799 207 qualityjobsadvisorytaskforceestablishedinsection620.1887.In
68036800 208 consideringsucharequest,thetaskforceshallrelyoneconomicmodeling
68046801 209 andotherinformationsuppliedbythedepartmentwhenrequestinganincrease
68056802 210 inthelimitonbehalfofthesmallbusinessjobretentionandfloodsurvivor
68066803 211 reliefproject.Innoeventshallthetotalamountofalltaxcreditsissuedforthe
68076804 212 entiresmallbusinessjobretentionandfloodsurvivorreliefprogramunderthis
68086805 213 subdivisionexceedfivehundredthousanddollarsannually.Notwithstanding
68096806 214 theprovisionsofthissubdivisiontothecontrary,notaxcreditsshallbeissued
68106807 215 forsmallbusinessjobretentionandfloodsurvivorreliefprojectsapprovedby
68116808 216 thedepartmentafterAugust30,2010.
68126809 217 4.Thequalifiedcompanyshallprovideanannualreportofthenumber
68136810 218 ofjobsandsuchotherinformationasmayberequiredbythedepartmentto
6814-219 documentthebasisforthebenefitsofthisprogram.Thedepartmentmay
6811+HCSHB1007 168 219 documentthebasisforthebenefitsofthisprogram.Thedepartmentmay
68156812 220 withholdtheapprovalofanybenefitsuntilitissatisfiedthatproper
68166813 221 documentationhasbeenprovided,andshallreducethebenefitstoreflectany
68176814 222 reductioninfull-timeemployeesornewpayroll.Uponapprovalbythe
68186815 223 department,thequalifiedcompanymaybegintheretentionofthewithholding
68196816 224 taxeswhenitreachestheminimumnumberofnewjobsandtheaveragewage
68206817 225 exceedsthecountyaveragewage.Taxcredits,ifany,maybeissuedupon
68216818 226 satisfactionbythedepartmentthatthequalifiedcompanyhasexceededthe
68226819 227 countyaveragewageandtheminimumnumberofnewjobs.Insuchannual
68236820 228 report,iftheaveragewageisbelowthecountyaveragewage,thequalified
68246821 229 companyhasnotmaintainedtheemployeeinsuranceasrequired,orifthe
68256822 230 numberofnewjobsisbelowtheminimum,thequalifiedcompanyshallnot
68266823 231 receivetaxcreditsorretainthewithholdingtaxforthebalanceofthebenefit
68276824 232 period.Inthecaseofaqualifiedcompanythatinitiallyfiledanoticeofintent
68286825 233 andreceivedanapprovalfromthedepartmentforhigh-impactbenefitsandthe
68296826 234 minimumnumberofnewjobsinanannualreportisbelowtheminimumfor
68306827 235 high-impactprojects,thecompanyshallnotreceivetaxcreditsforthebalance
68316828 236 ofthebenefitperiodbutmaycontinuetoretainthewithholdingtaxesifit
68326829 237 otherwisemeetstherequirementsofasmallandexpandingbusinessunderthis
68336830 238 program.
68346831 239 5.Themaximumcalendaryearannualtaxcreditsissuedfortheentire
68356832 240 programshallnotexceedeightymilliondollars.Notwithstandingany
68366833 241 provisionoflawtothecontrary,themaximumannualtaxcreditsauthorized
68376834 242 undersection135.535areherebyreducedfromtenmilliondollarstoeight
68386835 243 milliondollars,withthebalanceoftwomilliondollarstransferredtothis
68396836 244 program.Thereshallbenolimitontheamountofwithholdingtaxesthatmay
68406837 245 beretainedbyapprovedcompaniesunderthisprogram.
68416838 246 6.Thedepartmentshallallocatetheannualtaxcreditsbasedonthe
68426839 247 dateoftheapproval,reservingsuchtaxcreditsbasedonthedepartment'sbest
68436840 248 estimateofnewjobsandnewpayrolloftheproject,andtheotherfactorsinthe
68446841 249 determinationofbenefitsofthisprogram.However,theannualissuanceoftax
68456842 250 creditsissubjecttotheannualverificationoftheactualnewpayroll.The
68466843 251 allocationoftaxcreditsfortheperiodassignedtoaprojectshallexpireif,
6847-HCS#2HB1007 169 252 withintwoyearsfromthedateofcommencementofoperations,orapprovalif
6844+252 withintwoyearsfromthedateofcommencementofoperations,orapprovalif
68486845 253 applicable,theminimumthresholdshavenotbeenachieved.Thequalified
68496846 254 companymayretainauthorizedamountsfromthewithholdingtaxunderthis
68506847 255 sectiononcetheminimumnewjobsthresholdsaremetforthedurationofthe
68516848 256 projectperiod.Nobenefitsshallbeprovidedunderthisprogramuntilthe
68526849 257 qualifiedcompanymeetstheminimumnewjobsthresholds.Intheeventthe
68536850 258 qualifiedcompanydoesnotmeettheminimumnewjobthreshold,the
68546851 259 qualifiedcompanymaysubmitanewnoticeofintentorthedepartmentmay
68556852 260 provideanewapprovalforanewprojectofthequalifiedcompanyatthe
68566853 261 projectfacilityorotherfacilities.
68576854 262 7.Foraqualifiedcompanywithflow-throughtaxtreatmenttoits
68586855 263 members,partners,orshareholders,thetaxcreditshallbeallowedtomembers,
68596856 264 partners,orshareholdersinproportiontotheirshareofownershiponthelast
68606857 265 dayofthequalifiedcompany'staxperiod.
6861-266 8.Taxcreditsmaybeclaimedagainsttaxesotherwiseimposedby
6858+HCSHB1007 169 266 8.Taxcreditsmaybeclaimedagainsttaxesotherwiseimposedby
68626859 267 chapters143and148,andmaynotbecarriedforwardbutshallbeclaimed
68636860 268 withinoneyearofthecloseofthetaxableyearforwhichtheywereissued,
68646861 269 exceptasprovidedundersubdivision(4)ofsubsection3ofthissection.
68656862 270 9.Taxcreditsauthorizedbythissectionmaybetransferred,sold,or
68666863 271 assignedbyfilinganotarizedendorsementthereofwiththedepartmentthat
68676864 272 namesthetransferee,theamountoftaxcredittransferred,andthevalue
68686865 273 receivedforthecredit,aswellasanyotherinformationreasonablyrequested
68696866 274 bythedepartment.
68706867 275 10.Priortotheissuanceoftaxcredits,thedepartmentshallverify
68716868 276 throughthedepartmentofrevenue,oranyotherstatedepartment,thatthetax
68726869 277 creditapplicantdoesnotoweanydelinquentincome,sales,orusetaxor
68736870 278 interestorpenaltiesonsuchtaxes,oranydelinquentfeesorassessmentslevied
68746871 279 byanystatedepartmentandthroughthedepartmentofcommerceand
68756872 280 insurancethattheapplicantdoesnotoweanydelinquentinsurancetaxes.
68766873 281 Suchdelinquencyshallnotaffecttheauthorizationoftheapplicationforsuch
68776874 282 taxcredits,exceptthatatissuancecreditsshallbefirstappliedtothe
68786875 283 delinquencyandanyamountissuedshallbereducedbytheapplicant'stax
68796876 284 delinquency.Ifthedepartmentofrevenueorthedepartmentofcommerceand
68806877 285 insurance,oranyotherstatedepartment,concludesthatataxpayeris
68816878 286 delinquentafterJunefifteenthbutbeforeJulyfirstofanyyearandthe
68826879 287 applicationoftaxcreditstosuchdelinquencycausesataxdeficiencyonbehalf
68836880 288 ofthetaxpayertoarise,thenthetaxpayershallbegrantedthirtydaystosatisfy
68846881 289 thedeficiencyinwhichinterest,penalties,andadditionstotaxshallbetolled.
68856882 290 Afterapplyingallavailablecreditstowardataxdelinquency,theadministering
68866883 291 agencyshallnotifytheappropriatedepartmentandthatdepartmentshall
68876884 292 updatetheamountofoutstandingdelinquenttaxowedbytheapplicant.Ifany
68886885 293 creditsremainaftersatisfyingallinsurance,income,sales,andusetax
68896886 294 delinquencies,theremainingcreditsshallbeissuedtotheapplicant,subjectto
68906887 295 therestrictionsofotherprovisionsoflaw.
68916888 296 11.Exceptasprovidedundersubdivision(4)ofsubsection3ofthis
68926889 297 section,thedirectorofrevenueshallissuearefundtothequalifiedcompanyto
68936890 298 theextentthattheamountofcreditsallowedinthissectionexceedsthe
68946891 299 amountofthequalifiedcompany'sincometax.
6895-HCS#2HB1007 170 300 12.Anemployeeofaqualifiedcompanywillreceivefullcreditforthe
6892+300 12.Anemployeeofaqualifiedcompanywillreceivefullcreditforthe
68966893 301 amountoftaxwithheldasprovidedinsection143.211.
68976894 302 13.Ifanyprovisionofsections620.1875to620.1890orapplication
68986895 303 thereoftoanypersonorcircumstanceisheldinvalid,theinvalidityshallnot
68996896 304 affectotherprovisionsorapplicationofthesesectionswhichcanbegiven
69006897 305 effectwithouttheinvalidprovisionsorapplication,andtothisend,the
69016898 306 provisionsofsections620.1875to620.1890areherebydeclaredseverable.]
69026899 [620.1884.Thedepartmentmayadoptsuchrules,statementsofpolicy,
69036900 2 procedures,forms,andguidelinesasmaybenecessarytocarryoutthe
69046901 3 provisionsofsections620.1875to620.1890.Anyruleorportionofarule,as
69056902 4 thattermisdefinedinsection536.010,thatiscreatedundertheauthority
69066903 5 delegatedinthissectionshallbecomeeffectiveonlyifitcomplieswithandis
69076904 6 subjecttoalloftheprovisionsofchapter536and,ifapplicable,section
6908-7 536.028.Thissectionandchapter536arenonseverableandifanyofthe
6905+HCSHB1007 170 7 536.028.Thissectionandchapter536arenonseverableandifanyofthe
69096906 8 powersvestedwiththegeneralassemblypursuanttochapter536toreview,to
69106907 9 delaytheeffectivedate,ortodisapproveandannularulearesubsequently
69116908 10 heldunconstitutional,thenthegrantofrulemakingauthorityandanyrule
69126909 11 proposedoradoptedafterAugust28,2005,shallbeinvalidandvoid.]
69136910 [620.1887.Thereisherebycreatedavolunteertaskforce,tobeknown
69146911 2 asthe"QualityJobsAdvisoryTaskForce",whichshallconsistofthe
69156912 3 chairpersonoftheeconomicdevelopmentcommitteeoftheMissourisenateor
69166913 4 hisorherdesignee,amemberoftheeconomicdevelopmentcommitteeofthe
69176914 5 MissourisenateappointedbytheminorityleaderoftheMissourisenate,the
69186915 6 chairpersonoftheeconomicdevelopmentcommitteeoftheMissourihouseof
69196916 7 representativesorhisorherdesignee,amemberoftheeconomicdevelopment
69206917 8 committeeoftheMissourihouseofrepresentativesappointedbytheminority
69216918 9 leaderoftheMissourihouseofrepresentatives,thedirectorofthedepartment
69226919 10 ofeconomicdevelopmentorhisorherdesignee,andtwomemberstobe
69236920 11 appointedbythegovernorwiththeadviceandconsentofthesenate.]
69246921 [620.1890.PriortoMarchfirsteachyear,thedepartmentwillprovide
69256922 2 areportontheprogramtothegeneralassemblyincludingthenamesof
69266923 3 participatingcompanies,locationofsuchcompanies,theannualamountof
69276924 4 benefitsprovided,theestimatednetstatefiscalimpact(directandindirectnew
69286925 5 statetaxesderivedfromtheproject),thenumberofnewjobscreatedorjobs
69296926 6 retained,theaveragewagesofeachproject,andthetypesofqualified
69306927 7 companiesusingtheprogram.]
69316928 [620.2600.1.Thissectionshallbeknownandmaybecitedasthe
69326929 2 "InnovationCampusTaxCreditAct".
69336930 3 2.Asusedinthissection,thefollowingtermsmean:
69346931 4 (1)"Certificate",ataxcreditcertificateissuedunderthissection;
69356932 5 (2)"Department",theMissouridepartmentofeconomicdevelopment;
69366933 6 (3)"Eligibledonation",donationsreceivedfromataxpayerby
69376934 7 innovationcampusesthataretobeusedsolelyforprojectsthatadvance
69386935 8 learningintheareasofscience,technology,engineering,andmathematics.
6939-HCS#2HB1007 171 9 Eligibledonationsmayincludecash,publiclytradedstocksandbonds,and
6936+9 Eligibledonationsmayincludecash,publiclytradedstocksandbonds,and
69406937 10 realestatethatshallandwillbevaluedanddocumentedaccordingtotherules
69416938 11 promulgatedbythedepartmentofeconomicdevelopment;
69426939 12 (4)"Innovationeducationcampus"or"innovationcampus",asdefined
69436940 13 insection178.1100,aneducationalpartnershipconsistingofatleastoneof
69446941 14 eachofthefollowingentities:
69456942 15 (a)AlocalMissourihighschoolorK-12schooldistrict;
69466943 16 (b)AMissourifour-yearpublicorprivatehighereducationinstitution;
69476944 17 (c)AMissouri-basedbusinessorbusinesses;and
69486945 18 (d)AMissouritwo-yearpublichighereducationinstitutionorstate
69496946 19 technicalcollegeofMissouri;
69506947 20 (5)"Taxpayer",anyofthefollowingindividualsorentitieswhomake
69516948 21 aneligibledonationtoanyinnovationcampus:
6952-22 (a)Aperson,firm,partnerinafirm,corporation,orashareholderin
6949+HCSHB1007 171 22 (a)Aperson,firm,partnerinafirm,corporation,orashareholderin
69536950 23 anScorporationdoingbusinessinthestateofMissouriandsubjecttothestate
69546951 24 incometaximposedinchapter143;
69556952 25 (b)Acorporationsubjecttotheannualcorporationfranchisetax
69566953 26 imposedinchapter147;
69576954 27 (c)Aninsurancecompanypayinganannualtaxonitsgrosspremium
69586955 28 receiptsinthisstate;
69596956 29 (d)AnyotherfinancialinstitutionpayingtaxestothestateofMissouri
69606957 30 oranypoliticalsubdivisionsofthisstateunderchapter148;
69616958 31 (e)Anindividualsubjecttothestateincometaximposedinchapter
69626959 32 143;
69636960 33 (f)Anycharitableorganizationwhichisexemptfromfederalincome
69646961 34 taxandwhoseMissouriunrelatedbusinesstaxableincome,ifany,wouldbe
69656962 35 subjecttothestateincometaximposedunderchapter143.
69666963 36 3.ForalltaxableyearsbeginningonorafterJanuary1,2015,any
69676964 37 taxpayershallbeallowedacreditagainstthetaxesotherwisedueunder
69686965 38 chapters147,148,or143,excludingwithholdingtaximposedbysections
69696966 39 143.191to143.265,inanamountequaltofiftypercentoftheamountofan
69706967 40 eligibledonation,subjecttotherestrictionsinthissection.Theamountofthe
69716968 41 taxcreditclaimedshallnotexceedtheamountofthetaxpayer'sstateincome
69726969 42 taxliabilityinthetaxyearforwhichthecreditisclaimed.Anyamountof
69736970 43 creditthatthetaxpayerisprohibitedbythissectionfromclaiminginataxyear
69746971 44 shallnotberefundable,butmaybecarriedforwardtoanyofthetaxpayer's
69756972 45 foursubsequenttaxableyears.
69766973 46 4.Toclaimthecreditauthorizedinthissection,aninnovationcampus
69776974 47 maysubmittothedepartmentanapplicationforthetaxcreditauthorizedby
69786975 48 thissectiononbehalfoftaxpayers.Thedepartmentshallverifythatthe
69796976 49 innovationcampushassubmittedthefollowingitems:
69806977 50 (1)Avalidapplicationintheformandformatrequiredbythe
69816978 51 department;
69826979 52 (2)Astatementattestingtotheeligibledonationreceived,whichshall
69836980 53 includethenameandtaxpayeridentificationnumberoftheindividualor
69846981 54 taxpayermakingtheeligibledonation,theamountoftheeligibledonation,and
69856982 55 thedatetheeligibledonationwasreceivedbytheinnovationcampus;and
6986-HCS#2HB1007 172 56 (3)Paymentfromtheinnovationcampusequaltothevalueofthetax
6983+56 (3)Paymentfromtheinnovationcampusequaltothevalueofthetax
69876984 57 creditforwhichapplicationismade.
69886985 58
69896986 59 Iftheinnovationcampusapplyingforthetaxcreditmeetsallcriteriarequired
69906987 60 bythissubsection,thedepartmentshallissueacertificateintheappropriate
69916988 61 amount.
69926989 62 5.Taxcreditsissuedunderthissectionmaybeassigned,transferred,
69936990 63 sold,orotherwiseconveyed,andthenewownerofthetaxcreditshallhavethe
69946991 64 samerightsinthecreditasthetaxpayer.Wheneveracertificateisassigned,
69956992 65 transferred,sold,orotherwiseconveyed,anotarizedendorsementshallbe
69966993 66 filedwiththedepartmentspecifyingthenameandaddressofthenewownerof
69976994 67 thetaxcreditandthevalueofthecredit.
69986995 68 6.Thedepartmentmaypromulgaterulestoimplementtheprovisions
69996996 69 ofthissection.Anyruleorportionofarule,asthattermisdefinedinsection
7000-70 536.010,thatiscreatedundertheauthoritydelegatedinthissectionshall
6997+HCSHB1007 172 70 536.010,thatiscreatedundertheauthoritydelegatedinthissectionshall
70016998 71 becomeeffectiveonlyifitcomplieswithandissubjecttoalloftheprovisions
70026999 72 ofchapter536and,ifapplicable,section536.028.Thissectionandchapter
70037000 73 536arenonseverableandifanyofthepowersvestedwiththegeneral
70047001 74 assemblyunderandpursuanttochapter536toreview,todelaytheeffective
70057002 75 date,ortodisapproveandannularulearesubsequentlyheldunconstitutional,
70067003 76 thenthegrantofrulemakingauthorityandanyruleproposedoradoptedafter
70077004 77 August28,2014,shallbeinvalidandvoid.
70087005 78 7.Undersection23.253oftheMissourisunsetact:
70097006 79 (1)Theprogramauthorizedunderthissectionshallexpiresixyears
70107007 80 afterAugust28,2014,unlessreauthorizedbyanactofthegeneralassembly;
70117008 81 and
70127009 82 (2)Ifsuchprogramisreauthorized,theprogramauthorizedunderthis
70137010 83 sectionshallautomaticallysunsettwelveyearsafterAugust28,2014;and
70147011 84 (3)ThissectionshallterminateonSeptemberfirstofthecalendaryear
70157012 85 immediatelyfollowingthecalendaryearinwhichtheprogramauthorized
70167013 86 underthissectionissunset.]
70177014 âś”
7018-HCS#2HB1007 173
7015+HCSHB1007 173