| 11 | | - | SectionA.Sections135.305,135.686,135.772,135.775,135.778,135.1610, |
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| 12 | | - | 2137.1018,348.436,348.491,and348.493,RSMo,arerepealedandninenewsectionsenacted |
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| 13 | | - | 3inlieuthereof,tobeknownassections135.305,135.686,135.772,135.775,135.778, |
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| 14 | | - | 4135.1610,137.1018,348.491,and348.493,toreadasfollows: |
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| 15 | | - | 135.305.AMissouriwoodenergyproducershallbeeligibleforataxcreditontaxes |
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| 16 | | - | 2otherwisedueunderchapter143,exceptsections143.191to143.261,asaproduction |
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| 17 | | - | 3incentivetoproduceprocessedwoodproductsinaqualifiedwood-producingfacilityusing |
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| 18 | | - | 4Missouriforestproductresidue.Thetaxcredittothewoodenergyproducershallbefive |
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| 19 | | - | 5dollarspertonofprocessedmaterial.Thecreditmaybeclaimedforaperiodoffiveyears |
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| 20 | | - | 6andistobeataxcreditagainstthetaxotherwisedue.[Nonewtaxcredits,providedforunder |
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| 21 | | - | 7sections135.300to135.311,shallbeauthorizedafterJune30,2028.] Innoeventshallthe |
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| 22 | | - | 8aggregateamountofalltaxcreditsallowedundersections135.300to135.311exceedsix |
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| 23 | | - | 9milliondollarsinanygivenfiscalyear.Thereshallbenotaxcreditsauthorizedunder |
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| 24 | | - | 10sections135.300to135.311unlessanappropriationismadeforsuchtaxcredits. |
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| 25 | | - | 135.686.1.Thissectionshallbeknownandmaybecitedasthe"MeatProcessing |
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| 26 | | - | 2FacilityInvestmentTaxCreditAct". |
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| 27 | | - | 3 2.Asusedinthissection,thefollowingtermsmean: |
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| 28 | | - | 4 (1)"Authority",theagriculturalandsmallbusinessdevelopmentauthority |
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| 29 | | - | 5establishedinchapter348; |
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| 30 | | - | EXPLANATION—Matterenclosedinbold-facedbrackets[thus] intheabovebillisnotenactedandis |
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| 31 | | - | intendedtobeomittedfromthelaw.Matterinbold-facetypeintheabovebillisproposedlanguage. 6 (2)"Meatprocessingfacility",anycommercialplant,asdefinedundersection |
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| 32 | | - | 7265.300,atwhichlivestockareslaughteredoratwhichmeatormeatproductsareprocessed |
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| 33 | | - | 8forsalecommerciallyandforhumanconsumption; |
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| 34 | | - | 9 (3)"Meatprocessingmodernizationorexpansion",constructing,improving,or |
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| 35 | | - | 10acquiringbuildingsorfacilities,oracquiringequipmentformeatprocessingincludingthe |
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| 36 | | - | 11following,ifusedexclusivelyformeatprocessingandifacquiredandplacedinserviceinthis |
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| 37 | | - | 12stateduringtaxyearsbeginningonorafterJanuary1,2017[, butendingonorbefore |
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| 38 | | - | 13December31,2028]: |
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| 39 | | - | 14 (a)Buildingconstructionincludinglivestockhandling,productintake,storage,and |
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| 40 | | - | 15warehousefacilities; |
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| 41 | | - | 16 (b)Buildingadditions; |
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| 42 | | - | 17 (c)Upgradestoutilitiesincludingwater,electric,heat,refrigeration,freezing,and |
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| 43 | | - | 18wastefacilities; |
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| 44 | | - | 19 (d)Livestockintakeandstorageequipment; |
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| 45 | | - | 20 (e)Processingandmanufacturingequipmentincludingcuttingequipment,mixers, |
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| 46 | | - | 21grinders,sausagestuffers,meatsmokers,curingequipment,cookingequipment,pipes, |
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| 47 | | - | 22motors,pumps,andvalves; |
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| 48 | | - | 23 (f)Packagingandhandlingequipmentincludingsealing,bagging,boxing,labeling, |
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| 49 | | - | 24conveying,andproductmovementequipment; |
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| 50 | | - | 25 (g)Warehouseequipmentincludingstorageandcuringracks; |
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| 51 | | - | 26 (h)Wastetreatmentandwastemanagementequipmentincludingtanks,blowers, |
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| 52 | | - | 27separators,dryers,digesters,andequipmentthatuseswastetoproduceenergy,fuel,or |
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| 53 | | - | 28industrialproducts; |
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| 54 | | - | 29 (i)Computersoftwareandhardwareusedformanagingtheclaimant'smeat |
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| 55 | | - | 30processingoperationincludingsoftwareandhardwarerelatedtologistics,inventory |
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| 56 | | - | 31management,productionplantcontrols,andtemperaturemonitoringcontrols;and |
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| 57 | | - | 32 (j)Constructionorexpansionofretailfacilitiesorthepurchaseorupgradeofretail |
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| 58 | | - | 33equipmentforthecommercialsaleofmeatproductsiftheretailfacilityislocatedatthesame |
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| 59 | | - | 34locationasthemeatprocessingfacility; |
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| 60 | | - | 35 (4)"Taxcredit",acreditagainstthetaxotherwisedueunderchapter143,excluding |
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| 61 | | - | 36withholdingtaximposedundersections143.191to143.265,orotherwisedueunderchapter |
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| 62 | | - | 37147orchapter148; |
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| 63 | | - | 38 (5)"Taxpayer",anyindividualorentitywho: |
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| 64 | | - | 39 (a)Issubjecttothetaximposedunderchapter143,excludingwithholdingtax |
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| 65 | | - | 40imposedundersections143.191to143.265,orthetaximposedunderchapter147orchapter |
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| 66 | | - | 41148; |
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| 67 | | - | HCSHB1317 2 42 (b)Inthecaseofanindividual,isaresidentofthisstateasverifiedbya911address |
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| 68 | | - | 43or,intheabsenceofa911system,aphysicaladdress;and |
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| 69 | | - | 44 (c)Ownsameatprocessingfacilitylocatedinthisstateandemploysacombinedtotal |
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| 70 | | - | 45offewerthanfivehundredindividualsinallmeatprocessingfacilitiesownedbythe |
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| 71 | | - | 46individualorentityinthiscountry; |
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| 72 | | - | 47 (6)"Usedexclusively",usedtotheexclusionofallotherusesexceptforusenot |
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| 73 | | - | 48exceedingfivepercentoftotaluse. |
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| 74 | | - | 49 3.ForalltaxyearsbeginningonorafterJanuary1,2017,[butendingonorbefore |
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| 75 | | - | 50December31,2028,] ataxpayershallbeallowedataxcreditformeatprocessing |
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| 76 | | - | 51modernizationorexpansionrelatedtothetaxpayer'smeatprocessingfacility.Thetaxcredit |
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| 77 | | - | 52amountshallbeequaltotwenty-fivepercentoftheamountthetaxpayerpaidinthetaxyear |
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| 78 | | - | 53formeatprocessingmodernizationorexpansion. |
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| 79 | | - | 54 4.Theamountofthetaxcreditclaimedshallnotexceedtheamountofthetaxpayer's |
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| 80 | | - | 55statetaxliabilityforthetaxyearforwhichthecreditisclaimed.Notaxcreditclaimedunder |
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| 81 | | - | 56thissectionshallberefundable.Thetaxcreditshallbeclaimedinthetaxyearinwhichthe |
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| 82 | | - | 57meatprocessingmodernizationorexpansionexpenseswerepaid,butanyamountofcredit |
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| 83 | | - | 58thatthetaxpayerisprohibitedbythissectionfromclaiminginataxyearmaybecarried |
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| 84 | | - | 59forwardtoanyofthetaxpayer'sfoursubsequenttaxyears.Thetotalamountoftaxcredits |
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| 85 | | - | 60thatanytaxpayermayclaimshallnotexceedseventy-fivethousanddollarsperyear.Iftwoor |
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| 86 | | - | 61morepersonsownandoperatethemeatprocessingfacility,eachpersonmayclaimacredit |
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| 87 | | - | 62underthissectioninproportiontosuchperson'sownershipinterest;exceptthat,theaggregate |
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| 88 | | - | 63amountofthecreditsclaimedbyallpersonswhoownandoperatethemeatprocessing |
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| 89 | | - | 64facilityshallnotexceedseventy-fivethousanddollarsperyear.Theamountoftaxcredits |
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| 90 | | - | 65authorizedinthissectioninacalendaryearshallnotexceedtwomilliondollars.Taxcredits |
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| 91 | | - | 66shallbeissuedonanas-receivedapplicationbasisuntilthecalendaryearlimitisreached. |
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| 92 | | - | 67Anycreditsnotissuedinanycalendaryearshallexpireandshallnotbeissuedinany |
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| 93 | | - | 68subsequentyear. |
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| 94 | | - | 69 5.Toclaimthetaxcreditallowedunderthissection,thetaxpayershallsubmittothe |
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| 95 | | - | 70authorityanapplicationforthetaxcreditonaformprovidedbytheauthorityandany |
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| 96 | | - | 71applicationfeeimposedbytheauthority.Theapplicationshallbefiledwiththeauthorityat |
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| 97 | | - | 72theendofeachcalendaryearinwhichameatprocessingmodernizationorexpansionproject |
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| 98 | | - | 73wascompletedandforwhichataxcreditisclaimedunderthissection.Theapplicationshall |
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| 99 | | - | 74includeanycertifieddocumentation,proofofmeatprocessingmodernizationorexpansion, |
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| 100 | | - | 75andanyotherinformationrequiredbytheauthority.Allrequiredinformationobtainedbythe |
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| 101 | | - | 76authorityshallbeconfidentialandnotdisclosedexceptbycourtorder,subpoena,oras |
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| 102 | | - | 77otherwiseprovidedbylaw.Ifthetaxpayerandthemeatprocessingmodernizationor |
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| 103 | | - | 78expansionmeetallcriteriarequiredbythissectionandapprovalisgrantedbytheauthority, |
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| 104 | | - | HCSHB1317 3 79theauthorityshallissueataxcreditcertificateintheappropriateamount.Taxcredit |
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| 105 | | - | 80certificatesissuedunderthissectionmaybeassigned,transferred,sold,orotherwise |
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| 106 | | - | 81conveyed,andthenewownerofthetaxcreditcertificateshallhavethesamerightsinthetax |
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| 107 | | - | 82creditastheoriginaltaxpayer.Ifataxcreditcertificateisassigned,transferred,sold,or |
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| 108 | | - | 83otherwiseconveyed,anotarizedendorsementshallbefiledwiththeauthorityspecifyingthe |
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| 109 | | - | 84nameandaddressofthenewownerofthetaxcreditcertificateandthevalueofthetaxcredit. |
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| 110 | | - | 85 6.Anyinformationprovidedunderthissectionshallbeconfidentialinformation,to |
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| 111 | | - | 86besharedwithnooneexceptstateandfederalanimalhealthofficials,exceptasprovidedin |
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| 112 | | - | 87subsection5ofthissection. |
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| 113 | | - | 88 7.Theauthorityshallpromulgaterulesestablishingaprocessforverifyingthata |
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| 114 | | - | 89facility'smodernizationorexpansionforwhichtaxcreditswereallowedunderthissection |
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| 115 | | - | 90hasinfactexpandedthefacility'sproductionwithinthreeyearsoftheissuanceofthetax |
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| 116 | | - | 91creditandifnot,theauthorityshallpromulgatethroughrulemakingaprocessbywhichthe |
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| 117 | | - | 92taxpayershallrepaytheauthorityanamountequaltothatofthetaxcreditallowed. |
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| 118 | | - | 93 8.Theauthorityshall,atleastannually,submitareporttotheMissourigeneral |
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| 119 | | - | 94assemblyreviewingthecostsandbenefitsoftheprogramestablishedunderthissection. |
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| 120 | | - | 95 9.Theauthoritymaypromulgaterulestoimplementtheprovisionsofthissection. |
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| 121 | | - | 96Anyruleorportionofarule,asthattermisdefinedinsection536.010,thatiscreatedunder |
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| 122 | | - | 97theauthoritydelegatedinthissectionshallbecomeeffectiveonlyifitcomplieswithandis |
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| 123 | | - | 98subjecttoalloftheprovisionsofchapter536and,ifapplicable,section536.028.Thissection |
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| 124 | | - | 99andchapter536arenonseverableandifanyofthepowersvestedwiththegeneralassembly |
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| 125 | | - | 100pursuanttochapter536toreview,todelaytheeffectivedate,ortodisapproveandannula |
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| 126 | | - | 101rulearesubsequentlyheldunconstitutional,thenthegrantofrulemakingauthorityandany |
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| 127 | | - | 102ruleproposedoradoptedafterAugust28,2016,shallbeinvalidandvoid. |
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| 128 | | - | 103 10.ThissectionshallnotbesubjecttotheMissourisunsetact,sections23.250to |
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| 129 | | - | 10423.298. |
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| 130 | | - | 135.772.1.Forthepurposesofthissection,thefollowingtermsshallmean: |
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| 131 | | - | 2 (1)"Department",theMissouridepartmentofrevenue; |
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| 132 | | - | 3 (2)"Distributor",aperson,firm,orcorporationdoingbusinessinthisstatethat: |
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| 133 | | - | 4 (a)Produces,refines,blends,compounds,ormanufacturesmotorfuel; |
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| 134 | | - | 5 (b)Importsmotorfuelintothestate;or |
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| 135 | | - | 6 (c)Isengagedindistributionofmotorfuel; |
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| 136 | | - | 7 (3)"Higherethanolblend",afuelcapableofbeingdispenseddirectlyintomotor |
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| 137 | | - | 8vehiclefueltanksforconsumptionthatiscomprisedofatleastfifteenpercentbutnotmore |
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| 138 | | - | 9thaneighty-fivepercentethanol; |
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| 139 | | - | 10 (4)"Retaildealer",aperson,firm,orcorporationdoingbusinessinthisstatethat |
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| 140 | | - | 11ownsoroperatesaretailservicestationinthisstate; |
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| 141 | | - | HCSHB1317 4 12 (5)"Retailservicestation",alocationinthisstatefromwhichhigherethanolblendis |
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| 142 | | - | 13soldtothegeneralpublicandisdispenseddirectlyintomotorvehiclefueltanksfor |
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| 143 | | - | 14consumption. |
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| 144 | | - | 15 2.ForalltaxyearsbeginningonorafterJanuary1,2023,aretaildealerthatsells |
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| 145 | | - | 16higherethanolblendatsuchretaildealer'sretailservicestationoradistributorthatsells |
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| 146 | | - | 17higherethanolblenddirectlytothefinaluserlocatedinthisstateshallbeallowedataxcredit |
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| 147 | | - | 18tobetakenagainsttheretaildealer'sordistributor'sstateincometaxliability.Theamountof |
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| 148 | | - | 19thecreditshallequalfivecentspergallonofhigherethanolblendsoldbytheretaildealerand |
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| 149 | | - | 20dispensedthroughmeteredpumpsattheretaildealer'sretailservicestationorbyadistributor |
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| 150 | | - | 21directlytothefinaluserlocatedinthisstateduringthetaxyearforwhichthetaxcreditis |
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| 151 | | - | 22claimed.ForanyretaildealerordistributorwithataxyearbeginningpriortoJanuary1, |
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| 152 | | - | 232023,butendingduringthe2023calendaryear,suchretaildealerordistributorshallbe |
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| 153 | | - | 24allowedataxcreditfortheamountofhigherethanolblendsoldduringtheportionofsuchtax |
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| 154 | | - | 25yearthatoccursduringthe2023calendaryear.Taxcreditsauthorizedpursuanttothissection |
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| 155 | | - | 26shallnotbetransferred,sold,orassigned.Iftheamountofthetaxcreditexceedsthe |
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| 156 | | - | 27taxpayer'sstatetaxliability,thedifferenceshallnotberefundablebutmaybecarriedforward |
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| 157 | | - | 28toanyofthefivesubsequenttaxyears.Thetotalamountoftaxcreditsissuedpursuanttothis |
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| 158 | | - | 29sectionforanygivenfiscalyearshallnotexceedfivemilliondollars. |
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| 159 | | - | 30 3.Intheeventthetotalamountoftaxcreditsclaimedunderthissectionexceedsthe |
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| 160 | | - | 31amountofavailabletaxcredits,thetaxcreditsshallbeapportionedamongalleligibleretail |
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| 161 | | - | 32dealersanddistributorsclaimingataxcreditbyAprilfifteenth,orasdirectedbysection |
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| 162 | | - | 33143.851,ofthefiscalyearinwhichthetaxcreditisclaimed. |
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| 163 | | - | 34 4.Thetaxcreditallowedbythissectionshallbeclaimedbysuchtaxpayeratthetime |
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| 164 | | - | 35suchtaxpayerfilesareturnandshallbeappliedagainsttheincometaxliabilityimposedby |
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| 165 | | - | 36chapter143,excludingthewithholdingtaximposedbysections143.191to143.265,after |
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| 166 | | - | 37reductionforallothercreditsallowedthereon.Thedepartmentmayrequireany |
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| 167 | | - | 38documentationitdeemsnecessarytoimplementtheprovisionsofthissection. |
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| 168 | | - | 39 5.Thedepartmentshallpromulgaterulestoimplementtheprovisionsofthissection. |
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| 169 | | - | 40Anyruleorportionofarule,asthattermisdefinedinsection536.010,thatiscreatedunder |
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| 170 | | - | 41theauthoritydelegatedinthissectionshallbecomeeffectiveonlyifitcomplieswithandis |
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| 171 | | - | 42subjecttoalloftheprovisionsofchapter536and,ifapplicable,section536.028.Thissection |
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| 172 | | - | 43andchapter536arenonseverableandifanyofthepowersvestedwiththegeneralassembly |
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| 173 | | - | 44pursuanttochapter536toreview,todelaytheeffectivedate,ortodisapproveandannula |
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| 174 | | - | 45rulearesubsequentlyheldunconstitutional,thenthegrantofrulemakingauthorityandany |
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| 175 | | - | 46ruleproposedoradoptedafterJanuary2,2023,shallbeinvalidandvoid. |
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| 176 | | - | 47 [6.Undersection23.253oftheMissourisunsetact: |
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| 177 | | - | HCSHB1317 5 48 (1)TheprovisionsofthissectionshallautomaticallysunsetonDecember31,2028, |
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| 178 | | - | 49unlessreauthorizedbyanactofthegeneralassembly;and |
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| 179 | | - | 50 (2)Ifsuchprogramisreauthorized,theprogramauthorizedunderthissectionshall |
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| 180 | | - | 51automaticallysunsettwelveyearsaftertheeffectivedateofthereauthorizationofthissection; |
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| 181 | | - | 52and |
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| 182 | | - | 53 (3)ThissectionshallterminateonSeptemberfirstofthecalendaryearimmediately |
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| 183 | | - | 54followingthecalendaryearinwhichtheprogramauthorizedunderthissectionissunset.] |
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| 10 | + | SectionA.Section135.775,RSMo,isrepealedandonenewsectionenactedinlieu |
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| 11 | + | 2thereof,tobeknownassection135.775,toreadasfollows: |
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| 240 | | - | 57 7.Intheeventataxpayerisdeniedpartorallofataxcredittowhichthe |
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| 241 | | - | 58taxpayerisqualifiedpursuanttoanyprovisionoflawduetolackofavailablefunds,and |
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| 242 | | - | 59suchdenialcausesabalance-duenoticetobegeneratedbythedepartmentofrevenueor |
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| 243 | | - | 60anyotherredeemingagency,ataxpayershallnotbeheldliableforanypenaltyor |
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| 244 | | - | 61interestonsuchbalancedue,providedthebalanceispaidorapprovedpayment |
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| 245 | | - | 62arrangementshavebeenmadewithinsixtydaysfromthenoticeofdenial.Any |
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| 246 | | - | 63paymentsnottimelymadepursuanttothissectionshallbesubjecttopenaltyand |
|---|
| 247 | | - | 64interestpursuanttothischapter. |
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| 248 | | - | 65 8.Thedepartmentshallpromulgaterulestoimplementandadministertheprovisions |
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| 249 | | - | 66ofthissection.Anyruleorportionofarule,asthattermisdefinedinsection536.010,thatis |
|---|
| 250 | | - | 67createdpursuanttotheauthoritydelegatedinthissectionshallbecomeeffectiveonlyifit |
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| 251 | | - | HCSHB1317 7 68complieswithandissubjecttoalloftheprovisionsofchapter536and,ifapplicable,section |
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| 252 | | - | 69536.028.Thissectionandchapter536arenonseverableandifanyofthepowersvestedwith |
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| 253 | | - | 70thegeneralassemblypursuanttochapter536toreview,todelaytheeffectivedate,orto |
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| 254 | | - | 71disapproveandannularulearesubsequentlyheldunconstitutional,thenthegrantof |
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| 255 | | - | 72rulemakingauthorityandanyruleproposedoradoptedafterJanuary2,2023,shallbeinvalid |
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| 256 | | - | 73andvoid. |
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| 257 | | - | 74 [8.Undersection23.253oftheMissourisunsetact: |
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| 258 | | - | 75 (1)Theprovisionsofthenewprogramauthorizedunderthissectionshall |
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| 259 | | - | 76automaticallysunsetonDecember31,2028,unlessreauthorizedbyanactofthegeneral |
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| 260 | | - | 77assembly; |
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| 261 | | - | 78 (2)Ifsuchprogramisreauthorized,theprogramauthorizedunderthissectionshall |
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| 262 | | - | 79automaticallysunsettwelveyearsaftertheeffectivedateofthereauthorizationofthissection; |
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| 263 | | - | 80and |
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| 264 | | - | 81 (3)ThissectionshallterminateonSeptemberfirstofthecalendaryearimmediately |
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| 265 | | - | 82followingthecalendaryearinwhichtheprogramauthorizedunderthissectionissunset.The |
|---|
| 266 | | - | 83terminationoftheprogramasdescribedinthissubsectionshallnotbeconstruedtopreclude |
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| 267 | | - | 84anyqualifiedtaxpayerwhoclaimsanybenefitunderanyprogramthatissunsetunderthis |
|---|
| 268 | | - | 85subsectionfromclaimingsuchbenefitforallallowableactivitiesrelatedtosuchclaimthat |
|---|
| 269 | | - | 86werecompletedbeforetheprogramwassunsetortoeliminateanyresponsibilityofthe |
|---|
| 270 | | - | 87departmenttoverifythecontinuedeligibilityofqualifiedindividualsreceivingtaxcreditsand |
|---|
| 271 | | - | 88toenforceotherrequirementsoflawthatappliedbeforetheprogramwassunset.] |
|---|
| 272 | | - | 135.778.1.Forthepurposesofthissection,thefollowingtermsshallmean: |
|---|
| 273 | | - | 2 (1)"Biodieselfuel",arenewable,biodegradable,monoalkylestercombustibleliquid |
|---|
| 274 | | - | 3fuelthatisderivedfromagriculturalandotherplantoilsoranimalfatsandthatmeetsthe |
|---|
| 275 | | - | 4mostrecentversionoftheASTMInternationalD6751StandardSpecificationforBiodiesel |
|---|
| 276 | | - | 5FuelBlendStock.Afuelshallbedeemedtobebiodieselfuelifthefuelconsistsofapure |
|---|
| 277 | | - | 6B100orB99ratio.Biodieselproducedfrompalmoilisnotbiodieselfuelforthepurposesof |
|---|
| 278 | | - | 7thissectionunlessthepalmoiliscontainedwithinwasteoilandgreasecollectedwithinthe |
|---|
| 279 | | - | 8UnitedStates; |
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| 280 | | - | 9 (2)"B99",ablendofninety-ninepercentbiodieselfuelthatmeetsthemostrecent |
|---|
| 281 | | - | 10versionoftheASTMInternationalD6751StandardSpecificationforBiodieselFuelBlend |
|---|
| 282 | | - | 11Stockwithaminimumofone-tenthofonepercentandmaximumofonepercentdieselfuel |
|---|
| 283 | | - | 12thatmeetsthemostrecentversionoftheASTMInternationalD975StandardSpecification |
|---|
| 284 | | - | 13forDieselFuel; |
|---|
| 285 | | - | 14 (3)"Department",theMissouridepartmentofrevenue; |
|---|
| 286 | | - | 15 (4)"Missouribiodieselproducer",aperson,firm,orcorporationdoingbusinessin |
|---|
| 287 | | - | 16thisstatethatproducesbiodieselfuelinthisstate,isregisteredwiththeUnitedStates |
|---|
| 288 | | - | HCSHB1317 8 17EnvironmentalProtectionAgencyaccordingtotherequirementsof40CFRPart79,andhas |
|---|
| 289 | | - | 18begunconstructiononsuchfacilityorhasbeensellingbiodieselfuelproducedatsuchfacility |
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| 290 | | - | 19onorbeforeJanuary2,2023. |
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| 291 | | - | 20 2.ForalltaxyearsbeginningonorafterJanuary1,2023,aMissouribiodiesel |
|---|
| 292 | | - | 21producershallbeallowedataxcredittobetakenagainsttheproducer'sstateincometax |
|---|
| 293 | | - | 22liability.ForanyMissouribiodieselproducerwithataxyearbeginningpriortoJanuary1, |
|---|
| 294 | | - | 232023,butendingduringthe2023calendaryear,suchMissouribiodieselproducershallbe |
|---|
| 295 | | - | 24allowedataxcreditfortheamountofbiodieselfuelproducedduringtheportionofsuchtax |
|---|
| 296 | | - | 25yearthatoccursduringthe2023calendaryear.Theamountofthetaxcreditshallbetwo |
|---|
| 297 | | - | 26centspergallonofbiodieselfuelproducedbytheMissouribiodieselproducerduringthetax |
|---|
| 298 | | - | 27yearforwhichthetaxcreditisclaimed. |
|---|
| 299 | | - | 28 3.Taxcreditsauthorizedunderthissectionshallnotbetransferred,sold,orassigned. |
|---|
| 300 | | - | 29Iftheamountofthetaxcreditexceedsthetaxpayer'sstatetaxliability,thedifferenceshallbe |
|---|
| 301 | | - | 30refundable.Thetotalamountoftaxcreditsissuedunderthissectionforanygivenfiscalyear |
|---|
| 302 | | - | 31shallnotexceedfivemillionfivehundredthousanddollars,whichshallbeauthorizedona |
|---|
| 303 | | - | 32first-come,first-servedbasis. |
|---|
| 304 | | - | 33 4.Thetaxcreditauthorizedunderthissectionshallbeclaimedbysuchtaxpayerat |
|---|
| 305 | | - | 34thetimesuchtaxpayerfilesareturnandshallbeappliedagainsttheincometaxliability |
|---|
| 306 | | - | 35imposedbychapter143,excludingthewithholdingtaximposedbysections143.191to |
|---|
| 307 | | - | 36143.265,afterreductionforallothercreditsallowedthereon.Thedepartmentmayrequire |
|---|
| 308 | | - | 37anydocumentationitdeemsnecessarytoadministertheprovisionsofthissection. |
|---|
| 309 | | - | 38 5.Thedepartmentshallpromulgaterulestoimplementandadministertheprovisions |
|---|
| 310 | | - | 39ofthissection.Anyruleorportionofarule,asthattermisdefinedinsection536.010,thatis |
|---|
| 311 | | - | 40createdpursuanttotheauthoritydelegatedinthissectionshallbecomeeffectiveonlyifit |
|---|
| 312 | | - | 41complieswithandissubjecttoalloftheprovisionsofchapter536and,ifapplicable,section |
|---|
| 313 | | - | 42536.028.Thissectionandchapter536arenonseverableandifanyofthepowersvestedwith |
|---|
| 314 | | - | 43thegeneralassemblypursuanttochapter536toreview,todelaytheeffectivedate,orto |
|---|
| 315 | | - | 44disapproveandannularulearesubsequentlyheldunconstitutional,thenthegrantof |
|---|
| 316 | | - | 45rulemakingauthorityandanyruleproposedoradoptedafterJanuary2,2023,shallbeinvalid |
|---|
| 317 | | - | 46andvoid. |
|---|
| 318 | | - | 47 [6.Undersection23.253oftheMissourisunsetact: |
|---|
| 319 | | - | 48 (1)Theprovisionsofthenewprogramauthorizedunderthissectionshall |
|---|
| 320 | | - | 49automaticallysunsetonDecember31,2028,unlessreauthorizedbyanactofthegeneral |
|---|
| 321 | | - | 50assembly; |
|---|
| 322 | | - | 51 (2)Ifsuchprogramisreauthorized,theprogramauthorizedunderthissectionshall |
|---|
| 323 | | - | 52automaticallysunsettwelveyearsaftertheeffectivedateofthereauthorizationofthissection; |
|---|
| 324 | | - | 53and |
|---|
| 325 | | - | HCSHB1317 9 54 (3)ThissectionshallterminateonSeptemberfirstofthecalendaryearimmediately |
|---|
| 326 | | - | 55followingthecalendaryearinwhichtheprogramauthorizedunderthissectionissunset.The |
|---|
| 327 | | - | 56terminationoftheprogramasdescribedinthissubsectionshallnotbeconstruedtopreclude |
|---|
| 328 | | - | 57anyqualifiedtaxpayerwhoclaimsanybenefitunderanyprogramthatissunsetunderthis |
|---|
| 329 | | - | 58subsectionfromclaimingsuchbenefitforallallowableactivitiesrelatedtosuchclaimthat |
|---|
| 330 | | - | 59werecompletedbeforetheprogramwassunset,ortoeliminateanyresponsibilityofthe |
|---|
| 331 | | - | 60departmenttoverifythecontinuedeligibilityofqualifiedindividualsreceivingtaxcreditsand |
|---|
| 332 | | - | 61toenforceotherrequirementsoflawthatappliedbeforetheprogramwassunset.] |
|---|
| 333 | | - | 135.1610.1.Asusedinthissection,thefollowingtermsmean: |
|---|
| 334 | | - | 2 (1)"Eligibleexpenses",expensesincurredintheconstructionordevelopmentof |
|---|
| 335 | | - | 3establishingorimprovinganurbanfarminanurbanarea.Thetermeligibleexpensesshall |
|---|
| 336 | | - | 4notincludeanyexpenseforlabororanyexpenseincurredtogrowmedicalmarijuanaor |
|---|
| 337 | | - | 5industrialhemp; |
|---|
| 338 | | - | 6 (2)"Taxcredit",acreditagainstthetaxotherwisedueunderchapter143,excluding |
|---|
| 339 | | - | 7withholdingtaximposedundersections143.191to143.265; |
|---|
| 340 | | - | 8 (3)"Taxpayer",anyindividual,partnership,orcorporationasdescribedundersection |
|---|
| 341 | | - | 9143.441or143.471thatissubjecttothetaximposedunderchapter143,excluding |
|---|
| 342 | | - | 10withholdingtaximposedundersections143.191to143.265,oranycharitableorganization |
|---|
| 343 | | - | 11thatisexemptfromfederalincometaxandwhoseMissouriunrelatedbusinesstaxable |
|---|
| 344 | | - | 12income,ifany,wouldbesubjecttothestateincometaximposedunderchapter143; |
|---|
| 345 | | - | 13 (4)"Urbanarea",anurbanizedareaasdefinedbytheUnitedStatesCensusBureau; |
|---|
| 346 | | - | 14 (5)"Urbanfarm",anagriculturalplotorfacilityinanurbanareathatproduces |
|---|
| 347 | | - | 15agriculturalfoodproductsusedsolelyfordistributiontothepublicbysaleordonation. |
|---|
| 348 | | - | 16Urbanfarmshallincludecommunity-rungardens.Urbanfarmshallnotincludepersonal |
|---|
| 349 | | - | 17farmsorresidentiallotsforpersonaluse. |
|---|
| 350 | | - | 18 2.ForalltaxyearsbeginningonorafterJanuary1,2023,ataxpayershallbeallowed |
|---|
| 351 | | - | 19toclaimataxcreditagainstthetaxpayer'sstatetaxliabilityinanamountequaltofiftypercent |
|---|
| 352 | | - | 20ofthetaxpayer'seligibleexpensesforestablishingorimprovinganurbanfarmthatfocuseson |
|---|
| 353 | | - | 21foodproduction. |
|---|
| 354 | | - | 22 3.Theamountofthetaxcreditclaimedshallnotexceedtheamountofthetaxpayer's |
|---|
| 355 | | - | 23statetaxliabilityinthetaxyearforwhichthecreditisclaimed,andthetaxpayershallnotbe |
|---|
| 356 | | - | 24allowedtoclaimataxcreditunderthissectioninexcessoffivethousanddollarsforeach |
|---|
| 357 | | - | 25urbanfarm.Thetotalamountoftaxcreditsthatmaybeauthorizedforalltaxpayersfor |
|---|
| 358 | | - | 26eligibleexpensesincurredonanygivenurbanfarmshallnotexceedtwenty-fivethousand |
|---|
| 359 | | - | 27dollars.Anyissuedtaxcreditthatcannotbeclaimedinthetaxyearinwhichtheeligible |
|---|
| 360 | | - | 28expenseswereincurredmaybecarriedovertothenextthreesucceedingtaxyearsuntilthe |
|---|
| 361 | | - | 29fullcreditisclaimed. |
|---|
| 362 | | - | HCSHB1317 10 30 4.Thetotalamountoftaxcreditsthatmaybeauthorizedunderthissectionshallnot |
|---|
| 363 | | - | 31exceedtwohundredthousanddollarsinanycalendaryear. |
|---|
| 364 | | - | 32 5.Taxcreditsissuedundertheprovisionsofthissectionshallnotbetransferred,sold, |
|---|
| 365 | | - | 33orassigned. |
|---|
| 366 | | - | 34 6.TheMissouriagriculturalandsmallbusinessdevelopmentauthorityshallrecapture |
|---|
| 367 | | - | 35theamountoftaxcreditsissuedtoanytaxpayerwho,afterreceivingsuchtaxcredit,usesthe |
|---|
| 368 | | - | 36urbanfarmforthepersonalbenefitofthetaxpayerinsteadofforproducingagriculturalfood |
|---|
| 369 | | - | 37productsusedsolelyfordistributiontothepublicbysaleordonation. |
|---|
| 370 | | - | 38 7.TheMissouriagriculturalandsmallbusinessdevelopmentauthoritymay |
|---|
| 371 | | - | 39promulgaterulestoimplementtheprovisionsofthissection.Anyruleorportionofarule,as |
|---|
| 372 | | - | 40thattermisdefinedinsection536.010,thatiscreatedundertheauthoritydelegatedinthis |
|---|
| 373 | | - | 41sectionshallbecomeeffectiveonlyifitcomplieswithandissubjecttoalloftheprovisionsof |
|---|
| 374 | | - | 42chapter536and,ifapplicable,section536.028.Thissectionandchapter536are |
|---|
| 375 | | - | 43nonseverableandifanyofthepowersvestedwiththegeneralassemblypursuanttochapter |
|---|
| 376 | | - | 44536toreview,todelaytheeffectivedate,ortodisapproveandannularulearesubsequently |
|---|
| 377 | | - | 45heldunconstitutional,thenthegrantofrulemakingauthorityandanyruleproposedor |
|---|
| 378 | | - | 46adoptedafterJanuary2,2023,shallbeinvalidandvoid. |
|---|
| 379 | | - | 47 [8.Undersection23.253oftheMissourisunsetact: |
|---|
| 380 | | - | 48 (1)Theprogramauthorizedunderthissectionshallautomaticallysunseton |
|---|
| 381 | | - | 49December31,2028,unlessreauthorizedbyanactofthegeneralassembly; |
|---|
| 382 | | - | 50 (2)Ifsuchprogramisreauthorized,theprogramauthorizedunderthissectionshall |
|---|
| 383 | | - | 51automaticallysunsetonDecemberthirty-firsttwelveyearsaftertheeffectivedateofthe |
|---|
| 384 | | - | 52reauthorizationofthissection; |
|---|
| 385 | | - | 53 (3)ThissectionshallterminateonSeptemberfirstofthecalendaryearimmediately |
|---|
| 386 | | - | 54followingthecalendaryearinwhichtheprogramauthorizedunderthissectionissunset;and |
|---|
| 387 | | - | 55 (4)Nothinginthissubsectionshallpreventataxpayerfromclaimingataxcredit |
|---|
| 388 | | - | 56properlyissuedbeforetheprogramwassunsetinataxyearaftertheprogramissunset.] |
|---|
| 389 | | - | 137.1018.1.Thecommissionshallascertainthestatewideaveragerateofproperty |
|---|
| 390 | | - | 2taxesleviedtheprecedingyear,baseduponthetotalassessedvaluationoftherailroadand |
|---|
| 391 | | - | 3streetrailwaycompaniesandthetotalpropertytaxesleviedupontherailroadandstreet |
|---|
| 392 | | - | 4railwaycompanies.Itshalldeterminetotalpropertytaxesleviedfromreportsprescribedby |
|---|
| 393 | | - | 5thecommissionfromtherailroadandstreetrailwaycompanies.Totaltaxesleviedshallnot |
|---|
| 394 | | - | 6includerevenuesfromthesurtaxonsubclassthreerealproperty. |
|---|
| 395 | | - | 7 2.Thecommissionshallreportitsdeterminationofaveragepropertytaxrateforthe |
|---|
| 396 | | - | 8precedingyear,togetherwiththetaxabledistributableassessedvaluationofeachfreightline |
|---|
| 397 | | - | 9companyforthecurrentyeartothedirectornolaterthanOctoberfirstofeachyear. |
|---|
| 398 | | - | HCSHB1317 11 10 3.Taxesonpropertyofsuchfreightlinecompaniesshallbecollectedatthestatelevel |
|---|
| 399 | | - | 11bythedirectoronbehalfofthecountiesandotherlocalpublictaxingentitiesandshallbe |
|---|
| 400 | | - | 12distributedinaccordancewithsections137.1021and137.1024.Thedirectorshalltaxsuch |
|---|
| 401 | | - | 13propertybaseduponthedistributableassessedvaluationattributabletoMissouriofeach |
|---|
| 402 | | - | 14freightlinecompany,usingtheaveragetaxratefortheprecedingyearoftherailroadand |
|---|
| 403 | | - | 15streetrailwaycompaniescertifiedbythecommission.Suchtaxshallbedueandpayableon |
|---|
| 404 | | - | 16orbeforeDecemberthirty-firstoftheyearleviedand,ifitbecomesdelinquent,shallbe |
|---|
| 405 | | - | 17subjecttoapenaltyequaltothatspecifiedinsection140.100. |
|---|
| 406 | | - | 18 4.(1)Asusedinthissubsection,thefollowingtermsmean: |
|---|
| 407 | | - | 19 (a)"Eligibleexpenses",expensesincurredinthisstatetomanufacture,maintain,or |
|---|
| 408 | | - | 20improveafreightlinecompany'squalifiedrollingstock; |
|---|
| 409 | | - | 21 (b)"Qualifiedrollingstock",anyfreight,stock,refrigerator,orotherrailcarssubject |
|---|
| 410 | | - | 22tothetaxleviedunderthissection. |
|---|
| 411 | | - | 23 (2)ForalltaxableyearsbeginningonorafterJanuary1,2009,afreightlinecompany |
|---|
| 412 | | - | 24shall,subjecttoappropriation,beallowedacreditagainstthetaxleviedunderthissectionfor |
|---|
| 413 | | - | 25theapplicabletaxyear.Thetaxcreditamountshallbeequaltotheamountofeligible |
|---|
| 414 | | - | 26expensesincurredduringthecalendaryearimmediatelyprecedingthetaxyearforwhichthe |
|---|
| 415 | | - | 27creditunderthissectionisclaimed.Theamountofthetaxcreditissuedshallnotexceedthe |
|---|
| 416 | | - | 28freightlinecompany'sliabilityforthetaxleviedunderthissectionforthetaxyearforwhich |
|---|
| 417 | | - | 29thecreditisclaimed. |
|---|
| 418 | | - | 30 (3)Afreightlinecompanymayapplyforthecreditbysubmittingtothecommission |
|---|
| 419 | | - | 31anapplicationintheformprescribedbythestatetaxcommission. |
|---|
| 420 | | - | 32 (4)Subjecttoappropriation,thestateshallreimburse,onanannualbasis,any |
|---|
| 421 | | - | 33politicalsubdivisionofthisstateforanydecreaseinrevenueduetotheprovisionsofthis |
|---|
| 422 | | - | 34subsection. |
|---|
| 423 | | - | 35 [5.Pursuanttosection23.253oftheMissourisunsetact: |
|---|
| 424 | | - | 36 (1)Theprogramauthorizedundersubsection4ofthissectionshallexpireonAugust |
|---|
| 425 | | - | 3728,2028;and |
|---|
| 426 | | - | 38 (2)Subsection4ofthissectionshallterminateonSeptember1,2029.] |
|---|
| 427 | | - | 348.491.1.Thissectionshallbeknownandmaybecitedasthe"Specialty |
|---|
| 428 | | - | 2AgriculturalCropsAct". |
|---|
| 429 | | - | 3 2.Asusedinthissection,thefollowingtermsmean: |
|---|
| 430 | | - | 4 (1)"Authority",theMissouriagriculturalandsmallbusinessdevelopmentauthority |
|---|
| 431 | | - | 5createdinsection348.020; |
|---|
| 432 | | - | 6 (2)"Familyfarmer",afarmerwhoisaMissouriresidentandwhohaslessthanone |
|---|
| 433 | | - | 7hundredthousanddollarsinagriculturalsalesperyear; |
|---|
| 434 | | - | 8 (3)"Lender",thesamedefinitionasinsection348.015; |
|---|
| 435 | | - | HCSHB1317 12 9 (4)"Specialtycrop",fruitsandvegetables,treenuts,driedfruits,andhorticultureand |
|---|
| 436 | | - | 10nurserycropsincluding,butnotlimitedto,floriculture.Specialtycropshallnotinclude |
|---|
| 437 | | - | 11medicalmarijuanaorindustrialhemp. |
|---|
| 438 | | - | 12 3.Theauthorityshallestablishaspecialtyagriculturalcropsloanprogramforfamily |
|---|
| 439 | | - | 13farmersforthepurchaseofspecialtycropseeds,seedlings,ortrees;soilamendments |
|---|
| 440 | | - | 14includingcompost;irrigationequipment;fencing;rowcovers;trellising;seasonextension |
|---|
| 441 | | - | 15equipment;refrigerationequipment;andequipmentforplantingandharvesting. |
|---|
| 442 | | - | 16 4.Toparticipateintheloanprogram,afamilyfarmershallfirstobtainapprovalfora |
|---|
| 443 | | - | 17specialtyagriculturalcropsloanfromalender.Eachfamilyfarmershallbeeligibleforonly |
|---|
| 444 | | - | 18onespecialtyagriculturalcropsloanperfamily. |
|---|
| 445 | | - | 19 5.Themaximumamountofthespecialtyagriculturalcropsloanforspecialtycrop |
|---|
| 446 | | - | 20producersshallbethirty-fivethousanddollars. |
|---|
| 447 | | - | 21 6.Eligibleborrowersundertheprogram: |
|---|
| 448 | | - | 22 (1)Shallusetheproceedsofthespecialtyagriculturalcropsloantoacquirethe |
|---|
| 449 | | - | 23farmingresourcesdescribedinsubsection3ofthissection; |
|---|
| 450 | | - | 24 (2)Shallnotfinancemorethanninetypercentoftheanticipatedcostofthepurchase |
|---|
| 451 | | - | 25ofsuchfarmingresourcesthroughthespecialtyagriculturalcropsloan;and |
|---|
| 452 | | - | 26 (3)Shallnotbechargedinterestbythelenderforthefirstyearofthequalified |
|---|
| 453 | | - | 27specialtyagriculturalcropsloan. |
|---|
| 454 | | - | 28 7.Uponapprovalofthespecialtyagriculturalcropsloanbyalenderundersubsection |
|---|
| 455 | | - | 294ofthissection,theloanshallbesubmittedforapprovalbytheauthority.Theauthorityshall |
|---|
| 456 | | - | 30promulgaterulesestablishingeligibilityunderthissection,takingintoconsideration: |
|---|
| 457 | | - | 31 (1)Theeligibleborrower'sabilitytorepaythespecialtyagriculturalcropsloan; |
|---|
| 458 | | - | 32 (2)Thegeneraleconomicconditionsoftheareainwhichthefarmislocated; |
|---|
| 459 | | - | 33 (3)Theprospectofafinancialreturnforthefamilyfarmerforthetypeoffarming |
|---|
| 460 | | - | 34resourceforwhichthespecialtyagriculturalcropsloanissought;and |
|---|
| 461 | | - | 35 (4)Suchotherfactorsastheauthoritymayestablish. |
|---|
| 462 | | - | 36 8.Foreligibleborrowersparticipatingintheprogram,theauthorityshallbe |
|---|
| 463 | | - | 37responsibleforreviewingthepurchasepriceofanyfarmingresourcestobepurchasedbyan |
|---|
| 464 | | - | 38eligibleborrowerundertheprogramtodeterminewhetherthepricetobepaidisappropriate |
|---|
| 465 | | - | 39forthetypeoffarmingresourcespurchased.Theauthoritymayimposeaone-timeloan |
|---|
| 466 | | - | 40reviewfeeofonepercent,whichshallbecollectedbythelenderatthetimeoftheloanand |
|---|
| 467 | | - | 41paidtotheauthority. |
|---|
| 468 | | - | 42 9.Nothinginthissectionshallbeconstruedtoprecludeafamilyfarmerfrom |
|---|
| 469 | | - | 43participatinginanyotheragriculturalprogram. |
|---|
| 470 | | - | 44 10.Anyruleorportionofarule,asthattermisdefinedinsection536.010,thatis |
|---|
| 471 | | - | 45createdundertheauthoritydelegatedinthissectionshallbecomeeffectiveonlyifitcomplies |
|---|
| 472 | | - | HCSHB1317 13 46withandissubjecttoalloftheprovisionsofchapter536and,ifapplicable,section536.028. |
|---|
| 473 | | - | 47Thissectionandchapter536arenonseverableandifanyofthepowersvestedwiththe |
|---|
| 474 | | - | 48generalassemblypursuanttochapter536toreview,todelaytheeffectivedate,orto |
|---|
| 475 | | - | 49disapproveandannularulearesubsequentlyheldunconstitutional,thenthegrantof |
|---|
| 476 | | - | 50rulemakingauthorityandanyruleproposedoradoptedafterJanuary2,2023,shallbeinvalid |
|---|
| 477 | | - | 51andvoid. |
|---|
| 478 | | - | 52 [11.Undersection23.253oftheMissourisunsetact: |
|---|
| 479 | | - | 53 (1)Theprovisionsofthenewprogramauthorizedunderthissectionshall |
|---|
| 480 | | - | 54automaticallysunsetonDecember31,2028,unlessreauthorizedbyanactofthegeneral |
|---|
| 481 | | - | 55assembly;and |
|---|
| 482 | | - | 56 (2)Ifsuchprogramisreauthorized,theprogramauthorizedunderthissectionshall |
|---|
| 483 | | - | 57automaticallysunsettwelveyearsaftertheeffectivedateofthereauthorizationofthissection; |
|---|
| 484 | | - | 58and |
|---|
| 485 | | - | 59 (3)ThissectionshallterminateonSeptemberfirstofthecalendaryearimmediately |
|---|
| 486 | | - | 60followingthecalendaryearinwhichtheprogramauthorizedunderthissectionissunset.] |
|---|
| 487 | | - | 348.493.1.Asusedinthissection,"statetaxliability"meansanystatetaxliability |
|---|
| 488 | | - | 2incurredbyataxpayerundertheprovisionsofchapter143,147,or148,exclusiveofthe |
|---|
| 489 | | - | 3provisionsrelatingtothewithholdingoftaxasprovidedforinsections143.191to143.265 |
|---|
| 490 | | - | 4andrelatedprovisions. |
|---|
| 491 | | - | 5 2.Anyeligiblelenderunderthespecialtyagriculturalcropsloanprogramunder |
|---|
| 492 | | - | 6section348.491shallbeentitledtoreceiveataxcreditequaltoonehundredpercentofthe |
|---|
| 493 | | - | 7amountofinterestwaivedbythelenderundersection348.491onaqualifyingloanforthe |
|---|
| 494 | | - | 8firstyearoftheloanonly.Thetaxcreditshallbeevidencedbyacertificateoftaxcredit |
|---|
| 495 | | - | 9issuedbytheMissouriagriculturalandsmallbusinessdevelopmentauthorityandmaybe |
|---|
| 496 | | - | 10usedtosatisfythestatetaxliabilityoftheownerofsuchcertificatethatbecomesdueinthe |
|---|
| 497 | | - | 11taxyearinwhichtheinterestonaqualifiedloaniswaivedbythelenderundersection |
|---|
| 498 | | - | 12348.491.Nolendershallreceiveataxcreditunderthissectionunlesssuchlenderpresentsa |
|---|
| 499 | | - | 13certificateoftaxcredittothedepartmentofrevenueforpaymentofsuchstatetaxliability. |
|---|
| 500 | | - | 14Theamountofthetaxcreditsthatmaybeissuedtoalleligiblelendersclaimingtaxcredits |
|---|
| 501 | | - | 15authorizedinthissectioninafiscalyearshallnotexceedthreehundredthousanddollars. |
|---|
| 502 | | - | 16 3.TheMissouriagriculturalandsmallbusinessdevelopmentauthorityshallbe |
|---|
| 503 | | - | 17responsiblefortheadministrationandissuanceofthecertificateoftaxcreditsauthorizedby |
|---|
| 504 | | - | 18thissection.Theauthorityshallissueacertificateoftaxcreditattherequestofanylender. |
|---|
| 505 | | - | 19Eachrequestshallincludeatruecopyoftheloandocuments,thenameofthelenderwhoisto |
|---|
| 506 | | - | 20receiveacertificateoftaxcredit,thetypeofstatetaxliabilityagainstwhichthetaxcreditisto |
|---|
| 507 | | - | 21beused,andtheamountofthecertificateoftaxcredittobeissuedtothelenderbasedonthe |
|---|
| 508 | | - | 22interestwaivedbythelenderundersection348.491ontheloanforthefirstyear. |
|---|
| 509 | | - | HCSHB1317 14 23 4.Thedepartmentofrevenueshallacceptacertificateoftaxcreditinlieuofother |
|---|
| 510 | | - | 24paymentinsuchamountasisequaltothelesseroftheamountofthetaxortheremaining |
|---|
| 511 | | - | 25unusedamountofthecreditasindicatedonthecertificateoftaxcreditandshallindicateon |
|---|
| 512 | | - | 26thecertificateoftaxcredittheamountoftaxtherebypaidandthedateofsuchpayment. |
|---|
| 513 | | - | 27 5.Thefollowingprovisionsshallapplytotaxcreditsauthorizedunderthissection: |
|---|
| 514 | | - | 28 (1)Taxcreditsclaimedinataxyearmaybeclaimedonaquarterlybasisandapplied |
|---|
| 515 | | - | 29totheestimatedquarterlytaxofthelender; |
|---|
| 516 | | - | 30 (2)Anyamountoftaxcreditthatexceedsthetaxdue,includinganyestimated |
|---|
| 517 | | - | 31quarterlytaxespaidbythelenderundersubdivision(1)ofthissubsectionthatresultinan |
|---|
| 518 | | - | 32overpaymentoftaxesforataxyear,shallnotberefundedbutmaybecarriedovertoany |
|---|
| 519 | | - | 33subsequenttaxyear,nottoexceedatotalofthreeyearsforwhichataxcreditmaybetaken |
|---|
| 520 | | - | 34foraqualifiedspecialtyagriculturalcropsloan; |
|---|
| 521 | | - | 35 (3)Notwithstandinganyprovisionoflawtothecontrary,alendermayassign, |
|---|
| 522 | | - | 36transfer,sell,orotherwiseconveytaxcreditsauthorizedunderthissection,withthenew |
|---|
| 523 | | - | 37ownerofthetaxcreditreceivingthesamerightsinthetaxcreditasthelender.Foranytax |
|---|
| 524 | | - | 38creditsassigned,transferred,sold,orotherwiseconveyed,anotarizedendorsementshallbe |
|---|
| 525 | | - | 39filedbythelenderwiththeauthorityspecifyingthenameandaddressofthenewownerofthe |
|---|
| 526 | | - | 40taxcreditandthevalueofsuchtaxcredit;and |
|---|
| 527 | | - | 41 (4)Notwithstandinganyotherprovisionofthissectiontothecontrary,any |
|---|
| 528 | | - | 42commercialbankmayusetaxcreditscreatedunderthissectionasprovidedinsection |
|---|
| 529 | | - | 43148.064andreceiveanettaxcreditagainsttaxesactuallypaidintheamountofthefirstyear's |
|---|
| 530 | | - | 44interestonloansmadeunderthissection.Ifsuchfirstyeartaxcreditsreducetaxesdueas |
|---|
| 531 | | - | 45providedinsection148.064tozero,theremainingtaxcreditsmaybecarriedoveras |
|---|
| 532 | | - | 46otherwiseprovidedinthissectionandusedasprovidedinsection148.064insubsequent |
|---|
| 533 | | - | 47years. |
|---|
| 534 | | - | 48 [6.Undersection23.253oftheMissourisunsetact: |
|---|
| 535 | | - | 49 (1)Theprovisionsofthenewprogramauthorizedunderthissectionshall |
|---|
| 536 | | - | 50automaticallysunsetonDecember31,2028,unlessreauthorizedbyanactofthegeneral |
|---|
| 537 | | - | 51assembly;and |
|---|
| 538 | | - | 52 (2)Ifsuchprogramisreauthorized,theprogramauthorizedunderthissectionshall |
|---|
| 539 | | - | 53automaticallysunsettwelveyearsaftertheeffectivedateofthereauthorizationofthissection; |
|---|
| 540 | | - | 54and |
|---|
| 541 | | - | 55 (3)ThissectionshallterminateonSeptemberfirstofthecalendaryearimmediately |
|---|
| 542 | | - | 56followingthecalendaryearinwhichtheprogramauthorizedunderthissectionissunset.] |
|---|
| 543 | | - | HCSHB1317 15 [348.436.Theprovisionsofsections348.430to348.436shallexpire |
|---|
| 544 | | - | 2 December31,2028.] |
|---|
| 69 | + | 57 7.Thedepartmentshallpromulgaterulestoimplementandadministertheprovisions |
|---|
| 70 | + | 58ofthissection.Anyruleorportionofarule,asthattermisdefinedinsection536.010,thatis |
|---|
| 71 | + | 59createdpursuanttotheauthoritydelegatedinthissectionshallbecomeeffectiveonlyifit |
|---|
| 72 | + | 60complieswithandissubjecttoalloftheprovisionsofchapter536and,ifapplicable,section |
|---|
| 73 | + | 61536.028.Thissectionandchapter536arenonseverableandifanyofthepowersvestedwith |
|---|
| 74 | + | 62thegeneralassemblypursuanttochapter536toreview,todelaytheeffectivedate,orto |
|---|
| 75 | + | 63disapproveandannularulearesubsequentlyheldunconstitutional,thenthegrantof |
|---|
| 76 | + | 64rulemakingauthorityandanyruleproposedoradoptedafterJanuary2,2023,shallbeinvalid |
|---|
| 77 | + | 65andvoid. |
|---|
| 78 | + | 66 8.Undersection23.253oftheMissourisunsetact: |
|---|
| 79 | + | 67 (1)Theprovisionsofthenewprogramauthorizedunderthissectionshall |
|---|
| 80 | + | 68automaticallysunsetonDecember31,2028,unlessreauthorizedbyanactofthegeneral |
|---|
| 81 | + | 69assembly; |
|---|
| 82 | + | 70 (2)Ifsuchprogramisreauthorized,theprogramauthorizedunderthissectionshall |
|---|
| 83 | + | 71automaticallysunsettwelveyearsaftertheeffectivedateofthereauthorizationofthissection; |
|---|
| 84 | + | 72and |
|---|
| 85 | + | 73 (3)ThissectionshallterminateonSeptemberfirstofthecalendaryearimmediately |
|---|
| 86 | + | 74followingthecalendaryearinwhichtheprogramauthorizedunderthissectionissunset.The |
|---|
| 87 | + | 75terminationoftheprogramasdescribedinthissubsectionshallnotbeconstruedtopreclude |
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| 88 | + | 76anyqualifiedtaxpayerwhoclaimsanybenefitunderanyprogramthatissunsetunderthis |
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| 89 | + | 77subsectionfromclaimingsuchbenefitforallallowableactivitiesrelatedtosuchclaimthat |
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| 90 | + | 78werecompletedbeforetheprogramwassunsetortoeliminateanyresponsibilityofthe |
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| 91 | + | 79departmenttoverifythecontinuedeligibilityofqualifiedindividualsreceivingtaxcreditsand |
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| 92 | + | 80toenforceotherrequirementsoflawthatappliedbeforetheprogramwassunset. |
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