MO HB1479

Reduces the minimum eligible project area size from 75 acres to 40 acres for the Distressed Areas Land Assemblage Tax Credit Program

Reduces the minimum eligible parcels that must be acquired by applicants from 50 acres to 30 acres within the eligible project area

Applicants remain eligible for tax credits of 50% of acquisition costs and 100% of interest costs incurred over five years after parcel acquisition

Total aggregate tax credit authorization remains capped at $95 million with annual issuance limits of $20 million

Program requires 80% of eligible project area to be located within qualified census tracts or distressed communities and limits applicant redevelopment to 75% of the total area