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MO HB2101
Bill
Status
Introduced
2/10/2010
Primary Sponsor
Michael Brown
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AI Summary
- Reduces the minimum acreage requirement for an eligible project area from 75 acres to 40 acres under the Distressed Areas Land Assemblage Tax Credit Act
- Reduces the minimum acreage of eligible parcels an applicant must acquire within a project area from 50 acres to 30 acres
- Allows tax credits equal to 50 percent of acquisition costs and 100 percent of interest costs incurred over five years after acquiring eligible parcels in distressed areas
- Maintains the total aggregate tax credit cap of $95 million with an annual limit of $20 million in credits issued per year
- Requires 80 percent of the eligible project area to be located within a Missouri qualified census tract or distressed community as defined by state law
Legislative Description
Reduces the minimum number of acres required for an eligible project area in the Distressed Areas Land Assemblage Tax Credit Program
Last Action
Referred: Job Creation and Economic Development (H)
5/14/2010
Full Bill Text
No bill text available