MO SB682

Reduces minimum eligible project area from 75 acres to 40 acres and minimum eligible parcels from 50 acres to 30 acres that applicants must acquire to qualify for tax credits.

Provides tax credits equal to 50% of acquisition costs and 100% of interest costs incurred over 5 years for land assemblage in distressed areas and qualified census tracts.

Limits total aggregate tax credits to $95 million with annual cap of $20 million; no credits authorized after August 28, 2013, though previously authorized credits may still be issued.

Requires applicant designation as redeveloper by municipal authority under economic incentive law and limits applicant redevelopment to 75% of project area, with remainder developed by co-redevelopers.

Allows transfer and sale of tax credits to other entities, with credits usable to offset state income and corporate tax liabilities for up to 6 years if not fully used in year earned.