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MO HB480
Bill
Status
Introduced
2/10/2011
Primary Sponsor
Michael Brown
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AI Summary
- Reduces the minimum size 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 that an applicant must acquire within the eligible project area from 50 acres to 30 acres
- Maintains all other program requirements including the 80% location requirement in qualified census tracts or distressed communities and the four or more parcels per acre density requirement
- Preserves existing tax credit benefits of 50% of acquisition costs and 100% of interest costs for a five-year period following parcel acquisition
- Keeps the total aggregate cap of $95 million in tax credits and $20 million annual issuance limit unchanged
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
Public Hearing Completed (H)
4/19/2011
Committee Referrals
Economic Development4/12/2011
Full Bill Text
No bill text available