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MO HB674

Bill

Official Source

Status

Introduced

2/24/2011

Primary Sponsor

Michael Corcoran

Click for details

Origin

House of Representatives

2011 Regular Session

AI Summary

  • Repeals and replaces section 137.1018, RSMo, regarding tax credits for freight line companies
  • Allows freight line companies a tax credit equal to eligible expenses incurred in the preceding calendar year for manufacturing, maintaining, or improving qualified rolling stock (freight, stock, refrigerator, or other railcars)
  • Tax credit cannot exceed the company's liability for the tax levied under this section for the applicable tax year
  • State shall reimburse political subdivisions annually for any revenue decreases resulting from the tax credit, subject to appropriation
  • Program expires on August 28, 2020, with the section terminating on September 1, 2021

Legislative Description

Extends the expiration date for tax credits allowed against a freight line company's property taxes for eligible expenses incurred on qualified rolling stock in Missouri to August 28, 2020

Last Action

Public Hearing Completed (H)

3/29/2011

Committee Referrals

Economic Development3/3/2011

Full Bill Text

No bill text available