MO SB141

Repeals sections 135.800 and 135.802, RSMo, and enacts sections 135.800, 135.802, and 135.807 relating to tax credit accountability and campaign contribution restrictions.

Effective August 28, 2011, applicants for specified tax credits (agricultural product utilization, new generation cooperative incentive, business recruitment, entrepreneurial, low-income housing, redevelopment, and credits established after August 28, 2011) must provide a sworn statement that they have not contributed to any committee in the two years preceding application and will not contribute for two years following receipt of credits.

Prohibits recipients of the specified tax credits from contributing, directly or indirectly, to any committee for two calendar years following the date of filing the required statement.

Tax credits issued to recipients found to have made prohibited contributions within two calendar years before or after filing the statement are subject to recapture, requiring repayment of redeemed credits.

The Attorney General must enforce these provisions and receive annual reports from administering agencies containing all tax credit applications and related information by December 31st of each year.