MO SB144

Imposes a 12-month moratorium beginning on the effective date prohibiting authorization of new tax credits under section 100.286 (development and reserve fund, infrastructure development fund, and export finance fund tax credits), with an annual cap of $10 million and maximum cap of $25 million during the moratorium period.

Imposes a 12-month moratorium beginning on the effective date prohibiting authorization of new tax credits under sections 135.350 to 135.363 (Missouri low-income housing tax credits), with a $6 million annual cap for tax-exempt bond-financed projects.

Allows the commissioner of administration, director of economic development, and director of revenue to jointly exceed the $10 million annual authorization cap for section 100.286 credits only to ensure retention or attraction of investment in Missouri, but in no case may authorizations exceed $25 million annually.

Permits the same three officials to jointly exceed the $6 million annual authorization cap for low-income housing tax credits only to ensure retention or attraction of investment in Missouri, but in no case may authorizations exceed $25 million annually.

Declares the act an emergency measure effective upon passage and approval due to the need to ensure adequate state funding for necessary services.