MO HB1798

Allows taxpayers to claim a tax credit for costs of materials and labor incurred in constructing or improving data centers, effective for taxable years beginning January 1, 2010.

Tax credit cannot exceed the taxpayer's state tax liability for the year claimed; excess amounts may be carried forward for up to three subsequent taxable years but are not refundable.

Tax credits cannot be transferred, sold, or assigned to other parties.

Department of Revenue is authorized to promulgate rules implementing the tax credit provisions, subject to Missouri's rulemaking procedures under chapter 536.

Program automatically sunsets on December 31 six years after the effective date unless reauthorized by the General Assembly; if reauthorized, sunsets twelve years after reauthorization.