MO SB481

Repeals and reenacts section 135.1150 establishing the "Residential Treatment Agency Tax Credit Act" and creates new section 135.1180 establishing the "Developmental Disability Care Provider Tax Credit Program."

Allows taxpayers to claim a tax credit equal to 50 percent of eligible donations made to qualified residential treatment agencies or developmental disability care providers, subject to the taxpayer's state income tax liability in that year.

Permits unused tax credits to be carried forward for up to four subsequent taxable years and allows credits to be assigned, transferred, or sold with notarized endorsement filed with the department.

Requires agencies and providers to apply to the Missouri Department of Social Services for tax credit certificates on behalf of donors, with submission of valid application, donation documentation, and payment equal to the tax credit value.

Reauthorizes the residential treatment agency tax credit program to sunset on August 28, 2015, and establishes the developmental disability care provider program with an initial sunset date of four years after August 28, 2012, unless reauthorized.