SB 548 Summary

• Repeals and replaces 17 tax credit program sections, including property tax credits, housing credits, adoption credits, and historic preservation credits with updated provisions and sunset dates

• Extends sunset dates for multiple tax credit programs to 2015-2018 (including residential treatment agency, developmental disability care provider, and pregnancy resource center credits)

• Modifies eligibility requirements and delinquency verification procedures for tax credit applicants, requiring remediation of delinquencies before authorization rather than allowing credits to offset delinquencies

• Reduces carryback and carryforward periods for historic rehabilitation tax credits from ten years back/three years forward to five years forward/one year back for post-effective date credits

• Creates new "Developmental Disability Care Provider Tax Credit Program" (section 135.1180) allowing 50% tax credits for donations to qualifying care providers beginning January 1, 2012