MO SB647

Creates the "Capitol Complex Revitalization Fund" in the state treasury to be funded by transfers from the general revenue fund based on estimated additional state tax revenues from historic preservation tax credits.

Designates fund money for the Division of Facilities Management, Design, and Construction to renovate and restore the state capitol, governor's mansion, and supreme court building, and to convert the Missouri Department of Transportation building at 105 West Capitol Avenue into a capitol annex.

Establishes that fund money does not revert to the general revenue fund at the end of each biennium, allowing balance carryover for ongoing revitalization work.

Requires the Department of Economic Development to estimate additional state tax revenues from historic preservation credits and transfer those estimated amounts from the general revenue fund to the Capitol Complex Revitalization Fund, beginning in fiscal year 2015, until $50 million is accumulated.

Modifies historic preservation tax credit caps: reduces the annual approval limit to $50 million for fiscal years 2013 and beyond (until $50 million is transferred), and increases cost thresholds for qualifying projects from 5% to 15% of total project costs or $1 million to $3 million.