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MO SCR20

Concurrent Resolution

Official Source

Status

Introduced

2/8/2012

Primary Sponsor

Mike Parson

Click for details

Origin

Senate

2012 Regular Session

AI Summary

  • Grants the Department of Economic Development authority to approve qualified equity investments under the Missouri New Markets Development Program without exceeding tax credit limitations in section 135.680(2)
  • Sets the current fiscal year cap on the program at $25 million in tax credits
  • Establishes that for every $10 million in annual credits claimed, $125 million in qualified equity investment is generated
  • Authority applies to the next fiscal year and the partial fiscal year following until the program sunset date in section 135.680(7)
  • Requires the Secretary of the Missouri Senate to prepare and deliver an inscribed copy to Governor Jay Nixon

Legislative Description

Authorizes the Department of Economic Development to approve certain investments under the New Markets Development Program

Last Action

Resolutions Calendar - Reported from Committee--SCR 20-Rupp

5/18/2012

Committee Referrals

Rules, Joint Rules, Resolutions & Ethics2/9/2012

Full Bill Text

No bill text available