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MO SB63
Bill
Status
Introduced
1/9/2013
Primary Sponsor
Eric Schmitt
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AI Summary
- Repeals and reenacts section 135.800, RSMo, to expand the "Tax Credit Accountability Act of 2004" to include all tax credit programs created by statute on or after August 28, 2013
- Expands the definition of "all tax credit programs" to require any new tax credit program created after August 28, 2013, to be assigned by the department of economic development to one of ten existing tax credit categories
- Defines ten categories of tax credits: agricultural, business recruitment, community development, domestic and social, entrepreneurial, environmental, financial and insurance, housing, redevelopment, and training and educational
- Requires the administering agency designated in each tax credit program's enacting statute to oversee the program, with the Department of Revenue serving as the default administering agency if none is specified
- Makes technical corrections to references in the enhanced enterprise zone statute, changing section 135.975 to 135.970 and historic preservation tax credit statute, changing section 253.561 to 253.559
Legislative Description
Requires all tax credit programs created on or after August 28, 2013, to comply with the Tax Credit Accountability Act of 2004
Last Action
Hearing Conducted S Jobs, Economic Development and Local Government Committee
2/6/2013
Committee Referrals
Jobs, Economic Development And Local Government1/17/2013
Full Bill Text
No bill text available