MO HB1501

Increases the Distressed Areas Land Assemblage Tax Credit aggregate cap from $95 million to $48 million and extends the authorization deadline from August 28, 2013 to August 28, 2020.

Extends the maintenance cost period for eligible parcels from 5 years to 12 years after acquisition and allows for affiliated company acquisitions and site planning costs.

Modifies low-income housing tax credit provisions by adjusting annual caps for non-bond-financed projects ($130 million in 2015, declining to $110 million by 2019) and limits carryback eligibility for credits authorized after July 1, 2015.

Establishes the Missouri Export Incentive Act providing air export tax credits of 40 cents per chargeable kilo (adjusted annually for fuel costs) with a $60 million aggregate cap and authorization ending June 30, 2022.

Creates new tax incentive programs including data storage center sales tax exemptions (up to 15 years) and the Missouri Angel Investment Incentive Act providing 50% tax credits on qualified investments in emerging knowledge-based companies (expiring December 31, 2024).