MO HB1669

Allows taxpayers to claim a tax credit equal to 50% of eligible expenses exceeding $1 million for establishing full-service grocery stores in food deserts.

Defines food deserts as census tracts with poverty rates of at least 20% or median family income below 80% of statewide average, with at least 500 people or 33% of population located at least half a mile from a full-service grocery store in urban areas or 10 miles in rural areas.

Caps annual tax credit claims at $2.5 million per taxpayer with a total program cap of $25 million per calendar year; unused credits may be carried forward for up to 3 years.

Requires taxpayers to complete construction within 5 years and operate the grocery store for at least 10 consecutive years or repay all issued credits plus a reasonable rate of return.

Program automatically sunsets 6 years after August 28, 2014, unless reauthorized by the General Assembly, with subsequent reauthorizations sunsetting 12 years later.