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MO SB729

Bill

Status

Passed

7/7/2014

Primary Sponsor

Gary Romine

Click for details

Origin

Senate

2014 Regular Session

AI Summary

  • Extends the deadline for new wood energy producer tax credits from June 30, 2013 to June 30, 2020, with a maximum aggregate annual cap of $6 million, requiring appropriation authorization.

  • Expands alternative fuel vehicle refueling and electric vehicle recharging property tax credits for tax years 2015-2018, allowing private citizens up to $1,500 and business entities up to $20,000 or 20% of installation costs, with cumulative annual limit of $1 million subject to appropriations.

  • Establishes rural regional development grant program under Department of Economic Development with up to $5 million annual appropriation, providing matching grants up to $150,000 per region with 3-to-1 match for established groups and 1-to-1 match for newer groups.

  • Creates Innovation Campus Tax Credit Act allowing 50% tax credit on eligible donations to innovation campuses for science, technology, engineering, and mathematics projects, with credits transferable and carryable forward up to four years.

  • Changes the supervising department for alternative fuel and electric vehicle programs from Department of Natural Resources to Department of Economic Development.

Legislative Description

Modifies provisions relating to taxation and economic development

Last Action

Signed by Governor

7/7/2014

Committee Referrals

Economic Development4/23/2014
Jobs, Economic Development And Local Government2/6/2014

Full Bill Text

No bill text available