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MO SB743
Bill
Status
Introduced
1/16/2014
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 on or after August 28, 2014
- Requires the Department of Economic Development to assign any new tax credit program created after August 28, 2014 to one of nine defined tax credit categories: agricultural, business recruitment, community development, domestic and social, entrepreneurial, environmental, financial and insurance, housing, or redevelopment
- Defines "administering agency" as the state agency or department designated by statute to administer a particular tax credit program, with the Department of Revenue serving as default administrator when no agency is specified
- Establishes "recipient" definition as the original applicant who receives tax credit proceeds directly from the administering agency and is responsible for reporting requirements under section 135.805
- Catalogues existing tax credit programs within each category, including business facility credits, housing credits, agricultural credits, environmental credits, and training/educational credits
Legislative Description
Requires all tax credit programs created on or after August 28, 2014 to comply with the Tax Credit Accountability Act of 2004
Last Action
Hearing Conducted S Jobs, Economic Development and Local Government Committee
3/12/2014
Committee Referrals
Jobs, Economic Development And Local Government2/6/2014
Full Bill Text
No bill text available