MO HB1201

Reduces annual caps on multiple existing tax credit programs effective July 1, 2017: Neighborhood Assistance Program from $26 million to $16 million; Major Sporting Events from $10 million to $5 million; Missouri Development Finance Board infrastructure bonds from $50 million to $40 million; BUILD bonds from $25 million to $15 million; Small Business Investment from $13 million to $8 million; Distressed Areas Land Assemblage from $16 million to $6 million; New Markets Development from $25 million to $15 million; Enhanced Enterprise Zones from $24 million to $14 million; and Missouri Works from uncapped to $76 million

Creates the State Building and Capital Improvement Fund for construction, repair, renovation, and rebuilding of state buildings, ports, facilities, and infrastructure, with a minimum balance requirement of $25 million before appropriations can be made

Establishes a tax credit of 120% of contributions to the fund for donations between $500 and $50,000, with a maximum credit of $60,000 per taxpayer per year and a statewide cap of $100 million annually

Allows taxpayers to designate $10 or more ($20 on joint returns) from their state income tax refunds to the State Building and Capital Improvement Fund via a check-off on tax return forms

Credits are non-transferable and non-refundable but may be carried forward for three years; total unredeemed credits cannot exceed $300 million in any fiscal year