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MO HB378
Bill
Status
1/7/2015
Primary Sponsor
Kathryn Swan
Click for details
AI Summary
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Changes tax credit approval requirements from committee-level review (Senate Appropriations and House Budget committees) to requiring a constitutional majority vote in both houses of the General Assembly
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Applies to both new and existing tax credits for any tax year beginning after July 1 of the following year
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Exempts the senior citizens property tax credit (Chapter 135) from this approval requirement
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Maintains existing requirements for state departments to submit tax expenditure estimates by October 1 and for the budget director to submit reports to committee chairmen by January 1
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Amends Section 33.282, RSMo, relating to the tax expenditure budget process
Legislative Description
Specifies that all new and existing tax credits shall be approved by the General Assembly as part of the budget process
Last Action
Referred: Economic Development and Business Attraction and Retention(H)
5/15/2015