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MO SB507

Bill

Official Source

Status

Introduced

2/25/2015

Primary Sponsor

Ryan Silvey

Click for details

Origin

Senate

2015 Regular Session

AI Summary

  • Establishes a statewide cap on total tax credits authorized per fiscal year, set at $575 million beginning July 1, 2015
  • Reduces the cap by 3% annually for five consecutive fiscal years after the initial year
  • After the five-year reduction period, adjusts the cap annually based on the percentage change in net general revenue collected from the prior fiscal year
  • Includes an emergency clause for immediate effect upon passage, citing necessity for state fiscal stability

Legislative Description

Creates a limit for the total amount of tax credits that may be authorized in a fiscal year

Last Action

Second Read and Referred S Jobs, Economic Development and Local Government Committee

3/10/2015

Committee Referrals

Jobs, Economic Development And Local Government3/10/2015

Full Bill Text

No bill text available