SPONSOR: Owen
This bill modifies the status of certain existing tax credits. Such modifications include:
(1) Removing certain tax credits that are currently administered by the Department of Revenue (DOR), and placing those tax credits in a different agency. Such tax credits would include:
(a) Surviving Spouses of Public Safety Officers Tax Credit, moved from DOR to the Department of Public Safety;
(b) Adoption Tax Credit, moved from DOR to the Department of Social Services (DSS);
(c) Champion for Children Tax, moved from DOR to DSS;
(d) ADA Access, Expenditures by Small Businesses Tax Credit, moved from DOR to the Department of Economic Development (DED);
(e) Residential Renovations for Disability Tax Credit, moved from DOR to DED;
(f) Donated Food Tax Credit, moved from DOR to DSS;
(g) High Ethanol Blend Seller Tax Credit, moved from DOR to the Department of Agriculture (MDA);
(h) Biodiesel Blend Seller Tax Credit, moved from DOR to MDA; and
(i) Biodiesel Blend Producer Tax Credit, moved from DOR to MDA.
(2) Applying a sunset provision to those tax credits that currently lack such provision. Such tax credits include:
(a) Neighborhood Assistance Tax Credit;
(b) Affordable Housing Tax Credit;
(c) Missouri Development Finance Board Tax Credit;
(d) Missouri Development Finance Board (revenue bonds or notes) Tax Credit;
(e) Business Use Incentives for Large-Scale Development Tax Credit;
(f) Adoption Tax Credit;
(g) Investments in Missouri Small Businesses Tax Credit;
(h) Youth Opportunities and Violence Prevention Tax Credit;
(i) Rehabilitation and Construction of Residences in Distressed Communities and Census Blocks Tax Credit;
(j) ADA Access, Expenditures by Small Businesses Tax Credit;
(k) Contributions to Shelters for Victims of Domestic Violence or Rape Crisis Centers Tax Credit;
(l) Contributions to Maternity Homes Tax Credit;
(m) Contributions to Pregnancy Resource Centers Tax Credit;
(n) Community-Based Faculty Preceptor Tax Credit;
(o) Grape and Wine Producers Tax Credit;
(p) Missouri Empowerment Scholarship Accounts Program Tax Credit;
(q) Residential Treatment Agency Tax Credit;
(r) Developmental Disability Care Provider Tax Credit;
(s) Missouri Working Family Tax Credit;
(t) S Corp Banks, Associations, and Credit Institutions Tax Credit;
(u) Bank Franchise Tax Credit;
(v) Shared Care Giver Tax Credit;
(w) Family Development Account Tax Credit;
(x) Family Farm Breeding Tax Credit; and the
(y) Brownfield Redevelopment Program Tax Credit.
(3) Placing a maximum cap on those tax credits that currently lack such a provision. Such tax credits include: (a) Advanced Industrial Manufacturing Tax Credit;
(b) Surviving Spouses of Public Safety Officers Tax Credit;
(c) New or Expanded Business Facility Tax Credit;
(d) ADA Access, Expenditures by Small Businesses Tax Credit;
(e) Grape and Wine Producers Tax Credit;
(f) Unmet Health, Hunger, and Hygiene Needs of Children in School Tax Credit;
(g) Residential Treatment Agency Tax Credit;
(h) Developmental Disability Care Provider Tax Credit;
(i) Rolling Stock Tax Credit;
(j) Self-Employed Health Insurance Tax Credit;
(k) Missouri Working Family Tax Credit;
(l) S Corp Banks, Associations, and Credit Institutions Tax Credit;
(m) Bank Franchise Tax Credit;
(n) Shared Care Giver Tax Credit; and the
(o) Brownfield Redevelopment Program Tax Credit.
Statutes affected: