SB 259 – Subjects certain tax credit programs to sunsets

• Sponsor: Kraus
• LR Number: 1326S.01I
• Committee: Ways and Means and Fiscal Oversight
• Last Action: 2/17/2011 - Second Read and Referred S Ways and Means and Fiscal Oversight Committee
• Journal Page: S285
• Effective Date: August 28, 2011

Current Bill Summary

SB 259 - This act subjects the following tax credit programs to two-year sunset provisions:

1) The Bank Franchise Tax Credit;

2) The Bank Tax Credit for S-Corporations;

3) The Examination Fee Tax Credit;

4) The Missouri Health Insurance Pool Tax Credit;

5) The Missouri Life and Health Insurance Guaranty Tax Credit; and

6) The Property and Casualty Insurance Guaranty Tax Credit.

The following tax credit programs will be subject to four-year sunset provisions:

1) The Brownfield Remediation Tax Credit;

2) The Neighborhood Preservation Tax Credit;

3) The BUILD Tax Credit;

4) The Business Facility Tax Credit;

5) The Development Tax Credit;

6) The Enhanced Enterprise Zone Tax Credit;

7) The MDFB Bond Guarantee Tax Credit;

8) The MDFB Infrastructure Development Contribution Tax Credit;

9) The Missouri Quality Jobs Act;

10) The Family Farm Breeding Livestock Tax Credit;

11) The Agricultural Product Utilization Tax Credit;

12) The New Generation Cooperative Tax Credit; and

13) The Neighborhood Assistance Tax Credit.

The following tax credit programs will be subject to six-year sunset provisions:

1) The Historic Preservation Tax Credit;

2) The Low-Income Housing Tax Credit;

3) The Domestic Violence Shelter Tax Credit;

4) The Maternity Home Tax Credit;

5) The Shared Care Tax Credit; and

6) The Youth Opportunities Tax Credit.

JASON ZAMKUS