SS/SCS/SB 549 - The Missouri Works Training Program is currently set to expire on July 1, 2019. This act reauthorizes the program until August 28, 2030. (Section 620.809) The Missouri Works Program is currently set to expire on August 28, 2019. This act reauthorizes the program until August 28, 2030. (Section 620.2020)
This act is identical to SS/SB 550 (2018) and to provisions contained in SS/HB 1415 (2018).
JOSHUA NORBERG
HA 1 - THIS AMENDMENT CHANGES THE TITLE FROM "RELATING TO THE REAUTHORIZATION OF FINANCIAL INCENTIVES FOR JOB CREATION" TO "RELATING TO TAX CREDITS".
HA 3 - THIS AMENDMENT PROVIDES THAT, FOR ALL TAX YEARS BEGINNING ON OR AFTER JANUARY 1, 2019, ANY TAX CREDIT THAT HAS A LIMIT ON THE AMOUNT THAT MAY BE AUTHORIZED, ISSUED, OR REDEEMED SHALL HAVE SUCH LIMIT REDUCED BY FIFTEEN PERCENT, WHICH SHALL BE THE LIMIT OF THE TAX CREDIT THEREAFTER. THIS PROVISION SHALL NOT APPLY TO DOMESTIC AND SOCIAL TAX CREDITS.
HA 4 - THIS AMENDMENT MODIFIES THE LOW INCOME HOUSING AND HISTORIC PRESERVATION TAX CREDITS BY REDUCING THE AMOUNT OF A TAX CREDIT AWARD FOR A PROJECT UNDER SUCH PROGRAMS BY TEN PERCENT UNLESS THE MUNICIPALITY IN WHICH SUCH PROJECT IS LOCATED REMITS TO THE DEPARTMENT OF REVENUE ONE PERCENT OF THE VALUE OF THE TAX CREDITS AWARDED TO THE PROJECT.
HA 5, AS AMENDED - THIS AMENDMENT MODIFIES SEVERAL PROVISIONS RELATING TO THE HISTORIC PRESERVATION TAX CREDIT.
HA 6 - THIS AMENDMENT MODIFIES THE DATE TO WHICH THE ACT EXTENDS THE SUNSET ON THE MISSOURI WORKS AND MISSOURI WORKS TRAINING PROGRAMS FROM AUGUST 28, 2030, TO AUGUST 28, 2025.
HA 7 - THIS AMENDMENT PROHIBITS THE ISSUANCE OF GRAPE AND WINE PRODUCERS TAX CREDITS AFTER JANUARY 1, 2019, AND THE ISSUANCE OF TAX CREDITS FOR THE REHABILITATION OF ABANDONED PROPERTY AFTER AUGUST 28, 2018. THIS AMENDMENT ALSO REPEALS THE QUALIFIED EQUITY INVESTMENT TAX CREDIT.
HA 8 - THIS AMENDMENT MODIFIES THE DISCRETIONARY TAX CREDITS ISSUED BY THE DEPARTMENT OF ECONOMIC DEVELOPMENT UNDER THE MISSOURI WORKS PROGRAM BY MAKING THE REFUNDABLE CREDITS NONREFUNDABLE.
HA 9 - THIS AMENDMENT REQUIRES ALL APPLICANTS FOR ANY TAX CREDIT PROGRAM, EXCLUDING DOMESTIC AND SOCIAL TAX CREDITS, TO SUBMIT INFORMATION DETAILING ANY POLITICAL CONTRIBUTIONS IN EXCESS OF $25 DURING THE TWO YEARS IMMEDIATELY PRIOR TO THE APPLICATION FILING DATE. THE AGENCY ADMINISTERING THE TAX CREDIT SHALL PROVIDE SUCH INFORMATION TO THE MISSOURI ETHICS COMMISSION.
HA 10 - THIS AMENDMENT REAUTHORIZES THE RESIDENTIAL RENOVATIONS FOR DISABILITY TAX CREDIT THROUGH DECEMBER 31, 2026, AND INCREASES THE MAXIMUM ANNUAL AMOUNT OF TAX CREDITS ALLOWED FROM $100,000 TO $200,000.