To repeal section 143.805, RSMo 1994, relating to taxation and revenue, and to enact in lieu thereof two new sections relating to the same subject.

BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF MISSOURI,

AS FOLLOWS:

Section A. Section 143.805, RSMo 1994, is repealed and two new sections enacted in lieu thereof to be known as sections 143.075 and 143.805, to read as follows:

143.075. For all tax returns filed on or after January 1, 1997, an individual shall be allowed a credit against the tax otherwise due under this chapter in the amount of one hundred dollars for each dependent claimed in determining the Missouri taxable income for such individual.

143.805. 1. Credits granted by other provisions of the statutes shall be applied against the tax imposed by this chapter in the following order:

(1) Credit for income tax paid to another state authorized in section 143.081;

(2) Credit for dependents authorized in section 143.075;

[(2)] (3) New business facility credit authorized in sections 135.100 to 135.160, RSMo;

[(3)] (4) Economic development credit authorized in subsection 6 of section 100.286, RSMo;

[(4)] (5) Missouri low-income housing tax credit authorized in subsection 2 of section 135.352, RSMo;

[(5)] (6) Employment of unemployed agriculture workers tax credit authorized in sections 135.275 to 135.287, RSMo;

[(6)] (7) Wood energy producer tax credit authorized in sections 135.300 to 135.311, RSMo;

[(7)] (8) Contributions to innovations centers and the corporation for science and technology tax credit authorized in sections 348.300 to 348.318, RSMo;

[(8)] (9) Neighborhood assistance credit authorized in sections 32.105 to 32.125, RSMo;

[(9)] (10) Special needs child adoption credit authorized in section 135.327, RSMo;

[(10)] (11) Enterprise zone credit authorized in sections 135.200 to 135.255, RSMo;

[(11)] (12) Senior citizens property tax credit authorized in sections 135.010 to 135.035, RSMo.

2. The director of revenue may prescribe the priority of any other credit authorized by law.