SCS/SB 165 - This act revises certain tax credits available to taxpayers operating new business facilities located within enterprise zones. Existing law prohibits certain new business facilities from qualifying for tax credits after the initial ten- year period, even if the business is expanded. This act would allow taxpayers eligible for enterprise zone tax credits to qualify for new business facility tax credits if otherwise eligible.

The act also revises existing law concerning tax credits for contributions to school and youth programs under the Youth Opportunities and Violence Prevention Act. Current law permits only individuals and certain classes of corporations to take the tax credits. The act permits individual proprietorships, partnerships, and S Corporations to take the credits.

The act provides for a Missouri low-income housing tax credit, and it extends the Community College Job Training tax credit program for ten years.

Current law specifies the order in which various tax credits may be taken against state income tax. The act repeals that requirement.

The act allows banking institutions to be qualified investors in Missouri certified capital companies.

The act has an emergency clause.

RUSS HEMBREE