SB427 - Authorizes additional $15 million in certified capital tax credits; allocates $10 million to start-up businesses

SB 0427

Authorizes additional $15 million in certified capital tax credits; allocates $10 million to start-up businesses

Sponsor:	Flotron
LR Number:	S0662.03I	Fiscal Note:	0662-03
Committee:	Local Government and Economic Development
Last Action:	02/23/99 - Hearing Conducted S Local Government & Economic		Journal page:
	Development Committee
Title:
Effective Date:	August 28, 1999

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Current Bill Summary

SB 427 - This act adds the definition of "qualified Missouri seed business" to the certified capital companies (CAPCO) statute. The act removes the discretionary authority of the Director of the Department of Economic Development in granting and apportioning the CAPCO tax credits. Aggregate credits are increased from $10 million to $25 million, with $10 million of the authorized credits to be utilized for investments in qualified Missouri seed businesses. The act also repeals the current statute authorizing the qualified research tax credit.
RUSS HEMBREE