FIRST REGULAR SESSION
SENATE BILL NO. 68
90TH GENERAL ASSEMBLY
INTRODUCED BY SENATOR CHILDERS.
Pre-filed December 1, 1998, and 1,000 copies ordered printed.
TERRY L. SPIELER, Secretary.
S0142.04I
AN ACT
To amend chapter 320, RSMo, by adding thereto one new section relating to income tax credits for dry fire hydrants.
Section A. Chapter 320, RSMo, is amended by adding thereto one new section, to be known as section 320.093, to read as follows:
320.093. 1. Any person, firm or corporation who purchases a dry fire hydrant, as defined in section 320.273, or provides an acceptable means of water storage for such dry fire hydrant including a pond, tank or other storage facility with the primary purpose of fire protection within the state of Missouri, shall be eligible for a credit on income taxes otherwise due pursuant to chapter 143, RSMo, except sections 143.191 to 143.261, RSMo, as an incentive to implement safe and efficient fire protection controls. The tax credit, not to exceed ten thousand dollars, shall be equal to fifty percent of the cost of in-kind contributions or in actual expenditure for any new water storage construction, equipment, development and installation of the dry hydrant, including pipes, valves, hydrants and labor for each such installation of a dry hydrant or new water storage facility.
2. Any amount of credit which exceeds the tax due shall not be refunded but may be carried over to any subsequent taxable year, not to exceed seven years. The person, firm or corporation may elect to assign to a third party the approved tax credit. The certificate of assignment and other appropriate forms must be filed with the Missouri department of revenue and the department of economic development.
3. The person, firm or corporation shall make application for the credit to the state fire marshal. The fire marshal shall establish by rule promulgated pursuant to chapter 536, RSMo, the requirements to be met based on the National Resources Conservation Service's Missouri Dry Hydrant Standard. The state fire marshal or designated local representative shall authorize and issue a permit for the construction and installation of any dry fire hydrant site. Only approved dry fire hydrant sites will be eligible for tax credits as indicated in this section. Under no circumstance shall such authority deny any entity the ability to provide a dry fire hydrant site when tax credits are not requested.
4. The state fire marshal, or his or her representative, shall certify to the department of revenue that the dry hydrant system meets the requirements to obtain a tax credit as specified in subsection 5 of this section.
5. In order to qualify for a tax credit under this section, a dry hydrant or new water storage facility must meet the following minimum requirements:
(1) Each body of water or water storage structure must be able to provide two hundred fifty gallons per minute for a continuous two-hour period during a fifty-year drought or freeze at a vertical lift of eighteen feet;
(2) Each dry hydrant must be located within twenty-five feet of an all weather roadway and must be accessible to fire protection equipment; and
(3) Dry hydrants shall be located a reasonable distance from other dry or pressurized hydrants.
6. New credits shall not be awarded under this section after August 28, 2003. In no event shall the total amount of all tax credits allowed pursuant to this section exceed ten million dollars in any one fiscal year.