Landmarks Association of St. Louis

Bills Submitted Before Missouri Senate Would Drastically Change Many Tax Credits

Senator Jason Crowell (R-Cape Girardeau) submitted several bills on Wednesday, January 19th that would drastically change many of Missouri's tax credit programs including the state's Historic Rehabilitation Tax Credit.

Senate Bill 139:  This bill would modify all Missouri tax credit programs by limiting the amount of credits available for the authorization in each fiscal year begining in 2013.  The amount of credits that will be available will be based upon appropriations made by the General Assembly in the appropriation bill for public debt.  If this act is passed the administrating agency of each tax credit program will have to provide the House Budget Committee and the Senate Appropriations Committee with a request for tax credits appropriations.  Currently, Missouri law allows the issuance of tax credits to a recipient for the course of several years, such tax credit authorization must be appropriated in the aggregate and subsequent issuance of such tax credits will not be used in calculating any statutory limitation on the fiscal year authorization of tax credits.

Fiscal year appropriations of tax credits must be made inthe annual appropriations bill for public debt and specifically provide: the name of the tax credit program, the actual amount allocated for authorization, the administering agency for the program and weather the amount is authorized of streaming tax credit issuance and the amount of the streamed credits.

In short, the act requires funds to be set aside, specifically for tax credits, so they are not unlimited.  The money would be appropriated for a tax credit at once before the actual issuance of a tax credit.  As the credit is issued it wouldn't be counted aganist the fiscal year's limit becuase the money has already been appropriated.  However, this would place a cap on the amount that could be used towards tax credits.


Local Rehabilitated Properties Benefiting from State and Federal Historic Tax Credit

 2608-10 Cherokee Street prior to rehab


 2608-10 Cherokee Street after rehab










Senate Bill 140:  This act presened by Senator Crowell repeals provisions of the Missouri property tax credit, commonly referred to as the circuit breaker tax credit, which allows renters to receive the property tax credit for rent constituting taxes paid.

Senate Bill 141:  The passage of this act would require applicants for tax credits to provide statesment that they have not made contributions to a state or federal campaign committee within the past two years prior to the application.  The application for the tax credits will also state that the applicant will not make a contribution to any state or federal campaign for two years following the receipt of tax credits.  This act will effect the following tax credits:

Agricultural Product Utilization Contributor Tax Credit

New Generation Cooperative Incentive Tax Credit

Low-Income Housing Tax Credit

Business Facility Tax Credit

Enterprise Zone Tax Benefit

Business Use Incentives for Large-Scale Development Tax Credit (BUILD)

 Development Tax Credit

Rebuilding Communities Tax Credit

Film Production Tax Credit

Enhanced Enterprise Zone Tax Benefit

Quality Jobs Tax Benefit

Capital Tax Credit

Certified Capital Company Tax Credit

Seed Captial Tax Credit

New Enterprise Creation Tax Credit

Research Tax Credit

Small Business Incubator Tax Credit

Historic Preservation Tax Credit

Brownfield Redevelopment Program Tax Credit

Community Development Corporations Tax Credit

Missouri  Development Finance Board (MDFB) Infrastructure Tax Credit

 MDFB Bond Guarantee Tax Credit

Disabled Access Tax Credit

Distressed Areas Land Assemblage Tax Credit

Any tax credits authorized under any tax credit program est. by law after August 28, 2011

Any recipient of such tax credits who is found to have made a campaign contribution within the two year period immediately preceding, or following the application will be subject to recapture of all such credits.  Administering agencies must provide the Attorney General with annual reports containing all tax credit applications received.  The Attorney General will commence legal proceedings to recapture and repayment of tax credits by tax credit recipients found to have made campaign contributions in violation of this act.

Basically, this bill states that one could not apply for tax credits and contribute money to a state or federal campaign or vice versa.  If one has contributed to a campaign and received tax credits within a two year period, that person or company has to repay the credit.

To learn more about the federal and state tax credit, visit Missouri's State Historic Preservation Office website.