SB 274 Modifies provisions of the Missouri Development Finance Board Development Fund Contribution Tax Credit Program
Sponsor: Crowell
LR Number: 1605S.01I Fiscal Note: 1605-01
Committee: Governmental Accountability and Fiscal Oversight
Last Action: 3/5/2009 - SCS Voted Do Pass (w/SCS SBs 274 & 191) S Governmental Accountability and Fiscal Oversight Committee - (1605S.02C) Journal Page:
Title: Calendar Position:
Effective Date: August 28, 2009

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Current Bill Summary


SCS/SBs 274 & 191 - Under current law, the Missouri Development Finance Board is prohibited from issuing the greater of ten million dollars or an amount equal to five percent of growth in general revenue receipts for the preceding three years in contribution tax credits annually unless the Commissioner of Administration, the director of the Department of Economic Development, and the director of the Department of Revenue agree to exceed such limit. This act repeals the provision which allows for the annual limit on tax credit issuance to be exceeded and institutes an additional per project annual cap of ten million dollars.

JASON ZAMKUS