SB 141 - This act requires applicants to provide statements, that such applicant has not made a contribution to a state or federal campaign committee within the two years prior to application and will not make such a contribution for the two year period following receipt of tax credits, with all applications for:
1. Agricultural product utilization contributor tax credits;
2. New generation cooperative incentive tax credits;
3. Low-income housing tax credits;
4. Business facility tax credits;
5. Enterprise zone tax benefits;
6. Business use incentives for large-scale development tax credits (BUILD);
7. Development tax credits;
8. Rebuilding communities tax credits;
9. Film production tax credits;
10. Enhanced enterprise zone tax benefits;
11. Quality jobs tax benefits;
12. Capital tax credits;
13. Certified capital company tax credits;
14. Seed capital tax credits;
15. New enterprise creation tax credits;
16. Research tax credits;
17. Small business incubator tax credits;
18. Guarantee fee tax credits;
19. New generation cooperative tax credits;
20. Historic preservation tax credits;
21. Brownfield redevelopment program tax credits;
22. Community development corporations tax credits;
23. Missouri Development Finance Board (MDFB) infrastructure tax credits;
24. MDFB bond guarantee tax credits;
25. Disabled access tax credits;
26. New markets tax credits;
27. Distressed areas land assemblage tax credits; and
30. Any tax credits authorized under any tax credit program established by law after August 28, 2011.
The act prohibits recipients of such tax credits from making campaign contributions for the two years immediately following application for such credits. Any recipient of such tax credits who is found to have made a campaign contribution within the two year period immediately preceding, or following, 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 require the recapture and repayment of tax credits by tax credit recipients found to have made campaign contributions in violation of this act.
This act is similar to Senate Bill 1054 (2010).