SS/SCS/HCS/HB's 116 & 316 - This act modifies laws regarding the collection of moneys owed to the state. The Director of the Department of Revenue is authorized to retain one percent of the amount of any local sales or use taxes collected by the department for the cost of collection. Beginning January 1, 2012, a statement of no tax due will be required for the issuance or renewal of all city and county occupation licenses as well as all state licenses required to conduct business. Such statement must be dated not more than sixty days from the date of application for license to be valid. The Director of Revenue may enter into an agreement with any state agency responsible for issuing any state license requiring the agency to provide the department with the name and tax identification number of each applicant for licensure within one month of the date the application is filed or at least one month prior to the anticipated license renewal. If an applicant is delinquent on any taxes, the department director must send a notice to the licensing agency and the applicant. An applicant's license must be suspended within 90 days after the notice unless: the taxes are paid; an arrangement has been made with the department to pay the taxes; the taxes were paid under protest; or the tax liability is found to be reasonably disputed. Anyone making a claim or having a judgment under the provisions of the State Legal Expense Fund must have a no-tax due statement from the department before any moneys can be expended from the fund for the settlement of any liability claim. The act allows an offset from the State Legal Expense Fund to satisfy any delinquent tax debt owed before payment is made to the person. Payments of $10,000 or greater from the fund for property damage claims are not required to have a no-tax due statement.
The act provides taxpayers with amnesty from the assessment or payment of all penalties, additions to tax, and interest on delinquencies of unpaid taxes administered by the department which occurred on or prior to December 31, 2010. To receive amnesty under the act, a taxpayer must: apply for amnesty; file a tax return for each tax period for which amnesty is requested; pay the unpaid taxes in full from August 1, 2011, to October 31, 2011; and agree to comply with state tax laws for the next eight years from the date of the agreement. All new revenues resulting from the tax amnesty program will be deposited into the General Revenue Fund unless otherwise earmarked by the Missouri Constitution. State agencies may refer any debt owed to them to the department for the collection. The department and the referring state agency may exchange necessary information but must comply with federal and state laws regarding the confidentiality of information and records. The department may compromise any referred state debt and use all general remedies afforded creditors of Missouri, remedies specific to the referring state agency, and remedies afforded the state in general.
The department can employ staff, attorneys,, prosecuting attorneys, and private collection agencies to aid in the collection of debt. The department must add 10% to the amount of debt to be collected for the cost of collection which may be waived under certain conditions.
The Director of Revenue may issue an administrative garnishment once he or she has filed a certificate of lien in the circuit court for delinquent income or sales or use taxes. Any person receiving this order must turn over any of the taxpayer's assets in his or her possession and any assets that are to become due the taxpayer including wages, salaries, commissions, bonuses, workers' compensation benefits, disability benefits, pension or retirement payments, and interest less a fee to cover costs of no more than $6 per month. The taxpayer may obtain relief from the garnishment by paying the total amount owed.
Fee offices will be allowed to retain two percent of sales taxes collected on motor vehicles.
The act modifies provisions of the current state and local sales and use tax exemption for sales of over-the-counter and nonprescription drugs to individuals with disabilities by requiring such items be dispensed pursuant to a lawful prescription and expands current state and local sales and use tax exemptions to include diabetic accessories and supplies, the rental of certain medical equipment including scooters and wheelchairs.
Beginning January 1, 2012, the Department of Elementary and Secondary Education must provide the Director of Revenue, at least annually, the name and Social Security number of each certificate holder or applicant for a certificate of license to teach in Missouri. The Director of the Department of Revenue must at least annually a year verify that all income taxes have been paid and state income tax returns have been filed in the past three years and send a notice to the Department of Elementary and Secondary Education and the certificate holder or applicant if a person has not paid his or her taxes or filed the tax returns. A certificate holder's license will be suspended within 90 days after the notice, and an applicant's license cannot be issued unless: the taxes are paid; an arrangement has been made with the Department of Revenue to pay the taxes; the taxes were paid under protest; or the tax liability is found to be reasonably disputed.
The Director of the Department of Revenue and the Commissioner of the Office of Administration may enter into a reciprocal agreement with the federal government or any other state to offset vendor and contractor payments for any type of debt owed to the state. Currently, the department has a reciprocal agreement with the United States Treasury to offset income tax overpayments.
This act also modifies provisions of Missouri tax credit programs in accordance with recommendations made by the Missouri Tax Credit Review Commission Report.
TAX CREDITS TO ATTRACT SPORTING EVENTS
The act creates a refundable income and financial institutions tax credit which may be available for sports commissions, convention and visitors bureaus, certain nonprofit organizations, counties, and municipalities to offset expenses incurred in attracting sporting events to the state. Applicants for the tax credit must submit game support contracts to the department of economic development for approval. The tax credit will be equal to the lesser of five dollars for each admission ticket sold for the event or one hundred percent of eligible expenses incurred. No more than three million dollars in tax credits may be issued per fiscal year. The tax credits are fully transferrable, provided a notarized endorsement is filed with the department of economic development. The department of economic development is prohibited from certifying game support contracts after August 28, 2017, but may certify game support contracts prior to such date which pertain to games to be held after August 10, 2017.
The act also creates an income tax credit equal to fifty percent of the amount of an eligible donation made, on or after January 1, 2010, to a certified sponsor or local organizing committee for the purposes of attracting sporting events to the state. The tax credit may not be applied against withholding taxes. The tax credit is non-refundable, but may be carried forward four years. The tax credit is transferable. Certified sponsors and local organizing committees may apply to the Department of Economic Development for the tax credits. Applications for tax credits must be accompanied by payment in an amount equal to the tax credits requested. The Department of Economic Development is prohibited from issuing more than ten million dollars in tax credits each fiscal year. The provisions of this act shall automatically sunset four years after the effective date of the act unless reauthorized.
AEROTROPOLIS TRADE INCENTIVE AND TAX CREDIT ACT
The Aerotropolis Trade Incentive and Tax Credit Act is established, which authorizes the City of St. Louis or any county to designate certain areas as gateway zones. Any such municipality that designates an area as a gateway zone will be required to establish a board of supervisors that will annually levy special assessments on facilities located within the zone which receive benefits provided under the act. Revenues derived from the special assessments will be expended to promote and advertise the gateway zone.
For all taxable years beginning on or after January 1, 2011, the act authorizes air export tax credits for freight forwarders in an amount equal to thirty cents per chargeable kilo shipped on a qualifying outbound flight. In lieu of the previously mentioned tax credit, a freight forwarder will be entitled to an air export tax credit equal to thirty-five cents per chargeable kilo if the shipment contains perishable freight. The department of economic development is required to adjust the tax credit amounts based upon fluctuations in fuel costs for over-the-road transportation. In order to receive air export tax credits, freight forwarders must file an application with the department containing the master airway bill for the shipment. The act requires the department to establish procedures to allow freight forwarders to receive air export tax credits within fifteen business days of the departure of the qualifying flight.
The total amount of air export tax credits which may be authorized under the act cannot exceed sixty million dollars. The act establishes annual caps on issuance of air export tax credits, and to the extent that in any given year more tax credits are authorized than may be issued, the amount in excess of the cap on issuance will be carried forward for issuance in the following year. The authorization of air export tax credits is prohibited after January 1, 2019, but the act allows for the subsequent issuance of any tax credits which are authorized prior to such date.
For all taxable years beginning on or after January 1, 2013, any tenant operating within an eligible facility which satisfies the requirements of the act and employees of such tenant will be entitled to an exemption from local earnings taxes imposed by the City of St. Louis for a period of up to seven years.
For all taxable years beginning on or after January 1, 2013, owners of qualified facilities, in which at least twenty percent of the total cargo activity consists of international cargo, will be entitled to receive tax credits over a seven-year period equal to six percent of the eligible costs of such facility. The total amount of tax credits issued to such an owner cannot exceed thirty percent of the facility's eligible costs. Owners of qualified facilities, in which at least ten percent of the total cargo activity consists of international cargo, as well as any qualifying assembly and manufacturing, or qualifying cold-chain facility will be entitled to receive tax credits over a seven-year period equal to four percent of the eligible costs of such facility. The total amount of tax credits issued to such an owner cannot exceed twenty percent of the facility's eligible costs.
In order to receive tax incentives provided under the act, owners and tenants of qualifying facilities and entities operating within such facilities must file applications with the department of economic development accompanied by a certificate of compliance. The act establishes limits on the amount of tax credits which may be issued annually to owners of qualifying facilities. No more than three hundred million dollars in tax credits, based upon the eligible costs of a qualifying facility, may be authorized for owners of qualified facilities under the act.
All tax credits provided under the act will be fully transferrable and non-refundable, but may be carried forward up to six years.
The provisions of the act establishing the aerotropolis trade incentive and tax credit act will automatically sunset eight years from the effective date of the act unless reauthorized.
BROWNFIELD REMEDIATION TAX CREDITS
The act prohibits the authorization of more than twenty-five million dollars in Brownfield remediation tax credits annually. The credit amount for soft costs is reduced from one hundred percent to twenty-five percent. The act prohibits the authorization of more than ten million dollars in Brownfield tax credits each fiscal year for projects that receive benefits under the Distressed Areas Land Assemblage program. (Section 447.708)
NEIGHBORHOOD PRESERVATION TAX CREDITS
The "first-come, first-serve" requirement for tax credit issuance is repealed and replaced with a targeted neighborhood approach that would provide priority for projects which provide the highest impact. Neighborhood Associations will now be able to participate in the program. The annual cap on neighborhood preservation tax credits is reduced from sixteen million dollars to ten million dollars. Tax credits will be allocated among projects located within qualifying and eligible areas based upon demand. Residents which receive tax credits for owner-occupied residences will be subject to recapture if they fail to maintain residency in such home for a five-year period. (Sections 135.481 to 135.487)
LOW-INCOME HOUSING TAX CREDITS
Under current law, low-income housing tax credits are allowed over a ten-year period. Beginning July 1, 2011, this act reduces the period of time in which low-income housing tax credits are allowed to a five-year period and limits the total amount of low-income tax credits authorized annually to no more than eighty million dollars. The issuance of four percent low-income housing tax credits will be prohibited after June 30, 2011. The act also prohibits stacking low-income housing tax credits with historic preservation tax credits. Taxpayers will be capable of receiving tax credits once the first low-income unit is occupied by a qualified tenant. The carry-back provision for low-income housing tax credits is reduced from three years to two years. (Section 135.352)
AFFORDABLE HOUSING ASSISTANCE
Under current law, tax credits for contributions to non-profit organizations for the construction, rehabilitation, or acquisition of affordable housing are capped at ten million per fiscal year. This act reduces the cap to eight million five hundred thousand dollars per fiscal year. The one million dollar fiscal year cap on tax credits for contributions to non-profit housing organizations to assist with their basic operating expenses is increased to two million five hundred thousand dollars. The credit amount for affordable housing tax credits is reduced from fifty-five percent of an eligible donation or contribution to forty percent of such donation or contribution. (Sections 32.105 to 32.120)
HISTORIC PRESERVATION TAX CREDITS
Under current law, the Department of Economic Development is prohibited from issuing more than one hundred forty million dollars in historic preservation tax credits in any fiscal year for projects which will receive more than two hundred and seventy-five thousand dollars in tax credits. Beginning fiscal year 2012, and each fiscal year thereafter, this act would prohibit the Department of Economic Development from issuing more than seventy-five million dollars in historic preservation tax credits increased by the amount of any recisions of approved applications for tax such credits. Projects which would receive less than two hundred seventy-five thousand dollars in tax credits will be subject to the seventy-five million dollar cap.
The act prohibits the department from issuing more than fifty thousand dollars in historic preservation tax credits per project for non-income producing residential rehabilitation projects. Non-income producing residential rehabilitation projects involving a subject property with a purchase price in excess of one hundred fifty thousand dollars will be ineligible for tax credits. Applicants for projects that, as of June 30, 2011, have: received approval from the Department of Economic Development; incurred certain levels of expenses; been approved for 4% federal low-income housing tax credits; or received certification from the state historical preservation officer will not be subject to the new limitations on tax credit issuance, but will be subject to the current law limitations on tax credit issuance. The act also prohibits the stacking of historic preservation tax credits with neighborhood preservation tax credits or low-income housing tax credits. Historic preservation tax credits will now be capable of being carried back one year or forward five years. (Sections 253.545 to 253.559)
SOCIAL AND CONTRIBUTION TAX CREDITS
The definition of taxpayer contained in social and contribution tax credit programs is broadened to allow additional donors to participate. Social and contribution tax credits which under current law are non-transferrable will now be transferrable. For all taxable years beginning on or after January 1, 2012, the act decreases the Missouri Development Finance Board Infrastructure Contribution credit from a fifty percent credit for contributions received to a credit equal to thirty-five percent of the amount contributed. The Affordable Housing Assistance Program tax credit is also reduced from fifty-five percent of the eligible donation to forty percent of such donation. The Disabled Access Tax Credit is reduced from fifty percent to thirty-five percent of eligible access expenditures. The per donor contribution limit for food pantry tax credits is increased to $10,000 for donations of food and the per contribution limit for cash is eliminated. The act excludes international adoption expenses from qualifying under the special needs adoption tax credit program. Beginning January 1, 2012, social and contribution tax credits will be equal to fifty percent of the first one thousand dollars of an eligible contribution or donation and thirty-five percent of any excess above one thousand dollars contributed or donated.
The act reduces the fiscal year cap on tax credits for contributions to food pantries is reduced to one million dollars and a new tax credit for contributions to food banks is created. At the discretion of the food bank, a taxpayer may receive a tax credit equal to thirty-five percent of donations of food or cash made to a food bank after August 28, 2011. The tax credit is non-refundable, but may be carried forward three years and is fully transferrable. Taxpayers that knowingly employ persons who are not authorized to work in the United States are ineligible to receive the credit.
The Department of Social Services will administer the credit and allocate tax credits to food banks based upon the distribution of benefits provided under the federal emergency food assistance program. The department is prohibited from allocating more than one million dollars in tax credits each fiscal year. Food banks must submit plans for how they intend to maximize resources to provide hunger relief and their annual budgets to the Department of Social Services prior to receiving tax credits. The amendment prohibits the authorization of food bank tax credits after June 30, 2015.
SUNSET PROVISIONS FOR CERTAIN TAX CREDIT PROGRAMS
Due to the commission's recommendation that reforms to programs be made on a prospective basis, rather than utilizing traditional sunset provisions, this act prohibits the authorization of tax credits under the following programs after August 28, 2014:
1) The Brownfield Remediation Tax Credit;
2) The Neighborhood Preservation Tax Credit
3) The MDFB Bond Guarantee Tax Credit;
4) The MDFB Infrastructure Development Contribution Tax Credit;
5) The Family Farm Breeding Livestock Tax Credit;
6) The Agricultural Product Utilization Tax Credit;
7) The New Generation Cooperative Tax Credit;
8) The Qualified Beef Tax Credit;
9) The Wine and Grape Producer Tax Credit; and
10) The Neighborhood Assistance Tax Credit.
The authorization of tax credits under the following programs will be prohibited after August 28, 2015:
1) The Historic Preservation Tax Credit;
2) The Low-Income Housing Tax Credit;
3) The Domestic Violence Shelter Tax Credit;
4) The Maternity Home Tax Credit;
5) The Pregnancy Resource Center Tax Credit;
6) The Shared Care Tax Credit;
7) The Youth Opportunities Tax Credit;
8) The Disabled Access Tax Credit;
9) The Family Development Account Tax Credit;
10) The Residential Treatment Agency Tax Credit;
11) The Food Pantry Tax Credit;
12) The Neighborhood Assistance Program; and
13) The Property Tax Credit (Circuit Breaker).
Where, under current law, a tax credit was subject to the sunset act, the sunset provision is modified to sunset such program on the date provided above.
The limitations on tax credit authorizations provided in the act will not impair an administering agencies ability to issue tax credits that were authorized prior to the date on which authorizations are prohibited, nor will they affect a taxpayer's ability to redeem such tax credits.
COMPETE MISSOURI
This act establishes the Compete Missouri Program which combines six existing business incentive programs and will provide tax incentives for job creation, job retention, and capital investment. The act also establishes the Compete Missouri Job Training Program which combines three existing job training programs and provides funding for job training.
The act establishes the Compete Missouri Job Training Program which will provide financial assistance for job training for new jobs created by qualified companies. Financial assistance will also be available to business and technology centers established by Missouri community colleges, or state-owned postsecondary technical colleges, to provide business and training services for growth industries. The act provides for the diversion of withholding taxes from new or retained jobs of qualified companies to pay costs incurred by new or retained jobs training projects administered by local educational agencies such as community and technical colleges.
The provisions of the act creating the Compete Missouri Training Program will automatically sunset July 1, 2018, unless reauthorized. (Sections 620.800 to 620.809)
The Compete Missouri Program is established to provide tax incentives in the form of sales and use tax exemptions, retained withholding taxes, and refundable income and financial institutions tax credits for qualified companies that create new or retain existing jobs and make capital investments. The program provides both entitlement and discretionary benefits for qualified companies that offer health insurance to all employees and pay at least fifty percent of the premiums. Tax credits provided under the program are fully transferrable and must be used within one taxable year following the close of the taxable year in which they are issued. (Sections 620.2000 to 620.2020)
Qualified companies, which create a minimum of twenty new jobs with an average wage equal to or exceeding ninety percent of the county average wage or retain at least one hundred and twenty-five jobs with an average wage equal to or in excess of ninety percent of the county average wage and make at least fifteen million dollars in capital investment, will be eligible to receive up to three years of state and local sales tax exemption for purchases of tangible personal property and building materials used to construct, repair, or remodel a project facility. The Department of Economic Development will certify qualified companies for the state sales tax exemptions while local governments will have the option to certify qualified companies for exemptions from their local sales taxes. The act contains recapture provisions requiring repayment of tax incentives in the event a qualified company fails to meet program requirements. (Sections 144.062 and 144.540)
Qualified companies that create twenty or more new jobs with an average wage equal to or in excess of ninety percent of the county average wage will be entitled to retain withholding taxes from new payroll for a period of five years. Such a company will also be entitled to tax credits equal to up to two percent of new payroll to be issued each year for five years, provided that the combined tax credit and retained withholding benefits cannot exceed five percent of new payroll. The act gives the department of economic development the discretion to issue such company additional tax credits, equal to up to four percent of payroll, for five years provided that the total amount of all benefits received does not exceed nine percent of new payroll annually. In addition, discretionary tax credits authorized by the department cannot exceed the projected net state benefit.
If a qualified company is in a targeted industry and it creates ten or more new jobs with an average wage equal to or in excess of ninety percent of the county average wage, it will be entitled to retain withholding taxes from new payroll for a period of five years. Such a company will also be entitled to tax credits equal to up to three percent of new payroll to be issued each year for five years, provided that the combined tax credit and retained withholding benefits cannot exceed six percent of new payroll. The act gives the Department of Economic Development the discretion to issue such company additional tax credits, equal to up to six percent of new payroll, for five years provided that the total amount of all benefits received does not exceed nine percent of new payroll annually. Discretionary tax credits authorized by the department cannot exceed the projected net state benefit.
Qualified companies, located within an enhanced enterprise zone, that create two or more new jobs with an average wage equal to or in excess of eighty percent of the county average wage and make a capital investment of at least one hundred thousand dollars will be entitled to retain withholding taxes for a period of five years.
Any qualified company that is an existing Missouri business and meets the aforementioned conditions under the compete Missouri program will be entitled to retain withholding taxes for an additional year.
The Department of Economic Development may provide up-front financing to qualified companies in the form of refundable tax credits capable of being issued upon approval of the project. To receive such benefits, a qualified company must enter into a written agreement with the department that provides performance requirements and clawback provisions. Qualified companies in targeted industries could receive tax credits equal to as much as nine percent of new payroll projected over a five year period. Non-targeted industry qualified companies could receive tax credits equal to as much as seven percent of new payroll projected over a five year period.
The Department of Economic Development may allow qualified companies, that agree to retain at least one hundred and twenty-five existing jobs with an average wage equal to or in excess of ninety percent of the county average wage for at least five years and agree to make a capital investment equal to three times the amount of state benefits provided within two years, to retain withholding taxes from the retained jobs for a period of five years. The Department of Economic Development may provide up-front financing to qualified companies in the form of refundable tax credits capable of being issued upon approval of the project. Qualified companies, that agree to retain at least one hundred and twenty-five existing jobs with an average wage equal to or in excess of ninety percent of the county average wage for at least five years and agree to make a capital investment equal to three times the amount of state benefits provided within two years, could receive tax credits equal to as much as eighty percent of withholdings from retained job payroll projected over a five year period. In order to receive the job retention benefits, a qualified company must enter into a written agreement with the department providing detailed performance requirements and recapture provisions.
The Department of Economic Development is required to respond to a request for a proposed benefit award under the Compete Missouri Program within five business days of the receipt of such request. The response must contain either a proposal of benefits or a written refusal stating the reasons no proposal will be provided. Failure by the department to approve or disapprove a notice of intent for benefits under the program will result in a deemed approval. Beginning January 1, 2012, the Department of Economic Development must provide quarterly reports on the program to the General Assembly, including a listing of all approved and disapproved applicants and the department's response time to requests for proposed benefit awards. Qualified companies that receive benefits under the program will be required to provide annual reports to the department, in order to document compliance with all applicable requirements and stating the amount of sales taxes exempted.
The act prohibits the approval of new projects after August 28, 2011, under the Quality Jobs, Enhanced Enterprise Zone, BUILD, Development, Rebuilding Communities, and Business Facilities programs.
The act limits the amount of up-front job creation and retention tax credits that may be authorized each fiscal year to no more than the amount appropriated.
The total amount of all tax credits authorized for each fiscal year under the Compete Missouri Program including any up-front job creation/retention tax credits and any outstanding authorizations for tax credits under the six programs prohibited from approving new projects after August 28, 2011, cannot exceed:
1) $111 million for FY 2012;
2) $126 million for FY 2013; and
3) $141 million for FY 2014 and each subsequent fiscal year.
The provisions of the act creating the Compete Missouri Program will automatically sunset six years after the effective date of the act unless reauthorized.
REPEAL OF CERTAIN TAX CREDIT PROGRAMS
This act repeals the following tax credit programs:
1) The Charcoal Producers Tax Credit;
2) The Self-Employed Health Insurance Tax Credit;
3) The Railroad Rolling Stock Tax Credit; and
4) The Brownfield Jobs/Investment Credit.
The act also repeals provisions of the Missouri property tax credit, commonly referred to as the circuit breaker tax credit, which allow renters to receive the property tax credit for rent constituting taxes paid.
Provisions contained in this act are similar to provisions contained in the SS/SCS/SB 280 (2011).
This act contains an emergency clause.
JASON ZAMKUS
SA #1 - CORRECTS AN INTERSECTIONAL REFERENCE
SA #2 - ADDS PROVISIONS ESTABLISHING THE MISSOURI SCIENCE AND INNOVATION REINVESTMENT ACT
SA #1 TO SA #2 - SUBJECTS THE MISSOURI SCIENCE AND INNOVATION REINVESTMENT ACT TO APPROPRIATIONS
SA #3 - REMOVES SECTION 33.088, WHICH REQUIRED NO TAX DUE STATEMENTS AS A PREREQUISITE FOR ISSUANCE AND RENEWAL OF STATE AND LOCAL OCCUPATIONAL LICENSES, FROM THE BILL
SA #6 - MAKES THE LEVY OF ASSESSMENTS ON ELIGIBLE FACILITIES RECEIVING BENEFITS UNDER THE AEROTROPOLIS TRADE INCENTIVE AND TAX CREDIT ACT DISCRETIONARY RATHER THAN MANDATORY
SA #8 - CREATES AN INCOME TAX CREDIT EQUAL TO FIFTY PERCENT OF THE AMOUNT OF AN ELIGIBLE DONATION MADE, ON OR AFTER JANUARY 1, 2010, TO A QUALIFYING DEVELOPMENTAL DISABILITY CARE PROVIDER. THE TAX CREDIT MAY NOT BE APPLIED AGAINST WITHHOLDING TAXES. THE TAX CREDIT IS NON-REFUNDABLE, BUT MAY BE CARRIED FORWARD FOUR YEARS. THE TAX CREDIT IS TRANSFERABLE. A PROVIDER MAY APPLY TO THE DEPARTMENT OF REVENUE FOR THE TAX CREDITS. THE PROVISIONS OF THE ACT CREATING THE TAX CREDIT FOR DONATIONS TO QUALIFYING DEVELOPMENTAL DISABILITY CARE PROVIDERS SHALL AUTOMATICALLY SUNSET FOUR YEARS AFTER THE EFFECTIVE DATE OF THE ACT UNLESS REAUTHORIZED
SA #9 - PROHIBITS THE APPROVAL OF NEW APPLICATIONS UNDER THE MISSOURI DOWNTOWN AND RURAL STIMULUS ACT AFTER AUGUST 28, 2011
SA #10 - REMOVES SECTION 168.071 FROM THE BILL, WHICH REQUIRED THE DEPARTMENT OF ELEMENTARY AND SECONDARY EDUCATION TO PROVIDE THE DIRECTOR OF REVENUE, AT LEAST ANNUALLY, THE NAME AND SOCIAL SECURITY NUMBER OF EACH CERTIFICATE HOLDER OR APPLICANT FOR A CERTIFICATE OF LICENSE TO TEACH IN MISSOURI AND ALLOWED A CERTIFICATE HOLDER'S LICENSE TO BE SUSPENDED WITHIN 90 DAYS FOLLOWING NOTICE THAT SUCH CERTIFICATE HOLDER HAD FAILED TO PAY TAXES DUE, AND SUCH APPLICANT'S LICENSE COULD NOT BE ISSUED UNLESS: THE TAXES ARE PAID; AN ARRANGEMENT HAS BEEN MADE WITH THE DEPARTMENT OF REVENUE TO PAY THE TAXES; THE TAXES WERE PAID UNDER PROTEST; OR THE TAX LIABILITY IS FOUND TO BE REASONABLY DISPUTED
SA #11 - REMOVED PROVISIONS FROM THE BILL WHICH MODIFIED CERTAIN SOCIAL AND CONTRIBUTION TAX CREDITS BY EXPANDING THE DEFINITION OF TAXPAYER, REDUCING THE AMOUNT OF TAX CREDIT AWARDS FOR CONTRIBUTIONS RECEIVED, AND ALLOWING SUCH TAX CREDITS TO BE TRANSFERRABLE
SA #12 - MODIFIES PROVISIONS OF THE JOB RETENTION BENEFITS PROVIDED UNDER THE COMPETE MISSOURI PROGRAM BY SUBJECTING WITHHOLDING TAX RETENTION BENEFITS TO A SIX MILLION DOLLAR FISCAL YEAR CAP AND ALLOWING RETENTION OF UP TO ONE HUNDRED PERCENT OF WITHHOLDINGS TAXES OVER A TEN YEAR PERIOD
SA #15 - PROVIDES A SMALL PROJECT EXEMPTION FROM THE SEVENTY-FIVE MILLION DOLLAR FISCAL YEAR CAP ON HISTORIC PRESERVATION TAX CREDITS AND REMOVES THE EXEMPTION FROM SUCH CAP, CONTAINED IN THE BILL, FOR PROJECTS FUNDED AT LEAST PARTIALLY BY TAX EXEMPT BOND ISSUANCE THAT ARE ELIGIBLE TO RECEIVE FEDERAL 4% LOW INCOME HOUSING TAX CREDITS
SA #16 - CAPS AUTHORIZATIONS OF LOW INCOME HOUSING TAX CREDITS AT NO MORE THAN ONE HUNDRED MILLION DOLLARS PER FISCAL YEAR, PROHIBITS TAXPAYERS FROM CARRYING BACK LOW INCOME HOUSING TAX CREDITS TO PREVIOUS TAXABLE YEARS AND INCREASES THE DATE ON WHICH AUTHORIZATIONS OF LOW INCOME HOUSING TAX CREDITS WILL BE PROHIBITED TO AUGUST 28, 2019. THE AMENDMENT PROHIBITS THE AUTHORIZATION OF NEIGHBORHOOD PRESERVATION TAX CREDITS AFTER JULY 1, 2011, AND SUBJECTS INDIVIDUALS EMPLOYED AS THE EXECUTIVE DIRECTOR OF THE MISSOURI HOUSING DEVELOPMENT COMMISSION TO THE ADVICE AND CONSENT OF THE SENATE. THE AMENDMENT ALSO ADDS A PROVISION THAT PROVIDES THAT INSURANCE COMPANIES THAT CLAIM PREMIUM TAX CREDITS OR DEDUCTIONS WILL NOT BE REQUIRED TO PAY ANY ADDITIONAL RETALIATORY TAX AS A RESULT OF CLAIMING SUCH CREDIT OR DEDUCTION
SA # 1 TO SA #16 - PROHIBITS THE AUTHORIZATION OF LOW INCOME HOUSING TAX CREDITS AFTER AUGUST 28, 2015 RATHER THAN AUGUST 28, 2019
SA #17 - REMOVES SECTION 137.1018 FROM THE BILL, WHICH REPEALED THE TAX CREDIT FOR RAILROAD ROLLING STOCK