SB 470 Creates a tax credit for contributions to organizations for the preservation of Missouri's civil war sites
Sponsor: Graham
LR Number: 0644S.02I Fiscal Note:
Committee: Ways & Means
Last Action: 2/8/2007 - Second Read and Referred S Ways & Means Committee Journal Page: S228
Title: Calendar Position:
Effective Date: August 28, 2007

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Current Bill Summary


SB 470 - This act creates an income tax credit in an amount equal to fifty percent of a contribution made by a taxpayer to an eligible organization for the preservation of Missouri's civil war sites. The tax credit is nonrefundable, but may be carried forward five years until fully claimed. The tax credit is fully transferrable. The tax credit has an aggregate annual cap of one hundred thousand dollars and a per taxpayer annual cap of twenty five thousand dollars.

To the extent that tax credits remain unissued for the Neighborhood Assistance program, the first one hundred thousand dollars of such remaining tax credits shall be made available for issuance based upon contributions made to eligible organizations for the preservation of Missouri's civil war sites. The Department of Economic Development shall certify organizations which qualify under the program. Upon certification, the Department of Economic Development must notify the Department of Revenue as to an organization's certification status.

JASON ZAMKUS