SB 891 Modifies provisions of certain tax credit programs
Sponsor: Crowell
LR Number: 4575S.02I Fiscal Note:
Committee: Governmental Accountability and Fiscal Oversight
Last Action: 2/8/2010 - Second Read and Referred S Governmental Accountability and Fiscal Oversight Committee Journal Page: S247
Title: Calendar Position:
Effective Date: August 28, 2010

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Current Bill Summary


SB 891 - This act prohibits recipients of Missouri Development Finance Board Infrastructure Development Fund Tax Credits and Low Income Housing Tax Credits from making campaign contributions for the two years immediately following application for such credits. Taxpayers who have made any form of campaign contributions will be prohibited from receiving Missouri Development Finance Board Infrastructure Development Fund Tax Credits and Low Income Housing Tax Credits for two years following the date of such contribution. Any taxpayer which receives tax credits and 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. Taxpayers are prohibited from receiving low income housing tax credits and any other state tax credit for the same project. Any taxpayer found to have received low income housing tax credits and any other state tax credit for the same project will be subject to recapture. The act prohibits issuance of Low Income Housing and Missouri Development Finance Board Infrastructure Development Fund tax credits to taxpayers or charitable organizations with business relationships with members of the board or commission which administers such tax credit including any relatives of such board or commission member within the second degree of consanguinity or affinity.

Under Current law, the Missouri Housing Development Commission consists of the Governor, Lieutenant Governor, the State Treasurer, the Attorney General, and six members selected by the Governor, with the advice and consent of the Senate. This act changes the commission's membership to seven members selected by the Governor, with the advice and consent of the Senate; one member selected by the Speaker of the House of Representatives; and one member selected by the President Pro Tem of the Senate. Five of the individuals selected by the Governor must be knowledgeable in the areas of housing, finance, or construction; one must have an educational background or experience in urban planning; and one must have an educational background and experience in social work. No more than five of the members selected by the Governor can be from the same political party. Currently, two of the members selected by the Governor serve four-year terms. The act changes the length of time each member will serve on the commission by requiring three members selected by the Governor to serve four-year terms and the individuals selected by the Speaker of the House of Representatives and the Pro Tem to serve four-year terms. No member of the commission can be an elected official. Currently, only members who are appointed by the Governor are entitled to compensation of fifty dollars per day, plus reasonable and necessary expenses actually incurred in discharging his or her duties. This act would allow all appointed members to receive such compensation.

Provisions contained in this act are identical to the provisions of House Bill 1518 (2010).

JASON ZAMKUS