SB 0427 Authorizes additional $15 million in certified capital tax credits; allocates $10 million to start-up businesses
LR Number:S0662.03I Fiscal Note:0662-03
Committee:Local Government and Economic Development
Last Action:02/23/99 - Hearing Conducted S Local Government & Economic Journal page:
Development Committee
Effective Date:August 28, 1999
Full Bill Text | All Actions | Available Summaries | Senate Home Page | List of 1999 Senate Bills
Current Bill Summary

SB 427 - This act adds the definition of "qualified Missouri seed business" to the certified capital companies (CAPCO) statute. The act removes the discretionary authority of the Director of the Department of Economic Development in granting and apportioning the CAPCO tax credits. Aggregate credits are increased from $10 million to $25 million, with $10 million of the authorized credits to be utilized for investments in qualified Missouri seed businesses. The act also repeals the current statute authorizing the qualified research tax credit.