BOUCHER, GAMBARO, THOMPSON (72), KENNEDY AND HILGEMANN.
Read 1st time January 11, 2000, and 1000 copies ordered printed.
ANNE C. WALKER, Chief Clerk
AN ACT
To amend chapter 135, RSMo, relating to tax relief by adding thereto one new section relating to lead abatement projects.
Section A. Chapter 135, RSMo, is amended by adding thereto one new section, to be known as section 135.915, to read as follows:
135.915. 1. As used in this section, the following terms shall mean:
(1) "Child-occupied facility", as defined in section 701.300, RSMo;
(2) "Dwelling", as defined in section 701.300, RSMo;
(3) "Owner", as defined in section 701.300, RSMo;
(4) "Qualified lead abatement project", as defined in section 701.300, RSMo, and conforming to the requirements of sections 701.300 to 701.338, RSMo;
(5) "State tax liability", in the case of a business taxpayer, any liability incurred by such taxpayer pursuant to the provisions of chapter 143, RSMo, chapter 147, RSMo, chapter 148, RSMo, and chapter 153, RSMo, exclusive of the provisions relating to the withholding of tax as provided for in sections 143.191 to 143.265, RSMo, and related provisions, and in the case of an individual taxpayer, any liability incurred by such taxpayer pursuant to the provisions of chapter 143, RSMo;
2. For tax years beginning on or after January 1, 2001, an owner of any individual parcel of real estate which
contains a child-occupied facility or dwelling involved in a qualified lead abatement project shall, upon application
to and issuance of a certificate of tax credit by the department of health, be allowed to claim, for not more than
two consecutive tax years, a credit against such owner's state tax liability, in an amount equal to fifty percent of
costs paid during such owner's taxable year for such qualified lead abatement project. The credit shall be
nonrefundable, but may be carried back to the preceding three years and carried forward to the next five
succeeding taxable years until the full credit has been claimed. The department of health is authorized to adopt
any rules or regulations deemed necessary for the effective administration of this section and is authorized to
charge a reasonable processing fee for the issuance of certificates of tax credits pursuant to this section. No rule or
portion of a rule promulgated pursuant to the authority of this section shall become effective unless it has been
promulgated pursuant to the provisions of chapter 536, RSMo.
Missouri House of Representatives