HB 1019 -- Income Tax Credit for Renovations to Rental Property

Sponsor:  Kratky

Beginning January 1, 2010, this bill authorizes an income tax
credit for costs associated with a taxpayer's renovation of a
rented residence.  The rental property must be a multi-family
dwelling with at least two units, one of which must be occupied
by the taxpayer.  The credit will be equal to 20% of the
renovation's costs, up to $2,500 per taxpayer.  The tax credit
will be issued on a first-come, first-served basis and is not
refundable or transferable but can be carried forward for three
years.  No more than $5 million of these tax credits can be
issued in any fiscal year.

The provisions of the bill will expire December 31 six years from
the effective date.

Missouri House of Representatives
95th General Assembly, 1st Regular Session
Last Updated November 17, 2009 at 9:26 am