HB 39 -- Income Tax Credit for Storm Shelters

Sponsor:  Sater

Beginning January 1, 2010, this bill authorizes an income tax
credit for 50% of the cost of the construction or $1,000,
whichever is less, of a new storm shelter built on or after
January 1, 2010.  The credit is not refundable or transferable,
and the cumulative amount of tax credits is limited to $2 million
annually.  The Director of the Department of Revenue must
establish a procedure to equally apportion the tax credit among
all taxpayers eligible for the credit if the total amount of
claims exceeds the cap.

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 9:23 am