HB 662 -- Income Tax Credit for Storm Shelters

Sponsor:  Ruzicka

Beginning January 1, 2010, this bill authorizes an income tax
credit for 50% of the cost of construction or $2,000, whichever
is less, of a storm shelter built in America and installed on or
after January 1, 2009.

The maximum amount of tax credits in any fiscal year will be $2
million.  If the applications exceed that amount, the Director of
the Department of Revenue will establish a procedure by which the
credits are apportioned among all applicants.  The credit is not
refundable or transferable.

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 9:25 am