HCS HB 320, 39 & 662 -- INCOME TAX CREDIT FOR STORM SHELTERS
(Swinger)

COMMITTEE OF ORIGIN:  Committee on Homeland Security

Beginning January 1, 2009, this substitute authorizes a one-time
income tax credit to a taxpayer for 50% of the cost of the
construction or $1,500, whichever is less, of a storm shelter
built in America and installed on or after January 1, 2003.  The
credit is not refundable or transferable.  The total amount of
credits, which will be issued on a first-come, first-served
filing basis, cannot exceed $2 million in any fiscal year.

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

FISCAL NOTE:  Estimated Cost on General Revenue Fund of Up to
$2,000,000 in FY 2010, FY 2011, and FY 2012.  No impact on Other
State Funds in FY 2010, FY 2011, and FY 2012.

Missouri House of Representatives
95th General Assembly, 1st Regular Session
Last Updated November 17, 2009 at 9:24 am