HB 1980 -- Income Tax Credit for Renovations to Rental Property

Sponsor:  Kratky

Beginning January 1, 2011, this bill authorizes an income tax
credit for the costs incurred in the renovation of a taxpayer's
rented dwelling or 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, 2nd Regular Session
Last Updated September 14, 2010 at 3:12 pm