HB 1424 -- Taxation: Credit for Lead Abatement
This bill authorizes various state tax credits to owners of
certain child-occupied facilities who participate in a lead
abatement project. The credit may be taken against income tax,
franchise tax, or financial institutions tax.
The credit will be equal to 50% of the lead abatement cost to
the owner and cannot be claimed in more than 2 consecutive
years. The credit is not refundable but can be carried back for
3 years or forward for 5 years.
The bill requires a tax certificate from the Department of
Health to qualify for the credit.
The credit will apply to tax year 2000 and thereafter.
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Last Updated October 5, 2000 at 11:33 am