HB1626 Creates the Missouri Veterans' Business Council.
Sponsor: Evans, Brent (92) Effective Date:00/00/0000
CoSponsor: LR Number: 2310L.01I
Last Action: COMMITTEE: COMMERCE
02/23/2000 - Public Hearing Held (H)
HB1626
Next Hearing:Hearing not scheduled
Calendar:Bill currently not on calendar
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Available Bill Summaries for HB1626 Copyright(c)
* Introduced

Available Bill Text for HB1626
* Introduced *

BILL SUMMARIES

INTRODUCED

HB 1626 -- Missouri Veterans' Business Council Act

Sponsor:  Evans

This bill establishes the Missouri Veterans' Business Council
within the Department of Economic Development (DED).  The
council is comprised of 15 members, appointed by the Governor
with the advice and consent of the Senate, representing veteran
business owners, disabled veteran business owners, and the
veteran service community.  The Lieutenant Governor and Director
of DED serve as ex officio members of the council.  The
council's duties include identifying veteran-owned and disabled
veteran-owned businesses; reviewing state policies and programs
for their impact on these businesses; monitoring state and local
legislative proposals; providing public information; providing
seed capital for start-up veteran-owned businesses; establishing
a microloan program and revolving loan fund for entrepreneurial
support programs; and administering the newly created Missouri
Veterans' Business Council Fund.  This fund may receive
appropriations made by the state and moneys from transfers
authorized by the Missouri Veterans' Commission from its Capital
Improvement Trust Fund.  Beginning January 1, 2002, taxpayers
contributing money or property to any microloan program or
revolving loan fund established by the Missouri Veterans'
Business Council may receive a 50% credit against income taxes,
corporate franchise taxes, or taxes on financial institutions.
Credits exceeding the tax liability may be carried back 3 years
or carried forward 5 years, and may be assigned, transferred, or
sold.  The total amount of tax credits may not exceed $2 million
each year.


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Last Updated October 5, 2000 at 11:34 am