HB1810 Amends statutes authorizing tax credits for investments in small businesses. businesses.
Sponsor: Gibbons, Michael R. (94) Effective Date:00/00/0000
CoSponsor: McClelland, Emmy L. (91) LR Number: 4051L.01I
Last Action: This Bill is a Substitute - Check Primary Bill HB1566
SS SCS HS HCS HB 1566 & 1810
Next Hearing:Hearing not scheduled
Calendar:Bill currently not on calendar
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Available Bill Summaries for HB1810 Copyright(c)
* Introduced

Available Bill Text for HB1810
* Introduced *

BILL SUMMARIES

INTRODUCED

HB 1810 -- Taxation:  Investment in Small Businesses

Co-Sponsors:  Gibbons, McClelland, Griesheimer, Levin, Froelker,
Dolan

This bill makes various changes to the provisions of tax credits
for investments in Missouri small businesses.  The bill:

(1)  Lowers the investment requirement of principal owners of
Missouri small businesses eligible for investment from 50% of
the business to 20% of the business;

(2)  Increases the statewide maximum of tax credits available
for investment in Missouri small businesses and community banks
or community development corporations from $19 million to $30
million;

(3)  Provides that $24 million of the $30 million maximum
statewide credit be available for qualified investments in
Missouri small businesses and $6 million for investment in
community banks  or community development corporations; and

(4)  Requires that no more than 20% of the tax credits available
for investments in community banks or community development
corporations be certified for any one project.


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