GAMBARO, DAVIS (122) AND THOMPSON (72).
Read 1st time January 27, 2000, and 1000 copies ordered printed.
ANNE C. WALKER, Chief Clerk
AN ACT
To amend chapter 135, RSMo, relating to tax relief by adding thereto one new section relating to the tax credit for donations for public schools and school district libraries.
Section A. Chapter 135, RSMo, is amended by adding thereto one new section, to be known as section 135.950, to read as follows:
135.950. 1. For all tax years beginning on or after January 1, 2001, but before January 1, 2004, any business firm, as defined in section 32.105, RSMo, which makes a cash donation to be used by a school district to purchase books, materials, computers, Internet services or equipment for its libraries or to otherwise maintain updated libraries, or an approved donation of new books, new equipment or Internet services to a school district for its libraries shall, subject to availability, be allowed a nonrefundable credit against the tax otherwise due pursuant to chapter 143, RSMo, not including sections 143.191 to 143.265, RSMo, in an amount equal to the lesser of fifty percent of the amount of the donation or ten thousand dollars. The department of secondary and elementary education shall establish guidelines for approved donations of new books, new equipment and Internet services. Any noncash donation which meets the department's guidelines shall also be subject to the approval of the school district receiving the noncash donation. For purposes of this section, "approved donations" are those which meet the guidelines of the department of secondary and elementary education and are accepted by the school district for library use. The total amount of credits available annually pursuant to this subsection is five million dollars; provided that, any credits unused in a given tax year shall be added to the total amount of credits available for the subsequent tax year.
2. For all tax years beginning on or after January 1, 2001, any business firm, as defined in section 32.105, RSMo, which makes a cash donation to be used by a school district to hire a certified librarian or librarians shall, subject to availability, be allowed a nonrefundable credit against the tax otherwise due pursuant to chapter 143, RSMo, not including sections 143.191 to 143.265, RSMo, in an amount equal to the lesser of twenty-five percent of the amount of the donation or ten thousand dollars. The total amount of credits available annually pursuant to this subsection is five million dollars; provided that, any credits unused in a given tax year shall be added to the total amount of credits available for the subsequent tax year.
3. To claim a tax credit allowed pursuant to subsection 1 or 2 of this section or both subsections 1 and 2 of this section, a business firm shall submit an application to the department of secondary and elementary education along with any documentation deemed necessary by the department of secondary and elementary education. Necessary documentation may include certification of the amount of a cash donation and certification of the acceptance of an approved donation from the school district receiving such donation. The department of secondary and elementary education shall, upon receipt of an application and appropriate documentation, issue an applicant business firm a certificate of tax credit in an appropriate amount. The department of secondary and elementary education shall issue tax credits allowed pursuant to subsections 1 and 2 of this section in the order applications are received.
4. The department of secondary and elementary education is authorized to promulgate any rules necessary for the implementation of the tax credits allowed by subsections 1 and 2 of this section. No rule or portion of a rule shall become effective unless it has been promulgated pursuant to the provisions of chapter 536, RSMo.
5. A business firm need not file such certificate of tax credit issued pursuant to this section with its tax return, but
shall retain such certificate or certificates of tax credit with all other tax records for the tax year in which the credit
or credits are claimed.
Missouri House of Representatives