This bill makes several changes to the Missouri Certified Capital Company (CAPCO) Law. In its main provisions, the bill:

(1) Authorizes agricultural businesses to receive qualified CAPCO investments, defines "qualified Missouri agricultural businesses," and requires at least 25% of the certified capital raised after August 28, 2000, to be invested in qualified agricultural businesses;

(2) Changes the definition of "affiliate of certified company" from any person owning or controlling 10% of voting securities to persons owning or controlling 15% of such securities;

(3) Changes the total amount of certified capital for which tax credits are allowed after 1997 from a cap of $10 million in aggregate credits to an additional $5 million in aggregate credits for calendar year 1998 and an additional $5 million in aggregate credits for calendar year 2000; thereafter, the annual aggregate credits are limited to 10% of the cumulative credits earned in previous years;

(4) Removes the provision that certified capital statutorily limited in a calendar year is to be allocated in the succeeding calendar year; and

(5) Allows certified capital not required to be invested in qualified investments to be invested with certain investors, affiliates, or subsidiaries of CAPCOs.

The bill also establishes as a pilot project a landlord registration system in the city of Kansas City, beginning January 1, 2001, and terminating January 1, 2006, for all landlords who lease properties in the city. Landlords are required to complete a registration form with the city and to provide address and telephone information for the purpose of contacting landlords or their legal representative to ensure compliance with safety and code requirements. Beginning in 2002, the city is to issue an annual report to the Governor and the General Assembly on the effectiveness of this pilot program in ensuring greater compliance with public safety and code regulations.

Finally, the bill authorizes up to $1 million of the tax credits available for the small business tax credit program to be available for investments in certain commercial and physical research companies engaged solely in pharmaceutical research and development. By September 1 of each year, any unused balance of the $1 million set aside may be used by companies qualifying under the Capital Tax Credit Program.