HB 1030 -- Income Tax Credit for Natural Disaster Costs

Sponsor:  Norr

Beginning January 1, 2007, this bill authorizes an individual
income tax credit for the costs of repairs or losses incurred in
a federally and state-declared natural disaster area.  The credit
will be equal to $500 for single taxpayers and $750 for couples.
The tax credit is refundable and capped at $5 million annually.
No taxpayer will receive more than one credit.

The provisions of the bill will expire on December 31 six years
from the effective date.

Missouri House of Representatives
94th General Assembly, 1st Regular Session
Last Updated July 25, 2007 at 11:21 am