HB 452 -- Income Tax Credit for Certain Costs Associated with
Power Outages

Sponsor:  Nasheed

Beginning January 1, 2007, this bill authorizes an income tax
credit for 100% of the costs directly related to the loss of
electrical power for three or more days, including replacement of
spoiled food and hotel rooms.  The Department of Revenue will
verify with the taxpayer's electric utility company that the
power outage lasted at least three days at the taxpayer's home.

The tax credit may be taken against individual and corporate
income tax and is retroactive to tax years beginning January 1,
2006.  The tax credit is refundable and not transferable.

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

Missouri House of Representatives
94th General Assembly, 1st Regular Session
Last Updated July 25, 2007 at 11:19 am