HB 1714 -- Income Tax Credit for Natural Disaster Losses

Sponsor:  Norr

Beginning January 1, 2008, 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 those
married filing combined.  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 December 31 six years from
the effective date.

Missouri House of Representatives
94th General Assembly, 2nd Regular Session
Last Updated October 15, 2008 at 3:11 pm