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Tax Break Tracker Individual Entry

Each individual entry is a single program reported by a single jurisdiction in a given fiscal year. Because we want to track the level and quality of disclosure as well as the content, the values below -- with the exception of program names -- are entered exactly as they are reported. See our user guide for more explanations.

StateMissouri
Reporting JurisdictionMissouri
Jurisdiction type: State
Fiscal year ending In2021
Program nameMissouri Low Income Housing Tax Credit
Program purpose: Affordable Housing
Statutory authority: Revised Statutes of Missouri Sections 135.350-135.363
Abating jurisdiction(s): State of Missouri
Applicable taxesIncome Tax; Corporate Franchise Tax; Insurance Premium Tax; Financial Institutions Tax; Express Company Tax
Method of abatement: Tax Credit
Provisions for recapture: The Missouri Housing Development Commission monitors the properties for compliance and reports non-compliance to the Internal Revenue Service and Missouri Department of Revenue. Property owners found to be out of compliance are subject to recapture through the provisions of Section 135.355, RSMo and IRS §42.
Gross revenue loss: $144,395,000
Reimbursement / offset: $0
Net revenue loss: $144,395,000
Type of loss: Active
Additional notes on dislosure(none)
Document sourcehttps://oa.mo.gov/accounting/reports/annual-reports/annual-comprehensive...