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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.

Effected JurisdictionMissouri
Jurisdiction type: State
Fiscal year ending In2019
Program nameMissouri Low Income Housing Tax Credit
Program purpose: Affordable Housing
Statutory authority: Sections 135.350-135.363, RSMo
Abating jurisdiction(s): State of Missouri
Applicable taxesIncome Tax; Corporate Franchise Tax; Insurance Premium Tax; Other Financial Institutions Tax; Express Company Tax
Method of abatement: Tax Credit
Provisions for recapture: Property owners found to be out of compliance are subject to recapture through the provisions of Section 135.355, RSMo and IRS §42. The MOLIHTC reduced state taxes by $153,024,000 during fiscal year 2019.
Gross revenue loss: $153,024,000
Reimbursement / offset: $0
Net revenue loss: $153,024,000
Type of loss: Active
Additional notes on dislosure(none)
Document sourcehttps://oa.mo.gov/accounting/reports/annual-reports/annual-comprehensive...