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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 In2020
Program nameNeighborhood Preservation Tax Credit
Program purpose: Construction/rehabilitation
Statutory authority: Revised Statutes of Missouri Sections 135.475-135.487
Abating jurisdiction(s): State of Missouri
Applicable taxesIncome Tax; Corporate Franchise Tax; Bank Tax; Insurance Premium Tax; Financial Institutions Tax
Method of abatement: Tax Credit
Provisions for recapture: If the Director determines that the residence was not in good faith intended for long-term owner occupancy, then the Director may revoke any Tax Credits issued and seek recovery of those credits pursuant to Section 620.017, RSMo.
Gross revenue loss: $3,659,000
Reimbursement / offset: $0
Net revenue loss: $3,659,000
Type of loss: Active
Additional notes on dislosure(none)
Document sourcehttps://oa.mo.gov/accounting/reports/annual-reports/annual-comprehensive...