135.529. Sale or transfer of credit--rulemaking authority--administrative review. - Missouri Statutes

Sale or transfer of credit--rulemaking authority--administrativereview.

135.529. 1. The tax credit established pursuant to sections 135.500to 135.529 may be sold or transferred in accordance with regulationsadopted by the department. Any such sale or transfer shall not affect thetime schedule for taking the tax credit, as provided in sections 135.500 to135.529. Any premium tax credits recaptured pursuant to section 135.520shall be the liability of the taxpayer which actually claimed the credit.In approving the sale or transfer of the credit pursuant to this section,the department may require the transferor or the transferee or both thetransferor and the transferee to execute guarantees or post bonds withrespect to any potential credit recapture.

2. No rule or portion of a rule promulgated under the authority ofsections 135.500 to 135.529 shall become effective unless it has beenpromulgated pursuant to the provisions of chapter 536, RSMo. Thedepartment shall make and promulgate emergency rules and regulationsconsistent with the provisions of sections 135.500 to 135.529 as arenecessary or useful to carry out the provisions of sections 135.500 to135.529, pursuant to section 536.025, RSMo.

3. Every final order, decision, license or other official act of thedirector pursuant to sections 135.500 to 135.529 is subject toadministrative review in accordance with chapter 621, RSMo.

(L. 1996 H.B. 1237)

Effective 1-1-97