320.092. Creates annual reporting requirements for certain tax credits. - Missouri Statutes

Creates annual reporting requirements for certain tax credits.

320.092. 1. Tax credits issued pursuant to sections 135.400, 135.750and 320.093, RSMo, shall be subject to oversight provisions. EffectiveJanuary 1, 2000, notwithstanding the provisions of section 32.057, RSMo,the board, department or authority issuing tax credits shall annuallyreport to the office of administration, president pro tem of the senate,the speaker of the house of representatives, and the joint committee oneconomic development regarding the tax credits issued pursuant to sections135.400, 135.750 and 320.093, RSMo, which were issued in the previousfiscal year. The report shall contain, but not be limited to, theaggregate number and dollar amount of tax credits issued by the board,department or authority, the number and dollar amount of tax creditsclaimed by taxpayers, and the number and dollar amount of tax creditsunclaimed by taxpayers as well as the number of years allowed for claims tobe made. This report shall be delivered no later than November of eachyear.

2. The reporting requirements established pursuant to subsection 1 ofthis section shall also apply to the department of economic development andthe Missouri development finance board established pursuant to section100.265, RSMo. The department and the Missouri development finance boardshall report on the tax credit programs which they respectively administerthat are authorized under the provisions of chapters 32, 100, 135, 178,253, 348, 447 and 620, RSMo.

(L. 1999 H.B. 701 § 2)