348.434. Limitations on credits issued.

MISSOURI STATUTES AND CODES

348.434. Limitations on credits issued.

Limitations on credits issued.

348.434. 1. The aggregate of tax credits issued per fiscal yearpursuant to sections 348.430 and 348.432 shall not exceed six milliondollars.

2. Upon July 2, 1999, and ending June 30, 2000, tax credits shall beissued pursuant to section 348.430, except that, the authority shallallocate no more than three million dollars to fund section 348.432 infiscal year 2000. Beginning in fiscal year 2001 and each subsequent year,tax credits shall be issued pursuant to section 348.432.

3. Beginning the first day of May of each fiscal year followingimplementation of section 348.432, the authority may determine the extentof tax credits, pursuant to section 348.432, that will be utilized in eachfiscal year. If the authority determines that:

(1) Less than six million dollars for a fiscal year is to be utilizedin tax credits pursuant to section 348.432; and

(2) The assets available to the authority, pursuant to section348.430, do not exceed twelve million dollars;

then, the authority may offer the remaining authorized tax credits beissued pursuant to section 348.430.