Section 135.766

Title X TAXATION AND REVENUE

Chapter 135

Effective - 28 Aug 2004, 3 histories, see footnote   (history) 

  *135.766.  Tax credit for guaranty fee paid by small businesses, when. — An eligible small business, as defined in Section 44 of the Internal Revenue Code, shall be allowed a credit against the tax otherwise due pursuant to chapter 143, RSMo, not including sections 143.191 to 143.265, RSMo, in an amount equal to any amount paid by the eligible small business to the United States Small Business Administration as a guaranty fee pursuant to obtaining Small Business Administration guaranteed financing and to programs administered by the United States Department of Agriculture for rural development or farm service agencies.

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(L. 1999 H.B. 139 § 4, Repealed L. 2000 S.B. 894 § A, L. 2004 H.B. 1603)

*Senate Bill 894 in 2000 repealed this section.  Senate Bill 894 was declared unconstitutional as a violation of the clear title requirement of Art. III, Section 23, of the Missouri Constitution (Home Builders of Greater St. Louis v. State, 75 S.W.3d 267 (Mo.banc 2002)), rendering the repeal of this section ineffective.  House Bill 1603 in 2004 authorized the reprinting of this section to indicate that this section is still valid and effective law.