Revisor Home

Title X TAXATION AND REVENUE

Chapter 135

previous next Effective - 28 Aug 1998bottom

  135.270.  Strategic initiative investment income tax refund, automobile manufacturers or assemblers. — 1.  Any automobile manufacturer or assembler, as defined by standard industrial classification code (SIC) number 3711, that is located within a state enterprise zone established pursuant to sections 135.200 to 135.256 may make an application to the department of economic development for a strategic initiative investment income tax refund.

  2.  Such refunds shall be approved only if the total amount of tax credits certified for the automobile manufacturer or assembler in the four calendar years immediately preceding 1998 exceeded the company's total Missouri tax on taxable income in those years by an amount equal to at least twenty million dollars.  In such cases, a portion of tax credits earned shall constitute an overpayment of taxes and may be refunded to the taxpayer in the manner authorized by this section as a strategic initiative income tax fund.

  3.  The department shall evaluate and may approve such applications based upon the importance of the manufacturer to the economy of Missouri, the company's investment of at least one hundred million dollars in new facilities or equipment, and the number of jobs to be created or retained as a result of new investment.  Such applications may be approved annually for no longer than five successive years.  The maximum amount of refund that may be awarded to the manufacturer or assembler shall not exceed two million dollars per year.

­­--------

(L. 1998 S.B. 827 § 1)


---- end of effective   28 Aug 1998 ----

use this link to bookmark section  135.270


In accordance with Section 3.090, the language of statutory sections enacted during a legislative session are updated and available on this website on the effective date of such enacted statutory section. Revisor Home    

Other Information
 Recent Sections Editorials May Be Cited As Tables & Forms Multiple Enact
Repeal & Transfer Definitions

Site changes Contact
Other Links
Oversight Library MO WebMasters
Senate
Missouri Senate
State of Missouri
MO.gov
House
Missouri House

@00:45:14.9 11