135.805. Certain information to be submitted annually, who, time period--due date of reporting requirements--requirements to apply to certain recipients, when--applicant in compliance, when, written n
Certain information to be submitted annually, who, time period--duedate of reporting requirements--requirements to apply to certainrecipients, when--applicant in compliance, when, writtennotification, when, records available for review--effectivedate--names of recipients to be made public.
135.805. 1. A recipient of any tax credit program, except domesticand social tax credits, environmental tax credits, or financial andinsurance tax credits, shall annually, for a period of three yearsfollowing the issuance of the tax credits, provide to the administeringagency the actual number of jobs created as a result of the tax credits, atthe location on the last day of the annual reporting period, separated bypart-time permanent and full-time permanent for each month of the precedingtwelve-month period.
2. A recipient of a community development tax credit shall annually,for a period of three years following issuance of tax credits, provide tothe administering agency information confirming the title and location ofthe corresponding project, the estimated or actual time period forcompletion of the project, and all geographic areas impacted by theproject.
3. A recipient of a redevelopment tax credit shall annually, for aperiod of three years following issuance of tax credits, provide to theadministering agency information confirming whether the property is usedfor residential, commercial, or governmental purposes, and the projected oractual project cost, labor cost, and date of completion.
4. A recipient of a business recruitment tax credit shall annually,for a period of three years following issuance of tax credits, provide tothe administering agency information confirming the category of business bysize, the address of the business headquarters and all offices locatedwithin this state, the number of employees at the time of the annualupdate, an updated estimate of the number of employees projected toincrease as a result of the completion of the project, and the estimated oractual project cost.
5. A recipient of a training and educational tax credit shallannually, for a period of three years following issuance of tax credits,provide to the administering agency information confirming the name andaddress of the educational institution used, the average salary of workersserved as of such annual update, the estimated or actual project cost, andthe number of employees and number of students served as of such annualupdate.
6. A recipient of a housing tax credit shall annually, for a periodof three years following issuance of tax credits, provide to theadministering agency information confirming the address of the property,the fair market value of the property, as defined in subsection 6 ofsection 135.802, and the projected or actual labor cost and completion dateof the project.
7. A recipient of an entrepreneurial tax credit shall annually, for aperiod of three years following issuance of tax credits, provide to theadministering agency information confirming the amount of investment andthe names of the project, fund, and research project.
8. A recipient of an agricultural tax credit shall annually, for aperiod of three years following issuance of tax credits, provide to theadministering agency information confirming the type of agriculturalcommodity, the amount of contribution, the type of equipment purchased, andthe name and description of the facility, except that if the agriculturalcredit is issued as a result of a producer member investing in a newgeneration processing entity or new generation cooperative then the newgeneration processing entity or new generation cooperative, and not therecipient, shall annually, for a period of three years following issuanceof tax credits, provide to the administering agency information confirmingthe type of agricultural commodity, the amount of contribution, the type ofequipment purchased, and the name and description of the facility.
9. A recipient of an environmental tax credit shall annually, for aperiod of three years following issuance of tax credits, provide to theadministering agency information detailing any change to the type ofequipment purchased, if applicable, and any change to any environmentalimpact statement, if such statement is required by state or federal law.
10. The reporting requirements established in this section shall bedue annually on June thirtieth of each year. No person or entity shall berequired to make an annual report until at least one year after the creditissuance date.
11. Where the sole requirement for receiving a tax credit in theenabling legislation of any tax credit is an obligatory assessment upon ataxpayer or a monetary contribution to a particular group or entity, thereporting requirements provided in this section shall apply to therecipient of such assessment or contribution and shall not apply to theassessed nor the contributor.
12. Where the enacting statutes of a particular tax credit program orthe rules of a particular administering agency require reporting ofinformation that includes the information required in sections 135.802 to135.810, upon reporting of the required information, the applicant shall bedeemed to be in compliance with the requirements of sections 135.802 to135.810. The administering agency shall notify in writing the departmentof economic development of the administering agency's status as custodianof any particular tax credit program and that all records pertaining to theprogram are available at the administering agency's office for review bythe department of economic development.
13. The provisions of subsections 1 to 10 of this section shall applybeginning on June 30, 2005.
14. Notwithstanding provisions of law to the contrary, every agencyof this state charged with administering a tax credit program authorizedunder the laws of this state shall make available for public inspection thename of each tax credit recipient and the amount of tax credits issued toeach such recipient.
15. The department of economic development shall make all informationprovided under the provisions of this section available for publicinspection on the department's web site and the Missouri accountabilityportal.
16. The administering agency of any tax credit program for whichreporting requirements are required under the provisions of subsection 1 ofthis section shall publish guidelines and may promulgate rules to implementthe provisions of such subsection. Any rule or portion of a rule, as thatterm is defined in section 536.010, RSMo, that is created under theauthority delegated in this section shall become effective only if itcomplies with and is subject to all of the provisions of chapter 536, RSMo,and, if applicable, section 536.028, RSMo. This section and chapter 536,RSMo, are nonseverable and if any of the powers vested with the generalassembly pursuant to chapter 536, RSMo, to review, to delay the effectivedate, or to disapprove and annul a rule are subsequently heldunconstitutional, then the grant of rulemaking authority and any ruleproposed or adopted after August 28, 2009, shall be invalid and void.
(L. 2004 S.B. 1099, A.L. 2008 H.B. 2058 merged with S.B. 931, A.L. 2009 H.B. 191)