Missouri legislation · 2025 Regular Session
Missouri HB1242: Modifies the low-income housing tax credit, allowing priority allocation for certain projects in federally declared natural disa
Status: In committee, May 15, 2025
Modifies the low-income housing tax credit, allowing priority allocation for certain projects in federally declared natural disaster areas
What the bill says
From the introduced text:
FIRST REGULAR SESSION HOUSE BILL NO. 1242 103RD GENERAL ASSEMBLY INTRODUCED BY REPRESENTATIVE JORDAN. 1981H.01I JOSEPHENGLER,ChiefClerk To repeal section 135.352, RSMo, and to enact in lieu thereof one new section relating to the low-income housing tax credit. Section A. Section 135.352, RSMo, is repealed and one new section enacted in lieu thereof, to be known as section 135.352, to read as follows: 135.352. 1. A taxpayer owning an interest in a qualified Missouri project shall, subject to the limitations provided under the provisions of subsection 3 of this section, be allowed a state tax credit, whether or not allowed a federal tax credit, to be termed the Missouri low-income housing tax credit, if the commission issues an eligibility statement for that project. 2. For qualified Missouri projects placed in service after January 1, 1997, the Missouri low-income housing tax credit available to a project shall be such amount as the commission shall determine is necessary to ensure the feasibility of the project, up to an amount equal to the federal low-income housing tax credit for a qualified Missouri project, for a federal tax period, and such amount shall be subtracted from the amount of state tax otherwise due for the same tax period. 3. No more than six million dollars in tax credits shall be authorized each fiscal year for …
Sponsors
- Steven Jordan (R, 151) · primary sponsor
Latest actions
- : Referred: Emerging Issues(H)
- : Read Second Time (H)
- : Introduced and Read First Time (H)
Common questions
- What is HB1242?
- HB1242 is a bill in the Missouri Legislature (2025 Regular Session): Modifies the low-income housing tax credit, allowing priority allocation for certain projects in federally declared natural disa.
- What does HB1242 do?
- Modifies the low-income housing tax credit, allowing priority allocation for certain projects in federally declared natural disaster areas
- What is the status of HB1242?
- In committee as of May 15, 2025. Latest action: Referred: Emerging Issues(H) (May 15, 2025).
- Who sponsored HB1242?
- Steven Jordan (R, 151).
- Where is the official record for HB1242?
- On the Missouri Legislature website: https://house.mo.gov/BillContent.aspx?bill=HB1242&year=2025&code=R
Source: official Missouri record. Tracked by Delilah, AI for legislation across all 50 states and Congress.