Missouri legislation · 2025 Regular Session
Missouri HB610: Establishes tax credits to revitalize Missouri downtowns and main streets
Status: In committee, April 28, 2025
What the bill says
To amend chapter 99, RSMo, by adding thereto six new sections relating to tax credits for downtown revitalization. Section A. Chapter 99, RSMo, is amended by adding thereto six new sections, to be known as sections 99.720, 99.722, 99.724, 99.726, 99.728, and 99.730, to read as follows: 99.720. 1. Sections 99.720 to 99.730 shall be known and may be cited as the "Revitalizing Missouri Downtowns and Main Streets Act". 2. As used in sections 99.720 to 99.730, the following terms mean, unless the context requires (2) "Qualified conversion expenditures", any amount properly chargeable to a capital a.
From the amended text:
To amend chapter 99, RSMo, by adding thereto six new sections relating to tax credits for downtown revitalization. Section A. Chapter 99, RSMo, is amended by adding thereto six new sections, to be known as sections 99.720, 99.722, 99.724, 99.726, 99.728, and 99.730, to read as follows: 99.720. 1. Sections 99.720 to 99.730 shall be known and may be cited as the "Revitalizing Missouri Downtowns and Main Streets Act". 2. As used in sections 99.720 to 99.730, the following terms mean, unless the context requires (2) "Qualified conversion expenditures", any amount properly chargeable to a capital account. The term "qualified conversion expenditures" shall not (b) Any expenditure attributable to the enlargement of an existing building; or (c) Tax-exempt properties; (3) "Qualified converted building", any building and its structural components if: (a) Prior to conversion, such building was nonresidential real property, as definedin26U.S.C.Section168(e)(2)(B),asamended,whichwasleased,oravailablefor lease, to office tenants; (b) Such building has been substantially converted from an office use to a predominantly residential use, defined as more than fifty percent of the gross square EXPLANATION -- Matter enclosed in bold-faced brackets [thus] in the above bill is not enacted and is intended to be omitted from the law. Matter in bold-face type in the above bill is proposed language. HCS HBs 610 & 900 footage of the building, and may also include, …