Citation of law--definitions--tax credit, amount--claimapplication--limitation--transferability of credit--rulemakingauthority--sunset provision.
135.1150. 1. This section shall be known and may be cited as the"Residential Treatment Agency Tax Credit Act".
2. As used in this section, the following terms mean:
(1) "Certificate", a tax credit certificate issued under thissection;
(2) "Department", the Missouri department of social services;
(3) "Eligible donation", donations received from a taxpayer by anagency that are used solely to provide direct care services to children whoare residents of this state. Eligible donations may include cash, publiclytraded stocks and bonds, and real estate that will be valued and documentedaccording to rules promulgated by the department of social services. Forpurposes of this section, "direct care services" include but are notlimited to increasing the quality of care and service for children throughimproved employee compensation and training;
(4) "Qualified residential treatment agency" or "agency", aresidential care facility that is licensed under section 210.484, RSMo,accredited by the Council on Accreditation (COA), the Joint Commission onAccreditation of Healthcare Organizations (JCAHO), or the Commission onAccreditation of Rehabilitation Facilities (CARF), and is under contractwith the Missouri department of social services to provide treatmentservices for children who are residents or wards of residents of thisstate, and that receives eligible donations. Any agency that operates morethan one facility or at more than one location shall be eligible for thetax credit under this section only for any eligible donation made tofacilities or locations of the agency which are licensed and accredited;
(5) "Taxpayer", any of the following individuals or entities who makean eligible donation to an agency:
(a) A person, firm, partner in a firm, corporation, or a shareholderin an S corporation doing business in the state of Missouri and subject tothe state income tax imposed in chapter 143, RSMo;
(b) A corporation subject to the annual corporation franchise taximposed in chapter 147, RSMo;
(c) An insurance company paying an annual tax on its gross premiumreceipts in this state;
(d) Any other financial institution paying taxes to the state ofMissouri or any political subdivision of this state under chapter 148,RSMo;
(e) An individual subject to the state income tax imposed in chapter143, RSMo;
(f) Any charitable organization which is exempt from federal incometax and whose Missouri unrelated business taxable income, if any, would besubject to the state income tax imposed under chapter 143, RSMo.
3. For all taxable years beginning on or after January 1, 2007, anytaxpayer shall be allowed a credit against the taxes otherwise due underchapter 147, 148, or 143, RSMo, excluding withholding tax imposed bysections 143.191 to 143.265, RSMo, in an amount equal to fifty percent ofthe amount of an eligible donation, subject to the restrictions in thissection. The amount of the tax credit claimed shall not exceed the amountof the taxpayer's state income tax liability in the tax year for which thecredit is claimed. Any amount of credit that the taxpayer is prohibited bythis section from claiming in a tax year shall not be refundable, but maybe carried forward to any of the taxpayer's four subsequent taxable years.
4. To claim the credit authorized in this section, an agency maysubmit to the department an application for the tax credit authorized bythis section on behalf of taxpayers. The department shall verify that theagency has submitted the following items accurately and completely:
(1) A valid application in the form and format required by thedepartment;
(2) A statement attesting to the eligible donation received, whichshall include the name and taxpayer identification number of the individualmaking the eligible donation, the amount of the eligible donation, and thedate the eligible donation was received by the agency; and
(3) Payment from the agency equal to the value of the tax credit forwhich application is made.
If the agency applying for the tax credit meets all criteria required bythis subsection, the department shall issue a certificate in theappropriate amount.
5. An agency may apply for tax credits in an aggregate amount thatdoes not exceed forty percent of the payments made by the department to theagency in the preceding twelve months.
6. Tax credits issued under this section may be assigned,transferred, sold, or otherwise conveyed, and the new owner of the taxcredit shall have the same rights in the credit as the taxpayer. Whenevera certificate is assigned, transferred, sold, or otherwise conveyed, anotarized endorsement shall be filed with the department specifying thename and address of the new owner of the tax credit or the value of thecredit.
7. The department shall promulgate rules to implement the provisionsof this section. Any rule or portion of a rule, as that term is defined insection 536.010, RSMo, that is created under the authority delegated inthis section shall become effective only if it complies with and is subjectto all of the provisions of chapter 536, RSMo, and, if applicable, section536.028, RSMo. This section and chapter 536, RSMo, are nonseverable and ifany of the powers vested with the general assembly pursuant to chapter 536,RSMo, to review, to delay the effective date, or to disapprove and annul arule are subsequently held unconstitutional, then the grant of rulemakingauthority and any rule proposed or adopted after August 28, 2006, shall beinvalid and void.
8. Under section 23.253, RSMo, of the Missouri sunset act:
(1) The provisions of the new program authorized under this sectionshall automatically sunset six years after August 28, 2006, unlessreauthorized by an act of the general assembly; and
(2) If such program is reauthorized, the program authorized underthis section shall automatically sunset twelve years after the effectivedate of the reauthorization of this section; and
(3) This section shall terminate on September first of the calendaryear immediately following the calendar year in which the programauthorized under this section is sunset.
Citation of law--definitions--tax credit, amount--claimapplication--limitation--transferability of credit--rulemakingauthority--sunset provision.
135.1150. 1. This section shall be known and may be cited as the"Residential Treatment Agency Tax Credit Act".
2. As used in this section, the following terms mean:
(1) "Certificate", a tax credit certificate issued under thissection;
(2) "Department", the Missouri department of social services;
(3) "Eligible donation", donations received from a taxpayer by anagency that are used solely to provide direct care services to children whoare residents of this state. Eligible donations may include cash, publiclytraded stocks and bonds, and real estate that will be valued and documentedaccording to rules promulgated by the department of social services. Forpurposes of this section, "direct care services" include but are notlimited to increasing the quality of care and service for children throughimproved employee compensation and training;
(4) "Qualified residential treatment agency" or "agency", aresidential care facility that is licensed under section 210.484, RSMo,accredited by the Council on Accreditation (COA), the Joint Commission onAccreditation of Healthcare Organizations (JCAHO), or the Commission onAccreditation of Rehabilitation Facilities (CARF), and is under contractwith the Missouri department of social services to provide treatmentservices for children who are residents or wards of residents of thisstate, and that receives eligible donations. Any agency that operates morethan one facility or at more than one location shall be eligible for thetax credit under this section only for any eligible donation made tofacilities or locations of the agency which are licensed and accredited;
(5) "Taxpayer", any of the following individuals or entities who makean eligible donation to an agency:
(a) A person, firm, partner in a firm, corporation, or a shareholderin an S corporation doing business in the state of Missouri and subject tothe state income tax imposed in chapter 143, RSMo;
(b) A corporation subject to the annual corporation franchise taximposed in chapter 147, RSMo;
(c) An insurance company paying an annual tax on its gross premiumreceipts in this state;
(d) Any other financial institution paying taxes to the state ofMissouri or any political subdivision of this state under chapter 148,RSMo;
(e) An individual subject to the state income tax imposed in chapter143, RSMo;
(f) Any charitable organization which is exempt from federal incometax and whose Missouri unrelated business taxable income, if any, would besubject to the state income tax imposed under chapter 143, RSMo.
3. For all taxable years beginning on or after January 1, 2007, anytaxpayer shall be allowed a credit against the taxes otherwise due underchapter 147, 148, or 143, RSMo, excluding withholding tax imposed bysections 143.191 to 143.265, RSMo, in an amount equal to fifty percent ofthe amount of an eligible donation, subject to the restrictions in thissection. The amount of the tax credit claimed shall not exceed the amountof the taxpayer's state income tax liability in the tax year for which thecredit is claimed. Any amount of credit that the taxpayer is prohibited bythis section from claiming in a tax year shall not be refundable, but maybe carried forward to any of the taxpayer's four subsequent taxable years.
4. To claim the credit authorized in this section, an agency maysubmit to the department an application for the tax credit authorized bythis section on behalf of taxpayers. The department shall verify that theagency has submitted the following items accurately and completely:
(1) A valid application in the form and format required by thedepartment;
(2) A statement attesting to the eligible donation received, whichshall include the name and taxpayer identification number of the individualmaking the eligible donation, the amount of the eligible donation, and thedate the eligible donation was received by the agency; and
(3) Payment from the agency equal to the value of the tax credit forwhich application is made.
If the agency applying for the tax credit meets all criteria required bythis subsection, the department shall issue a certificate in theappropriate amount.
5. An agency may apply for tax credits in an aggregate amount thatdoes not exceed forty percent of the payments made by the department to theagency in the preceding twelve months.
6. Tax credits issued under this section may be assigned,transferred, sold, or otherwise conveyed, and the new owner of the taxcredit shall have the same rights in the credit as the taxpayer. Whenevera certificate is assigned, transferred, sold, or otherwise conveyed, anotarized endorsement shall be filed with the department specifying thename and address of the new owner of the tax credit or the value of thecredit.
7. The department shall promulgate rules to implement the provisionsof this section. Any rule or portion of a rule, as that term is defined insection 536.010, RSMo, that is created under the authority delegated inthis section shall become effective only if it complies with and is subjectto all of the provisions of chapter 536, RSMo, and, if applicable, section536.028, RSMo. This section and chapter 536, RSMo, are nonseverable and ifany of the powers vested with the general assembly pursuant to chapter 536,RSMo, to review, to delay the effective date, or to disapprove and annul arule are subsequently held unconstitutional, then the grant of rulemakingauthority and any rule proposed or adopted after August 28, 2006, shall beinvalid and void.
8. Under section 23.253, RSMo, of the Missouri sunset act:
(1) The provisions of the new program authorized under this sectionshall automatically sunset six years after August 28, 2006, unlessreauthorized by an act of the general assembly; and
(2) If such program is reauthorized, the program authorized underthis section shall automatically sunset twelve years after the effectivedate of the reauthorization of this section; and
(3) This section shall terminate on September first of the calendaryear immediately following the calendar year in which the programauthorized under this section is sunset.
Citation of law--definitions--tax credit, amount--claimapplication--limitation--transferability of credit--rulemakingauthority--sunset provision.
135.1150. 1. This section shall be known and may be cited as the"Residential Treatment Agency Tax Credit Act".
2. As used in this section, the following terms mean:
(1) "Certificate", a tax credit certificate issued under thissection;
(2) "Department", the Missouri department of social services;
(3) "Eligible donation", donations received from a taxpayer by anagency that are used solely to provide direct care services to children whoare residents of this state. Eligible donations may include cash, publiclytraded stocks and bonds, and real estate that will be valued and documentedaccording to rules promulgated by the department of social services. Forpurposes of this section, "direct care services" include but are notlimited to increasing the quality of care and service for children throughimproved employee compensation and training;
(4) "Qualified residential treatment agency" or "agency", aresidential care facility that is licensed under section 210.484, RSMo,accredited by the Council on Accreditation (COA), the Joint Commission onAccreditation of Healthcare Organizations (JCAHO), or the Commission onAccreditation of Rehabilitation Facilities (CARF), and is under contractwith the Missouri department of social services to provide treatmentservices for children who are residents or wards of residents of thisstate, and that receives eligible donations. Any agency that operates morethan one facility or at more than one location shall be eligible for thetax credit under this section only for any eligible donation made tofacilities or locations of the agency which are licensed and accredited;
(5) "Taxpayer", any of the following individuals or entities who makean eligible donation to an agency:
(a) A person, firm, partner in a firm, corporation, or a shareholderin an S corporation doing business in the state of Missouri and subject tothe state income tax imposed in chapter 143, RSMo;
(b) A corporation subject to the annual corporation franchise taximposed in chapter 147, RSMo;
(c) An insurance company paying an annual tax on its gross premiumreceipts in this state;
(d) Any other financial institution paying taxes to the state ofMissouri or any political subdivision of this state under chapter 148,RSMo;
(e) An individual subject to the state income tax imposed in chapter143, RSMo;
(f) Any charitable organization which is exempt from federal incometax and whose Missouri unrelated business taxable income, if any, would besubject to the state income tax imposed under chapter 143, RSMo.
3. For all taxable years beginning on or after January 1, 2007, anytaxpayer shall be allowed a credit against the taxes otherwise due underchapter 147, 148, or 143, RSMo, excluding withholding tax imposed bysections 143.191 to 143.265, RSMo, in an amount equal to fifty percent ofthe amount of an eligible donation, subject to the restrictions in thissection. The amount of the tax credit claimed shall not exceed the amountof the taxpayer's state income tax liability in the tax year for which thecredit is claimed. Any amount of credit that the taxpayer is prohibited bythis section from claiming in a tax year shall not be refundable, but maybe carried forward to any of the taxpayer's four subsequent taxable years.
4. To claim the credit authorized in this section, an agency maysubmit to the department an application for the tax credit authorized bythis section on behalf of taxpayers. The department shall verify that theagency has submitted the following items accurately and completely:
(1) A valid application in the form and format required by thedepartment;
(2) A statement attesting to the eligible donation received, whichshall include the name and taxpayer identification number of the individualmaking the eligible donation, the amount of the eligible donation, and thedate the eligible donation was received by the agency; and
(3) Payment from the agency equal to the value of the tax credit forwhich application is made.
If the agency applying for the tax credit meets all criteria required bythis subsection, the department shall issue a certificate in theappropriate amount.
5. An agency may apply for tax credits in an aggregate amount thatdoes not exceed forty percent of the payments made by the department to theagency in the preceding twelve months.
6. Tax credits issued under this section may be assigned,transferred, sold, or otherwise conveyed, and the new owner of the taxcredit shall have the same rights in the credit as the taxpayer. Whenevera certificate is assigned, transferred, sold, or otherwise conveyed, anotarized endorsement shall be filed with the department specifying thename and address of the new owner of the tax credit or the value of thecredit.
7. The department shall promulgate rules to implement the provisionsof this section. Any rule or portion of a rule, as that term is defined insection 536.010, RSMo, that is created under the authority delegated inthis section shall become effective only if it complies with and is subjectto all of the provisions of chapter 536, RSMo, and, if applicable, section536.028, RSMo. This section and chapter 536, RSMo, are nonseverable and ifany of the powers vested with the general assembly pursuant to chapter 536,RSMo, to review, to delay the effective date, or to disapprove and annul arule are subsequently held unconstitutional, then the grant of rulemakingauthority and any rule proposed or adopted after August 28, 2006, shall beinvalid and void.
8. Under section 23.253, RSMo, of the Missouri sunset act:
(1) The provisions of the new program authorized under this sectionshall automatically sunset six years after August 28, 2006, unlessreauthorized by an act of the general assembly; and
(2) If such program is reauthorized, the program authorized underthis section shall automatically sunset twelve years after the effectivedate of the reauthorization of this section; and
(3) This section shall terminate on September first of the calendaryear immediately following the calendar year in which the programauthorized under this section is sunset.
