135.478. As used in sections 135.481 to 135.487, the following termsmean:
(1) "Department", the department of economic development;
(2) "Director", the director of the department of economicdevelopment;
(3) "Distressed community", as defined in section 135.530;
(4) "Eligible costs for a new residence", expenses incurred forproperty acquisition, development, site preparation other than demolition,surveys, architectural and engineering services and construction and allother necessary and incidental expenses incurred for constructing a newmarket rate residence, which is or will be owner-occupied, which is notreplacing a national register listed or local historic structure; exceptthat, costs paid for by the taxpayer with grants or forgivable loans, otherthan tax credits, provided pursuant to state or federal governmentalprograms are ineligible;
(5) "Eligible costs for rehabilitation", expenses incurred for therenovation or rehabilitation of an existing residence including sitepreparation, surveys, architectural and engineering services, construction,modification, expansion, remodeling, structural alteration, replacementsand alterations; except that, costs paid for by the taxpayer with grants orforgivable loans other than tax credits provided pursuant to state orfederal governmental programs are ineligible;
(6) "Eligible residence", a single-family residence forty years ofage or older, located in this state and not within a distressed communityas defined by section 135.530, which is occupied or intended to be oroccupied long-term by the owner or offered for sale at market rate forowner-occupancy and which is either located within a United States censusblock group which, if in a metropolitan statistical area, has a medianhousehold income of less than ninety percent, but greater than or equal toseventy percent of the median household income for the metropolitanstatistical area in which the census block group is located, or which, iflocated within a United States census block group in a nonmetropolitanarea, has a median household income of less than ninety percent, butgreater than or equal to seventy percent of the median household income forthe nonmetropolitan areas in the state;
(7) "Flood plain", any land or area susceptible to being inundated bywater from any source or located in a one hundred-year flood plain areadetermined by Federal Emergency Management Agency mapping as subject toflooding;
(8) "New residence", a residence constructed on land which if locatedwithin a distressed community has either been vacant for at least two yearsor is or was occupied by a structure which has been condemned by the localentity in which the structure is located or which, if located outside of adistressed community but within a census block group as described insubdivision (6) or (10) of this section, either replaces a residence fortyyears of age or older demolished for purposes of constructing a replacementresidence, or which is constructed on vacant property which has beenclassified for not less than forty continuous years as residential orutility, commercial, railroad or other real property pursuant to article X,section 4(b) of the Missouri Constitution, as defined in section 137.016,RSMo; except that, no new residence shall be constructed in a flood plainor on property used for agricultural purposes. In a distressed community,the term "new residence" shall include condominiums, owner-occupied unitsor other units intended to be owner-occupied in multiple unit structures;
(9) "Project", new construction, rehabilitation or substantialrehabilitation of a residence that qualifies for a tax credit pursuant tosections 135.475 to 135.487;
(10) "Qualifying residence", a single-family residence, forty yearsof age or older, located in this state which is occupied or intended to beoccupied long-term by the owner or offered for sale at market rate forowner-occupancy and which is located in a metropolitan statistical area ornonmetropolitan statistical area within a United States census block groupwhich has a median household income of less than seventy percent of themedian household income for the metropolitan statistical area ornonmetropolitan area, respectively, or which is located within a distressedcommunity. A qualifying residence shall include a condominium or residencewithin a multiple residential structure or a structure containing multiplesingle-family residences which is located within a distressed community;
(11) "Substantial rehabilitation", rehabilitation the costs of whichexceed fifty percent of either the purchase price or the cost basis of thestructure immediately prior to rehabilitation; provided that, the structureis at least fifty years old notwithstanding any provision of sections135.475 to 135.487 to the contrary;
(12) "Tax liability", the tax due pursuant to chapter 143, 147 or148, RSMo, other than taxes withheld pursuant to sections 143.191 to143.265, RSMo;
(13) "Taxpayer", any person, partnership, corporation, trust, limitedliability company, or any charitable organization which is exempt fromfederal income tax and whose Missouri unrelated business taxable income, ifany, would be subject to the state income tax imposed under chapter 143,RSMo.
135.478. As used in sections 135.481 to 135.487, the following termsmean:
(1) "Department", the department of economic development;
(2) "Director", the director of the department of economicdevelopment;
(3) "Distressed community", as defined in section 135.530;
(4) "Eligible costs for a new residence", expenses incurred forproperty acquisition, development, site preparation other than demolition,surveys, architectural and engineering services and construction and allother necessary and incidental expenses incurred for constructing a newmarket rate residence, which is or will be owner-occupied, which is notreplacing a national register listed or local historic structure; exceptthat, costs paid for by the taxpayer with grants or forgivable loans, otherthan tax credits, provided pursuant to state or federal governmentalprograms are ineligible;
(5) "Eligible costs for rehabilitation", expenses incurred for therenovation or rehabilitation of an existing residence including sitepreparation, surveys, architectural and engineering services, construction,modification, expansion, remodeling, structural alteration, replacementsand alterations; except that, costs paid for by the taxpayer with grants orforgivable loans other than tax credits provided pursuant to state orfederal governmental programs are ineligible;
(6) "Eligible residence", a single-family residence forty years ofage or older, located in this state and not within a distressed communityas defined by section 135.530, which is occupied or intended to be oroccupied long-term by the owner or offered for sale at market rate forowner-occupancy and which is either located within a United States censusblock group which, if in a metropolitan statistical area, has a medianhousehold income of less than ninety percent, but greater than or equal toseventy percent of the median household income for the metropolitanstatistical area in which the census block group is located, or which, iflocated within a United States census block group in a nonmetropolitanarea, has a median household income of less than ninety percent, butgreater than or equal to seventy percent of the median household income forthe nonmetropolitan areas in the state;
(7) "Flood plain", any land or area susceptible to being inundated bywater from any source or located in a one hundred-year flood plain areadetermined by Federal Emergency Management Agency mapping as subject toflooding;
(8) "New residence", a residence constructed on land which if locatedwithin a distressed community has either been vacant for at least two yearsor is or was occupied by a structure which has been condemned by the localentity in which the structure is located or which, if located outside of adistressed community but within a census block group as described insubdivision (6) or (10) of this section, either replaces a residence fortyyears of age or older demolished for purposes of constructing a replacementresidence, or which is constructed on vacant property which has beenclassified for not less than forty continuous years as residential orutility, commercial, railroad or other real property pursuant to article X,section 4(b) of the Missouri Constitution, as defined in section 137.016,RSMo; except that, no new residence shall be constructed in a flood plainor on property used for agricultural purposes. In a distressed community,the term "new residence" shall include condominiums, owner-occupied unitsor other units intended to be owner-occupied in multiple unit structures;
(9) "Project", new construction, rehabilitation or substantialrehabilitation of a residence that qualifies for a tax credit pursuant tosections 135.475 to 135.487;
(10) "Qualifying residence", a single-family residence, forty yearsof age or older, located in this state which is occupied or intended to beoccupied long-term by the owner or offered for sale at market rate forowner-occupancy and which is located in a metropolitan statistical area ornonmetropolitan statistical area within a United States census block groupwhich has a median household income of less than seventy percent of themedian household income for the metropolitan statistical area ornonmetropolitan area, respectively, or which is located within a distressedcommunity. A qualifying residence shall include a condominium or residencewithin a multiple residential structure or a structure containing multiplesingle-family residences which is located within a distressed community;
(11) "Substantial rehabilitation", rehabilitation the costs of whichexceed fifty percent of either the purchase price or the cost basis of thestructure immediately prior to rehabilitation; provided that, the structureis at least fifty years old notwithstanding any provision of sections135.475 to 135.487 to the contrary;
(12) "Tax liability", the tax due pursuant to chapter 143, 147 or148, RSMo, other than taxes withheld pursuant to sections 143.191 to143.265, RSMo;
(13) "Taxpayer", any person, partnership, corporation, trust, limitedliability company, or any charitable organization which is exempt fromfederal income tax and whose Missouri unrelated business taxable income, ifany, would be subject to the state income tax imposed under chapter 143,RSMo.
135.478. As used in sections 135.481 to 135.487, the following termsmean:
(1) "Department", the department of economic development;
(2) "Director", the director of the department of economicdevelopment;
(3) "Distressed community", as defined in section 135.530;
(4) "Eligible costs for a new residence", expenses incurred forproperty acquisition, development, site preparation other than demolition,surveys, architectural and engineering services and construction and allother necessary and incidental expenses incurred for constructing a newmarket rate residence, which is or will be owner-occupied, which is notreplacing a national register listed or local historic structure; exceptthat, costs paid for by the taxpayer with grants or forgivable loans, otherthan tax credits, provided pursuant to state or federal governmentalprograms are ineligible;
(5) "Eligible costs for rehabilitation", expenses incurred for therenovation or rehabilitation of an existing residence including sitepreparation, surveys, architectural and engineering services, construction,modification, expansion, remodeling, structural alteration, replacementsand alterations; except that, costs paid for by the taxpayer with grants orforgivable loans other than tax credits provided pursuant to state orfederal governmental programs are ineligible;
(6) "Eligible residence", a single-family residence forty years ofage or older, located in this state and not within a distressed communityas defined by section 135.530, which is occupied or intended to be oroccupied long-term by the owner or offered for sale at market rate forowner-occupancy and which is either located within a United States censusblock group which, if in a metropolitan statistical area, has a medianhousehold income of less than ninety percent, but greater than or equal toseventy percent of the median household income for the metropolitanstatistical area in which the census block group is located, or which, iflocated within a United States census block group in a nonmetropolitanarea, has a median household income of less than ninety percent, butgreater than or equal to seventy percent of the median household income forthe nonmetropolitan areas in the state;
(7) "Flood plain", any land or area susceptible to being inundated bywater from any source or located in a one hundred-year flood plain areadetermined by Federal Emergency Management Agency mapping as subject toflooding;
(8) "New residence", a residence constructed on land which if locatedwithin a distressed community has either been vacant for at least two yearsor is or was occupied by a structure which has been condemned by the localentity in which the structure is located or which, if located outside of adistressed community but within a census block group as described insubdivision (6) or (10) of this section, either replaces a residence fortyyears of age or older demolished for purposes of constructing a replacementresidence, or which is constructed on vacant property which has beenclassified for not less than forty continuous years as residential orutility, commercial, railroad or other real property pursuant to article X,section 4(b) of the Missouri Constitution, as defined in section 137.016,RSMo; except that, no new residence shall be constructed in a flood plainor on property used for agricultural purposes. In a distressed community,the term "new residence" shall include condominiums, owner-occupied unitsor other units intended to be owner-occupied in multiple unit structures;
(9) "Project", new construction, rehabilitation or substantialrehabilitation of a residence that qualifies for a tax credit pursuant tosections 135.475 to 135.487;
(10) "Qualifying residence", a single-family residence, forty yearsof age or older, located in this state which is occupied or intended to beoccupied long-term by the owner or offered for sale at market rate forowner-occupancy and which is located in a metropolitan statistical area ornonmetropolitan statistical area within a United States census block groupwhich has a median household income of less than seventy percent of themedian household income for the metropolitan statistical area ornonmetropolitan area, respectively, or which is located within a distressedcommunity. A qualifying residence shall include a condominium or residencewithin a multiple residential structure or a structure containing multiplesingle-family residences which is located within a distressed community;
(11) "Substantial rehabilitation", rehabilitation the costs of whichexceed fifty percent of either the purchase price or the cost basis of thestructure immediately prior to rehabilitation; provided that, the structureis at least fifty years old notwithstanding any provision of sections135.475 to 135.487 to the contrary;
(12) "Tax liability", the tax due pursuant to chapter 143, 147 or148, RSMo, other than taxes withheld pursuant to sections 143.191 to143.265, RSMo;
(13) "Taxpayer", any person, partnership, corporation, trust, limitedliability company, or any charitable organization which is exempt fromfederal income tax and whose Missouri unrelated business taxable income, ifany, would be subject to the state income tax imposed under chapter 143,RSMo.
