Taxpayers incurring eligible costs entitled to tax credit, amount,qualifications.
135.481. 1. (1) Any taxpayer who incurs eligible costs for a newresidence located in a distressed community or within a census block group asdescribed in subdivision (10) of section 135.478, or for a multiple unitcondominium described in subdivision (2) of this subsection, shall receive atax credit equal to fifteen percent of such costs against his or her taxliability. The tax credit shall not exceed forty thousand dollars per newresidence in any ten-year period.
(2) For the purposes of this section, a "multiple unit condominium" isone that is intended to be owner occupied, which is constructed on propertysubject to an industrial development contract as defined in section 100.310,RSMo, and which lies within an area with a city zoning classification of urbanredevelopment district established after January 1, 2000, and before December31, 2001, and which is constructed in connection with the qualifiedrehabilitation of a structure more than ninety years old eligible for thehistoric structures rehabilitation tax credit described in sections 253.545 to253.559, RSMo, and is under way by January 1, 2000, and completed by January1, 2002.
2. Any taxpayer who incurs eligible costs for a new residence locatedwithin a census block as described in subdivision (6) of section 135.478 shallreceive a tax credit equal to fifteen percent of such costs against his or hertax liability. The tax credit shall not exceed twenty-five thousand dollarsper new residence in any ten-year period.
3. Any taxpayer who is not performing substantial rehabilitation and whoincurs eligible costs for rehabilitation of an eligible residence or aqualifying residence shall receive a tax credit equal to twenty-five percentof such costs against his or her tax liability. The minimum eligible costsfor rehabilitation of an eligible residence shall be ten thousand dollars.The minimum eligible costs for rehabilitation of a qualifying residence shallbe five thousand dollars. The tax credit shall not exceed twenty-fivethousand dollars in any ten-year period.
4. Any taxpayer who incurs eligible costs for substantial rehabilitationof a qualifying residence shall receive a tax credit equal to thirty-fivepercent of such costs against his or her tax liability. The minimum eligiblecosts for substantial rehabilitation of a qualifying residence shall be tenthousand dollars. The tax credit shall not exceed seventy thousand dollars inany ten-year period.
5. A taxpayer shall be eligible to receive tax credits for newconstruction or rehabilitation pursuant to only one subsection of thissection.
6. No tax credit shall be issued pursuant to this section for anystructure which is in violation of any municipal or county property,maintenance or zoning code.
7. No tax credit shall be issued pursuant to sections 135.475 to 135.487for the construction or rehabilitation of rental property.
Taxpayers incurring eligible costs entitled to tax credit, amount,qualifications.
135.481. 1. (1) Any taxpayer who incurs eligible costs for a newresidence located in a distressed community or within a census block group asdescribed in subdivision (10) of section 135.478, or for a multiple unitcondominium described in subdivision (2) of this subsection, shall receive atax credit equal to fifteen percent of such costs against his or her taxliability. The tax credit shall not exceed forty thousand dollars per newresidence in any ten-year period.
(2) For the purposes of this section, a "multiple unit condominium" isone that is intended to be owner occupied, which is constructed on propertysubject to an industrial development contract as defined in section 100.310,RSMo, and which lies within an area with a city zoning classification of urbanredevelopment district established after January 1, 2000, and before December31, 2001, and which is constructed in connection with the qualifiedrehabilitation of a structure more than ninety years old eligible for thehistoric structures rehabilitation tax credit described in sections 253.545 to253.559, RSMo, and is under way by January 1, 2000, and completed by January1, 2002.
2. Any taxpayer who incurs eligible costs for a new residence locatedwithin a census block as described in subdivision (6) of section 135.478 shallreceive a tax credit equal to fifteen percent of such costs against his or hertax liability. The tax credit shall not exceed twenty-five thousand dollarsper new residence in any ten-year period.
3. Any taxpayer who is not performing substantial rehabilitation and whoincurs eligible costs for rehabilitation of an eligible residence or aqualifying residence shall receive a tax credit equal to twenty-five percentof such costs against his or her tax liability. The minimum eligible costsfor rehabilitation of an eligible residence shall be ten thousand dollars.The minimum eligible costs for rehabilitation of a qualifying residence shallbe five thousand dollars. The tax credit shall not exceed twenty-fivethousand dollars in any ten-year period.
4. Any taxpayer who incurs eligible costs for substantial rehabilitationof a qualifying residence shall receive a tax credit equal to thirty-fivepercent of such costs against his or her tax liability. The minimum eligiblecosts for substantial rehabilitation of a qualifying residence shall be tenthousand dollars. The tax credit shall not exceed seventy thousand dollars inany ten-year period.
5. A taxpayer shall be eligible to receive tax credits for newconstruction or rehabilitation pursuant to only one subsection of thissection.
6. No tax credit shall be issued pursuant to this section for anystructure which is in violation of any municipal or county property,maintenance or zoning code.
7. No tax credit shall be issued pursuant to sections 135.475 to 135.487for the construction or rehabilitation of rental property.
Taxpayers incurring eligible costs entitled to tax credit, amount,qualifications.
135.481. 1. (1) Any taxpayer who incurs eligible costs for a newresidence located in a distressed community or within a census block group asdescribed in subdivision (10) of section 135.478, or for a multiple unitcondominium described in subdivision (2) of this subsection, shall receive atax credit equal to fifteen percent of such costs against his or her taxliability. The tax credit shall not exceed forty thousand dollars per newresidence in any ten-year period.
(2) For the purposes of this section, a "multiple unit condominium" isone that is intended to be owner occupied, which is constructed on propertysubject to an industrial development contract as defined in section 100.310,RSMo, and which lies within an area with a city zoning classification of urbanredevelopment district established after January 1, 2000, and before December31, 2001, and which is constructed in connection with the qualifiedrehabilitation of a structure more than ninety years old eligible for thehistoric structures rehabilitation tax credit described in sections 253.545 to253.559, RSMo, and is under way by January 1, 2000, and completed by January1, 2002.
2. Any taxpayer who incurs eligible costs for a new residence locatedwithin a census block as described in subdivision (6) of section 135.478 shallreceive a tax credit equal to fifteen percent of such costs against his or hertax liability. The tax credit shall not exceed twenty-five thousand dollarsper new residence in any ten-year period.
3. Any taxpayer who is not performing substantial rehabilitation and whoincurs eligible costs for rehabilitation of an eligible residence or aqualifying residence shall receive a tax credit equal to twenty-five percentof such costs against his or her tax liability. The minimum eligible costsfor rehabilitation of an eligible residence shall be ten thousand dollars.The minimum eligible costs for rehabilitation of a qualifying residence shallbe five thousand dollars. The tax credit shall not exceed twenty-fivethousand dollars in any ten-year period.
4. Any taxpayer who incurs eligible costs for substantial rehabilitationof a qualifying residence shall receive a tax credit equal to thirty-fivepercent of such costs against his or her tax liability. The minimum eligiblecosts for substantial rehabilitation of a qualifying residence shall be tenthousand dollars. The tax credit shall not exceed seventy thousand dollars inany ten-year period.
5. A taxpayer shall be eligible to receive tax credits for newconstruction or rehabilitation pursuant to only one subsection of thissection.
6. No tax credit shall be issued pursuant to this section for anystructure which is in violation of any municipal or county property,maintenance or zoning code.
7. No tax credit shall be issued pursuant to sections 135.475 to 135.487for the construction or rehabilitation of rental property.
