Tax credit for contributions to pregnancy resource centers,definitions--amount--limitations--determination of qualifyingcenters--cumulative amount of credits--apportionment procedure,reapportionment of credits--identity of contributors provided todirector, confidentiality--transfer of credits--sunset provision.
135.630. 1. As used in this section, the following terms mean:
(1) "Contribution", a donation of cash, stock, bonds, or othermarketable securities, or real property;
(2) "Director", the director of the department of social services;
(3) "Pregnancy resource center", a nonresidential facility located inthis state:
(a) Established and operating primarily to provide assistance towomen with crisis pregnancies or unplanned pregnancies by offeringpregnancy testing, counseling, emotional and material support, and othersimilar services to encourage and assist such women in carrying theirpregnancies to term; and
(b) Where childbirths are not performed; and
(c) Which does not perform, induce, or refer for abortions and whichdoes not hold itself out as performing, inducing, or referring forabortions; and
(d) Which provides direct client services at the facility, as opposedto merely providing counseling or referral services by telephone; and
(e) Which provides its services at no cost to its clients; and
(f) When providing medical services, such medical services must beperformed in accordance with Missouri statute; and
(g) Which is exempt from income taxation pursuant to the InternalRevenue Code of 1986, as amended;
(4) "State tax liability", in the case of a business taxpayer, anyliability incurred by such taxpayer pursuant to the provisions of chapters143, 147, 148, and 153, RSMo, excluding sections 143.191 to 143.265, RSMo,and related provisions, and in the case of an individual taxpayer, anyliability incurred by such taxpayer pursuant to the provisions of chapter143, RSMo, excluding sections 143.191 to 143.265, RSMo, and relatedprovisions;
(5) "Taxpayer", a person, firm, a partner in a firm, corporation, ora shareholder in an S corporation doing business in the state of Missouriand subject to the state income tax imposed by the provisions of chapter143, RSMo, or a corporation subject to the annual corporation franchise taximposed by the provisions of chapter 147, RSMo, or an insurance companypaying an annual tax on its gross premium receipts in this state, or otherfinancial institution paying taxes to the state of Missouri or anypolitical subdivision of this state pursuant to the provisions of chapter148, RSMo, or an express company which pays an annual tax on its grossreceipts in this state pursuant to chapter 153, RSMo, or an individualsubject to the state income tax imposed by the provisions of chapter 143,RSMo, or 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.
2. For all tax years beginning on or after January 1, 2007, ataxpayer shall be allowed to claim a tax credit against the taxpayer'sstate tax liability in an amount equal to fifty percent of the amount suchtaxpayer contributed to a pregnancy resource center.
3. The amount of the tax credit claimed shall not exceed the amountof the taxpayer's state tax liability for the taxable year for which thecredit is claimed, and such taxpayer shall not be allowed to claim a taxcredit in excess of fifty thousand dollars per taxable year. However, anytax credit that cannot be claimed in the taxable year the contribution wasmade may be carried over to the next four succeeding taxable years untilthe full credit has been claimed.
4. Except for any excess credit which is carried over pursuant tosubsection 3 of this section, a taxpayer shall not be allowed to claim atax credit unless the total amount of such taxpayer's contribution orcontributions to a pregnancy resource center or centers in such taxpayer'staxable year has a value of at least one hundred dollars.
5. The director shall determine, at least annually, which facilitiesin this state may be classified as pregnancy resource centers. Thedirector may require of a facility seeking to be classified as a pregnancyresource center whatever information which is reasonably necessary to makesuch a determination. The director shall classify a facility as apregnancy resource center if such facility meets the definition set forthin subsection 1 of this section.
6. The director shall establish a procedure by which a taxpayer candetermine if a facility has been classified as a pregnancy resource center.Pregnancy resource centers shall be permitted to decline a contributionfrom a taxpayer. The cumulative amount of tax credits which may be claimedby all the taxpayers contributing to pregnancy resource centers in any onefiscal year shall not exceed two million dollars. Tax credits shall beissued in the order contributions are received.
7. The director shall establish a procedure by which, from thebeginning of the fiscal year until some point in time later in the fiscalyear to be determined by the director, the cumulative amount of tax creditsare equally apportioned among all facilities classified as pregnancyresource centers. If a pregnancy resource center fails to use all, or somepercentage to be determined by the director, of its apportioned tax creditsduring this predetermined period of time, the director may reapportionthese unused tax credits to those pregnancy resource centers that have usedall, or some percentage to be determined by the director, of theirapportioned tax credits during this predetermined period of time. Thedirector may establish more than one period of time and reapportion morethan once during each fiscal year. To the maximum extent possible, thedirector shall establish the procedure described in this subsection in sucha manner as to ensure that taxpayers can claim all the tax credits possibleup to the cumulative amount of tax credits available for the fiscal year.
8. Each pregnancy resource center shall provide information to thedirector concerning the identity of each taxpayer making a contribution tothe pregnancy resource center who is claiming a tax credit pursuant to thissection and the amount of the contribution. The director shall provide theinformation to the director of revenue. The director shall be subject tothe confidentiality and penalty provisions of section 32.057, RSMo,relating to the disclosure of tax information.
9. Notwithstanding any other law to the contrary, any tax creditsgranted under this section may be assigned, transferred, sold, or otherwiseconveyed without consent or approval. Such taxpayer, hereinafter theassignor for purposes of this section, may sell, assign, exchange, orotherwise transfer earned tax credits:
(1) For no less than seventy-five percent of the par value of suchcredits; and
(2) In an amount not to exceed one hundred percent of annual earnedcredits.
10. Pursuant to section 23.253, RSMo, of the Missouri sunset act:
(1) Any new program authorized under this section shall automaticallysunset six years after August 28, 2006, unless reauthorized by an act ofthe 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 a program authorizedunder this section is sunset.
Tax credit for contributions to pregnancy resource centers,definitions--amount--limitations--determination of qualifyingcenters--cumulative amount of credits--apportionment procedure,reapportionment of credits--identity of contributors provided todirector, confidentiality--transfer of credits--sunset provision.
135.630. 1. As used in this section, the following terms mean:
(1) "Contribution", a donation of cash, stock, bonds, or othermarketable securities, or real property;
(2) "Director", the director of the department of social services;
(3) "Pregnancy resource center", a nonresidential facility located inthis state:
(a) Established and operating primarily to provide assistance towomen with crisis pregnancies or unplanned pregnancies by offeringpregnancy testing, counseling, emotional and material support, and othersimilar services to encourage and assist such women in carrying theirpregnancies to term; and
(b) Where childbirths are not performed; and
(c) Which does not perform, induce, or refer for abortions and whichdoes not hold itself out as performing, inducing, or referring forabortions; and
(d) Which provides direct client services at the facility, as opposedto merely providing counseling or referral services by telephone; and
(e) Which provides its services at no cost to its clients; and
(f) When providing medical services, such medical services must beperformed in accordance with Missouri statute; and
(g) Which is exempt from income taxation pursuant to the InternalRevenue Code of 1986, as amended;
(4) "State tax liability", in the case of a business taxpayer, anyliability incurred by such taxpayer pursuant to the provisions of chapters143, 147, 148, and 153, RSMo, excluding sections 143.191 to 143.265, RSMo,and related provisions, and in the case of an individual taxpayer, anyliability incurred by such taxpayer pursuant to the provisions of chapter143, RSMo, excluding sections 143.191 to 143.265, RSMo, and relatedprovisions;
(5) "Taxpayer", a person, firm, a partner in a firm, corporation, ora shareholder in an S corporation doing business in the state of Missouriand subject to the state income tax imposed by the provisions of chapter143, RSMo, or a corporation subject to the annual corporation franchise taximposed by the provisions of chapter 147, RSMo, or an insurance companypaying an annual tax on its gross premium receipts in this state, or otherfinancial institution paying taxes to the state of Missouri or anypolitical subdivision of this state pursuant to the provisions of chapter148, RSMo, or an express company which pays an annual tax on its grossreceipts in this state pursuant to chapter 153, RSMo, or an individualsubject to the state income tax imposed by the provisions of chapter 143,RSMo, or 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.
2. For all tax years beginning on or after January 1, 2007, ataxpayer shall be allowed to claim a tax credit against the taxpayer'sstate tax liability in an amount equal to fifty percent of the amount suchtaxpayer contributed to a pregnancy resource center.
3. The amount of the tax credit claimed shall not exceed the amountof the taxpayer's state tax liability for the taxable year for which thecredit is claimed, and such taxpayer shall not be allowed to claim a taxcredit in excess of fifty thousand dollars per taxable year. However, anytax credit that cannot be claimed in the taxable year the contribution wasmade may be carried over to the next four succeeding taxable years untilthe full credit has been claimed.
4. Except for any excess credit which is carried over pursuant tosubsection 3 of this section, a taxpayer shall not be allowed to claim atax credit unless the total amount of such taxpayer's contribution orcontributions to a pregnancy resource center or centers in such taxpayer'staxable year has a value of at least one hundred dollars.
5. The director shall determine, at least annually, which facilitiesin this state may be classified as pregnancy resource centers. Thedirector may require of a facility seeking to be classified as a pregnancyresource center whatever information which is reasonably necessary to makesuch a determination. The director shall classify a facility as apregnancy resource center if such facility meets the definition set forthin subsection 1 of this section.
6. The director shall establish a procedure by which a taxpayer candetermine if a facility has been classified as a pregnancy resource center.Pregnancy resource centers shall be permitted to decline a contributionfrom a taxpayer. The cumulative amount of tax credits which may be claimedby all the taxpayers contributing to pregnancy resource centers in any onefiscal year shall not exceed two million dollars. Tax credits shall beissued in the order contributions are received.
7. The director shall establish a procedure by which, from thebeginning of the fiscal year until some point in time later in the fiscalyear to be determined by the director, the cumulative amount of tax creditsare equally apportioned among all facilities classified as pregnancyresource centers. If a pregnancy resource center fails to use all, or somepercentage to be determined by the director, of its apportioned tax creditsduring this predetermined period of time, the director may reapportionthese unused tax credits to those pregnancy resource centers that have usedall, or some percentage to be determined by the director, of theirapportioned tax credits during this predetermined period of time. Thedirector may establish more than one period of time and reapportion morethan once during each fiscal year. To the maximum extent possible, thedirector shall establish the procedure described in this subsection in sucha manner as to ensure that taxpayers can claim all the tax credits possibleup to the cumulative amount of tax credits available for the fiscal year.
8. Each pregnancy resource center shall provide information to thedirector concerning the identity of each taxpayer making a contribution tothe pregnancy resource center who is claiming a tax credit pursuant to thissection and the amount of the contribution. The director shall provide theinformation to the director of revenue. The director shall be subject tothe confidentiality and penalty provisions of section 32.057, RSMo,relating to the disclosure of tax information.
9. Notwithstanding any other law to the contrary, any tax creditsgranted under this section may be assigned, transferred, sold, or otherwiseconveyed without consent or approval. Such taxpayer, hereinafter theassignor for purposes of this section, may sell, assign, exchange, orotherwise transfer earned tax credits:
(1) For no less than seventy-five percent of the par value of suchcredits; and
(2) In an amount not to exceed one hundred percent of annual earnedcredits.
10. Pursuant to section 23.253, RSMo, of the Missouri sunset act:
(1) Any new program authorized under this section shall automaticallysunset six years after August 28, 2006, unless reauthorized by an act ofthe 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 a program authorizedunder this section is sunset.
Tax credit for contributions to pregnancy resource centers,definitions--amount--limitations--determination of qualifyingcenters--cumulative amount of credits--apportionment procedure,reapportionment of credits--identity of contributors provided todirector, confidentiality--transfer of credits--sunset provision.
135.630. 1. As used in this section, the following terms mean:
(1) "Contribution", a donation of cash, stock, bonds, or othermarketable securities, or real property;
(2) "Director", the director of the department of social services;
(3) "Pregnancy resource center", a nonresidential facility located inthis state:
(a) Established and operating primarily to provide assistance towomen with crisis pregnancies or unplanned pregnancies by offeringpregnancy testing, counseling, emotional and material support, and othersimilar services to encourage and assist such women in carrying theirpregnancies to term; and
(b) Where childbirths are not performed; and
(c) Which does not perform, induce, or refer for abortions and whichdoes not hold itself out as performing, inducing, or referring forabortions; and
(d) Which provides direct client services at the facility, as opposedto merely providing counseling or referral services by telephone; and
(e) Which provides its services at no cost to its clients; and
(f) When providing medical services, such medical services must beperformed in accordance with Missouri statute; and
(g) Which is exempt from income taxation pursuant to the InternalRevenue Code of 1986, as amended;
(4) "State tax liability", in the case of a business taxpayer, anyliability incurred by such taxpayer pursuant to the provisions of chapters143, 147, 148, and 153, RSMo, excluding sections 143.191 to 143.265, RSMo,and related provisions, and in the case of an individual taxpayer, anyliability incurred by such taxpayer pursuant to the provisions of chapter143, RSMo, excluding sections 143.191 to 143.265, RSMo, and relatedprovisions;
(5) "Taxpayer", a person, firm, a partner in a firm, corporation, ora shareholder in an S corporation doing business in the state of Missouriand subject to the state income tax imposed by the provisions of chapter143, RSMo, or a corporation subject to the annual corporation franchise taximposed by the provisions of chapter 147, RSMo, or an insurance companypaying an annual tax on its gross premium receipts in this state, or otherfinancial institution paying taxes to the state of Missouri or anypolitical subdivision of this state pursuant to the provisions of chapter148, RSMo, or an express company which pays an annual tax on its grossreceipts in this state pursuant to chapter 153, RSMo, or an individualsubject to the state income tax imposed by the provisions of chapter 143,RSMo, or 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.
2. For all tax years beginning on or after January 1, 2007, ataxpayer shall be allowed to claim a tax credit against the taxpayer'sstate tax liability in an amount equal to fifty percent of the amount suchtaxpayer contributed to a pregnancy resource center.
3. The amount of the tax credit claimed shall not exceed the amountof the taxpayer's state tax liability for the taxable year for which thecredit is claimed, and such taxpayer shall not be allowed to claim a taxcredit in excess of fifty thousand dollars per taxable year. However, anytax credit that cannot be claimed in the taxable year the contribution wasmade may be carried over to the next four succeeding taxable years untilthe full credit has been claimed.
4. Except for any excess credit which is carried over pursuant tosubsection 3 of this section, a taxpayer shall not be allowed to claim atax credit unless the total amount of such taxpayer's contribution orcontributions to a pregnancy resource center or centers in such taxpayer'staxable year has a value of at least one hundred dollars.
5. The director shall determine, at least annually, which facilitiesin this state may be classified as pregnancy resource centers. Thedirector may require of a facility seeking to be classified as a pregnancyresource center whatever information which is reasonably necessary to makesuch a determination. The director shall classify a facility as apregnancy resource center if such facility meets the definition set forthin subsection 1 of this section.
6. The director shall establish a procedure by which a taxpayer candetermine if a facility has been classified as a pregnancy resource center.Pregnancy resource centers shall be permitted to decline a contributionfrom a taxpayer. The cumulative amount of tax credits which may be claimedby all the taxpayers contributing to pregnancy resource centers in any onefiscal year shall not exceed two million dollars. Tax credits shall beissued in the order contributions are received.
7. The director shall establish a procedure by which, from thebeginning of the fiscal year until some point in time later in the fiscalyear to be determined by the director, the cumulative amount of tax creditsare equally apportioned among all facilities classified as pregnancyresource centers. If a pregnancy resource center fails to use all, or somepercentage to be determined by the director, of its apportioned tax creditsduring this predetermined period of time, the director may reapportionthese unused tax credits to those pregnancy resource centers that have usedall, or some percentage to be determined by the director, of theirapportioned tax credits during this predetermined period of time. Thedirector may establish more than one period of time and reapportion morethan once during each fiscal year. To the maximum extent possible, thedirector shall establish the procedure described in this subsection in sucha manner as to ensure that taxpayers can claim all the tax credits possibleup to the cumulative amount of tax credits available for the fiscal year.
8. Each pregnancy resource center shall provide information to thedirector concerning the identity of each taxpayer making a contribution tothe pregnancy resource center who is claiming a tax credit pursuant to thissection and the amount of the contribution. The director shall provide theinformation to the director of revenue. The director shall be subject tothe confidentiality and penalty provisions of section 32.057, RSMo,relating to the disclosure of tax information.
9. Notwithstanding any other law to the contrary, any tax creditsgranted under this section may be assigned, transferred, sold, or otherwiseconveyed without consent or approval. Such taxpayer, hereinafter theassignor for purposes of this section, may sell, assign, exchange, orotherwise transfer earned tax credits:
(1) For no less than seventy-five percent of the par value of suchcredits; and
(2) In an amount not to exceed one hundred percent of annual earnedcredits.
10. Pursuant to section 23.253, RSMo, of the Missouri sunset act:
(1) Any new program authorized under this section shall automaticallysunset six years after August 28, 2006, unless reauthorized by an act ofthe 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 a program authorizedunder this section is sunset.
