Missouri Issues Emergency Rules for State HTC
The Missouri Department of Economic Development issued emergency rules concerning the state historic tax credit, effective March 30 through Dec. 31, 2019. There are 11 amendments in the emergency rules, including a provision to consider the amount of projected net fiscal benefit to the state and municipality when evaluating applications, a provision to consider the size and quality of the proposed project when evaluating applications and a description of how multiphase projects will be evaluated. The changes were required after the passage of S.B. 773 last year, which reduced the annual aggregate cap of credits from $140 million to $90 million.