Establishes the "Revitalizing Missouri Downtowns and Main Streets Act" to provide tax credits for the rehabilitation of qualified converted buildings.
The bill establishes the "Revitalizing Missouri Downtowns and Main Streets Act" to provide tax credits for the rehabilitation of qualified converted buildings and upper floor housing. It defines terms such as "qualified conversion expenditures," "qualified converted building," and "upper floor housing." The Missouri Department of Economic Development will administer the program, issuing tax credits based on qualified conversion expenditures. The bill outlines the application process, approval criteria, and the sunset provisions for the program.
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