Bill > SB143

This bill establishes a tax credit for grocery stores in a food desert. Specifically, it provides: - A tax credit of up to 50% of eligible expenses incurred by a taxpayer to establish or improve a full-service grocery store in a food desert, with a maximum credit of $2.5 million per taxpayer per year. - The total amount of credits that may be authorized is capped at $22 million per year, allocated on a first-come, first-served basis. - Taxpayers claiming the credit must complete construction within 5 years and operate the grocery store for at least 10 consecutive years, or face recapture of the credits. - The program is set to sunset after 4 years, but can be reauthorized by the legislature. The bill also defines key terms like "food desert," "full-service grocery store," and "eligible expenses" related to the establishment or improvement of grocery stores in underserved areas.

Budget and Finance, Government Affairs, Justice

https://www.senate.mo.gov/23info/BTS_Web/Bill.aspx?SessionType=R&BillID=44484