Bill > HB326

This bill modifies several tax credit programs in Missouri, making changes to the "Champion for Children" tax credit and the "Donated Food" tax credit. The primary modifications relate to how tax credit award denials are handled and the financial parameters of these programs. For the sporting events tax credit program, the bill increases the maximum annual tax credit from three to six million dollars, raises the per-ticket and per-participant credit amounts, and allows for more flexible refund processes. The Champion for Children tax credit program sees changes to its sunset date, extending it to August 28, 2025, with expiration on December 31, 2032. The Donated Food tax credit program also receives a similar extension, with provisions for handling credit denials when the cumulative maximum credits for a fiscal year have been reached. Additionally, the bill introduces provisions that prevent taxpayers from being penalized with interest or penalties if their tax credit is partially or fully denied due to reaching the fiscal year's maximum allocation, provided they pay the balance within sixty days. The changes aim to provide more predictability and flexibility for taxpayers and organizations participating in these tax credit programs while maintaining fiscal responsibility.

Budget and Finance, Government Affairs, Labor and Employment

https://house.mo.gov/Bill.aspx?bill=HB326&year=2025&code=R