Bill > SB565

This bill establishes the Workforce Housing Tax Incentives Program, a comprehensive initiative designed to encourage housing development in Missouri by offering tax incentives to housing businesses. The program provides tax credits and sales tax refunds for housing projects that meet specific criteria, such as rehabilitating properties in brownfield or grayfield sites, developing housing in small cities or disaster-impacted areas, and creating new dwelling units. Eligible projects must include a minimum number of housing units, meet specific cost limitations, and satisfy housing quality standards. Housing businesses can receive tax credits ranging from 10-20% of their qualifying new investment, depending on the project's location, with a maximum incentive of $1 million per project. The program includes provisions for competitive application processes, project completion deadlines, and compliance requirements. Notably, the program has a sunset provision, automatically expiring six years after its effective date unless reauthorized by the state legislature, and aims to stimulate housing development in both urban and rural areas of Missouri by providing financial incentives for housing businesses.

Labor and Employment

https://www.senate.mo.gov/25info/BTS_Web/Bill.aspx?SessionType=R&BillID=2237226