Mo. Code Regs. tit. 4 § 85-5.050

Current through Register Vol. 49, No. 21, November 1, 2024.

Section 4 CSR 85-5.050 - Preliminary and Excess Tax Credits Application Evaluation-Level of Economic Distress

PURPOSE: This proposed amendment clarifies which applications require a level of economic distress evaluation and adds inclusion in an enhanced enterprise zone as a basis for receiving a higher score.

(1) For purposes of evaluating a preliminary application for authorization of tax credits and an excess tax credits application for issuance of tax credits pursuant to section 253.559.3(1)(c), RSMo, the department shall evaluate the following criteria:

(A) The project census tract's designation as a federal opportunity zone;

(B) The project census tract's designation as a qualified census tract;

(C) The project census tract's level of unemployment, as compared to the statewide level of unemployment;

(D) The project census tract's overall poverty rate, as determined pursuant to section 253.545(7), RSMo;

(E) The project census tract's inclusion in an enhanced enterprise zone established under sections 135.950 to 135.973, RSMo; and

(F) The project's vacancy or underutilization prior to rehabilitation.

4 CSR 85-5.050

Adopted by Missouri Register May 1, 2019/Volume 44, Number 9, effective 3/30/2019

Amended by Missouri Register October 1, 2019/Volume 44, Number 19, effective 11/30/2019

Amended by Missouri Register February 1, 2024/volume 49, Number 03, effective 3/31/2024.