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FINANCING PROGRAMS Missouri Chapter 100 Bonds New Markets Tax Credit Missouri Chapter 100 Bonds Common Name: Chapter 100 Bonds Statutory Citation: §§ 100.010-100.200 RSMO Type of Benefits: Property tax abatement and sales tax exemption on construction materials. Both are negotiated terms. Description of Benefits: There are two primary reasons to issue industrial development bonds ("IDBs") under the Act. First, if the bonds are tax-exempt, it may be possible to issue the bonds at lower interest rates than those obtained through conventional financing. Second, even if the bonds are not tax-exempt, ad valorem taxes on bond-financed property may be abated so long as the bonds are outstanding; such tax abatement may result in a significant financial benefit to a company. Allowed Uses of Benefits: IDBs may be issued by any city, county, town or village (referred to as a"municipality") to issue bonds to finance the costs of warehouses, distribution facilities and industrial plants. In connection with such projects, the bond proceeds may be used to finance land, buildings, fixtures and machinery. Eligible Business Types: IDBs may be used to finance various industrial projects, including industrial, warehouses, distribution, research and development facilities, offices with interstate commerce, and agricultural processing industries. Links: New Markets Tax Credit Common Name: New Markets Tax Credit Statutory Citation: 26 USC§45D Type of Benefits: Tax Credits Description of Benefits: Tax credits equal to 5% of the taxpayer's equity investment in a "Qualified Community Development Entity" for each of the first 3 years and a 6% credit for each of the next 4 years. Allowed Uses of Benefits: Tax credits may be carried forward to any of the taxpayer's five subsequent taxable years. Eligible Business Types: Taxpayers that make investments into an approved fund established by a Community Development Entity. Eligibility Maps: Links: |
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