Preliminary and Excess Tax Credits Application Evaluation—Level of Economic Distress

PURPOSE: This rule clarifies the application considerations set forth in section 253.559.3(1)(c), RSMo. (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. AUTHORITY: section 135.487, RSMo 2016, and sections 135.802 and 620.010, RSMo Supp. 2023.* Emergency rule filed March 20, 2019, effective March 30, 2019, expired Dec. 31, 2019. Original rule filed March 20, 2019, effective Nov. 30, 2019. Amended: Filed July 31, 2023, effective March 30, 2024. *Original authority: 135.487, RSMo 1999; 135.802, RSMo 2004, amended 2009, 2022; and 620.010, RSMo 1973, amended 1981, 1983, 1986, 1989, 1990, 1993, 1994, 1995, 1999, 2001, 2007, 2008, 2010, 2014, 2019.