Program Administration

PURPOSE: This rule explains the administration of the program cap for the Amateur Sporting Contribution Tax Credit Program. (1) If the applicant has submitted all required documents in an application accurately and completely, the contributor associated with an application shall be issued tax credits, so long as there is cap space available in the fiscal year in which an application is to be approved. (2) The department will not exercise its authority to require an additional fee under section 620.1900, RSMo. (3) Complete and accurate applications shall be allocated cap space in the order received. If two (2) or more complete and accurate applications are received on the same day, a lottery will be used to determine the order in which applications will be approved. (4) If there is insufficient cap space available in a fiscal year for an otherwise valid application to be approved, the application will be placed on administrative hold. (A) Applications placed on administrative hold due to a lack of available cap space will not have their issuance fees processed when the applications are undergoing the approval process. Any issuance fee payment received by the department will be returned to the applicant. (B) If cap space becomes available for an application placed on administrative hold prior to the program sunset, the application will be denied unless— 1. The applicant submits a request for reactivation within thirty (30) days following the date on which the department first sent official notification; and 2. The applicant submits a new issuance fee. (C) Requests for reactivation will be processed in the order the underlying applications were received. If two (2) or more applications were received on the same day the requests for reactivation will be processed in the order established by a lottery. (5) If there is only sufficient cap space available in a fiscal year for a portion of a valid application to be processed, the applicant must submit a new issuance fee to cover the portion of the award request that has sufficient cap space available. The remaining cap space will be placed on administrative hold and will be processed as described in sections (1) through (4) of this rule. (6) All applications on administrative hold as of the date when the program sunsets will be denied. AUTHORITY: section 67.3005, RSMo Supp. 2013.* Emergency rule filed April 1, 2014, effective April 11, 2014, expired July 30, 2014. Original rule filed Feb. 7, 2014, effective July 30, 2014. *Original authority: 67.3005, RSMo 2013.