Authorizes a tax credit for certain railroad expenses
What changed between versions
Reorganized the definition of 'Eligible taxpayer' to separate Class II/III railroad companies from other eligible entities, and added a new category for port authorities and city-owned railroads not subject to state income tax.
Renumbered and restructured the definitions section from 9 items to 5 items, consolidating related terms and removing the definition for 'Eligible customer'.
Changed the definition of 'Qualified new rail infrastructure expenditures' to include servicing both new and existing customer locations, expanding the scope of eligible projects.
Updated the definition of 'Tax credit' to specify it applies only to taxes under chapter 143 or 148, removing chapter 147 from the list.
Added a new section requiring eligible taxpayers to submit a certificate of eligibility to the Missouri Department of Economic Development after completing expenditures, including specific documentation requirements.
Modified the tax credit calculation section to clarify that the credit amount equals the taxpayer's qualified amount, adding explicit language about applying against state tax liability.
