Mo. Rev. Stat. § 253.545 — MO Code / Chapter 253 / Section 253.545
253.545 Definitions.
Status: in_force

253.545. Definitions. — As used in sections 253.544 to 253.559 , the following terms mean, unless the context requires otherwise:

(1) "Applicable percentage" :

(a) For the rehabilitation of a property that receives or intends to receive a state tax credit under sections 135.350 to 135.363 , twenty-five percent;

(b) For the rehabilitation of a property located in a qualifying county approved for a state tax credit and that is not a property that receives or intends to receive a state tax credit under sections 135.350 to 135.363 , thirty-five percent; or

(c) For the rehabilitation of a property not located in a qualifying county approved for a tax credit, twenty-five percent;

(2) "Certified historic structure" , a building located in Missouri and either:

(a) Listed individually on the National Register of Historic Places; or

(b) Located in a National Register-listed historic district or a local district that has been certified by the United States Department of the Interior and certified by the Secretary of the Interior or the state historic preservation office as a contributing resource in the district;

(3) "Deed in lieu of foreclosure or voluntary conveyance" , a transfer of title from a borrower to the lender to satisfy the mortgage debt and avoid foreclosure;

(4) "Department" , the department of economic development;

(5) "Eligible property" , property located in Missouri and offered or used for residential or business purposes;

(6) "Eligible recipient" , an individual taxpayer or nonprofit entity incurring expenses in connection with an eligible property;

(7) "Historic theater" , any historic theater that is a certified historic structure or is located in a historic district;

(8) "Historic school" , any historic school that is a certified historic structure or that is located in a historic district;

(9) "Leasehold interest" , a lease in an eligible property for a term of not less than thirty years;

(10) "Principal" , a managing partner, general partner, or president of a taxpayer;

(11) "Qualified census tract" , a census tract or census block with a poverty rate of twenty percent or higher as determined by a map and listing of census tracts which shall be published by the department and updated on a five-year cycle, and which map and listing shall depict census tracts with twenty percent poverty rate or higher, grouped by census tracts with twenty percent to forty-two percent poverty, and forty-two percent to eighty-one percent poverty as determined by the most current five-year figures published by the American Community Survey conducted by the United States Census Bureau;

(12) "Qualified rehabilitation standards" , the Secretary of the Interior's Standards for Rehabilitation, codified under 36 CFR 67;

(13) "Qualifying county" , any county or portion thereof in this state that is not:

(a) Within a city with more than four hundred thousand inhabitants and located in more than one county; or

(b) A city not within a county;

(14) "Taxpayer" , any person, firm, partnership, trust, estate, limited liability company, or corporation.

(L. 1997 2d Ex. Sess. S.B. 1, A.L. 2009 H.B. 191, A.L. 2018 S.B. 590 merged with S.B. 773, A.L. 2024 H.B. 2062)