Mo. Rev. Stat. § 253.545

Current with changes from the 2023 Legislative Session

Section 253.545 - Definitions

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

(1)"Certified historic structure", a property located in Missouri and listed individually on the National Register of Historic Places;

(2)"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;

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

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

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

(6)"Projected net fiscal benefit", the total net fiscal benefit to the state or municipality, less any state or local benefits offered to the taxpayer for a project, as determined by the department of economic development;

(7)"Qualified census tract", a census tract 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 of economic development 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;

(8)"Structure in a certified historic district", a structure located in Missouri which is certified by the department of natural resources as contributing to the historic significance of a certified historic district listed on the National Register of Historic Places, or a local district that has been certified by the United States Department of the Interior;

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

§ 253.545, RSMo

Amended by 2018 Mo. Laws, SB 773,s A, eff. 8/28/2018.

Amended by 2018 Mo. Laws, SB 590,s A, eff. 8/28/2018.

L. 1997 2d Ex. Sess. S.B. 1, A.L. 2009H.B. 191
Effective 6/4/2009