Section 620.635 – Title of law.

Effective – 08 Jul 1999 620.635. Title of law. — Sections 620.635 to 620.653 shall be known and may be cited as the “Missouri New Enterprise Creation Act”. ­­——– (L. 1999 S.B. 518 § 1) Effective 7-08-99

Section 620.638 – Definitions.

Effective – 28 Aug 2011, 2 histories 620.638. Definitions. — As used in sections 620.635 to 620.653, the following terms mean: (1) “Committed contributions”, the total amount of qualified contributions that are committed to a qualifying fund by contractual agreement; (2) “Corporation”, the Missouri technology corporation as established pursuant to section 348.251; (3) “Department”, the […]

Section 620.641 – Transfer of board duties to Missouri technology corporation.

Effective – 28 Aug 2011 620.641. Transfer of board duties to Missouri technology corporation. — The powers and duties of the Missouri seed capital investment board shall be transferred to the Missouri technology corporation effective August 28, 2011, and the Missouri seed capital investment board shall be dissolved. ­­——– (L. 1999 S.B. 518 § 3, […]

Section 620.644 – Development of Missouri seed capital and commercialization strategy, required contents — no tax credits issued until corporation approves strategy tax credit maximum — corporation to approve managers of qualified funds — rulemaking authority, procedure — reporting requirements of corporation — qualified fund to provide annual audited financial statements.

Effective – 28 Aug 2011 620.644. Development of Missouri seed capital and commercialization strategy, required contents — no tax credits issued until corporation approves strategy tax credit maximum — corporation to approve managers of qualified funds — rulemaking authority, procedure — reporting requirements of corporation — qualified fund to provide annual audited financial statements. — […]

Section 620.647 – Corporation to authorize contractual agreements for qualified economic development organizations — qualified funds to contract with at least one qualified economic development organization, required provisions — payment of distributions to qualified economic development organizations, use of payments, restrictions.

Effective – 28 Aug 2011 620.647. Corporation to authorize contractual agreements for qualified economic development organizations — qualified funds to contract with at least one qualified economic development organization, required provisions — payment of distributions to qualified economic development organizations, use of payments, restrictions. — 1. The corporation may authorize each qualified economic development organization […]

Section 620.650 – Purpose of qualified funds — tax credit for qualified contribution to qualified fund, amount, application, restrictions — tax on qualified funds uninvested capital, amount, distributions deemed made at end of tax year.

Effective – 28 Aug 2011 620.650. Purpose of qualified funds — tax credit for qualified contribution to qualified fund, amount, application, restrictions — tax on qualified funds uninvested capital, amount, distributions deemed made at end of tax year. — 1. The sole purpose of each qualified fund is to make investments. One hundred percent of […]

Section 620.653 – Corporation to approve one qualified fund — transfer of powers — corporation to approve professional fund manager for the qualified fund it approves.

Effective – 28 Aug 2011 620.653. Corporation to approve one qualified fund — transfer of powers — corporation to approve professional fund manager for the qualified fund it approves. — The provisions of sections 620.635 to 620.650 to the contrary notwithstanding, one qualified fund shall be approved by the corporation as soon as practicable after […]