Effective - 28 Aug 2007
320.093. Income tax credit for purchase of a dry fire hydrant or provision of water storage for dry hydrants, requirements, limitations and expiration date. — 1. Any person, firm or corporation who purchases a dry fire hydrant, as defined in section 320.273, or provides an acceptable means of water storage for such dry fire hydrant including a pond, tank or other storage facility with the primary purpose of fire protection within the state of Missouri, shall be eligible for a credit on income taxes otherwise due pursuant to chapter 143, except sections 143.191 to 143.261, as an incentive to implement safe and efficient fire protection controls. The tax credit, not to exceed five thousand dollars, shall be equal to fifty percent of the cost in actual expenditure for any new water storage construction, equipment, development and installation of the dry hydrant, including pipes, valves, hydrants and labor for each such installation of a dry hydrant or new water storage facility. The amount of the tax credit claimed for in-kind contributions shall not exceed twenty-five percent of the total amount of the contribution for which the tax credit is claimed.
2. Any amount of credit which exceeds the tax due shall not be refunded but may be carried over to any subsequent taxable year, not to exceed seven years. The person, firm or corporation may elect to assign to a third party the approved tax credit. The certificate of assignment and other appropriate forms shall be filed with the Missouri department of revenue and the department of economic development.
3. The person, firm or corporation shall make application for the credit to the department of economic development after receiving approval of the state fire marshal. The fire marshal shall establish by rule promulgated pursuant to chapter 536 the requirements to be met based on the National Resources Conservation Service's Dry Hydrant Standard. The state fire marshal or designated local representative shall review and authorize the construction and installation of any dry fire hydrant site. Only approved dry fire hydrant sites shall be eligible for tax credits as indicated in this section. Under no circumstance shall such authority deny any entity the ability to provide a dry fire hydrant site when tax credits are not requested.
4. The department of public safety shall certify to the department of revenue that the dry hydrant system meets the requirements to obtain a tax credit as specified in subsection 5 of this section.
5. In order to qualify for a tax credit under this section, a dry hydrant or new water storage facility shall meet the following minimum requirements:
(1) Each body of water or water storage structure shall be able to provide two hundred fifty gallons per minute for a continuous two-hour period during a fifty-year drought or freeze at a vertical lift of eighteen feet;
(2) Each dry hydrant shall be located within twenty-five feet of an all-weather roadway and shall be accessible to fire protection equipment;
(3) Dry hydrants shall be located a reasonable distance from other dry or pressurized hydrants; and
(4) The site shall provide a measurable economic improvement potential for rural development.
6. New credits shall not be awarded under this section after August 28, 2010. The total amount of all tax credits allowed pursuant to this section is five hundred thousand dollars in any one fiscal year as approved by the director of the department of economic development.
7. Any rule or portion of a rule, as that term is defined in section 536.010, that is created under the authority delegated in this section shall become effective only if it complies with and is subject to all of the provisions of chapter 536 and, if applicable, section 536.028. This section and chapter 536 are nonseverable and if any of the powers vested with the general assembly pursuant to chapter 536 to review, to delay the effective date or to disapprove and annul a rule are subsequently held unconstitutional, then the grant of rulemaking authority and any rule proposed or adopted after August 28, 2007, shall be invalid and void.
--------
(L. 1999 H.B. 701, A.L. 2007 S.B. 30)
CROSS REFERENCE:
Tax Credit Accountability Act of 2004, additional requirements, 135.800 to 135.830
Structure Missouri Revised Statutes
Title XXI - Public Safety and Morals
Section 320.010 - Proprietors of public buildings required to erect fire escapes — how constructed.
Section 320.020 - How erected and enclosed.
Section 320.030 - Number to each building.
Section 320.040 - Buildings to be equipped with fire escapes.
Section 320.060 - Duty of officers.
Section 320.070 - Doors to certain buildings to be hung, how.
Section 320.081 - Fire insurance company records to be furnished law enforcement officials, when.
Section 320.088 - Personal protective equipment, standards for purchasing.
Section 320.089 - Labeling requirement for personal protective equipment, violation, penalty.
Section 320.092 - Creates annual reporting requirements for certain tax credits.
Section 320.097 - Residency requirements prohibited, when.
Section 320.106 - Definitions.
Section 320.121 - Powers of cities and certain counties to regulate or prohibit fireworks.
Section 320.122 - Supremacy clause — regulation of fireworks (St. Louis County).
Section 320.136 - Ground salutes, special type, prohibited.
Section 320.141 - Permissible items of consumer fireworks, how sold, when.
Section 320.146 - Display and storage of fireworks, restrictions on.
Section 320.156 - Items and activities not subject to provisions of sections 320.106 to 320.161.
Section 320.161 - Penalty provisions.
Section 320.200 - Definitions.
Section 320.205 - Fire marshal, appointment, qualifications.
Section 320.210 - Employees, how appointed, qualifications.
Section 320.215 - Reimbursement of employees, expenses and equipment, state to furnish.
Section 320.220 - Special deputy, who eligible.
Section 320.225 - Investigator to have same powers as fire marshal, when.
Section 320.235 - Reports and records required — open to public, exceptions.
Section 320.240 - Property may be entered for investigation, when.
Section 320.250 - Powers of political subdivisions not affected.
Section 320.255 - Salaries, expenses and costs, how paid.
Section 320.260 - Office space to be provided.
Section 320.265 - Appeals, how taken.
Section 320.300 - Volunteer fire protection association, definition.
Section 320.307 - Nonpayment of claim, association has cause of action, amount.
Section 320.310 - Boundaries, filing with county — sole providers, when.
Section 320.330 - Citation of law.
Section 320.333 - Definitions.
Section 320.339 - Wrongful termination, cause of action permitted.
Section 320.350 - Title of law — definitions.
Section 320.362 - Violations, penalties.
Section 320.365 - Rulemaking authority — department of revenue may inspect cigarettes for markings.
Section 320.368 - Enforcement procedures — authorization to examine records.
Section 320.371 - Fund created, use of moneys.