Effective - 28 Aug 2018, 2 histories
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.
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(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)