Mo. Code Regs. Ann. tit. 4, § 85-5.080
Phased Projects
Effective Mar 30, 2024section 135.487, RSMo 2016, and sections 135.802 and 620.010, RSMo Supp. 2023.* Emergency rule filed March 20, 2019, effective March 30, 2019, expired Dec. 31, 2019. Original rule filed March 20, 2019, effective Nov. 30, 2019. Amended: Filed July 31, 2023, effective March 30, 2024. *Original authority: 135.487, RSMo 1999; 135.802, RSMo 2004, amended 2009, 2022; and 620.010, RSMo 1973, amended 1981, 1983, 1986, 1989, 1990, 1993, 1994, 1995, 1999, 2001, 2007, 2008, 2010, 2014, 2019Division of Business and Community Services
PURPOSE: This rule explains the circumstances under which a project can have multiple construction periods under the Historic Preservation Tax Credit program.
(1) To qualify as a phased project, an applicant must—
- (A) Apply for the federal historic preservation tax incentives program as a phased project;
- (B) Submit a single preliminary application to the department for the entire phased project; and
- (C) Submit a copy of the federal historic preservation tax incentives program phased project application with the preliminary application.
- (2) The preliminary application for a phased project must mirror the phasing listed in the federal historic preservation tax incentives program project application.
- (3) Each construction period (phase) of a phased project must be described such that expenditures are clearly identified as incurred during an individual phase.
- (4) All amendments to a preliminary application for a phased project must be identical to amendments to the applicant’s federal historic preservation tax incentives program phased project application, a copy of which must be submitted to the department. An amended preliminary application for a phased project shall be evaluated as an amendment to the project phase being modified.
- (5) Each construction period of a phased project must meet all program requirements on its own, without consideration of any other phase of the project.
- (6) The director shall have the authority to authorize tax credits for a phased project preliminary application using an aggregate estimate with flexibility among phases for projects that meet the requirements of 4 CSR 85-5.020(1)(I).
AUTHORITY: section 135.487, RSMo 2016, and sections 135.802 and 620.010, RSMo Supp. 2023.* Emergency rule filed March 20, 2019, effective March 30, 2019, expired Dec. 31, 2019. Original rule filed March 20, 2019, effective Nov. 30, 2019. Amended: Filed July 31, 2023, effective March 30, 2024. *Original authority: 135.487, RSMo 1999; 135.802, RSMo 2004, amended 2009, 2022; and 620.010, RSMo 1973, amended 1981, 1983, 1986, 1989, 1990, 1993, 1994, 1995, 1999, 2001, 2007, 2008, 2010, 2014, 2019.