tax credit

Tax credit overhaul a no-go this session

Associated Press — Fri, 17 May 2013 20:09:13 +0000

Missouri senators have given up their attempt to pass an overhaul of the some of the state's tax credit programs for businesses and developers.

Supporters of the bill set it aside Friday after Republican Sen. Brad Lager, of Savannah, spoke against it for an hour in a filibuster that could have otherwise continued until the session's mandatory end at 6 p.m. The legislation would have created tax incentives for international air cargo exports, computer data centers and investors in startup technology companies.

Nixon vetoes bill that would eliminate tax break for elderly renters

Marshall Griffin — Wed, 15 May 2013 13:29:44 +0000

Governor Jay Nixon (D) has vetoed legislation that would eliminate a tax credit for elderly Missourians who rent their homes.

House and Senate Republicans voted to do away with the so-called "Senior Citizens Circuit Breaker" as a means of shoring up funding for the First Steps program, which aids children with developmental disabilities. In his veto letter, Nixon voiced disapproval of using money designated for seniors for other purposes, and stated that the bill contained no t

Mo. House endorses tax break for gun manufacturers

Associated Press — Wed, 01 May 2013 18:31:04 +0000

Firearms manufacturers looking to relocate to Missouri could collect a tax credit under a bill given first-round approval by the Missouri House.

The tax incentive endorsed Tuesday would expire in six years and be capped at $3 million annually. Gun and ammunition manufacturers would be able to claim the credit on withholding taxes from creating new jobs.

Mo. House backs tax credits overhaul

Associated Press — Thu, 18 Apr 2013 13:52:20 +0000

The Missouri House has backed a tax credit overhaul that is sharply different from a Senate version.
A bill given initial approval 120-31 Wednesday night would set much higher caps than the Senate on the amount of tax credits that can be approved annually for the renovation of historic buildings and development of low-income housing.

Unlike a bill passed previously by the Senate, the House version would combine several existing business incentives into a new program with greater flexibility for state economic development officials to award tax credits.

Mo. House panel endorses ending renter tax credit

Associated Press — Wed, 10 Apr 2013 20:44:50 +0000

The Missouri House Budget Committee has advanced legislation to abolish a tax credit of up to $750 a year for low-income seniors and disabled people who live in rental housing.

Mo. House measures would reduce corporate income taxes

Associated Press — Wed, 27 Mar 2013 21:14:56 +0000

Missouri House members have approved a trio of measures that would reduce taxes for some businesses.

Mo. Gen. Assembly Sends Benevolent Tax Credits Bill To Gov. Nixon

Marshall Griffin — Thu, 14 Mar 2013 13:25:52 +0000

Two sets of tax credits were passed by Missouri lawmakers Wednesday and sent to Governor Jay Nixon (D).

One measure would restore and renew several benevolent tax credit programs, including incentives for food pantries, widowed survivors of slain law enforcement officers, and crisis pregnancy centers. State Representative Anne Zerr (R, St.

Mo. Senate panel to hold hearing on tax credits

Associated Press — Mon, 04 Feb 2013 14:13:27 +0000

A Missouri Senate committee is set to review the state's numerous tax credit programs and their impact on the state budget.

The Senate Appropriations Committee scheduled a hearing Monday on tax credits before it takes up Gov. Jay Nixon's proposed budget for the 2014 fiscal year.

The 61 tax credit programs currently offered by Missouri cost the state nearly $630 million in the latest fiscal year. Last week, the Senate approved another one, with an estimated yearly cost of $3 million, to attract amateur sporting events to the state.

Mo. governor revives tax credit review panel

Associated Press — Thu, 30 Aug 2012 13:13:55 +0000

Gov. Jay Nixon is reviving a commission that recommended widespread changes to Missouri's tax credit programs.

Nixon says the growing cost of state tax credits is reason to reconvene the Missouri Tax Credit Review Commission on Sept. 12.

The panel released a report in late 2010 recommending that Missouri eliminate some of its 61 tax credit programs and reduce or change others.

But lawmakers have done little because of a disagreement among those who want to pare back Missouri's tax breaks and others who want to create new incentives for businesses.

Newscast for May 17, 2012

Scott Kanowsky — Thu, 17 May 2012 13:25:56 +0000

Regional news coverage from the KBIA News room, including: