The Missouri House has passed its version of a wide-ranging tax credit bill.
by Marshall Griffin (Jefferson City, Mo.)
It does not place expiration dates, or sunsets, on historic preservation and low income housing tax credits, as demanded by the Senate. Instead of expiring as the Senate wants, all tax credit programs would come up for review every four years and be subject to a renewal vote by the General Assembly. The measure is sponsored by House Budget Chair Ryan Silvey.
“What we want to do is provide this oversight function, but provide it in a way that requires an up-or-down vote, so you see what a majority of the chambers feel, not what one or two senators happen to think…just like it takes a constitutional majority to create a program, we think it should take a constitutional majority to kill one,” Silvey said.
Meanwhile, the Pro-tem of the Missouri Senate says he hasn’t had a chance to review the proposal. He expressed disappointment that sunsets for historic preservation and low income housing tax credits were not restored.