Mo. House backs new tax incentives for businesses

Mar 7, 2013

The Missouri House has endorsed the creation of several new tax breaks intended to lure high-tech businesses and foreign trade to the state.

House members gave initial approval Wednesday to a bill authorizing $60 million of tax credits for international exporters over the next eight years. They also gave initial approval to bills creating tax credits for investors in high-tech startup businesses and authorizing state and local sales tax breaks for computer data centers.

The votes came a week after the Senate passed a broader overhaul of Missouri's tax credits. The Senate measure would authorize those same new incentives while also reducing the tax credits available for renovating historic buildings and developing low-income housing.

House leaders plan to consider reductions to tax credits separately at a later time.