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Thu April 18, 2013
Mo. House backs tax credits overhaul
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.
The House plan would extend an expiring tax credit for developers who amass large swaths of land — another provision left out of the Senate plan.
House Economic Development Committee Chairwoman Anne Zerr describes the bill as a starting point for negotiations.