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Tue April 30, 2013
Mo. Senate passes tax breaks for developers
The Missouri Senate has again passed legislation curbing tax breaks for developers while creating new incentives for exporters and high-tech industries.
A bill approved 22-11 today eases off a Senate version of a tax credit overhaul passed earlier this year but still leaves a large gap to be resolved with House members.
The Senate version would cap tax credits for the renovation of historic buildings at $70 million annually — about half the current limit. The House version would make little change to the current cap.
The two chambers are similarly far apart on tax credit limits for the development of low-income housing.
Both versions would create new incentives for international exports at airports, computer data centers and investors in high-tech businesses.
Lawmakers have until May 17 to resolve differences.