© 2024 University of Missouri - KBIA
Play Live Radio
Next Up:
0:00
0:00
0:00 0:00
Available On Air Stations

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.

The Associated Press is one of the largest and most trusted sources of independent newsgathering, supplying a steady stream of news to its members, international subscribers and commercial customers. AP is neither privately owned nor government-funded; instead, it's a not-for-profit news cooperative owned by its American newspaper and broadcast members.
Related Content