Tagged: eric schmitt

Missouri senators have endorsed legislation creating new incentives for high-tech businesses and international exports while paring back existing tax credits.

The Missouri Senate spent several hours last night working on a wide-ranging tax credit bill, which they gave first-round approval to at around 3:30 this morning.

Senate Bill 120 would drastically cut incentives for Historic Preservation and low income housing.  Historic Preservation tax credits would be capped at $50 million a year, instead of the current $140 million, and low income Housing incentives would be capped at $55 million a year.  Senator Jamilah Nasheed (D, St. Louis) criticized the move.

Legislation that would tweak Missouri’s funding formula for public schools has stalled in the State Senate.  

Missouri businesses and businesses owners could start paying less in taxes under a bill moving through the state Senate.