Missouri senators have given up their attempt to pass an overhaul of the some of the state's tax credit programs for businesses and developers.
Supporters of the bill set it aside Friday after Republican Sen. Brad Lager, of Savannah, spoke against it for an hour in a filibuster that could have otherwise continued until the session's mandatory end at 6 p.m. The legislation would have created tax incentives for international air cargo exports, computer data centers and investors in startup technology companies.
Firearms manufacturers looking to relocate to Missouri could collect a tax credit under a bill given first-round approval by the Missouri House.
The tax incentive endorsed Tuesday would expire in six years and be capped at $3 million annually. Gun and ammunition manufacturers would be able to claim the credit on withholding taxes from creating new jobs.
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 Missouri House Budget Committee has advanced legislation to abolish a tax credit of up to $750 a year for low-income seniors and disabled people who live in rental housing.
