Tagged: tax credit review commission

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.

Missouri Governor Jay Nixon’s Tax Credit Review Commission has released its revised list of recommendations.  Some of the original recommendations have been scaled back: The new list calls for shrinking the cap on Historic Preservation tax credits to $90 million a year, instead of $75 million, and reducing the cap on Low Income Housing to $135 million instead of $80 million.  Former GOP Senator Chuck Gross co-chairs the commission. 

Gov. Jay Nixon is reviving a commission that recommended widespread changes to Missouri's tax credit programs.

Nixon says the growing cost of state tax credits is reason to reconvene the Missouri Tax Credit Review Commission on Sept. 12.

The panel released a report in late 2010 recommending that Missouri eliminate some of its 61 tax credit programs and reduce or change others.

But lawmakers have done little because of a disagreement among those who want to pare back Missouri's tax breaks and others who want to create new incentives for businesses.