Tax credit review
6:49 pm
Thu October 20, 2011

Mo. House endorses 4-year reviews of tax credits

The Missouri House has given first-round approval to a proposed constitutional amendment that would require all tax credits to undergo a regular review process.

If it succeeds, each tax credit would have to be voted on by the full General Assembly every four years.  The resolution is the House’s alternative to expiration dates for tax credits favored by the Missouri Senate.  It’s sponsored by House Budget Chair Ryan Silvey (R, Kansas City).

“I think we all agree that good government is that you do periodically review programs, you do have an opportunity to bring them to an end," Silvey said.  "We just need to do it in a way that is fair to everyone, and we think the best way to do that is to insure a vote.”

Senate leaders, though, don’t think the House proposal goes far enough.  They want automatic expiration dates on all tax credit programs, including 7-year sunsets on historic preservation and low-income housing incentives.

The proposed constitutional amendment needs one more House vote before moving to the Senate.  The special session, meanwhile, is set to expire in just over two weeks.