Mo. Senate committee passes economic development bill | St. Louis Public Radio

Mo. Senate committee passes economic development bill

Sep 8, 2011

The legislation contains numerous tax incentives, but also places caps and expiration dates on some frequently used programs.

The bill caps historic preservation tax credits at $80 million per year and low-income housing incentives at $110 million per year. 

Kevin Klingerman with Catholic Charities St. Louis told the committee that capping the circuit breaker tax break for renters would hurt the poor and elderly in Missouri.

"I've personally witnessed that once a year when the circuit breaker comes in, and these people are actually able to buy a pair of shoes, these people can preserve some base human dignity," said Klingerman.

 Supporters argued that the bill, in particular the Aerotropolis portion, could create thousands of jobs and open up new international markets to Missouri products.  It now goes before the full Senate for debate.