Tax credit/Mamtek legislation
4:07 pm
Thu May 17, 2012

Tax credit/Mamtek bill likely dead

The Speaker of the Missouri House has thrown cold water on a scaled-back tax credit reform measure passed Wednesday by the Senate.

It would cap historic preservation tax credits at $75 million dollars a year, give a one-year extension to food pantry and other charitable tax breaks, and create incentives for luring amateur sporting events to Missouri.  House Speaker Steven Tilley (R, Perryville) says there’s not much support for cutting historic preservation credits nearly in half.

“You took a program that we think works, and in return for that, what you get is amateur sporting events," Tilley said.  "It’s not something that I think that we’re gonna come to a conclusion on, or a resolution on, this year.”

The tax credit agreement was added onto a bill that would require new regulations designed to avoid another Mamtek situation, where the town of Moberly’s credit rating took a hit when plans to build an artificial sweetener plant fell through.  The 2012 regular session ends Friday at 6:00 p.m.