The economic development deal struck by lawmakers will cut one of Missouri’s most popular tax credits nearly in half.
The deal between House and Senate leaders would cut the amount of Historic Preservation tax credits issued each year from $140 million down to $80 million.
Ruth Keenoy with the non-profit Landmark Associates of St. Louis, Inc., says the smaller cap would be detrimental to Missouri’s economy. She wants the incentives to be left as-is.
Updated 3:46 p.m.
St. Louis business leaders are praising a move by state lawmakers and the governor to take up a broad-ranging package of economic incentives.
Governor Nixon announced Thursday that he will call a special session in September to talk address jobs and economic development
Chief among the package is $360 million in tax incentives for Lamber-St. Louis International Airport.
According to St. Louis Mayor Francis Slay, by this time next year the city could have control of its own police force for the first time since the Civil War.
The announcement came on Wednesday in tandem with an agreement on an package of economic development incentives.
Both issues will be taken up during a special legislative session later this summer.
Slay says the agreement has cleared the way for passage of local control, which now has the backing of the Republican-controlled state House and Senate
Updated 5:26 p.m. with further detail and comment from lawmakers
Updated 2:24 p.m. with statement from office of Gov. Nixon on special session
A statement issued today from Scott Holste, a spokesperson for Mo. Gov. Jay Nixon, announces that the governor will call the Missouri legislature into special session.
The date of the special session has not been determined.
Updated 7:51 p.m.
A letter from Mo. Gov. Jay Nixon circulated around Twitter this afternoon, and hosted on the Missouri Chamber of Commerce's website, states that Nixon will be leading a Missouri delegation to China "later this year."
According to the St. Louis Post-Dispatch, Nixon's office has confirmed that the trip is in the works.
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