The Missouri House passed legislation on Thursday curtailing two of the state’s largest tax credit programs.
State Rep. Anne Zerr’s bill would reduce the historic preservation tax credit’s cap to $90 million from $140 million. That program helps refurbish older buildings and has been used extensively throughout St. Louis.
The bill would also gradually reduce the cap on the tax credit for low-income housing to $110 million from $140 million. That credit provides an incentive for developers to build housing for the working poor, elderly and disabled.