Members of a panel created to review Missouri’s tax credits are leaning towards recommending that the cap on Historic Preservation tax credits be cut nearly in half.
The incentives program is popular with developers, but Democratic Governor Jay Nixon and a group of Republican State Senators say it’s draining off revenues from the state budget.
Tom Reeves co-chairs the subcommittee looking into Historic Preservation tax credits. He says he favors much of the recommendation from two years ago to reduce the annual cap from $140 million a year to $75 million a year.