The Missouri Senate has passed a tax credit measure after hammering out an agreement between GOP leaders and fiscal conservatives who’ve been trying to reign in tax breaks for years.
The agreement would cap historic preservation tax credits at $75 million per year, give a one-year extension to food pantry and other charitable tax breaks, and create incentives to draw amateur sporting events to Missouri. State Senator Eric Schmitt (R, Glendale) urged the chamber to pass it before time runs out on the regular session.
The Missouri House has done an about-face and now wants a joint committee to negotiate a final version of a wide-ranging tax credit bill that has divided the House and Senate throughout the ongoing special session.
House Speaker Steven Tilley (R, Perryville) had suggested weeks ago that a conference committee wasn’t necessary and that any differences on tax credits could be worked out during floor debates. Senate President Pro-tem Rob Mayer (R, Dexter), meanwhile, had pushed for going to conference because that’s the normal route for reaching compromise on bills. Tilley says he’s decided to take Mayer at his word.