Historic Preservation

(via Flickr/jennlynndesign)

Updated 5:14 p.m.

The Missouri House has passed its version of a wide-ranging tax credit bill.

It does not place expiration dates, or sunsets, on historic preservation and low income housing tax credits, as demanded by the Senate.  Instead, House GOP leaders hope to mollify the Senate with a new proposal:  All tax credit programs would come up for review every four years and be subject to a renewal vote by the General Assembly.  The measure is sponsored by House Budget Chairman Ryan Silvey (R, Kansas City).

(UPI/Bill Greenblatt)

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.