tax credit reform

Jason Rosenbaum, St. Louis Public Radio

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.

(via Flickr/jimbowen0306)

Leaders in the Missouri House and Senate have just one day left to reach agreement on a number of unresolved issues, including an ongoing dispute over how to control spending on state tax credits.

"There's four or five things I've promised senators that we'd get to," said Republican floor leader Ron Richard, including some form of an economic development bill.

The two chambers remain divided over the cap on historic preservation and low-income housing credits. The House has sent a proposal over to the Senate, but it's likely to fail.