tax credits

Cupples 9 tax credits
4:58 pm
Fri September 7, 2012

Koster sues to recover tax credits awarded to Cupples 9 project

The Cupples 9 building as it looked in 1989. Chris Koster has sued a more recent owner to recover tax credits that were allegedly fraudulently obtained.
(photo courtesy of the Landmarks Association of St. Louis)

Attorney General Chris Koster has sued a well-known St. Louis developer and his former business partner in an effort to recover tax credits that Koster says were fraudulently obtained.

In the suit filed today in Cole County, Koster alleges that in 2010 and 2011, the state Department of Economic Development awarded developers Kevin McGowan and Nathaniel Walsh nearly $2.4 million in brownfield credits to clean up lead paint at the Cupples 9 building in downtown St. Louis.

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Tax credit/Mamtek legislation
4:07 pm
Thu May 17, 2012

Tax credit/Mamtek bill likely dead

Mo. House Speaker Steven Tilley (R, Perryville)
(Marshall Griffin/St. Louis Public Radio)

The Speaker of the Missouri House has thrown cold water on a scaled-back tax credit reform measure passed Wednesday by the Senate.

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Tax credit/Mamtek legislation
3:14 pm
Wed May 16, 2012

Mo. Senate adds tax credit agreement to Mamtek bill, sends them to House

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.

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Tax credit bills
4:17 pm
Mon February 6, 2012

Mo. House committee approves tax credits for data storage, sporting events

Mo. Capitol
(Marshall Griffin/St. Louis Public Radio)

Two bills that would provide incentives for building underground data storage centers and for drawing amateur sporting events to Missouri have cleared a State House committee.

They’re now headed to the House floor.  If they pass there, Majority Floor Leader Tim Jones (R, Eureka) says he thinks they’ll have a fair shot at being passed by the Missouri Senate.

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Special Session
6:35 am
Fri October 28, 2011

Wrapping up Missouri's 2011 special legislative session

A very contentious special legislative session ended with a whimper in Jefferson City this week.  It was dominated by seven weeks of head-butting over a wide-ranging tax credit bill that in the end boiled down to a long-running battle between the Missouri House and Senate over whether tax credits should have expiration dates.  St. Louis Public Radio’s Marshall Griffin takes a closer look at what happened.

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Mo. Special Session over
12:35 pm
Tue October 25, 2011

Mo. Senate ends special legislative session, tax incentives bill dead

Pres. Pro-tem Rob Mayer (R, Dexter) talks with reporters after adjourning the Mo. Senate from the special legislative session.
(Marshall Griffin/St. Louis Public Radio)

Missouri’s special legislative session is over.

President Pro-tem Rob Mayer (R, Dexter) adjourned the Missouri Senate exactly seven weeks after lawmakers returned to Jefferson City.  Only two bills were passed, the “Facebook Fix” and a high-tech jobs measure – but the top priority, an economic development bill, died because House and Senate leaders couldn’t agree on expiration dates for historic preservation and low-income housing tax credits.

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MO Statehouse / Special Session
10:18 am
Fri October 21, 2011

Missouri Senate leader Mayer to end special session without approval of business incentives

The Missouri State Capitol building in Jefferson City, Mo.
(Marshall Griffin/St. Louis Public Radio)

The head of the Missouri Senate has announced he’s going to pull the plug on the special legislative session next week.

President Pro-tem Rob Mayer (R, Dexter) believes it’s too late to pass any kind of economic development bill before the session expires in two weeks.  Despite Thursday’s move by the Missouri House to appoint lawmakers to negotiate a final version of the wide-ranging tax credit bill, Mayer says any agreement must include 7-year expiration dates, or sunsets, on historic preservation and low income housing tax credits.

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Tax credit review
6:49 pm
Thu October 20, 2011

Mo. House endorses 4-year reviews of tax credits

Mo. House of Representatives
(UPI/Bill Greenblatt)

The Missouri House has given first-round approval to a proposed constitutional amendment that would require all tax credits to undergo a regular review process.

If it succeeds, each tax credit would have to be voted on by the full General Assembly every four years.  The resolution is the House’s alternative to expiration dates for tax credits favored by the Missouri Senate.  It’s sponsored by House Budget Chair Ryan Silvey (R, Kansas City).

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Mo. Special session
4:43 pm
Thu October 20, 2011

Mo. House seeks compromise with Senate on tax credit bill

Mo. Capitol
(Marshall Griffin/St. Louis Public Radio)

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.

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Mo. Special session
1:16 am
Tue October 18, 2011

Mo. special session may be effectively over

(UPI/Bill Greenblatt)

Missouri’s special legislative session may, in effect, be over, following Monday's actions in the Missouri Senate.

First, the Senate rejected the House version of a wide-ranging tax credit bill, voting to send it back to the House and urging passage of the Senate version.  Then Senate leaders chose not to vote on a presidential primary bill, following a failed attempt to swap it out with an alternate version that would have replaced the primary with county-level caucuses.

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