Tax Credits | St. Louis Public Radio

Tax Credits

(UPI/Bill Greenblatt)

Republican leaders of the Missouri General Assembly are criticizing Democratic Governor Jay Nixon’s decision to exclude land assemblage tax credits from the special session planned for next month.

In a letter to Nixon, House Speaker Steven Tilley (R, Perryville) and Senate President Pro-tem Rob Mayer (R, Dexter) said that his “personal agenda against an individual developer (Paul McKee)...has no place in this debate and should not impact the overall priority of tax credit reform.”

(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.

Nixon outlines plans for 2011 special session

Jul 21, 2011
(Marshall Griffin/St. Louis Public Radio)

Updated 3:46 p.m.

St. Louis business leaders are praising a move by state lawmakers and the governor to take up a broad-ranging package of economic incentives.

Governor Nixon announced Thursday that he will call a special session in September to talk address jobs and economic development

Chief among the package is $360 million in tax incentives for Lamber-St. Louis International Airport.

(via Flickr/dbking)

Updated 5:26 p.m. with further detail and comment from lawmakers

Updated 2:24 p.m. with statement from office of Gov. Nixon on special session

A statement issued today from Scott Holste, a spokesperson for Mo. Gov. Jay Nixon, announces that the governor will call the Missouri legislature into special session.

The date of the special session has not been determined.

(Marshall Griffin/St. Louis Public Radio)

At least one Missouri legislative leader is so far saying "no" to Governor Jay Nixon's proposed top-level meeting to forge a jobs bill

House Speaker Steven Tilley said any such meeting would be premature while the House and Senate remain at odds over tax credit reform.

(UPI/Bill Greenblatt)

Governor Jay Nixon (D) is planning to host a meeting next week with Missouri lawmakers to broker an agreement on an economic development bill.

The State House and Senate adjourned in May without passing legislation that would have created several new tax breaks, among them a proposal that would have provided $360 million in incentives to transform Lambert Airport in St. Louis into an international air cargo hub.

Adam Allington / St. Louis Public Radio

A taco stand shaped like a giant flying saucer was the subject of heated debate at the St. Louis City Board of Aldermen on Wednesday.

The board’s Housing, Urban Development and Zoning Committee approved a tax abatement bill which could move North Grand’s Del Taco one step closer to demolition.

The iconic gas station turned fast-food joint has become a cause célèbre among local preservationists.

The historic entrance arch to the Lewis Place neighborhood, which will receive state aid nearly a year after a tornado damaged 91 homes in the area.
Adam Allington | St. Louis Public Radio

St. Louis is freeing up $1 million dollars to fund repairs to a historic north side neighborhood damaged in last year’s New Years Eve tornado.

The storm damage in St. Louis was not enough to qualify for federal disaster aid.

City officials announced on Monday that uninsured property owners on Lewis Place could qualify for up to $30,000 for repairs.

The storm damaged roughly 150 buildings on Lewis Place, a site know for its lush green median and historic footnote in St. Louis’ Civil Rights struggle.

(St. Louis Public Radio)

A key lawmaker involved in negotiating an overhaul of Missouri's tax incentives says its prospects for passage appear "dismal" on the final day of the legislative session.

Republican House member John Diehl, of Town and Country, has been at the center of compromise attempts involving a bill that would curtail some of Missouri's existing tax credits. The bill also creates new credits intended to attract international trade, amateur sporting events and science and technology companies to
Missouri.

(Marshall Griffin/St. Louis Public Radio)

Some minor progress, but no breakthrough yet in efforts to pass both the St. Louis Police local control and tax credit legislation.

The Missouri Senate this evening confirmed Governor Jay Nixon’s appointment to the state-run board that oversees the St. Louis Police Department.  Tom Irwin’s appointment is seen as a precursor to implementing local control.

(Marshall Griffin/St. Louis Public Radio)

Early this morning, the Missouri Senate gave first-round approval to a major overhaul of the state's tax credit system.  

The wide-ranging bill would phase out numerous incentive programs while reducing others.  Among those being partially eliminated is a tax break enabling low-income senior citizens to offset either property taxes or monthly rent payments.  It's sponsored by GOP Senator Chuck Purgason of Howell County.

File photo | St. Louis Public Radio

  • A Pennsylvania man has been charged with three counts of child molestation and one count of statutory sodomy after he allegedly forced his way into a hotel room at the Ritz-Carlton Hotel in Clayton and molested a 9 year-old girl. The St. Louis Post-Dispatch reports that after returning to the hotel intoxicated at around 4 a.m. Sunday morning, 42 year-old Daniel T. Hughes went to the wrong room.

File photo

The incoming Speaker of the Missouri House is hinting of a battle with Governor Jay Nixon over tax credits.
A committee appointed by the Democratic governor has recommended eliminating nearly half of the state's tax credit programs. House Speaker-elect Steven Tilley (R, Perryville) says he has doubts about the accuracy of the tax credit committee report.
"My preliminary evaluation of it is (that) they've used false data and incorrect conclusions to come up with the recommendations," Tilley told reporters at a press conference today.

300 pixels wide Kiel to Peabody constrruction
Rachel Heidenry | 2010 | St. Louis Beacon

If you want to take a break from the economic dirge of the past few weeks, here's a number to ponder:

$929 million.

An enormous vacant lot has not inspired confidence that Ballpark Village will be the economic boost that was promised. 2008 300 pixels wide
Rachel Heidenry | St. Louis Beacon archives

This article first appeared in the St. Louis Beacon: August 5, 2008 -  It's been a long and winding road to Ballpark Village, with still many miles to go. Eight years ago when the Cardinals owners first floated the idea of a new stadium, Ballpark Village was the carrot to win over a wary public. There was strong resistance to public assistance for a new stadium, and the Village offered the promise of a true economic boost to downtown.

After years of delays and frustrations, the owners announced a tentative new start, planting hope that the big dirt patch next to the stadium may prove fertile development ground after all.

This article first appeared in the St. Louis Beacon: Tax credits are a hot topic in the Missouri Legislature. Fans of these instruments assert that tax credits are necessary for Missouri to compete with other states and to signal that we are “open for business.” Such devotion to helping the state grow is admirable. Fans, however, are not experts and a careful review of the evidence and some basic economics helps us understand why these herculean efforts are misguided. When asked whether Missouri can stay open for business while avoiding the pitfalls of the tax credit, the answer is unambiguously yes.

This article first appeared in the St. Louis Beacon: Missouri boasts a veritable catalogue of unmet needs. These include education at all levels: Teachers' pay is low; the state's support of secondary and elementary education ranks toward the bottom; and college tuition in Missouri is higher than that in any other state in the Big 12 Conference. Health care is similarly starved for resources, and our transportation infrastructure is deteriorating. The state has yet to face the fact that a modern economy demands improvement in these areas, not a slide to the bottom.

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