Tagged: tax credits

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.

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.

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.

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.