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Holden Signs Tax Credit Reform Bill

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By AP/KWMU

Jefferson City, Mo. – A bill aimed at providing more information about state tax credit programs was signed today by Governor Holden.

The bill by Senator Michael Gibbons requires applicants for tax credits to provide more information than they do now, and to show how the credit is working for a few years after receiving it.

All programs also will be audited regularly.

The bill arose after reports of abuse in one program that's aimed at helping poor areas attract high-tech business.

That program is not eliminated under the bill. But lawmakers say the changes in law will help them gauge the effectiveness of all programs and revamp or eliminate those that are not working.

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