Missouri House Endorses Tax Credit Legislation

4 years 3 months 2 weeks ago Wednesday, March 05 2014 Mar 5, 2014 Wednesday, March 05, 2014 6:44:18 PM CST March 05, 2014 in News
By: The Associated Press

JEFFERSON CITY, Mo. (AP) - Missouri House members have endorsed legislation that would create several new business incentives while limiting some existing tax breaks for developers.

The bill given initial approval Wednesday creates tax breaks for computer data centers, firms that ship international cargo through Missouri airports and investors in new high-tech businesses.

It also lowers the amount of annual tax credits that can be authorized for developers of low-income housing and historic buildings.

The measure needs another House vote to go to the Senate, where its prospects are uncertain.

Lawmakers in the two chambers have been at odds for several years about the need to curb tax credits for housing and building developers. Some senators generally have pushed for lower limits than House members favor and resisted efforts to create new business tax credits.

 

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