Panel recommends overhaul of Missouri tax credits

4 months 3 weeks 2 days ago Friday, June 30 2017 Jun 30, 2017 Friday, June 30, 2017 2:18:23 PM CDT June 30, 2017 in News
By: The Associated Press

JEFFERSON CITY (AP) — A committee appointed by Gov. Eric Greitens is recommending an overhaul of some of Missouri's main tax credits, including ones for low-income housing and historic buildings.

The report released Friday says the state should reduce tax credits available for the redevelopment of historic buildings and convert a tax credit for the construction of low-income housing into a loan program.

The final report focuses only on tax credits. It excludes more sweeping recommendations that had been included in an early draft to lower state income taxes, raise fuel taxes and eliminate various sales tax exemptions.

Greitens created the Committee on Simple, Fair and Low Taxes in January.

A previous committee under former Democratic Gov. Jay Nixon also had recommended reining in tax credits, but lawmakers didn't adopt some of its provisions.

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