Senate Committee Hears Tax Credit Results

4 years 9 months 2 weeks ago Monday, February 04 2013 Feb 4, 2013 Monday, February 04, 2013 2:36:00 PM CST February 04, 2013 in News
By: Garrett Bergquist

JEFFERSON CITY - State agency representatives told a senate committee Monday more than $600 million were redeemed in tax credits last year as debate heats up over changes to the credits.

Department of Economic Development Acting Director Chris Pieper said about $467 million of these credits were redeemed through his department. The department oversees 24 of the state's 61 tax credit programs, including the Low Income Housing Tax Credit and the Historic Preservation Tax Credit. Legislation this year has called for caps for both of these programs.

Sallie Hemenway, the director of the department's Business and Community Services Division, said the Historic Preservation Credit created almost 2,400 jobs last year. Legislation this year has called for a tighter cap on redemptions permitted for this credit. Hemenway said not all tax credits that are issued to applicants are actually redeemed. Redemption is the point at which the state actually loses tax revenue.

During testimony, the Department of Revenue's Joel Allison said about $57 million worth of tax credits were redeemed through the Property Tax Credit for renters. Gov. Nixon has called for the elimination of this credit in his budget, echoing a recommendation from the Tax Credit Review Commission in 2010.

 

More News

Grid
List
KANSAS CITY, Mo. (AP) — A jail inmate has been charged with first-degree assault and armed criminal action after authorities... More >>
29 minutes ago Friday, November 24 2017 Nov 24, 2017 Friday, November 24, 2017 12:11:47 PM CST November 24, 2017 in News
COLUMBIA - A Columbia man involved in a deadly shooting in May has been indicted by a federal grand jury... More >>
1 hour ago Friday, November 24 2017 Nov 24, 2017 Friday, November 24, 2017 11:40:00 AM CST November 24, 2017 in News
COLUMBIA - Police arrested a man early Thursday morning for various drugs and weapons charges. CPD says officers smelled... More >>
1 hour ago Friday, November 24 2017 Nov 24, 2017 Friday, November 24, 2017 11:37:00 AM CST November 24, 2017 in News
KIMBERLING CITY, Mo. (AP) — Two tangled bucks that drowned in a Missouri lake last month have been memorialized in... More >>
1 hour ago Friday, November 24 2017 Nov 24, 2017 Friday, November 24, 2017 11:05:18 AM CST November 24, 2017 in News
ST. LOUIS (AP) — Three Thanksgiving Day killings in St. Louis have brought this year's homicide total to 188, matching... More >>
1 hour ago Friday, November 24 2017 Nov 24, 2017 Friday, November 24, 2017 10:58:31 AM CST November 24, 2017 in News
ST. LOUIS (AP) - A soldier home for Thanksgiving in St. Louis is OK, but he lost his car and... More >>
1 hour ago Friday, November 24 2017 Nov 24, 2017 Friday, November 24, 2017 10:44:30 AM CST November 24, 2017 in News
KANSAS CITY, Mo. (AP) — A man who was arrested after sleeping in a Kansas storage unit with his two... More >>
2 hours ago Friday, November 24 2017 Nov 24, 2017 Friday, November 24, 2017 10:32:21 AM CST November 24, 2017 in News
ST. LOUIS (AP) — St. Louis police are investigating after two officers fatally shot a man and wounded a 14-year-old... More >>
2 hours ago Friday, November 24 2017 Nov 24, 2017 Friday, November 24, 2017 10:13:19 AM CST November 24, 2017 in News
COLUMBIA - Police said Thursday night's shooting at the Columbia Mall was an accident, and happened as a man tried... More >>
4 hours ago Friday, November 24 2017 Nov 24, 2017 Friday, November 24, 2017 7:43:00 AM CST November 24, 2017 in News
FORT LEONARD WOOD - Soldiers attending 787th Military Police Battalion for Military Police One Station Unit Training enjoy a traditional... More >>
15 hours ago Thursday, November 23 2017 Nov 23, 2017 Thursday, November 23, 2017 8:45:00 PM CST November 23, 2017 in News
COLUMBIA - Columbia Parks and Recreation had big plans in mind when it first started building a championship level disc... More >>
16 hours ago Thursday, November 23 2017 Nov 23, 2017 Thursday, November 23, 2017 7:49:00 PM CST November 23, 2017 in News
COLUMBIA – Shoppers put down their forks and picked up their wallets as Black Friday deals ran into Thanksgiving. ... More >>
17 hours ago Thursday, November 23 2017 Nov 23, 2017 Thursday, November 23, 2017 7:39:00 PM CST November 23, 2017 in News
COLUMBIA - Volunteers, young and old, served food to hundreds of people for Almeta Crayton’s Everybody Eats 20th Annual Thanksgiving... More >>
21 hours ago Thursday, November 23 2017 Nov 23, 2017 Thursday, November 23, 2017 2:50:00 PM CST November 23, 2017 in News
MEXICO - A 34-year-old man died Thursday morning after he crashed his vehicle. Omar Guadencio Cruz-Martinez, of Mexico, Missouri,... More >>
23 hours ago Thursday, November 23 2017 Nov 23, 2017 Thursday, November 23, 2017 12:47:42 PM CST November 23, 2017 in News
BOONE COUNTY - The Boone County Sheriff's Department confirmed a pedestrian died after being struck by a car on Wednesday... More >>
1 day ago Thursday, November 23 2017 Nov 23, 2017 Thursday, November 23, 2017 12:19:00 PM CST November 23, 2017 in News
COLUMBIA - There are school choirs, church choirs, and mixed choirs, but now there is the opportunity to join a... More >>
1 day ago Thursday, November 23 2017 Nov 23, 2017 Thursday, November 23, 2017 11:57:00 AM CST November 23, 2017 in News
BOONVILLE - The breeding home of the Budweiser Clydesdales, Warm Springs Ranch, is hosting its inaugural Holiday Lights Festival starting... More >>
1 day ago Thursday, November 23 2017 Nov 23, 2017 Thursday, November 23, 2017 10:39:00 AM CST November 23, 2017 in News
COLE COUNTY - The Cole County Sheriff's Department said it is investigating a shooting that happened Wednesday night. ... More >>
1 day ago Wednesday, November 22 2017 Nov 22, 2017 Wednesday, November 22, 2017 9:58:20 PM CST November 22, 2017 in News
Columbia, MO
Broken Clouds 70°
1pm 70°
2pm 72°
3pm 72°
4pm 70°

Select a station to view its upcoming schedule:

Coming Up Next

12:00p
NHL Hockey
3:00p
Dr. Phil
4:00p
Jeopardy!
12:00p
Jerry Springer
1:00p
Maury
2:00p
Maury

Tonight's Schedule

7:00p
Dr. Seuss' How the Grinch Stole Christmas
7:30p
Trolls Holiday Special
8:00p
Dateline NBC
7:00p
iHeartRadio Music Festival, Night 2
9:00p
KOMU 8 News @ Nine on The CW
9:30p
Seinfeld