Developer Tax Breaks Hang Up Mo. Special Session

8 years 4 weeks 1 day ago Thursday, September 22 2011 Sep 22, 2011 Thursday, September 22, 2011 11:02:34 AM CDT September 22, 2011 in News
By: Associated Press

JEFFERSON CITY (AP) - Missouri's special legislative session is on the verge of failure in part because of a long-simmering disagreement among House and Senate members about tax breaks for developers. An overhaul of Missouri's existing tax credits remains a central component of a bill that also would create new incentives for businesses that expand their payrolls, ship exports out of the St. Louis airport or locate high-tech operations in Missouri.

But top legislators said Thursday that the two chambers remain at odds over whether to place an expiration date on existing tax credits for developers who build low-income housing and renovate historic buildings. The Senate insists those programs should end in 2018. The House wants the programs to continue indefinitely.

If there is no agreement, lawmakers may end the special session Friday.

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