Mo. House Rejects Expiration of 2 Big Tax Credits

7 years 6 months 2 weeks ago Friday, October 07 2011 Oct 7, 2011 Friday, October 07, 2011 5:14:51 AM CDT October 07, 2011 in News
By: The Associated Press

JEFFERSON CITY - The Missouri House has overwhelmingly rejected an attempt to end tax credits for the developers of low-income housing and historic buildings.


House members defeated an amendment Thursday to an economic development bill that would have placed a July 2018 expiration date on the two programs. Instead, they adopted an amendment allowing lawmakers to consider a measure in 2016 that would prohibit the tax
credits.

The tax credits for low-income housing and renovation of historic buildings are two of Missouri's most expensive, costing about $250 million in 2010. They also have been a main source of disagreement during Missouri's special legislative session.

Senate leaders insist the programs must have expiration dates. House leaders said that would make it too easy for a single senator to block the program's renewal in the future.

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