Mo. House Rejects Expiration of 2 Big Tax Credits
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
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.