Senate Backs Air Freight Incentives and Tax Credit Caps

6 years 7 months 1 week ago Tuesday, April 30 2013 Apr 30, 2013 Tuesday, April 30, 2013 2:18:00 PM CDT April 30, 2013 in News
By: Garrett Bergquist
loading

JEFFERSON CITY - In a single vote on Tuesday, the Missouri Senate endorsed incentives for air freighters and data centers while curbing tax credits for historic properties and low-income housing.

Under the bill, air freighters who shipp cargo out of the country from Missouri could qualify for a tax credit of 40 cents per kilogram of cargo. The state could hand out up to $7.5 million in credits through this program each year. The bill also exempts data storage centers from state and local sales and use taxes on machinery, energy usage and utilities.

In addition to creating credits, the bill caps or eliminates several programs. For instance, the bill caps the Low Income Housing Tax Credit at a total of $55 million per year. Brownfield Remediation tax credits, which are used to redevelop land contaminated with hazardous wastes, are capped at $20 million per year. The 2010 Tax Credit Review Commission Report called for a $25 million-per-year cap.

The bill drew strong debate on the senate floor and disagreement was not limited to party lines. Sen. John Lamping, R-St. Louis, called a provision for data centers "corporate welfare" and questioned whether data centers' energy usage justified the jobs they would provide. He said he did not think it was a good idea to include so many different proposals in one bill, saying he would prefer to vote on each one individually. Lamping voted against the bill along with Sen. Kurt Schaefer, R-Columbia.

During extended debate with Lamping, Sen. Eric Schmitt, R-Glendale, defended the bill's breadth, saying a lack of tax credit reform sends a bad message to anyone doing business with Missouri. He said tax credits such as the air freight credit are necessary losses of revenue that can encourage the state's economy to grow.

Sen. Joseph Keaveny, D-St. Louis, attacked proposals to lower the cap on the Historic Preservation Credit, noting the credits could be used anywhere in the state to attract jobs. Sen. Brad Lager, R-Savannah, accused municipalities of abusing tax credits such as this one because it allows them to fund projects with state money without using any of their own. The bill caps this credit at $60 million per year. The Tax Credit Review Commission recommended the program's current $140 million-per-year cap be reduced to $75 million.

 

More News

Grid
List
COLUMBIA - On Wednesday, the Boone County League of Women Voters is celebrating 100 years since its founding. The... More >>
5 hours ago Wednesday, December 11 2019 Dec 11, 2019 Wednesday, December 11, 2019 3:45:00 AM CST December 11, 2019 in News
JEFFERSON CITY - Lawmakers from both sides of the aisle will come together for a press conference over Missouri's HIV-specific... More >>
5 hours ago Wednesday, December 11 2019 Dec 11, 2019 Wednesday, December 11, 2019 3:40:00 AM CST December 11, 2019 in News
COLUMBIA - The Hughes' family puts together their Christmas jigsaw puzzle in their front yard around Thanksgiving every year. It's... More >>
10 hours ago Tuesday, December 10 2019 Dec 10, 2019 Tuesday, December 10, 2019 10:39:00 PM CST December 10, 2019 in Continuous News
COLUMBIA - The Supreme Court of Missouri unanimously upheld a death sentence ruling Tuesday against a Jefferson City man who... More >>
11 hours ago Tuesday, December 10 2019 Dec 10, 2019 Tuesday, December 10, 2019 9:36:00 PM CST December 10, 2019 in News
COLUMBIA - The Missouri Court of Appeals ruled in favor of awarding $5.3 million to Ryan Ferguson. The court... More >>
12 hours ago Tuesday, December 10 2019 Dec 10, 2019 Tuesday, December 10, 2019 8:30:00 PM CST December 10, 2019 in News
ELDON - Four city workers in Eldon are left in the dark after they have been notified by the city... More >>
13 hours ago Tuesday, December 10 2019 Dec 10, 2019 Tuesday, December 10, 2019 7:36:00 PM CST December 10, 2019 in News
COLUMBIA – Columbia Public Schools released its investigation summary into the Battle High School vs. Jackson R-2 varsity football game.... More >>
13 hours ago Tuesday, December 10 2019 Dec 10, 2019 Tuesday, December 10, 2019 7:23:00 PM CST December 10, 2019 in News
COLUMBIA - Four state lawmakers have pre-filed legislation to raise Missouri's fuel tax in 2021. The tax is currently... More >>
13 hours ago Tuesday, December 10 2019 Dec 10, 2019 Tuesday, December 10, 2019 7:13:00 PM CST December 10, 2019 in News
COLUMBIA - Nearly 70,000 pounds of pork will be going to Missouri families after a donation from the Missouri Pork... More >>
14 hours ago Tuesday, December 10 2019 Dec 10, 2019 Tuesday, December 10, 2019 6:39:00 PM CST December 10, 2019 in News
JEFFERSON CITY – The Central Missouri Mother's Milk Depot opened in early spring of 2019. Now, as premature baby rates... More >>
17 hours ago Tuesday, December 10 2019 Dec 10, 2019 Tuesday, December 10, 2019 3:05:00 PM CST December 10, 2019 in News
JEFFERSON CITY — The Missouri Supreme Court heard arguments Tuesday for Planned Parenthood's fight with the state over funding. ... More >>
17 hours ago Tuesday, December 10 2019 Dec 10, 2019 Tuesday, December 10, 2019 2:58:00 PM CST December 10, 2019 in News
COLUMBIA - The Columbia Police Department confirmed it was conducting a homicide investigation after a shooting at the Welcome Inn... More >>
18 hours ago Tuesday, December 10 2019 Dec 10, 2019 Tuesday, December 10, 2019 2:45:00 PM CST December 10, 2019 in News
COLUMBIA – The man accused of killing a woman who has been missing since 2006 appeared in court Tuesday afternoon.... More >>
18 hours ago Tuesday, December 10 2019 Dec 10, 2019 Tuesday, December 10, 2019 2:35:00 PM CST December 10, 2019 in News
MOBERLY - Police confirmed the identity of a man accused of robbing a gas station at gun point Saturday. ... More >>
18 hours ago Tuesday, December 10 2019 Dec 10, 2019 Tuesday, December 10, 2019 2:25:00 PM CST December 10, 2019 in News
COLUMBIA - Mizzou officially announced the 33rd head coach in football program history Tuesday, welcoming former Appalachian State head coach... More >>
19 hours ago Tuesday, December 10 2019 Dec 10, 2019 Tuesday, December 10, 2019 1:32:00 PM CST December 10, 2019 in News
COOPER COUNTY – Emergency crews continued the search for the body of missing Columbia woman Mengqi Ji Elledge early Tuesday... More >>
23 hours ago Tuesday, December 10 2019 Dec 10, 2019 Tuesday, December 10, 2019 9:14:00 AM CST December 10, 2019 in News
WASHINGTON (AP) — House Democrats are poised to unveil two articles of impeachment against President Donald Trump — abuse of... More >>
1 day ago Tuesday, December 10 2019 Dec 10, 2019 Tuesday, December 10, 2019 8:24:00 AM CST December 10, 2019 in News
PRAGUE (AP) - Police and officials say six people have been killed and three wounded in a shooting in a... More >>
1 day ago Tuesday, December 10 2019 Dec 10, 2019 Tuesday, December 10, 2019 5:33:57 AM CST December 10, 2019 in News
Columbia, MO
Broken Clouds 26°
9am 33°
10am 37°
11am 41°
12pm 43°