Missouri tax credit report could come by Thanksgiving
Monday, November 22, 2010
A committee appointed by Gov. Jay Nixon could release recommendations this week on how to revamp Missouri’s wide-ranging system of tax credits.
Co-Chairman Chuck Gross said he hopes members can meet Nixon’s deadline to have recommendations by Thanksgiving.
Missouri granted about $585 million of tax credits through 53 programs during the 2009 fiscal year. They include incentives for business expansions, the renovation of historic buildings and contributions to domestic violence shelters, among other things.
Committee members narrowly voted last week to recommend the annual cap on historic preservation tax credits should be reduced from $140 million to $75 million. Other recommendations would shorten the lifespan for tax credits for low-income housing and eliminate them for film makers.