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Nixon extends report date for tax credit study

JEFFERSON CITY, Mo. (AP) — Gov. Jay Nixon is giving a panel some extra time to finish evaluating Missouri’s tax credit programs.

Nixon initially asked the Tax Credit Review Commission to submit an updated report by Dec. 5. He has now pushed back that deadline to Dec. 15.

The commission reported in late 2010 that Missouri could save up to $220 million annually by reducing, changing or ending dozens of tax credit programs that have outlived their usefulness or don’t produce much benefit.

But lawmakers have not implemented the suggestions.

Nixon asked the commission to update its work because annual redemptions of tax credits have risen 20 percent over the past two years.

Tax credits will be on the agenda again in the 2013 legislative session.

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