Jefferson City, MO 84° View Live Radar Fri H 84° L 67° Sat H 91° L 69° Sun H 94° L 71° Weather Sponsored By:

Mo. tax credit panel pares back recommendations

Mo. tax credit panel pares back recommendations

December 14th, 2012 in News

JEFFERSON CITY, Mo. (AP) - A gubernatorial commission has pared back its recommendations for revamping Missouri's tax credits.

An updated reported released Friday by the Missouri Tax Credit Review Commission calls for fewer cutbacks in credits for historic preservation and low-income housing than the panel first recommended two years ago.

The new report also softens other recommendations that would have barred certain tax credits from being combined on projects and subjected tax credits to automatic expiration dates.

Gov. Jay Nixon asked the commission to update its report because the cost of tax credits to the state's budget has continued to rise and lawmakers have been unable to agree on proposals to overhaul the programs.

The issue is expected to come up again during the 2013 legislative session.