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Thursday, May 13, 2010

Tax Credit Battle Almost Over -- For Now

The Missouri General Assembly's session ends on Friday. So far, no proposals to change tax credit programs have been taken up this week in the Senate or House. There may be a last-minute push in the Senate to pass a bill that would include the following changes:

Capping historic tax credits at $75 million per year but retaining the exemption for projects with under $1.1 million in qualified rehabilitation expenditures (the "small deal" exemption);

Create legislative appropriation of funding in future years.

Observers do not expect this measure to make it out of the Senate. If it does, the House Republican leadership has pledged to kill it.

There is no doubt, however, that the reprieve is momentary. Next session Governor Jay Nixon and his allies will get an earlier start on pushing reform, in the sense that they started next session's fight in this session.


Doug Duckworth said...

You know some high end cowboy boots cost as much as Gucci shoes!

Anonymous said...

I always knew God made Republicans for a reason. I'm glad we can breathe a sigh of relief for now. Thanks for following this important issue so closely. Your reporting is much appreciated!