Missouri House rejects attempt to cut two big tax credits
Thursday, October 6, 2011 | 12:43 p.m. CDT
JEFFERSON CITY — The Missouri House has overwhelmingly rejected an attempt to end tax credits for the developers of low-income housing and historic buildings.
House members defeated an amendment Thursday to an economic development bill that would have placed a July 2018 expiration date on the two programs. Instead, they adopted an amendment allowing lawmakers to consider a measure in 2016 that would prohibit the tax credits.
The tax credits for low-income housing and renovation of historic buildings are two of Missouri's most expensive, costing about $250 million in 2010. They also have been a main source of disagreement during Missouri's special legislative session.
Senate leaders insist the programs must have expiration dates. House leaders said that would make it too easy for a single senator to block the program's renewal in the future.
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