With just a few days left in the legislative session, the Senate has approved a $30-million economic development bill. It’s a modified version of HB 2058 – the economic development bill passed by the House.
Senator Harry Kennedy (D-St. Louis) says it’s a package that includes tax credits under the Quality Jobs Program, capping the credits at $60-million. He says it also includes economic development tax credits that are approved as part of the Neighborhood Assistance Program with increases similar to those seen in the 2005, 2006, and 2007 Fiscal Years.
The House and Senate differ on what they want to see in the Quality Jobs Program, with the House opting to lift all caps on tax credits. House and Senate negotiators could get together today to iron out this and other differences.