• Home
  • News
    • Business
    • Crime / Courts
    • Health / Medicine
    • Legislature
    • Politics / Govt
  • Sports
    • The Bill Pollock Show
  • Contact Us
    • Reporters
  • Affiliates
    • Affiliate Support

Missourinet

Your source for Missouri News and Sports

You are here: Home / News / Tax credit overhaul clears Senate (AUDIO)

Tax credit overhaul clears Senate (AUDIO)

March 1, 2013 By [email protected]

A top priority of the governor and of legislative leaders has cleared the state Senate and is on its way to the House. The tax credit overhaul bill is the one that kept senators working until 3-30 Wednesday morning, hashing out competing views. It’s the bill that lowers the limits on the two biggest tax credit programs in Missouri–historic preservation, and low-income housing.

But the bill also establishes a couple of new tax credits. One encourages development of Lambert-St. Louis Airport as an international trade transport hub. Another provides credits for companies setting up data centers–computerized installations that store huge amounts of information.

Backers of the plan say the reductions in use of tax credits will mean state government will be keeping more of its money. Some members hope those funds are put into underfunded programs.  Others think they should underwrite additional tax cuts.

The proposal heads to the House which traditionally has been more favorably disposed than the Senate in tax credits as an economic development tool .  Dempsey says the final version will be written later this  session by lawmakers working out differences between the House and the Senate.

AUDIO: Final passage debate 23:12

Share this:

  • Facebook
  • Twitter

Filed Under: News

Subscribe to our daily newsletter


Tweets by Missourinet

Sports

Missouri State cruises into semis at Arch Madness

Third-seede … [Read More...]

Billikens never trail in topping UMass at A-10 tourney

Saint … [Read More...]

Cardinals and Royals will have fans at The K and Busch Stadium this season.

After … [Read More...]

Mizzou falls to Alabama in SEC Tournament

Mizzou … [Read More...]

Girl hurt in crash with ex-Chiefs Coach “likely has permanent brain damage”

A girl … [Read More...]

More Sports

Tweets by missourisports

Archives

Opinion/Editorials

TwitterFacebook

Copyright © 2021 · Learfield News & Ag, LLC