[CPEO-BIF] "Panel recommends overhaul of Missouri tax credits"

[Lenny Siegel <lsiegel@cpeo.org>]

Panel recommends overhaul of Missouri tax credits


By DAVID A. LIEB and SUMMER BALLENTINE
Associated Press/WRAL (MO)
June 30, 2017

JEFFERSON CITY, MO. - A panel appointed by Gov. Eric Greitens is recommending an overhaul of some of Missouri's main tax credits, including ones for low-income housing and historic buildings, but has shied away from more sweeping changes to state income and sales taxes.

The report released Friday suggests the state should reduce the tax credits available for the redevelopment of historic buildings, convert a tax credit for the construction of low-income housing into a loan program and make both programs contingent upon the annual state budget adopted by lawmakers and the governor.

...

The final report focuses only on tax credits. It excludes more comprehensive changes that had been included in an earlier draft to lower individual income taxes, ...
The report recommends consolidating the current historic preservation and Brownfield environmental remediation tax credits into a single program limited to $50 million annually, with a per-project limit of $2 million. The historic preservation program issued nearly $60 million of tax credits in fiscal 2016 - far less than its annual cap of $140 million - while nearly $10 million of tax credits were issued through the Brownfield program.

…

For the entire article, see
http://www.wral.com/panel-recommends-overhaul-of-missouri-tax-credits/16795659/

--

Lenny Siegel
Executive Director
Center for Public Environmental Oversight
a project of the Pacific Studies Center
P.O. Box 998, Mountain View, CA 94042
Voice/Fax: 650/961-8918 
<lsiegel@cpeo.org>
http://www.cpeo.org

_______________________________________________
Brownfields mailing list
Brownfields@lists.cpeo.org
http://lists.cpeo.org/listinfo.cgi/brownfields-cpeo.org