Missouri Tax Credit News
Missouri Politics - the cycle repeats - September 20, 2012
They're back! The Tax Credit Commission established by Missouri Governor Jay Nixon two years agao met in Jefferson City last week. This is the second attempt to have this group make changes to the tax credits in Missouri. The committee again will be chaired by Chuck Gross and Steve Stogel. A final report has been promised by December 5th.
The committee heard reports from DED recapping the prior history of reports, proposed bills, etc. There was a focus on the increase in tax credit redemptions in FY12, with the historic and low income tax credits highlighted as the largest.
Don't assume the commission will get too far. Speaker Jones leads the Republican dominated House and has emphasized that this is the same commission and he expected the same results. Furthermore, he indicated that the legislature will have their own committee look at tax credits to decide how to address them next session. Thankfully he did reiterate that sunset provisions are off the table. However, it does not appear that he is opposed to changes to the annual caps.
Stay tuned. It promises to be an interesting legislative session once again.
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