Push to Change Missouri’s Tax Credit Programs
JEFFERSON CITY, Mo. (AP) — Gov. Jay Nixon is reviving a commission that recommended widespread changes to Missouri’s tax credit programs.
Nixon says the growing cost of state tax credits is reason to reconvene the Missouri Tax Credit Review Commission on Sept. 12.
The panel released a report in late 2010 recommending that Missouri eliminate some of its 61 tax credit programs and reduce or change others.
But lawmakers have done little because of a disagreement among those who want to pare back Missouri’s tax breaks and others who want to create new incentives for businesses.
Nixon says Missouri set an all-time high during the 2012 fiscal year by waiving $629 million of revenues through tax credits. That’s up from about $523 million of tax credit redemptions during the 2010 fiscal year.
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