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Mo. Senate Panel To Hold Hearing on Tax Credits

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Corporate Taxes, Peter Macdiarmid, Getty Images
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JEFFERSON CITY, Mo. (AP) - A Missouri Senate committee is set to review the state’s numerous tax credit programs and their impact on the state budget.

The Senate Appropriations Committee scheduled a hearing Monday on tax credits before it takes up Gov. Jay Nixon’s proposed budget for the 2014 fiscal year.

The 61 tax credit programs currently offered by Missouri cost the state nearly $630 million in the latest fiscal year. Last week, the Senate approved another one, with an estimated yearly cost of $3 million, to attract amateur sporting events to the state.

The panel will also hold a hearing on the Department of Economic Development’s budget Monday.

© Copyright 2013 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.

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