Panel recommends overhaul of Missouri tax credits

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(AP) – A committee appointed by Governor Eric Greitens is
recommending an overhaul of some of Missouri’s main tax credits, including ones
for low-income housing and historic buildings.

The report released Friday says the state should reduce tax credits available
for the redevelopment of historic buildings and convert a tax credit for the
construction of low-income housing into a loan program.

The final report focuses only on tax credits. It excludes more sweeping
recommendations that had been included in an early draft to lower state income
taxes, raise fuel taxes and eliminate various sales tax exemptions.

Greitens created the Committee on Simple, Fair and Low Taxes in January.

A previous committee under former Democratic Gov. Jay Nixon also had
recommended reining in tax credits, but lawmakers didn’t adopt some of its
provisions.


   

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