by Michael R. Allen
Yesterday evening the Missouri House Jobs and Economic Development Committee did not take up the substitute to the “economic development” bill HR 2399. Chairman Tim Flook (R) mentioned the bill at the committee meeting but did not call it. Apparently Flook is still working with members of the Senate on getting the Senate to pass a bill that changes the tax credit policies.
One version of reform said to be favored by Flook is capping the historic tax credit program at $100 million and lowering its reimbursement percentage from 25% to 20%. This proposal would be combined with a provision forbidding use of both historic tax credits and low income housing tax credits on the same project.
Expect a version of this proposal to be debated in the Senate before the end of the session.