Missouri state senators held a panel Tuesday on a plan to revive tax credits for low-income housing more than a year after the program lost state funding.
A bill sponsored by Sen. Dan Hegeman, R-Cosby, would cap annual state funding for the program at $70 million. Hegeman said keeping state credits at about half of the federal tax credits Missouri receives for low-income housing will free up money for other state programs.
State funds for the program were cut off late 2017 by former Gov. Eric Greitens. Gov. Mike Parson has been a vocal supporter of restoring funding for the program, but he did not offer specifics Tuesday.
The Missouri Association of Realtors called the bill a “good start,” but added that the $70 million cap is too low.
Read more: St. Louis Post-Dispatch