Missouri Commission Approves Low-Income Housing Tax Credits

Photo by Nicole Lunger
Nicole Lunger/Missouri Business Alert

The Missouri Housing Development Commission has approved $137 million in state tax credits to build affordable rental housing throughout the state. The 29 projects had been put on hold in December at the request of Gov. Jay Nixon, who sought the delay as part of a deal he made with five Republican senators.

The senators have been trying for years to rein in the cost of the low-income housing tax credit program, which has been criticized as an inefficient use of public money. The senators had hoped that freezing this year’s projects would give them leverage to negotiate broader reforms, which they say have been blocked by developers and financiers.

But that impasse remains. The Legislature left for its spring break Thursday with no agreement near on tax credit reform.

Read more from the St. Louis Post-Dispatch

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