Missouri Senate OKs Caps on Development Tax Credits

The Missouri Senate has approved caps on two popular development tax credits in Kansas City.

Senate Bill 120 heads to the Missouri House after a Friday morning vote whereby senators approved a $50 million cap on historic preservation tax credits and a $55 million cap on low-income housing tax credits.

The cap on the historic tax credit drastically reduces the current ceiling of $140 million a year and goes well beyond the $90 million limit put forth late last year by the Missouri Tax Credit Review Commission.

Read more on Kansas City Business Journal.

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