Missouri Senate votes to cap low-income housing tax credits
JEFFERSON CITY, Mo. (AP) — Missouri senators have voted to cap state tax credits for low-income housing.
Senators voted 31-0 Friday to send the measure to the House.
State and federal tax credits subsidize affordable housing in Missouri. But critics, including former Gov. Eric Greitens, have said the tax credits are inefficient.
No state tax credits have been issued in Missouri since Greitens and his supporters voted against them in 2017, although federal tax credits have been available.
New Gov. Mike Parson has said state tax credits for low-income housing won’t be issued until lawmakers revamp the program.
Sen. Dan Hegeman’s bill would limit state tax credits to 72.5 percent of what’s available in federal credits.