HERMANN MISSOURI OKTOBERFEST 2010

HERMANN MISSOURI OKTOBERFEST 2010
HERMANN MISSOURI OKTOBERFEST 2010 - CLICK ON PHOTO FOR THIS YEARS SCHEDULE OF EVENTS

Hermann Missouri 175 Year Anniversary 1836-2011

Hermann Missouri 175 Year Anniversary 1836-2011
Hermann Missouri 175 Year Anniversary 1836-2011

Search This Blog

Breaking News Videos (mouse-over click-to-open)

Wall Street Protest Live Stream

News Archive

Weather Radar - Interactive - Zoom-in to Your Location

Donate To Keep This Site Alive

Wednesday, September 14, 2011

Missouri Tax Credits Killed By Senate: Complete List

_________________________________________________________________________

Tax credits on chopping block (AUDIO)

by Bob Priddy
September 14, 2011
missourinet.com
__________________________________________________________________________

The state senate has voted to kill 25 tax credit programs in the next seven years.  Some programs will be reduced in steps before they disappear.
Two of the biggest credits marked for eventual execution are for low income housing construction, to be cut by $40 million in three years, and historic preservation credits, which will be cut by $60 million this year.   Both programs are to disappear in 20-18.
One of the strong advocates for the cuts is Maryville Senator Brad Lager, who says Missouri is on the hook for $1.3 billion of low income housing tax credit redemptions in the next ten years.
Lager says the state is giving away millions of dollars for low income housing and historic preservation at a time when it can’t fund education. He says historic preservation and low income housing tax credits give the state only ten to 20 cents in return for each dollar the state invests in those projects.
 Lager says Kansas is doing it right…and Missouri is not.
                                   Sen. Lager :33 mp3
  –most of which, he says, don’t generate long-term jobs.
The tax credit changes are part of the economic development bill sent to the House. That’s the one that provides tax credits making the first step to establish a China trade hub at Lambert-St. Louis airport. The proposal could be taken up by the house in the middle of next week.
Here are the tax credit programs affected and the dates they will disappear:

As soon as the bill goes into effect:
1) The Neighborhood Preservation Tax Credit;
2) The Brownfield Jobs and Investment Tax Credit;
3) The Small Business Incubator Tax Credit;
4) The MDFB Bond Guarantee Tax Credit; and
5) The MDFB Infrastructure Development Contribution Tax Credit

The authorization of tax credits under the following programs will be prohibited after August 28, 2014:
1) The Family Farm Breeding Livestock Tax Credit;
2) The Agricultural Product Utilization Tax Credit;
3) The New Generation Cooperative Tax Credit;
4) The Qualified Beef Tax Credit; and
5) The Wine and Grape Producer Tax Credit.

The authorization of tax credits under the following programs will be prohibited after August 28, 2015:
1) The Domestic Violence Shelter Tax Credit;
2) The Maternity Home Tax Credit;
3) The Pregnancy Resource Center Tax Credit;
4) The Shared Care Tax Credit;
5) The Youth Opportunities Tax Credit;
6) The Disabled Access Tax Credit;
7) The Family Development Account Tax Credit;
8) The Residential Treatment Agency Tax Credit;
9) The Food Pantry Tax Credit;
10) The Neighborhood Assistance Program;
11) The Public Safety Officer Surviving Spouse Tax Credit;
12) The Affordable Housing Tax Credit;
13) The Special Needs Adoption Tax Credit;
14) The Children in Crisis Tax Credit; and
15) The Residential Dwelling Access Tax Credit.

The authorization of tax credits under the following programs will be prohibited after August 28, 2018:
1) The Low-Income Housing Tax Credit;
2) The Historic Preservation Tax Credit; and
3) The Brownfield Remediation Tax Credit.

Where, under current law, a tax credit was subject to the sunset act, the sunset provision is modified to sunset such program on the date provided above.
The limitations on tax credit authorizations provided in the act will not impair an administering agencies ability to issue tax credits that were authorized prior to the date on which authorizations are prohibited, nor will they affect a taxpayer’s ability to redeem such tax credits.
REPEAL OF CERTAIN TAX CREDIT PROGRAMS

This act repeals the following tax credit programs:
1) The Charcoal Producers Tax Credit;
2) The Self-Employed Health Insurance Tax Credit; and
3) The Health Care Access Fund Tax Credit.

(The list is supplied by the Senate Information Office)

A complete summary of the bill as sent to the House can be found at: HERE


___________________________________________ _____________________________________ . .

Donate To Keep This Site Alive
______________________________________________________ ___________________________ . .

VIDEO: MISSOURI THE BEAUTIFUL Take a patriotic tour of the Show Me State's natural wonders . . ==========================================================

. Important Note: FAIR USE NOTICE: This blog may contain copyrighted (©) material the use of which has not always been specifically authorized by the copyright owner. Such material is made available to advance understanding of ecological, political, human rights, economic, democracy, scientific, moral, ethical, and social justice issues, etc. It is believed that this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, this material is distributed without profit to those who have expressed a prior general interest in receiving similar information for research and educational purposes. "Copyright Disclaimer Under Section 107 of the Copyright Act 1976, allowance is made for "fair use" for purposes such as criticism, comment, news reporting, teaching, scholarship, and research. Fair use is a use permitted by copyright statute that might otherwise be infringing. Non-profit, educational or personal use tips the balance in favor of fair use." . ________________________________________________________________________

No comments:

Post a Comment

Area Gas Prices Hermann and New Haven

HERMANN MISSOURI WEATHER 65041

Enter Your Locaton (below map) for Interactive Current Radar Map

Donate To Keep This Site Alive

NEWS

World News

Business News

...........

Top Ten Viewed Stories / Last 7 Days

Donate To Keep This Site Alive

.........

Hermann MO News TOP 10 Stories/ Last 30 Days

Donate To Keep This Site Alive

Top 10 Stories - All-Time (Oct. 14,2010 Inception)

Donate To Keep This Site Alive

Hermann Missouri Videos

Loading...

Hermann MO Videos

Loading...

Hermann Oktoberfest

Loading...