Instant Karma - Tuesday's the day for tax credit report...Govenor Nixon suggests Capping popular Historic Preservation Tax Credit...

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Gov. Jay Nixon's tax credit commission will release its highly anticipated report on Tuesday at 2 p.m., when it will be posted online and commission co-chairs Chuck Gross and Steve Stogel will speak to reporters.

Nixon suggested capping the popular historic preservation tax credit that is used primarily to redevelop urban areas in St. Louis and Kansas City. Missouri uses more money for historic tax credits than any state in the nation.

But developers have pushed back on that idea, suggesting the tax credit spurs economic development. Tax credits are used to help developers finance projects. The credits are counted against potential state revenue, and are sold on the open market, often for a discount.
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