Senate approves measure capping historic preservation tax credits
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Senate approves measure capping historic preservation tax credits

Date: May 16, 2012
By: Matt Evans
State Capitol Bureau
Links: HB 1865

Intro: 
One of the issues that killed Missouri's last special session made an appearance Wednesday with only a couple days left in the session. And it essentially killed a bill that was in response to the Mamtek failure.
RunTime:  0:44
OutCue:  SOC

Wrap: By an overwhelming vote of 28-3, the Missouri Senate backed a bill that would cut the amount of tax credits available to historic buildings nearly in half.

This-tacked on the the original bill that put in safeguards to prevent future economic development failures-is a non-starter in the House.

The House Speaker called it "unacceptable" and the bill's original sponsor Republican Representative Jay Barnes says he won't touch it now.

Actuality:  BARNES.WAV
Run Time:  00:04
Description: "I'm not picking up a bill that has become unconstitutional."

Barnes' introduced this bill originally as a response to Mamtek - the failed sweetener plant that defaulted on nearly $40 million in city issued-bonds from the small town of Moberly.

Reporting from the state Capitol, I'm Matt Evans. Newsradio 1120 KMOX.

Intro: 
The Missouri Senate voted overwhelmingly to cut the amount of tax credits available to historic buildings nearly in half. An issue that all but killed last year's special session. And now it's taking down another piece of legislation this year.
RunTime:  0:54
OutCue:  SOC

Wrap: Cutting the amount of historic preservation tax credits has been called "unacceptable" by House leadership.

The language is tacked on to a bill that originally was introduced in response to Mamtek - the failed sweetener plant that defaulted on nearly $40 million in city-issued bonds from the town of Moberly.

The original bill would put in safeguards to try to prevent future economic development failures like that.

The bill's sponsor Republican Representative Jay Barnes says he won't pick back up bill now, but there's still a chance that some of the safeguards will still be put in place.

Actuality:  BARNES02.WAV
Run Time:  00:13
Description: "I think if the Governor is interested in protecting Missouri taxpayers he will adopt on his own the provisions which he can."

The Senate passed the bill by a vote of 28-3.

Reporting from the state Capitol, I'm Matt Evans. Newsradio 1120 KMOX.


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