Historical Preservation Tax Credit Downsizes by $65 million Dollars Permanently

Intro:	Republican Senator Matt Bartle says a decline in the Missouri educational system is imminent if the Historical Tax Credit is not reduced. Becky May has more from Jefferson City.
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Wrap:The Governer's Tax Credit Review Commission voted on Wednesday to recommend a decrease in this cap by nearly one half.

Republican Senator Matt Bartle, who proposed this change, says he thinks there are more practical uses for this money in Missouri.

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Description: "We're in a mode right now in the state of Missouri, where we're going to have to fire teachers, increase class sizes, close schools due to our budget crisis. This is no time to be giving tax credits to refurb old buildings."

The Historic Tax Credit is currently $140 million dollars in Missouri.

Bartle opposed the first cap during the meeting and says that Missouri will still have the highest amount of credits even with $75 million dollars.

Reporting from the state Capitol I'm Becky May.

Intro:	Buildings in St. Louis and Kansas City might have to put their redevelopment plans on hold after Wednesday's Tax Credit Review Commission meeting. Becky May has more from Jefferson City.
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Wrap: Missouri Tax Credit Review Commission recommended the Historic Preservation program to cut the cap by nearly half.

Although the Commission supported this reduction, members of the Missouri Preservation Commission were not pleased.

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Description: "That Commission did not want to vote to reduce the preservation tax at all. So I was very pleased that the overall Commission did vote to reduce the cap."

Kansas City area Senator Matt Bartle says even with the reduced cap, Missouri is still has the highest cap nationwide.

Reporting from the state Capitol I'm Becky May.

Intro:	Missouri Growth Association reported 43,000 jobs involved in the Historic Tax Credit Program that would be affected by the Tax Credit cap reduction. Becky May has more from Jefferson City.
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Wrap: Jerry Schlicter, member of the Missouri Coalition for Historic Preservation says the cut of nearly half of the budget for the Historic Tax Credit will affect many American workers.

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Description: "It's the single largest jobs program in the history of the state. 43,000 jobs documented by an independent study but a Missouri Growth Association."

However, Republican Senator Matt Bartle says this money is taking away from more important things like education.

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Description: "We're in a mode right now in the state of Missouri, where we're going to have to fire teachers, increase class sizes, close schools due to our budget crisis. This is no time to be giving tax credits to refurb old buildings."

Reporting from the state Capitol I'm Becky May.