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Key Votes

SB 8 - Tax Credit Amendments - Key Vote

Missouri Key Votes

Mike Bernskoetter voted Yea (Passage With Amendment) on this legislation.

Read recent statements Mike Bernskoetter made in this general time period.

Stages

Family

Issues

Note

NOTE: THIS BILL WAS VOTED ON DURING A SPECIAL SESSION OF THE LEGISLATURE

Stage Details

Legislation - Bill Passed (House) (98-48) - (Key vote)

Title: Tax Credit Amendments

Vote Smart's Synopsis:

Vote to pass a bill that amends state tax credit programs.

Highlights:

-Establishes the Mo Jobs Training Program, and authorizes companies who create new jobs that require training to divert withholding taxes from new or retained jobs to pay training costs (Sec. A).

-Establishes a tax credit of 100 percent of reasonable demolition costs for land acquisitions in redevelopment areas that meet certain criteria including, but not limited to, the following (Sec. A):
     -The redevelopment area contains at least 300 acres of real property;
     -The redevelopment area includes at least 1 million square feet of commercial building space; and
     -The redevelopment area is located within a low-income community.

-Increases the limit on the annual amount of tax credits for land acquisitions in redevelopment areas from $20 million to $30 million (Sec. A).

-Exempts new and expanding data centers from state and local sales taxes (Sec. A).

-Authorizes owners of commercial property destroyed by a natural disaster to be exempt from the current year's property taxes (Sec. A).

-Prohibits the Department of Economic Development from issuing more than $80 million in historic preservation tax credits beginning in fiscal year 2012, whereas existing law limited the amount of historic preservation tax credits to $140 million (Sec. A).

Note:

NOTE: THIS BILL WAS VOTED ON DURING A SPECIAL SESSION OF THE LEGISLATURE

Legislation - Bill Passed (Senate) (26-8) - (Key vote)

Title: Tax Credit Amendments

Vote Smart's Synopsis:

Vote to pass a bill that amends the Missouri tax code to reduce the number and amounts of available tax credits.

Highlights:
-Specifies that certain tax credits will cease issuance on August 28, 2015. These include but are not limited to a tax credit for (Sec. A):
    -Surviving spouses of deceased peace officers who were killed in the line of duty; -Persons who have adopted special needs children; -Businesses who build low-income housing; -Businesses or other associations which create and run youth-centered programs focusing on school attendance and graduation; and -Taxpayers who contribute to shelters for victims of domestic violence.
-Specifies that this act does not impair an individual's ability to redeem tax credits set to expire if the person takes action before the expiration of such a credit (Sec. A). -Specifies that tax credits issued by the government will not exceed $10 million in any fiscal year (Sec. A). -Establishes a $110 million cap on tax credit authorizations for projects not financed through tax-exempt bond issuance, to be lowered each subsequent year (Sec. A). -Specifies that any agency may recapture tax credits if a taxpayer is found to be in noncompliance with the program (Sec. A). -Establishes an air export tax credit for companies shipping cargo on an outbound flight, and specifies that these will cease issuance on August 28, 2011 (Sec. A).
Legislation - Introduced (Senate) -

Title: Tax Credit Amendments

Sponsors

  • Robert N. 'Rob' Mayer (MO - R) (Out Of Office)
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