Poll On Missouri’s Historic Tax Credit Program

The State of Missouri is facing a budget crunch so everything is on the table, including tax credits:
“Missouri has 61 tax credit programs that waived $521 million in state income taxes last year. Costs for tax credits have increased five-fold during the past dozen years while state revenues have risen much less.” (AP via Bloomberg)
One credit that may be scaled back is the historic tax credit:
“Gov. Jay Nixon’s tax credit commission recommended Tuesday lowering Missouri’s annual cap on historic tax credits from $140 million to $75 million a year.
The commission said the reduction, which would be permanent, should cover all historic renovation activity under the program. Nearly $100 million in historic tax credits were authorized in 2010, according to the commission’s report.”  (St. Louis Business Journal)

In 2010 “nearly $100 million in historic tax credits were authorized” so lowering the cap would reduced the number of projects getting renovated using the tax credit. Â This is the subject of the poll this week. Â I want to know how you, the readers, feel about the cap being lowered. Â The poll is in the upper right corner of the blog.
– Steve Patterson