Missouri Senate to debate "Aerotropolis" tax credit today
An analysis shows Missouri could either gain or lose money depending on how a proposed tax credit is implemented for international trade at the St. Louis airport.
Senators met as a large group Monday night to review the cost-benefit projections prepared by the state Department of Economic Development for the so-called "aerotropolis" tax credit.
The Missouri Senate has postponed debate on the massive tax credit bill which includes $360 million for a cargo hub at Lambert Airport in St. Louis.
Debate was set to begin this morning, but some senators asked President Pro-tem Rob Mayer (R, Dexter) for more time to read the 268-page bill, which he granted.
The legislation contains numerous tax incentives, but also places caps and expiration dates on some frequently used programs.
The bill caps historic preservation tax credits at $80 million per year and low-income housing incentives at $110 million per year.
Kevin Klingerman with Catholic Charities St. Louis told the committee that capping the circuit breaker tax break for renters would hurt the poor and elderly in Missouri.
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