Senate Committee OKs Tax Credit
By a unanimous vote yesterday, a State Senate committee approved House Bill 1, the economic development package which includes the controversial Distressed Area Land Assemblage Tax Credit. The committee also passed two amendments to address some outstanding concerns with the credit. From the Post-Dispatch:
The revision stipulates that the tax credit cannot assist developers with outstanding fines, bills or taxes to a municipality. As of last month, public records indicate that McKee owed more than $35,000 in fees to the city for providing upkeep at the abandoned tracts, though city officials say they are satisfied the money will be paid.The panel also approved an amendment ensuring that public hearings are held before the approval of any project qualifying for the tax credit. Last week, the House approved an amendment requiring local elected officials to sign off on qualifying projects.
About This Author: Antonio D. French is a writer, political consultant, and newly-elected Democratic Committeeman living in north St. Louis, Missouri. Have your own opinion about this story? Go ahead and leave a comment. But be respectful to others and show you own a pair by actually using your real name. Anonymity is cowardice. And don't forget to subscribe to our feed and get PubDef stories delivered right to your feed reader or email inbox.
So much for the little sticky notes reminding someone to watch for this bill on its way back, and the ‘good intentions’ of voting correctly on it, when that time comes.
Procrastination and green bananas…not for the ‘later than you think’ crowd.
makla