The Missouri Tax Credit Review Commission sent its final report on Missouri’s tax credit programs to Governor Jay Nixon, recommending that the state historic tax credit program’s annual cap be reduced from $140 million to $75 million per year beginning in 2011. In addition, the commission recommends that developers be prohibited from using the HTCs in conjunction with the state low-income housing tax credit or neighborhood preservation tax credits. Finally, the report recommends that the credits only be provided for expenses that have been paid, rather than incurred. The commission’s recommendations will now be considered by Governor Nixon and the state’s General Assembly. Read More…