The Missouri State Senate recently passed S.B. 112, a measure which would make changes to the State’s new markets tax credit (NMTC) program. More specifically, S.B. 112 would extend the NMTC program for six years and would increase the credit percentage from 39 percent to 58 percent of qualified equity investments. What’s more, the measure would reduce the annual state NMTC cap from a $25 million to a $15 million credit cap per fiscal year. S.B. 112 is sponsored by Senators Scott Rupp (R-Wentzville) and Ron Richard (R-Joplin) and will now move to the Missouri House of Representatives for consideration.