Missouri

The Missouri Housing Development Commission (MHDC) has released a draft version of its 2013 Qualified Allocation Plan.

HUD’s Office of Policy Research & Development has published the newest report in its series of ‘Best Practices’ examples, based on federal, state and local strategies that increase affordable housing opportunities, apply sustainable features and practices, and increase access to public transportation.

Missouri State Senate Bill (SB 531) modifies the low-income housing tax credit program and the historic preservation tax credit program by requiring the Department of Revenue to apply any increase in revenue generated from capping these tax credit programs to a decrease in the personal income tax rate to begin on January 1, 2016.

The IRS issued Notice 2012-3 to provide guidance on current refunding issues for outstanding prior bond issues that qualify for tax-exempt bond financing under disaster relief bond programs including Gulf Opportunity Zone Bonds (GO Zone Bonds), qualified Midwestern disaster area bonds and Hurricane Ike disaster area bonds under the Heartland Disaster Act.

HUD’s Department of Policy Research & Development has published a Comprehensive Housing Market Analysis for Kansas City, Missouri-Kansas. The report provides a summary of the changes in the economic, demographic, and housing inventory characteristics of each specific housing market area, as well as offer projections for a three-year forecast period.

The Missouri House of Representatives approved an economic development bill that includes tax credits towards a China trade hub at Lambert-St. Louis International Airport, a corporate income tax reduction from 6.25 percent to 5.5 percent starting in January 2012, and changes to the historic and low-incoming housing tax programs.

The Missouri House of Representatives approved an economic development bill that includes tax credits towards a China trade hub at Lambert-St. Louis International Airport, a corporate income tax reduction from 6.25 percent to 5.5 percent starting in January 2012, and changes to the historic and low-incoming housing tax programs.

U.S. Representative Bruce Braley (D-IA) last week introduced the Rebuilding Communities Act (H.R. 2901), which would extend a provision enacted in 2008 that increased the historic tax credit to 26 percent and the rehabilitation tax credit to 13 percent in Midwestern communities affected by natural disasters.

Missouri’s state legislature recently advanced a bill that modifies provisions of existing tax credit programs in a manner consistent with the recommendations of the Tax Credit Review Commission and establishes new tax incentive programs.

Leaders of the Missouri State House and Senate reached an agreement this week concerning a $1.5 billion economic development and tax credit reform package and Governor Jay Nixon said he will call the legislature back for a special session later this year to consider the package.

Leaders of the Missouri State House and Senate reached an agreement this week concerning a $1.5 billion economic development and tax credit reform package and Governor Jay Nixon said he will call the legislature back for a special session later this year to consider the package.

On June 15 Senators Richard Shelby (R-Ala.) has introduced legislation to provide relief to states that suffered damage by the series of tornadoes and flooding that have struck the south east.