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Missouri Senate votes to pare back historic tax credits

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Tax credits developers use to breathe new life into old buildings would be pared back in a Missouri Senate bill approved 24-8 on Thursday.

The St. Louis Post-Dispatch reports the measure would reduce the annual cap on credits to $90 million, down from $140 million.

But it would inject an additional $30 million to the program if the cap is met and the projects are tailored for high-poverty areas.

 

Read more from St. Louis Post-Dispatch.

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