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Jan. 30, 2018JEFFERSON CITY, Mo. | By: Coffey
A Missouri bill making its way through the Senate this year is designed to modify the Historic Preservation Tax Credit and create the Capitol Complex and Public Building Preservation tax credits.
The Historic Preservation Tax Credit was originally designed to encourage rehabilitation of historic structures in Missouri. 12th District State Senator Dan Hegeman, a Republican from Cosby, is sponsoring Senate Bill 590 which he says would save money that could be used elsewhere in the budget. Hegeman is calling to reduce the cap on the credit to $50 million and says residential properties would be dropped from eligible participants.
Hegeman says the bill has a long way to go and so far has only been heard by a Missouri Senate committee.
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