Governor calls for update to review of state tax credit programs

(Missouri Digital News) -- Gov. Jay Nixon is reassembling a commission to once again look over Missouri's 61 tax credit programs.

Nixon originally tasked the Missouri Tax Credit Review Commission with a similar review in 2010, which resulted in a report recommending the elimination of some of the state's tax credits.

In a statement issued by his office, Nixon called upon the commission to update its original report due to "record redemptions" during the 2012 fiscal year. Nixon also said Missouri redeemed $629.3 million in tax credits in 2012, an "all-time record" and up from $522.9 million in 2010. The commission is set to meet at the State Capitol on Sept. 12, the same day legislators return for their 2012 veto session.

During the last legislative session state legislators said Missouri is expected to redeem $685 million in tax credits.

Efforts to scale back tax credits to businesses, developers and special interests have been stalled by a dispute between Missouri's House and Senate. While various Senate members have called for cuts in tax credits, a majority of the House has strongly supported tax credits for economic development.

Nixon said the commission is comprised of 27 members, including business officials and legislators. It is co-chaired by former state Senate Appropriations Chairman Sen. Chuck Gross, R-St. Charles. Gross is now the director of administration for St. Charles County.