Missouri

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.

The IRS has issued an administrative notice (Notice 2011-47) that suspends certain requirements under section 42 of the Internal Revenue Code for certain low-income housing credit properties in the United States as a result of the devastation caused by severe storms, tornadoes, and flooding in Missouri beginning on April 19, 2011.

Missouri State Senator Will Kraus (D-Jackson) recently introduced two senate bills relating to the state’s historic and low-income housing tax credit programs.

NH&RA Historic Preservation Development Council Member MacRostie Historic Advisors has posted an excellent state historic tax credit update on its website.

Missouri State Senator Jason Crowell (R-Cape Girardeau) recently introduced a series of bills related to the state’s tax credit policies & regulation.