Low Income Tax Credit Cut by Missouri Housing Commission
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Low Income Tax Credit Cut by Missouri Housing Commission

Date: November 17, 2017
By: Jack Morrisroe
State Capitol Bureau
Links: 1088, 1093, 1094

Intro: 
A Missouri commission moved to withhold tax credits for low-income housing
RunTime: 0:49
OutCue: SOC

Wrap: Missouri tax credits are given to companies to build low-income housing, and those companies can sell the tax credits to finance their development. A report by Missouri's state auditor in 2014 found that only forty-two cents of every tax credit dollar goes to low-income housing.

Governor Greitens voted as a commission member to end the tax credits. He said in a statement that quote, "If you spend a hard-earned dollar, you expect a dollar of value.

Lieutenant Governor Mike Parson voted against ending the tax credits, asking commission members to let the legislature decide their fate.

The plan needs time for public comment and a final vote to end the state's tax credit.

The Missouri Housing Development Commission will continue to accept the federal tax credit that Missouri's program matched.

Jack Morrisroe, Newsradio 1120, KMOX

Intro: 
Democrats say ending Missouri's Low Income Housing Tax Credit will harm poor families.
RunTime: 0:47
OutCue: SOC

Wrap: St. Louis City Senator Jamilah Nasheed tweeted that she promises to fight the appointment of the commissioner who proposed the tax credit cut.

Nasheed said in a statement that quote, "Seniors, veterans, people with disabilities and the working poor depend on these tax credits to provide the housing they need to live with dignity."

Senate Minority Leader Gina Walsh said in a statement that quote, "Instead of improving a program, [Governor Greitens and Attorney General Hawley] just throw it away."

A report by Missouri State Auditor Nicole Galloway said the tax credit program  has an average cost of one-hundred and fifty-two million dollars each year.

Greitens said in a statement quote, "We zeroed out this failing program, and saved tens of millions of dollars."

Jack Morrisroe, Newsradio 1120, KMOX

Intro: 
TEASER
RunTime: 0:06
OutCue: SOC

Wrap: I'm Jack Morrisroe with details on a plan to end Missouri tax credits for low-income housing.