Missouri House backs new tax incentives for businesses

Missouri House backs new tax incentives for businesses

The Missouri House has endorsed the creation of several new tax breaks intended to lure high-tech businesses and foreign trade to the state.

House members gave initial approval Wednesday to a bill authorizing $60 million of tax credits for international exporters over the next eight years. They also gave initial approval to bills creating tax credits for investors in high-tech startup businesses and authorizing state and local sales tax breaks for computer data centers.

The votes came a week after the Senate passed a broader overhaul of Missouri's tax credits. The Senate measure would authorize those same new incentives while also reducing the tax credits available for renovating historic buildings and developing low-income housing.

House leaders plan to consider reductions to tax credits separately at a later time.