The Missouri General Assembly is poised to send to Governor Jay Nixon legislation that repeals the tax credit now available to lower-income renters who are elderly or disabled. But the governor has decided he doesn’t like the bill.
SB 350, sponsored by Senator Tom Dempsey (R-St. Charles), would prohibit the issuance of the renter’s portion of the senior citizens property tax credit. Monies saved by the repeal of the credit would be deposited in a new Missouri Senior Services Protection Fund, which would provide services to the elderly and disabled.
Governor Nixon has pushed for comprehensive reform of Missouri’s tax credits, but is now uncomfortable with singling out just one credit for repeal. Here’s his statement:
“As Governor, I have focused on creating jobs, balancing the budget, and keeping Missouri’s economy moving forward. That is why I have called on the general assembly to send me a comprehensive package of tax credit reforms, this session, to ensure all of these programs provide a strong return for taxpayers, our communities and our economy. Effective tax credit reform must also be broad-based and balanced. A partial reform that eliminates a single program, such as the renters’ portion of the Property Tax Credit, represents a flawed approach that I do not support. Both the House and Senate are considering broader tax credit reform legislation, and I urge them to continue working to get a comprehensive and balanced reform bill to my desk.”