MO lawmakers renew charitable tax credits
The legislation sent Wednesday to Gov. Jay Nixon would reinstate tax credits for food pantry donations that expired in 2011 and for donations to pregnancy resource centers and child advocacy centers that expired in 2012.
It also renews tax credits for surviving spouses of deceased public safety officers and for people who improve their homes to be accessible to the disabled.
But the bill halts state tax credits for people who adopt children from other countries or other states. It keeps adoption tax credits in place only for Missouri children with "special needs."
MO Senate OKs sales tax bump for transportation
The tax would need approval by Missouri voters and would automatically go to another statewide vote after 10 years. It's expected to generate nearly $8 billion over a decade, with 10 percent dedicated to local transportation needs.
Senators gave the measure first-round approval Wednesday.
The legislation requires the Highways and Transportation Commission to develop a list of projects before the tax goes on the ballot. The commission would prepare an annual status report for the governor and the Legislature.
When the increased sales tax is in effect, Missouri's gas tax would be frozen and existing roads could not be become toll roads.
Gov. Nixon opposes plan to create Missouri sales tax
Nixon said Thursday that the proposed one-half cent sales tax hike would be especially harmful to seniors and veterans on fixed incomes and also could also hurt working-class parents trying to provide for their children.
The bill given initial approval Wednesday night by the Republican-led Senate also includes a three-quarters of a percentage point decrease in the state income tax for individuals and businesses. That income tax cut would more than offset the sales tax hike, resulting in an estimated $450 million loss in state revenues once both tax changes are fully phased in.
The legislation needs another Senate vote before it can move to the House.
Missouri see higher revenues this fiscal year
Figures released Monday by the state Office of Administration show Missouri's finances have improved mainly because of a decline in tax refunds and an increase in individual income tax collections.
Through February, net general revenues were up 8.7 percent compared with the same period a year earlier. The total includes a 5.5 percent increase in individual income taxes and a 16.5 percent decline in tax refunds. Sales tax collections have remained relatively flat for the fiscal year.
Missouri's 2013 budget year began last July and runs through the end of this June.
Tax collections in February alone were virtually unchanged from February 2012. But for the entire fiscal year, collections were up $394 million.
Missouri bill seeks taxes from out-of-state retailers
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