Audits forthcoming on 3 Missouri tax credit programs

Missouri Auditor Tom Schweich says he will have reports coming out soon on some of Missouri’s biggest tax credit programs.

Schweich says he hopes to release audits early in the 2014 legislative session on tax credits for developers who build low-income housing, renovate historic buildings and clean up contaminated old business sites.

Missouri waived $144 million of taxes during its last budget year because of the low-income housing credits. Developers redeemed nearly $79 million in historic preservation tax credits and more than $6 million in Brownfield remediation tax credits for work on contaminated sites.

Lawmakers are to consider new limits on some of those tax credit programs during their session that starts Jan. 8.

Schweich said he wants the audits out early enough that lawmakers can use the information.