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Committee hears bill to standardize and cap state tax credits; film advocacy warns of harm to new credit
Summary
Representative Owens presented HB 1007, a 169‑page restructuring of numerous state tax credits to add administration, caps, sunsets and appropriations. The Missouri Motion Media Association opposed annual appropriations for the new film tax credit, arguing it would stifle a recently created incentive.
Representative Owens introduced House Bill 1,007, a statutory rewrite aimed at standardizing the administration, caps and sunset provisions for nearly 59 distinct tax credits.
Representative Richard Owens, sponsor and member of the committee, said the bill focuses on four main reforms: assign administering agencies for credits currently lacking oversight; standardize issuance and redemption periods (most to six years); impose caps on credits that currently carry no limits; and remove expired credits from statute. He described the measure as structural reform rather than an immediate reduction of credit caps. “The structure does not reduce…
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