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Committee hears divided testimony on bill exempting St. Louis ‘opportunity zones’ from earnings tax
Summary
Representative Crist presented House Bill 499 to carve earnings-tax exemptions for federally designated opportunity zones mapped to ‘distressed’ census tracts in St. Louis; city budget director warned of a possible $15–$22 million recurring revenue loss and additional refund liability.
State Rep. Crist opened public testimony on House Bill 499, a bill that would create targeted earnings-tax relief to encourage investment and job creation in portions of the city of St. Louis.
Representative Mark Crist, state representative and sponsor of House Bill 499, told the committee the measure “provides targeted earnings tax relief to encourage investment and job creation in the city of St. Louis.” He said the bill maps…
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