Senator Matt Bartle (R-8th District) prefiled Senate Bill 735 December 1, 2007.  This bill is similar to the threat posed by last session's Senate Bill 86, which was introduced by Senator Brad Lager, (R-12th District). Senate Bill 735 requires a formal review of all tax credits and provides for a gradual sunset of all such programs, unless the general assembly would act to reauthorize them.  As development professionals engaged in historic preservation throughout the state are already aware, a sunset of vital tax credit programs will make key renovation projects unviable.  The accessibility of tools like Historic Tax Credits is often the difference between challenging renovations that get done and those that do not.  Consider that when tax credit programs in this state were eliminated in 1986, historic renovations dropped by 96%!  Without readily available Historic Tax Credits, renovations that create jobs, new businesses, complement Main Street initiatives and spur other development will not proceed.  This will adversely affect the local economies not only in cities but in small towns all over the state, while adding to the state's budget problems, not improving them.  Small towns, big cities and communities in between will lose irreplaceable historic architecture and the opportunity to reuse it as a key to their revitalization. 

For more information, please contact Christian Saller at the Historic Tax Credit Coalition at (314) 621-6115 or at christian.saller@savehistorictaxcredit.org         

 Read the text of Senate Bill 735 here:

http://www.senate.mo.gov/08info/pdf-bill/intro/sb735.pdf