Economic development bill passed

Posted to Politics Watch by Will Guldin at 9:54 p.m., May 15, 2009

The Missouri Legislature passed the economic development bill during its last day in session today. The bill, which was first proposed in the House and sponsored by Rep. Tim Flook, R-Liberty, has been held up in the Senate since early February. Passing the legislation has been one of Gov. Nixon's top priorities, and once signed it will give various tax incentives to small businesses.

The final version of the bill would cap the controversial historic preservation tax credits at $140 million and would raise the spending cap on the Missouri Quality Jobs Program from $60 million to $80 million. Flook said the legislation would help create jobs in Missouri.

"We want to create these jobs and get Missouri in the right direction," Flook said during debate on the House floor. "If we don't get those jobs going, gentlemen, I think we all agree nothing else is going to work."