'No. More. Giveaways,' Missouri governor says about tax credits for low income housing

A tax credit program in Missouri for low income housing — one that’s popular with developers and also the subject of frequent criticism from Missouri politicians — is in peril.

The Missouri Housing Development Commission on Friday voted not to allocate $140 million in funding for the Missouri Low Income Housing Tax Credit Program. The tax credit offsets a percentage of tax liabilities for investors in low-income housing projects.

Friday’s decision was hailed by politicians, including Gov. Eric Greitens, as a way to save money on what’s often criticized as an inefficient program. Greitens under state law has a seat on the housing development commission.

“We zeroed out this failing program, and saved tens of millions of dollars,” Greitens said in a statement. “No. More. Giveaways.”

Read more here: http://www.kansascity.com/news/politics-government/article185257478.html