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NAP/YOP Tax Credit Bills Advance
House and Senate bills addressing the Neighborhood Assistance (NAP) and Youth Opportunity (YOP) tax credit programs advanced this week. We support these bills and hope to increase the state tax credit available for donations to these programs from 50% to 70% to make these credits more competitive with other benevolent tax credits. On the House side, the NAP and YOP tax credit language advanced out of committee attached to HB 1973, sponsored by Rep. Alex Riley (R-Springfield). HB 1973 amends the tax credit program that benefits child advocacy organizations. It passed out of the Ways and Means committee by a vote of 8-0 and is expected to reach the House floor soon. Look for an Action Alert in support of this bill soon.
Circuit Breaker Bills Advance
House and Senate bills increasing the tax credit available to seniors for state property taxes paid on rental properties and homesteads also advanced this week. These credits have been the target of cuts in years past. Increases in home prices, property tax assessments, and rental costs, however, are helping to expose the need for this program. HB 1428, sponsored by Rep. Mike McGirl (R-Pitosi), and SB 822, sponsored by Sen. Tracy McCreery (D-St. Louis) would increase the upper earned income level for people to qualify as well as increase the tax credit available to seniors qualifying for the program. Both bills were voted out of committee, and we hope they will get more traction as session unfolds.
There are two more weeks before the legislative spring break, followed by Easter. Things begin to heat up at that point as the end of session looms.
Hold on to your seat.
Deacon Tyler
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