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Senate gives final approval to tax credit program

Missouri lawmakers are trying to crack down on fraud in the state's tax credit programs. Monica Walter has the story from the State Capitol.

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The senate gave final approval Tuesday to a bill that's described as a tax credit accountability act. The bill requires businesses applying for tax credits to give the state more information.

Other provisions of the bill require the state to regularly audit the tax credit programs to make sure they're worth the money.

Saint Louis County Senator Mike Gibbons is the bill's sponsor.

The bill follows revelations of massive fraud in the state's rebuilding communities tax credit program. From the State Capitol, I'm Monica Walter.

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Date: 02-24-04

By: Monica Walter

State Capital Bureau

The Missouri Senate gave final approval to a bill designed to determine greater accountability for tax programs. Monica Walter has the story from the State Capitol.

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The Missouri Senate unanimously voted to enact a new tax credit program structured to reduce fraud.

The bill comes in the wake of a three hundred thousand dollar scandal in a Missouri tax credit program designed to help rebuild communities.

Saint Louis Senator Mike Gibbons is the bill's sponsor. He says the bill sets new requirements for applicants and auditors.

The bill will now move into the House of Representatives for approval. From the State Capitol, I'm Monica Walter.