Bill > SB30

This bill modifies several tax credit programs in Missouri across multiple sectors, primarily focusing on agricultural and energy-related industries. The bill repeals and re-enacts provisions for tax credits related to wood energy production, meat processing facility investments, higher ethanol blend sales, biodiesel fuel production and sales, and urban farming. Key provisions include a $5 per ton tax credit for wood energy producers, a 25% tax credit for meat processing facility modernization expenses (up to $75,000 per year), tax credits for selling higher ethanol blends and biodiesel fuels (ranging from 2-5 cents per gallon), and a 50% tax credit for establishing or improving urban farms (up to $5,000 per urban farm). The bill also establishes a specialty agricultural crops loan program for family farmers, allowing loans up to $35,000 with no interest for the first year, and provides tax credits to lenders who waive interest. Most notably, the bill removes previous sunset provisions that would have automatically terminated these programs in 2028, effectively making these tax credit programs permanent. The total annual tax credits for these various programs are capped, with amounts ranging from $2 million to $16 million depending on the specific program.

Agriculture and Natural Resources

https://www.senate.mo.gov/25info/BTS_Web/Bill.aspx?SessionType=R&BillID=232