Bill > SB466

This bill makes several modifications to agricultural tax credits and related provisions in Missouri, targeting various sectors of the agricultural industry. The bill repeals and replaces multiple existing sections of Missouri law, introducing new provisions for tax credits related to wood energy production, meat processing facilities, alternative fuel production, and agricultural loans. Key changes include establishing a tax credit for wood energy producers of five dollars per ton of processed material, creating a Meat Processing Facility Investment Tax Credit that allows businesses to claim credits for modernization and expansion, and introducing tax credits for retailers and distributors selling higher ethanol blends and biodiesel blends. The bill also establishes a specialty agricultural crops loan program for family farmers, providing financial support for small-scale farmers to purchase farming resources. Additionally, the bill adds provisions for tax credits for lenders who waive interest on qualifying agricultural loans and creates a new tax credit for railroad infrastructure investments. The modifications generally aim to support agricultural businesses, encourage sustainable energy production, and provide financial incentives for agricultural development in Missouri. Some previous sunset provisions have been removed, which may indicate a long-term commitment to these agricultural support programs.

Agriculture and Natural Resources, Budget and Finance, Government Affairs

https://www.senate.mo.gov/25info/BTS_Web/Bill.aspx?SessionType=R&BillID=23143