Bill > HB1317

This bill modifies several provisions related to agricultural tax credits in Missouri, covering a range of programs and incentives for agricultural producers, meat processors, biodiesel producers, and urban farmers. The bill eliminates previously established sunset dates for various agricultural tax credit programs, effectively making them permanent. Key provisions include a tax credit for wood energy producers at five dollars per ton of processed material, a tax credit for meat processing facility modernization and expansion at 25% of qualifying expenses (capped at $75,000 per year), tax credits for selling higher ethanol blends and biodiesel blends (ranging from two to five cents per gallon), and a tax credit for Missouri biodiesel producers of two cents per gallon. Additionally, the bill establishes a new tax credit program for urban farms, allowing taxpayers to claim a credit equal to 50% of eligible expenses for establishing or improving urban agricultural plots, with an annual cap of $5,000 per urban farm and a total annual authorization of $200,000. The bill also creates a specialty agricultural crops loan program for family farmers, with provisions for loan approvals, interest waivers, and associated tax credits for lenders. Throughout the bill, there are detailed provisions for application processes, credit limitations, and administrative rules for implementing these agricultural tax incentive programs.

Agriculture and Natural Resources, Government Affairs

https://house.mo.gov/Bill.aspx?bill=HB1317&year=2025&code=R