Bill > HB1632

This bill modifies tax credits for biodiesel blend fuel sellers by establishing a new program that provides tax incentives for retail dealers and distributors selling biodiesel blends in Missouri. The bill defines key terms like "biodiesel blend" (a diesel fuel mixture containing 5-20% biodiesel) and establishes tax credit rates of two cents per gallon for blends between 5-10% and five cents per gallon for blends between 10-20%. Tax credits are available for tax years beginning on or after January 1, 2023, and can be applied against state income tax liability, with excess credits being refundable. The total annual tax credit allocation is capped at $16 million, and if total claimed credits exceed available credits, they will be proportionally distributed among eligible sellers. The tax credits cannot be transferred or sold, and the Missouri Department of Revenue may collaborate with the Department of Agriculture to validate the biodiesel content claimed. The program is set to automatically sunset on December 31, 2028, unless reauthorized by the state legislature, with provisions ensuring that existing claims can still be processed after the sunset date.

https://house.mo.gov/Bill.aspx?bill=HB1632&year=2026&code=R