Bill > SB913

This bill modifies several tax credit provisions in Missouri, creating new programs and adjusting existing ones across various sectors. The bill introduces a new tax credit program for railroad infrastructure, allowing eligible taxpayers to claim credits for qualified railroad track expenditures and new rail infrastructure investments, with annual limits of $4.5 million for track expenditures and $5 million for new infrastructure. It also continues and slightly modifies existing tax credit programs for urban farming, biodiesel fuel production and sales, higher ethanol blend sales, meat processing facility investments, and specialty agricultural crop loans. The bill removes previous sunset provisions that would have automatically terminated these programs on December 31, 2028, which suggests an intention to make these programs more permanent. For urban farming, the tax credit remains at 50% of eligible expenses, with a maximum of $5,000 per urban farm and a total annual authorization of $200,000. The biodiesel and ethanol blend programs maintain their existing credit structures, with credits ranging from two to five cents per gallon depending on the blend percentage. The meat processing facility investment tax credit allows for 25% of modernization expenses, with a maximum of $75,000 per year per taxpayer. Overall, the bill aims to support various agricultural and infrastructure-related industries in Missouri by providing financial incentives through tax credits.

Agriculture and Natural Resources

https://www.senate.mo.gov/26info/BTS_Web/Bill.aspx?SessionType=R&BillID=541