Bill > HB2716

This bill authorizes a nonrefundable state tax credit for certain railroad expenses and new rail infrastructure projects in Missouri, beginning in tax years on or after January 1, 2027. An "eligible taxpayer" includes specific types of short line railroads (Class II or III), owners or lessees of rail sidings, industrial spurs, or industry tracks, and port authorities or city-owned railroads that incur "qualified railroad expenditures" (for maintenance, reconstruction, or replacement of existing infrastructure) or "qualified new rail infrastructure expenditures" (for construction of new track infrastructure like industrial leads, switches, spurs, sidings, and loading docks). The credit amount is generally fifty percent of these expenditures, with specific limits: for qualified railroad expenditures, the credit is capped based on the number of miles of track owned or leased, and for qualified new rail infrastructure expenditures, it's capped at one million dollars per new rail-served customer project. There are annual caps on the total amount of credits issued for each type of expenditure, with credits awarded on a first-come, first-served basis if claims exceed the annual limits. Unused credits can be carried forward for up to five years, and eligible taxpayers can transfer their credits to other taxpayers subject to Missouri income tax. The bill also includes provisions for reporting, rulemaking by state departments, and a sunset clause, meaning the program will automatically expire after six years unless reauthorized by the General Assembly.

Agriculture and Natural Resources

https://house.mo.gov/Bill.aspx?bill=HB2716&year=2026&code=R