HB 1921 -- Income Tax:  Agricultural Investment Tax Credit

Co-Sponsors:  Hartzler (124), Blunt, Legan

This bill creates the Missouri Agricultural Investment Tax
Credit Program.

Taxpayers who qualify as farmers under federal and state law
will be allowed to take a 10% state income tax credit for the
cost of any item which is allowed as an expensing item election
under federal law.  The maximum credit will be $5,000 per
taxpayer per year.

The credit is not refundable, but excess credits may be carried
back 3 tax years or forward 5 tax years.

The credit will apply to tax years 2000 and thereafter.