HB 116 -- Agricultural Commodity Tax Credits

Co-Sponsors:  Myers, Whorton

This bill allows contributors to the Agriculture and Small
Business Development Authority and producer members who invest
cash funds in an eligible new generation cooperative to use tax
credits they receive against their estimated quarterly tax
otherwise due.

Beginning January 1, 2004, in order to receive tax credits, any
producer member who invests funds in an eligible new generation
cooperative is required to own land in Missouri which produces a
commodity in an amount to cover the member's obligation to
deliver the commodity to the eligible new generation cooperative
or to be domiciled in Missouri.

Missouri House of Representatives
Last Updated July 25, 2003 at 10:10 am