HB 2016 -- Tax Credit for Sales of Certain Cattle

Sponsor:  Schlottach

This bill authorizes the Agricultural and Small Business
Development Authority to issue a tax credit certificate in an
amount equal to six cents per pound above 500 pounds at the time
qualified beef cattle are sold.  The beef cattle must be born in
Missouri after August 28, 2006, and raised and finished instate
to qualify for the tax credit.  The authority will require
submission of an application for the tax credit including certain
information which will be confidential.

The tax credit must be claimed in the year the qualifying sale
occurs, but any unused portion may be carried back three taxable
years, carried forward five taxable years, assigned, transferred,
or sold.  The maximum amount of tax credits that may be claimed
beginning January 1, 2007, and ending on December 31, 2010, is
$10 million in any tax year but cannot exceed $30 million in
total.  If the demand among qualified applicants for tax credits
exceeds $10 million in any year, the tax credits will be prorated
among the qualified applicants.

Missouri House of Representatives
93rd General Assembly, 2nd Regular Session
Last Updated November 29, 2006 at 9:45 am