HB 1425 -- Agricultural Tax Credits

Sponsor:  Munzlinger

Currently, agricultural tax credits are not to exceed $6 million
in the aggregate in any fiscal year.  This bill increases the
maximum amount to $12 million.

The Missouri Agricultural and Small Business Development
Authority is allowed to issue up to $1 million in agricultural
product utilization tax credits in any fiscal year to individuals
contributing cash funds to the authority.  The funds are to be
used for financial or technical assistance to rural agricultural
business concepts approved by the authority.

Eleven million dollars of total tax credits, increased from $6
million, are authorized annually for the New Generation
Cooperative Incentive Tax Credit Program.

The bill extends from December 31, 2010, to December 31, 2016,
the expiration date for the authority to issue agricultural tax
credits.

Missouri House of Representatives
94th General Assembly, 2nd Regular Session
Last Updated October 15, 2008 at 3:10 pm