HB 2574 -- Tax Credits for Energy Producers

Sponsor:  Scharnhorst

This bill changes the laws regarding tax credits for energy
producers.  In its main provisions, the bill:

(1)  Authorizes a tax credit to a Missouri wood energy producer
for using Missouri forest product residue to produce electricity.
The tax credit will be equal to $5 per ton of processed material
and may be claimed for up to five years;

(2)  Increases the total amount of tax credits available for
qualified investments in Missouri small businesses from $13
million to $30 million and requires at least $20 million of the
amount authorized and certified by the Department of Economic
Development to be for Missouri small businesses involved in the
manufacture of alternative power generation equipment;

(3)  Revises the definition of "wood energy producing facility"
to include facilities that use Missouri forest industry residue
to generate alternative power without the use of coal;

(4)  Revises the definition of "Missouri forestry industry
residue" to include any residue that results from timber removal
for development purposes and wood residue from milling plants;
and

(5)  Allows hogged and chipped wood to qualify as processed wood
energy resources for the purposes of the wood energy producers
tax credit.  Currently, these products do not qualify.

Missouri House of Representatives
94th General Assembly, 2nd Regular Session
Last Updated October 15, 2008 at 3:12 pm