SECOND REGULAR SESSION
HOUSE BILL NO. 1725
96TH GENERAL ASSEMBLY
INTRODUCED BY REPRESENTATIVES FITZWATER (Sponsor), FRAKER, COOKSON, DAY, PHILLIPS, FRANZ, LOEHNER, ROWLAND, POLLOCK, WELLS, DUGGER, SMITH (150), REIBOLDT, LANT AND WRIGHT (Co-sponsors).
5775L.01I D. ADAM CRUMBLISS, Chief Clerk
To repeal section 135.305, RSMo, and to enact in lieu thereof one new section relating to the tax credit for wood energy procedures.
Be it enacted by the General Assembly of the state of Missouri, as follows:
Section A. Section 135.305, RSMo, is repealed and one new section enacted in lieu thereof, to be known as section 135.305, to read as follows:
135.305. A Missouri wood energy producer shall be eligible for a tax credit on taxes otherwise due under chapter 143, except sections 143.191 to 143.261, as a production incentive to produce processed wood products in a qualified wood-producing facility using Missouri forest product residue. The tax credit to the wood energy producer shall be five dollars per ton of processed material. The credit may be claimed for a period of five years and is to be a tax credit against the tax otherwise due. No new tax credits, provided for under sections 135.300 to 135.311, shall be authorized after June 30,  2018. In no event shall the aggregate amount of all tax credits allowed pursuant to sections 135.300 to 135.311 exceed four million five hundred thousand dollars in any given fiscal year.