SB 489 – Modifies the maximum amount of certain agricultural tax credits that may be issued each fiscal year

• Sponsor: Clemens
• LR Number: 2184S.01I
• Committee: Agriculture, Conservation, Parks & Natural Resources
• Last Action: 3/14/2007 - Voted Do Pass S Agriculture, Conservation, Parks & Natural Resources Committee
• Effective Date: August 28, 2007

Current Bill Summary

SB 489 - This act increases from $6 million to $12 million the aggregate amount of tax credits that may be issued per fiscal year for the Agricultural Product Utilization Contributor tax credit and the New Generation Cooperative Incentive tax credit.

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 Authority may issue additional Agricultural Product Utilization tax credits in circumstances as described in the act.

This act is identical to HB 346 (2007).

ERIKA JAQUES