SCS/SB 750 - This act modifies several provisions relating to agricultural economic opportunities.JOINT COMMITTEE ON RURAL ECONOMIC DEVELOPMENT
This act establishes the Joint Committee on Rural Economic Development, which shall be composed of five members of the Senate to be appointed by the President Pro Tem and five members of the House of Representatives to be appointed by the Speaker of the House of Representatives. The Committee shall investigate and examine issues relating to the economic development of rural areas of the state, as described in the act. The Committee may submit a report of its activities to the General Assembly, which shall include any recommendations for legislative action or administrative and procedural changes. (Section 21.915)
This provision is identical to a provision in the truly agreed CCS/SS/SCS/HCS/HB 1720 (2022), a provision in SCS/SB 705 (2022), a provision in the truly agreed SS/SCS/SB 672 (2022), and a provision in HCS/HB 2203 (2022).
LAND SURVEYS
This act modifies definitions relating to conducting land surveys. The definition of "corners of the United States public land survey" is modified by adding the "center of section". The definition of "obliterated, decayed or destroyed corner" by changing the phrase "an existent corner" to "a position". The definition of "double proportionate measurement" is modified by repealing a description of the procedure used to relate the intersection of meridional and latitudinal lines to the measurement between four known corners.
This act repeals methods of reestablishing lost standard corners and lost section and quarter-section corners and replaces such methods with the single proportionate method.
This act also provides that the proportional position shall be offset, if necessary, in a cardinal direction to the true line defined by the nearest adjacent corners on opposite sides of the quarter-section corner to be established. (Sections 60.301 to 60.345)
These provisions are identical to provisions in the truly agreed CCS/SS/SCS/HCS/HB 1720 (2022) and provisions in SCS/SB 705 (2022).
WOOD ENERGY TAX CREDIT
A tax credit for the production of certain wood-energy processed wood products expired on June 30, 2020. This act extends the tax credit until June 30, 2028. (Section 135.305)
This provision is identical to SCS/SB 705 (2022), SB 127 (2021), HB 393 (2021), SB 674 (2020), and HB 2274 (2020), a provision contained in SB 644 (2022), SB 986 (2022), SS/SCS/SB 354 (2021), HCS/HB 601 (2021), HCS/HB 693 (2021), SS/SCS/HB 948 (2021), HCS/SS/SCS/SB 570 (2020), HCS/SCS/SB 616 (2020), and HCS/SS#2/SB 704 (2020) and substantially similar to a provision in the truly agreed CCS/SS/SCS/HCS/HB 1720 (2022) and SB 677 (2022).
MEAT PROCESSING FACILITIES TAX CREDIT
Current law authorizes the Meat Processing Facility Investment Tax Credit for the expansion or modernization of meat processing facilities, with such tax credit program to expire December 31, 2021. This act extends such tax credit until December 31, 2028.
This act also modifies the definition of "taxpayer" to require that a taxpayer shall own a meat processing facility located in this state and employs a combined total of fewer than 500 individuals in all meat processing facilities owned by the individual in the United States.
Current law limits the total amount of tax credits that may be authorized in a calendar for the Meat Processing Facilities tax credit and the Qualified Beef tax credit to $2 million. This act allows $2 million in tax credits for the Meat Processing Facilities tax credit without regard for the amount of Qualified Beef tax credits issued. (Section 135.686)
This provision is identical to a provision in SB 986 (2022) and a provision in SCS/SB 705 (2022) and is substantially similar to a provision in the truly agreed CCS/SS/SCS/HCS/HB 1720 (2022), SB 355 (2021) and to a provision contained in SB 644 (2022), SS/SCS/SB 354 (2021), HCS/HB 601 (2021), SS/SCS/HB 948 (2021), and HCS/HB 1095 (2021).
ETHANOL FUEL TAX CREDIT
For all tax years beginning on or after January 1, 2023, this act authorizes a tax credit for retail dealers selling higher ethanol blend at the retail dealer's service station, as such terms are defined in the act. The credit shall be equal to five cents per gallon of higher ethanol blend sold and dispensed through metered pumps at the service station during the tax year. The tax credit shall be nontransferable and nonrefundable. The total amount of tax credits authorized under the act in a given fiscal year shall not exceed $5 million.
This act shall sunset on December 31, 2028, unless reauthorized by the General Assembly. (Section 135.755)
This provision is identical to a provision in SCS/SB 705 (2022), substantially similar to SB 707 (2022), SCS/SB 140 (2021), a provision contained in SS/SCS/SB 354 (2021), SS/SCS/HB 948 (2021), HCS/SS/SCS/SB 4 (2021), and HCS/HB 601 (2021), and is similar to a provision in the truly agreed CCS/SS/SCS/HCS/HB 1720 (2022).
BIODIESEL RETAIL SALE TAX CREDIT
For all tax years beginning on or after January 1, 2023, this act authorizes a tax credit for retail dealers selling biodiesel blend at the retail dealer's service station and distributors selling biodiesel blend directly to the final user located in this state, as such terms are defined in the act. The credit shall be equal to two cents per gallon of biodiesel blend of between 5-10%, and five cents per gallon of biodiesel blend in excess of 10% sold and dispensed at the service station during the tax year.
Tax credits authorized by the act shall not be transferable but shall be refundable. The total amount of tax credits authorized under the act in a given fiscal year shall not exceed $16 million. If the amount of tax credits claimed during the fiscal year exceed such amount, the tax credits shall be equally apportioned among the retail dealers claiming the credit by April 15 of such year.
This provision shall sunset on December 31, 2028, unless reauthorized by the General Assembly. (Section 135.775)
This provision is identical to a provision in SCS/SB 705 (2022) and substantially similar to a provision in SB 805 (2022), a provision in the truly agreed CCS/SS/SCS/HCS/HB 1720 (2022), CCS/SB 37 (2021), and is similar to a provision contained in SS/SCS/SB 354 (2021).
BIODIESEL PRODUCTION TAX CREDIT
For all tax years beginning on or after January 1, 2023, this act authorizes a tax credit for Missouri biodiesel producers in the amount of two cents per gallon of biodiesel fuel produced by such producer. To qualify for a tax credit, a biodiesel producer shall be a facility that produces biodiesel fuel, is registered with the U.S. Environmental Protection Agency as required by federal law, has begun construction or has been selling biodiesel fuel on or before August 28, 2022.
Tax credits authorized by the act shall not be transferable but shall be refundable. The total amount of tax credits authorized under the act in a given fiscal year shall not exceed $4 million. If the amount of tax credits claimed during the fiscal year exceed such amount, the tax credits shall be equally apportioned among the biodiesel producers claiming the credit by April 15 of such year.
This provision shall sunset on December 31, 2028, unless reauthorized by the General Assembly. (Section 135.778)
This provision is identical to a provision in SCS/SB 705 (2022) and substantially similar to a provision in SB 805 (2022) and a provision in the truly agreed CCS/SS/SCS/HCS/HB 1720 (2022).
URBAN FARMS TAX CREDIT
For all tax years beginning on or after January 1, 2023, this act authorizes a tax credit in an amount equal to fifty percent of a taxpayer's expenses incurred in the construction or development of establishing or improving an urban farm in an urban area, as such terms are defined in the act.
The tax credit shall not exceed $5,000 for any single urban farm and shall not be transferable or refundable, but may be carried forward for three years. The total amount of tax credits that may be authorized for all taxpayers for any given urban farm shall not exceed $25,000. The total amount of tax credits authorized under this act during a calendar year shall not exceed $200,000.
The Missouri Agriculture and Small Business Authority shall recapture the amount of tax credits issued to a taxpayer who, after receiving the tax credit, uses the urban farm for the personal benefit of the taxpayer instead of for producing agricultural food products used solely for distribution to the public by sale or donation.
This provision shall sunset after six years unless reauthorized by the General Assembly. (Section 135.1610)
This provision is identical to a provision in SCS/SB 705 (2022), substantially similar to a provision in the truly agreed CCS/SS/SCS/HCS/HB 1720 (2022), SB 717 (2022), HB 1570 (2022), HB 2020 (2022), SCS/SB 82 (2021), and similar to SB 717 (2022).
SOYBEAN PRODUCERS ASSESSMENT
Current federal law requires a soybean producer to remit an assessment equal to 0.5% of the net market price of the soybeans sold. This act provides that as long as such federal assessment is equal to 0.5%, the assessment imposed and levied under state law shall be equal to one-half of the federal assessment. If the federal assessment is reduced to less than 0.5% or is eliminated, the state assessment shall be equal to 0.5% of the net market price, as defined in the act, of the soybeans sold. (Section 275.357)
This provision is identical to the perfected HB 2387 (2022), a provision in the truly agreed CCS/SS/SCS/HCS/HB 1720 (2022), a provision in SCS/SB 705 (2022), and similar to SB 1030 (2022).
AGRICULTURAL PRODUCTION TAX CREDITS
Current law authorizes tax credits for contributions to the Missouri Agriculture and Small Business Development Authority and investments in new generation cooperatives for the purpose of development of agricultural business, with such tax credit programs to expire December 31, 2021. This act extends such tax credits until December 31, 2028. (Section 348.436)
This provision is identical to SCS/SB 705 (2022), SB 866 (2022), a provision in SB 644 (2022), SB 986 (2022), SS/SCS/SB 354 (2021), HCS/HB 601 (2021), HCS/HB 693 (2021), and SS/SCS/HB 948 (2021), and substantially similar to a provision in the truly agreed CCS/SS/SCS/HCS/HB 1720 (2022).
FAMILY FARMS ACT
In current law, "small farmer" is defined in the Family Farms Act as a farmer who is a Missouri resident and who has less than $250,000 in gross sales per year. This act changes the amount of gross sales to less than $500,000 per year.
The act repeals a provision that each small farmer is eligible for only one family farm livestock loan per family and for only one type of livestock.
Additionally, the maximum amount of the family farm livestock loan for each type of livestock under the act is as follows:
• Beef cattle: $150,000
• Dairy cattle: $150,000
• Swine: $70,000; and
• Sheep & goats: 60,000
This provision is identical to a provision in the truly agreed CCS/SS/SCS/HCS/HB 1720 (2022), SCS/SB 705 (2022), SB 817 (2022), SB 490 (2021), and HB 645 (2021), and to provisions contained in HCS/HB 601 (2021), and is similar to SB 868 (2020) and HB 2041 (2020). (Section 348.500)
RURAL WORKFORCE DEVELOPMENT ACT
This act establishes the "Missouri Rural Workforce Development Act", which provides a tax credit for certain investments made in businesses located in rural areas in this state.
This act allows investors to make capital investments in a rural fund, as defined in the act. Such investors shall be allowed a tax credit for a period of six years beginning with the year the investor made a capital investment. The tax credit shall be equal to a percentage of the capital investment. The percentage shall be zero for the first two years, and fifteen percent for the subsequent four years. Tax credits issued under the act shall not be refundable, but may be carried forward to any of the five subsequent tax years, as described in the act. No more than $16 million dollars in tax credits shall be authorized in a given calendar year.
A rural fund wishing to accept investments as capital investments shall apply to the Department of Economic Development. The application shall include the amount of capital investment requested, a copy of the applicant's license as a rural business or small business investment company, evidence that the applicant has made at least $100 million in investments in nonpublic companies located in counties throughout the United States with a population less than fifty thousand, evidence that the applicant has made at least $30 million in investments in nonpublic companies located in Missouri, and a business plan that includes a revenue impact statement projecting state and local tax revenue to be generated by the applicant's proposed qualified investments, as described in the act. The rural fund shall also submit a nonrefundable application fee of $5,000.
The Department shall grant or deny an application within sixty days of receipt. The Department shall deny an application if such application is incomplete or insufficient, if the revenue impact assessment does not demonstrate that the business plan will result in a positive economic impact on the state over a ten year period, or if the Department has already approved the maximum amount of capital investment authority.
Rural funds shall use capital investments made by investors to make qualified investments, as defined in the act, in eligible businesses. An eligible business is a business that, at the time of the qualified investment, has fewer than two hundred fifty employees and has its principal business operations in the state.
The Department may recapture tax credits if the rural fund does not invest sixty percent of its capital investment authority in qualified investments within two years of the date of the capital investment, and one hundred percent of its capital investment authority within three years, if the rural fund fails to maintain qualified investments equal to ninety percent of its capital investment authority in years three through six, as described in the act, if prior to exiting the program or thirty days after the sixth year, the rural fund makes a distribution or payment that results in the fund having less than one hundred percent of its capital investment authority invested in qualified investments, or if the rural fund violates provisions of the act.
Rural funds shall submit annual reports to the Department, including the name and location of each eligible business receiving a qualified investment, the number of jobs created and jobs retained as a result of qualified investments, the average salary of such jobs, and any other information required by the Department, as described in the act.
At any time after the sixth anniversary of the capital investment, a rural fund may apply to the Department to exit the program. The Department shall respond to such application within fifteen days. A rural fund shall be subject to penalties for not meeting projected job creation metrics, as described in the act.
These provisions shall sunset on August 28, 2028, unless reauthorized by the General Assembly. (Sections 620.3500 to 620.3530)
These provisions are to SB 675 (2022), SB 905 (2022), SB 1091 (2022), SCS/SB 465 (2021), HB 1361 (2021), SB 724 (2020), SCS/SB 477 (2019), HB 1230 (2019), and HB 1236 (2019), and to provisions contained in SS/SCS/HB 948 (2021).
ANHYDROUS AMMONIA
This act repeals provisions of law that give the Department of Agriculture oversight over standards relating to anhydrous ammonia.
Additionally, under the act the Air Conservation Commission shall have the power to adopt, promulgate, amend, and repeal rules and regulations for covered processes at agricultural stationary sources that use, store, or sell anhydrous ammonia, and regulations necessary to implement and enforce the risk management plans under the federal Clean Air Act.
Each retail agricultural facility that uses, stores, or sells anhydrous ammonia that is an air contaminant source subject to a risk management plan under the federal Clean Air Act shall pay an annual registration of $200. The act establishes an annual tonnage fee for anhydrous ammonia of $1.25 per ton used or sold.
Each distributor or terminal agricultural facility that uses, stores, or sells anhydrous ammonia that is an air contaminant source subject to a risk management plan program 3 under federal regulations relating to chemical accident prevention shall pay an annual registration of $5,000 and shall not pay a tonnage fee.
Finally, the act creates the Anhydrous Ammonia Risk Management Plan Subaccount within the Natural Resources Protection Fund which shall consist of fees required under the act. (Sections 643.050 to 643.245)
This provision is identical to a provision in the truly agreed CCS/SS/SCS/HCS/HB 1720 (2022) and SCS/SB 705 (2022) and is substantially similar to SB 37 (2021), SB 994 (2020), and HB 2573 (2020).
This act contains an emergency clause for certain sections.
JAMIE ANDREWS