| HB 0603 | Establishes a Credit for Producers of Soy Diesel Fuel |
| Sponsor: | TATE | Handling House Bill: | |
| Committee: | AGRB | LR Number: | L1446.01I |
| Last Action: | 03/09/95 - Reported Do Pass H Agri-Business Committee | ||
| Title: | |||
| Effective Date: | |||
HB0603 Tate, Phil
P R E F I L E D
HB 603 -- Credit for Producers of Soy Diesel Fuel (CORRECTED)
This bill provides for Missouri qualified soy diesel fuel producers to receive monthly grants from the Missouri Qualified Soy Diesel Fuel Producer Incentive Fund created by this bill. The fund will receive $250,000 per year from the Missouri Soybean Merchandising Council, $150,000 per year (subject to appropriation) from general revenue and $100,000 per year (subject to appropriation) from the petroleum overcharge moneys. Qualified producers will be eligible for a monthly grant equal to 10 cents per gallon times the estimated total gallons produced in that month. The qualified producer will be eligible for the 10 cents per gallon incentive for the first 5,000,000 gallons of soy diesel produced in one calendar year. Qualified producers are to apply to the state, as provided in the bill, in order to qualify for such grants. Missouri soybeans exclusively must be used by the producer in order to qualify for such grants.
No grants are to be paid until the first fiscal year after the Department of Agriculture certifies as eligible the first Missouri qualified soy diesel fuel producer in the state. The grants will terminate at the end of the third fiscal year after such grants begin.