HB 815 -- New Generation Cooperatives

Co-Sponsors:  Kreider, Williams (159), Leake, Crump, Wiggins,
Berkowitz, Gaw, Britt

The purpose of this bill is to encourage increased utilization
of agricultural commodities of the state and is to be known as
the Missouri Value-Added Agriculture Act.  Beginning January 1,
1999, any person purchasing shares in a new generation
cooperative is to receive a tax credit equal to the lesser of
50% of such person's investment or $30,000.  Such credit may be
carried back 3 prior years or forward 5 years.  Tax credits
pursuant to this act are refundable and may be assigned,
transferred, or sold.

The bill also requires the Department of Natural Resources and
the Department of Agriculture, at no cost, to provide new
generation cooperatives any technical assistance necessary to
implement the provisions of this bill.