HB 1439, HCA 1 -- TAX CREDITS FOR CONTRIBUTIONS TO AGRICULTURAL
COMMODITY DEVELOPMENT

CO-SPONSORS:  Myers, Behnen, Davis, Robirds, Shoemyer (9), Moore,
Legan, Berkowitz, Mayer

COMMITTEE ACTION:  Voted "do pass" by the Committee on
Agriculture by a vote of 24 to 0.

Currently, persons contributing funds to the Agriculture and
Small Business Authority or investing funds in a new generation
cooperative may receive a tax credit up to certain limits.
Beginning January 1, 2003, and July 1, 2003, respectively, this
bill requires the contributor to own land in the state or be
domiciled in the state to receive the tax credits.

The bill also allows using the credit to reduce estimated
quarterly tax payments.

HCA 1 -- Changes the effective date of the qualification for the
tax credit on the basis of domicile in Missouri from July 1,
2003, to July 1, 2004.

FISCAL NOTE:  No impact on state funds.

PROPONENTS:  Supporters say that these tax credits should be
limited to owners of Missouri land and to entities domiciled in
the state.

Testifying for the bill were Representative Myers; and Missouri
Farm Bureau.

OPPONENTS:  There was no opposition voiced to the committee.

Roland Tackett, Legislative Analyst

Missouri House of Representatives
Last Updated October 11, 2002 at 9:01 am