SCS SB 1155 -- MISSOURI RURAL ECONOMIC STIMULUS ACT

SPONSOR:  Cauthorn (Dempsey)

COMMITTEE ACTION:  Voted "do pass" by the Committee on Job
Creation and Economic Development by a vote of 16 to 2.

This substitute expands the definition of "development project"
as it relates to the Missouri Rural Economic Stimulus Act
(MORESA) to include eligible new generation processing entities.
Current law only allows projects that create renewable fuel
production facilities to participate in the act.  The substitute
also authorizes the Missouri Agricultural and Small Business
Development Authority, instead of the Missouri Development
Finance Board, to charge reasonable fees associated with the
development project.

FISCAL NOTE:  No impact on state funds in FY 2005, FY 2006, and
FY 2007.

PROPONENTS:  Supporters say that the bill gives the agricultural
community more flexibility and more opportunities to participate
in MORESA.  The bill expands MORESA beyond renewable fuel
production facilities to include all value-added agricultural
processing facilities.

Testifying for the bill were Senator Cauthorn; and Missouri Corn
Growers Association.

OPPOSITION:  There was no opposition voiced to the committee.

Alice Hurley, Legislative Analyst

Missouri House of Representatives
92nd General Assembly, 2nd Regular Session
Last Updated September 23, 2004 at 11:16 am