SECOND REGULAR SESSION
97TH GENERAL ASSEMBLY
INTRODUCED BY REPRESENTATIVES FITZWATER (Sponsor), FRAKER, PHILLIPS, COOKSON, MILLER, ROWLAND, REIBOLDT, LANT, FRANKLIN, ROSS, WALKER AND JUSTUS (Co-sponsors).
5582H.01I D. ADAM CRUMBLISS, Chief Clerk
AN ACT
To repeal section 135.305, RSMo, and to enact in lieu thereof one new section relating to a wood energy tax credit.
Be it enacted by the General Assembly of the state of Missouri, as follows:
Section A. Section 135.305, RSMo, is repealed and one new section enacted in lieu thereof, to be known as section 135.305, to read as follows:
135.305. A Missouri wood energy producer shall be eligible for a tax credit on taxes otherwise due under chapter 143, except sections 143.191 to 143.261, as a production incentive to produce processed wood products in a qualified wood-producing facility using Missouri forest product residue. The tax credit to the wood energy producer shall be five dollars per ton of processed material. The credit may be claimed for a period of five years and is to be a tax credit against the tax otherwise due. No new tax credits, provided for under sections 135.300 to 135.311, shall be authorized after June 30, [2013] 2020. In no event shall the aggregate amount of all tax credits allowed under sections 135.300 to 135.311 exceed three million dollars in any given fiscal year.
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