SB 444 - This act provides that the Missouri Agricultural and Small Business Development Authority shall pay for the first full year of interest on any applicable Missouri linked deposit program loan, provided the loan pertains to the acquisition of dairy cows. The Authority may charge a fee up to $50 for this service.
Subject to appropriation not exceeding $50,000, the Authority shall award dairy business planning grants for up to $5,000 per grant or no greater than 90% of the cost of the plan, whichever is less. The Authority may charge a fee up to $50 to apply for a grant. Eligible applicants for the grants shall be existing or start-up dairy operations in Missouri that are at least 51% owned by Missouri residents. The dairy business plan can only be done by a dairy business planning professional approved by the Authority.
The Authority can promulgate rules for the grant program to establish eligibility and award criteria, including criteria relating to the potential to improve the dairy operation, the plan consultant, the qualifications of the dairy owner, potential economic benefit, and potential transferability of the study results.
This act has provisions similar to HCS/HB 346 (2007), HB 348 (2007), SB 471( 2007), and SB 773 (2006).