HCS/SS/SCS/SB 466 - This act modifies provisions relating to income tax.WOOD ENERGY TAX CREDIT
A tax credit for the production of certain wood-energy processed wood products expires on June 30, 2028. This act repeals such sunset. (Section 135.305)
MEAT PROCESSING FACILITIES TAX CREDIT
The Meat Processing Facility Investment Tax Credit for the expansion or modernization of meat processing facilities expires on December 31, 2028. This act repeals such sunset. (Section 135.686)
HIGHER ETHANOL FUEL TAX CREDIT
A tax credit for the sale of higher ethanol blend fuels expires on December 31, 2028. This act repeals such sunset. (Section 135.772)
BIODIESEL RETAIL SALE TAX CREDIT
A tax credit for the sale of biodiesel fuels expires on December 31, 2028. This act repeals such sunset.
This act provides that a taxpayer shall not be liable for penalties or interest on an income tax balance due if such taxpayer is denied part or all of a tax credit to which the taxpayer has qualified due to lack of available funds, and such denial causes a balance-due notice to be generated by the Department of Revenue or any other redeeming agency. Such taxpayer shall pay the balance due within sixty days or be subject to penalties and interest pursuant to current law. (Section 135.775)
BIODIESEL PRODUCTION TAX CREDIT
A tax credit for the production of biodiesel fuels expires on December 31, 2028. This act repeals such sunset. (Section 135.778)
RAILROAD INFRASTRUCTURE TAX CREDIT
For all tax years beginning on or after January 1, 2026, this act authorizes a tax credit in the amount of fifty percent of an eligible taxpayer's qualified railroad expenditures and qualified new rail infrastructure expenditures. "Qualified railroad expenditures" are defined as gross expenditures for maintenance, reconstruction, or replacement of railroad infrastructure, as described in the act. "Qualified new rail infrastructure expenditures" are defined as gross expenditures for new rail infrastructure, as described in the act.
A tax credit for qualified railroad expenditures shall not exceed $5,000 multiplied by the number of miles of railroad track owned or leased in the state by a railroad, and the total amount of tax credits for qualified railroad expenditures authorized in a calendar year shall not exceed $4.5 million. A tax credit for qualified new rail infrastructure expenditures shall not exceed $1 million for each new rail-served customer project, and the total amount of tax credits for qualified new rail infrastructure expenditures authorized in a calendar year shall not exceed $10 million.
An eligible taxpayer shall submit a certificate of eligibility to the Department of Economic Development after the completion of the qualified railroad expenditures or qualified new rail infrastructure expenditures.
Tax credits authorized by the act shall not be refundable, but may be carried forward for five subsequent tax years. Tax credits may be transferred as described in the act.
This act shall sunset on December 31, 2031, unless reauthorized by the General Assembly.
This provision is identical to HCS/HB 669 (2025) and is substantially similar to SCS/SB 462 (2025), SS/SCS/SB 876 (2024), HB 1824 (2024), SB 385 (2023), and HCS/HB 657 (2023), and to a provision in HCS/HB 1935 (2024) and HCS/HB 939 (2023). (Section 135.1210)
URBAN FARMS TAX CREDIT
A tax credit for the establishment or improvement of urban farms expires on December 31, 2028. This act repeals such sunset. (Section 135.1610)
ROLLING STOCK TAX CREDIT
A tax credit for eligible expenses incurred in the manufacture, maintenance, or improvement of a freight line company's qualified rolling stock expires on August 28, 2028. This act repeals such sunset. (Section 137.1018)
BEGINNING FARMER INCOME TAX DEDUCTION
Current law authorizes an income tax deduction for certain income received for the sale or lease of farmland to beginning farmers. This act adds a definition of "taxpayer" to such deduction. (Section 143.121)
This provision is identical to SB 682 (2025) and HB 1042 (2025), and to a provision in HCS/SS/SB 67 (2025).
TIME FOR FILING RETURNS
Current law provides that the date for filing income tax returns shall be the fifteenth day of the fourth month following the close of the taxpayer's taxable year. This act provides that such date shall be the date prescribed for the filing of federal tax returns. The act provides that if such date is changed for any reason, the date for filing state income tax returns shall also be changed to such date. (Section 143.511)
This provision is identical to a provision in HCS/SS/SB 67 (2025).
DEFICIENCIES DUE TO DENIED TAX CREDITS
This act provides that a taxpayer shall not be liable for penalties or interest on an income tax balance due if such taxpayer is denied part or all of a tax credit to which the taxpayer has qualified pursuant to any provision of law due to lack of available funds, and such denial causes a balance-due notice to be generated by the Department of Revenue or any other redeeming agency. Such taxpayer shall pay the balance due within sixty days or be subject to penalties and interest pursuant to current law. (Section 143.512)
This provision is identical to a provision in HCS/SS/SB 67 (2025).
AGRICULTURAL PRODUCTION TAX CREDITS
Tax credits for contributions to the Missouri Agriculture and Small Business Development Authority and investments in new generation cooperatives for the purpose of development of agricultural business expire on December 31, 2028. This act repeals such sunset. (Section 348.436)
SPECIALTY AGRICULTURAL CROPS
The "Specialty Agricultural Crops Act" loan program for family farmers and tax credits for lenders expires on December 31, 2028. This act repeals such sunset. (Sections 348.491 and 348.493)
This act is substantially similar to SB 958 (2024).
JOSH NORBERG