- Committee -

SCS/SBs 740, 886 & 1178 - This act pertains to agriculture programs. A very brief breakdown of the act follows:

SECTION 148.330 - AGRICULTURAL TAX CREDITS - This act makes changes to subsection 4 of Section 148.330, RSMo, primarily putting the county stock insurance fund back into GR, and then holding both schools and counties harmless with the apportioned moneys from the county stock insurance fund.

This act allows contributors to take the tax credits for new generation cooperatives and new generation processing entities on a quarterly basis.

This act clarifies that the premium tax credits permitted in Sections 348.430 and 348.432, RSMo, shall only be subtracted against the general revenue fund and not against the county stock insurance fund.

Except for changes noted, this portion of the act is identical to SB 84 (2003).

SECTIONS 261.115 TO 261.289 - GROWERS DISTRICTS - This act creates voluntary districts for individuals who are owners or operators of land used in the cultivation of commercial crops within the physical boundaries of the district.

This act establishes organizational requirements, rights, and responsibilities for the grower districts.

This act is similar to provisions (Sections 261.250 to 261.289) that were contained in SS/SCS/HCS/HB 257 (2003).

SECTION 265.475 - Changes various provisions relating to meat inspection programs.

SECTIONS 348.406 to 348.410 - AGRICULTURAL BUSINESS DEVELOPMENT LOAN PROGRAM - This act allows the Missouri Agricultural and Small Business Development Authority (MASBDA) to issue certificates of guaranty covering a first loss up to but not more than fifty percent for eligible borrowers. This act states that outstanding guaranteed loans shall at no time exceed an amount which would allow immediate redemption of twenty percent of the outstanding loans guaranteed by the fund at any one time.

SECTIONS 348.430 to 348.432 - Changes various provisions relating to agricultural tax credits.

MEGAN CRAIN