Missouri Senate

House Committee Substitute

SECTIONS 137.010 TO 137.115 - PROPERTY TAX FOR HYDROELECTRIC POWER GENERATION

This act classifies hydroelectric power generating equipment as tangible personal property for purposes of property taxation. Hydroelectric power generating equipment will be assessed at one percent of its true value in money.

These sections are similar to SCS/SB 357 (2011).

SECTIONS 263.190 TO 263.240 - NOXIOUS WEEDS

Under current law, all landowners are required to control the growth and spread of the plants musk thistle, scotch thistle, and Canada thistle. Additionally under current law, where a landowner does not control the thistle, the county commission has a duty to enter upon the property in order to control the thistle. This act expands these requirements to apply not only to the thistles, but to all plants that are designated by rule as a "noxious weed" by the Department of Agriculture. The act requires the department to maintain a list of all noxious weeds and make the list available to the public.

The act prohibits the sale of noxious weeds.

The act repeals the provisions of law that apply specifically to the following plants: multiflora rose, field bindweed, cut-leaved teasel, common teasel, kudzu, spotted knapweed, purple loosestrife, and Johnson grass.

These provisions are similar to SB 336 (2011) and HB 653 (2011).

SECTION 268.121 - BRAND BOOK

Under current law, the Department of Agriculture must publish a book of all livestock brands on record and must send copies of the book to all county recorders of deeds, livestock markets, and slaughter plants. This act removes the requirement that the department must publish the list of brands in book form, and instead requires the department to make the list available to the public on the internet. The act also removes the requirement that the department send a book to the counties, livestock markets, and slaughter plants.

This section is identical to SB 337 (2011).

SECTIONS 276.421 TO 276.441 - GRAIN DEALERS

The act requires that all licensed grain dealers or applicants for a grain dealer license must maintain a minimum net worth of 2% of the total amount of grain purchased in the previous fiscal year. Additionally, all licensed grain dealers and applicants must maintain current assets at least equal to current liabilities and the act specifies certain requirements related to the determination of assets and liabilities.

The act raises the minimum surety bond requirement for licensed grain dealers from $20,000 to $50,000 and raises the maximum from $300,000 to $600,000. The act modifies the formula for determining the amount of surety bond required by specifying that the amount shall be equal to 2% of the dealer's previous year's grain purchases, instead of within a range of between 1% and 5% of such purchases. The act repeals the section of law that allows a grain dealer who has purchased less than $400,000 of grain the previous year to satisfy the bond requirement by filing bonds at the rate of $1,000 per $20,000 worth of grain purchased.

These sections are identical to SCS/SB 356 (2011).

SECTIONS 348.400 TO 348.412 - LOAN GUARANTEES FOR AGRIBUSINESS

Currently, the Missouri Agricultural and Small Business Development Authority may provide loan guarantees on loans for the purchase or improvement of agricultural property. This act allows the loan guarantees to also be provided on loans for the purchase, expansion, or improvement of an agribusiness.

SECTION 411.280 - GRAIN WAREHOUSES

Under current law, the owner of a licensed grain warehouse must maintain a net worth equal to 15 cents per bushel of storage capacity. The act increases the multiplication factor from 15 cents to 25 cents.

This section is identical to the same section in SCS/SB 356 (2011).

ERIKA JAQUES