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HB 948 - This act modifies several provisions relating to tax credits. WOOD ENERGY TAX CREDIT A tax credit for the production of certain wood-energy processed wood products expired on June 30, 2020. This act extends the tax credit until June 30, 2027. (Section 135.305) This provision is identical to SB 127 (2021), HB 393 (2021), SB 674 (2020), and HB 2274 (2020), and to a provision contained in SCS/SB 354 (2021), HCS/HB 693 (2021), HCS/SS/SCS/SB 570 (2020), HCS/SCS/SB 616 (2020), HCS/SS#2/SB 704 (2020), and SB 454 (2019). MEAT PROCESSING FACILITIES TAX CREDIT Current law authorizes the Meat Processing Facility Investment Tax Credit for the expansion or modernization of meat processing facilities, with such tax credit program to expire December 31, 2021. This act extends such tax credit until December 31, 2027. (Section 135.686) This provision is identical to SB 355 (2021) and is substantially similar to a provision contained in SCS/SB 354 (2021). AGRICULTURAL PRODUCTION TAX CREDITS Current law authorizes 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, with such tax credit programs to expire December 31, 2021. This act extends such tax credits until December 31, 2027. (Section 348.436) This provision is identical to a provision contained in SCS/SB 354 (2021) and HCS/HB 693 (2021). JOSH NORBERG
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