|HB 0642||Allows State Financial Assistance-Agricultural Cooperatives|
|Sponsor:||LEAKE||Handling House Bill:|
|Last Action:||03/09/95 - HCS Reported Do Pass H Agriculture Committee|
HB0642 Leake, Sam
P R E F I L E D
HB 642 -- Agricultural Cooperatives
This bill allows any corporation, family farm corporation, or other person engaged in farming to form a cooperative for establishing a value-added agriculture industry. No single entity within any such cooperative is allowed to own more than 49% interest in the entire statewide industry.
The bill also permits state financial assistance to any such value-added agricultural cooperative, including
(1) Linked Deposits, Farm Assistance, Small Business and Water Systems Loans,
(2) Neighborhood Assistance Act,
(3) Credit for New or Expanded Business Facilities,
(4) Enterprise Zones-Urban Redevelopment,
(5) Tax Credit for Investments in Missouri Small Businesses,
(6) Agriculture and Small Business Development Authority, and
(7) Missouri Technology Corporation.