Agricultural tax credit package sent to Governor Parson - special session work concludes
October 4, 2022 - The Missouri Senate today gave final approval to AIM-supported legislation that would extend a set of agricultural and forestry tax credits for six years. The legislation is the second of two bills requested by Governor Mike Parson when he called the special legislative session.
The Missouri Senate voted 26-3 to approve HCS HB 3, sponsored by Rep. Brad Pollitt, a bill that will extend several tax credits, including the Wood Energy Tax Credit that is used to encourage recycling of sawdust waste into usable items like charcoal briquettes.
"We have consistently supported the Wood Energy Tax Credit and supported HB 3 throughout its consideration and passage in this special session," said Ray McCarty, president and CEO of Associated Industries of Missouri (AIM). "Associated Industries of Missouri fully supports this credit as a win-win for environmental stewardship and to help make charcoal production more economical in Missouri."
The bill also contains extension of the Meat Processing Facility Investment Tax Credit, ethanol and biodiesel incentives, an urban farm tax credit, extension of the rolling stock tax credit, a sales tax exemption for ATV's and UTV's used on farms, and several other tax credit provisions.
The bill will now be considered by Governor Parson.