HB2126--MEATPROCESSINGFACILITYTAXCREDIT
SPONSOR: Francis
COMMITTEEACTION:Voted"DoPass"bytheStandingCommitteeon
RuralCommunityDevelopmentbyavoteof13to0.
AsofDecember31,2021,the"MeatProcessingFacilityInvestment
TaxCreditAct"nolongerauthorizestheissuanceoftaxcredits.
ThisbillreauthorizessuchcreditsuntilDecember31,2028,and
limitstheeligibilitytotaxpayerswhoownameatprocessing
facilityinthisstateandemployacombinedtotaloffewerthan
500individualsinallmeatprocessingfacilitiesownedbythe
individualorentity.Additionally,thisbillremovesasharedcap
of$2millionwiththeQualifiedBeefTaxCreditAct,andallows
theMeatProcessingFacilityInvestmentTaxCreditActtohavean
individualcapof$2million,annually.
PROPONENTS: Supporterssaythatthecurrentprogramisworkingand
itprovidesjobsandincreasesproductioninthestate.
Additionally,ittooktimetostartupthisprogram,theprogramis
currentlyworking,andneedstobeextended.
TestifyingforthebillwereRepresentative Francis;MissouriCorn
GrowersAssociation;MissouriFarmBureau;MissouriCattlemen's
Association;JillWood,MoAgricultural&SmallBusiness
DevelopmentAuthority;MissouriSoybeanAssociation;andMissouri
PorkAssociation.
OPPONENTS: Writtentestimonyinwassubmittedinoppositiontothe
bill.
Writtentestimonyhasbeensubmittedforthisbill.Thefull
writtentestimonycanbefoundunderTestimonyonthebillpageon
theHousewebsite.