Several state ag groups are urging lawmakers to renew three tax credits through the Missouri Agriculture & Small Business Development Authority (MASBDA) that expire at the end of this year.
Casey Wasser with Missouri Soybean Association says the tax credits don’t receive any general revenue funding and one of them is responsible for standing up the biodiesel industry in Missouri.
“That (New Generation Cooperative Incentive Tax Credit) created farmer investment. It created that opportunity to invest in biodiesel plants, to receive those dividends.”
He says the Meat Processing Facility Investment Tax credit is another important one especially after the early effects of the pandemic backed up meat processing at large facilities.
