MO SB789

Establishes the "New Generation Cooperative Incentive Tax Credit" program allowing producer members to receive tax credits equal to the lesser of 50% of their investment or $15,000 for investments in eligible cooperatives and processing entities.

Creates a new category of "Early-stage market feasibility projects" for eligible new generation processing entities that develop marketing, distribution, processing, or procurement plans for livestock processing, provided they incur capital costs within five years of first tax credit offering.

Reallocates tax credit distribution from 90% to employee-qualified and large capital projects to 80%, while dedicating 10% to both small capital projects and early-stage market feasibility projects, with unused portions available to other categories.

Establishes maximum tax credits of $3 million per employee-qualified capital project and $1.5 million per large capital project, with early-stage market feasibility projects required to repay all issued credits if capital costs are not incurred within five years.

Allows tax credits to be carried back three years or forward five years, and permits assignment, transfer, or sale of credits with notarized endorsement filed with the agriculture and small business development authority.