MO HB83

Repeals section 135.305 and enacts three new sections (135.305, 135.315, and 135.1590) relating to agricultural tax credits.

Extends the wood energy producer tax credit deadline from June 30, 2013 to June 30, 2018, with an aggregate cap of $3.5 million annually across all wood energy credits.

Creates a tax credit for taxpayers using processed biomass engineered fiber fuel (fuel derived from three or more in-state biomass inputs with at least 7,500 BTUs per pound), ranging from 30% of purchase price in year one to 5% in year six, with a $5 million annual cap.

Establishes the "Show-Me Milk and Infrastructure Stabilization Act" providing a tax credit to qualified grade A milk producers of up to $25,000 per year, funded by a $5 million annual aggregate pool divided among all participating dairies.

Allows transfer and sale of milk production tax credits, includes sunset provisions requiring reauthorization, and requires the Missouri Agricultural and Small Business Development Authority to report on milk production data by January 1, 2016.