MO HB841

Establishes the "Show-Me Milk and Infrastructure Stabilization Act" creating a tax credit for qualified milk producers against state income tax liability beginning January 1, 2012.

Defines qualified milk producer as any resident taxpayer actively engaged in producing grade A milk, with credit calculated based on milk production quantity divided among all active dairy cows in the state.

Limits individual tax credits to a maximum of $25,000 per year, with total aggregate credits statewide capped at $15 million per calendar year.

Requires applicants to submit applications to the Department of Agriculture including producer identification number and documentation of milk production amounts during the tax credit period.

Provides that credits are non-refundable and non-transferable and must be used in the year issued; automatically sunsets three years after January 1, 2012 unless reauthorized by the legislature.