MO SB1124

Extends the Qualified Beef Tax Credit from December 31, 2016 to December 31, 2023, with credits of $0.10/pound for cattle under 600 pounds and $0.25/pound for cattle 600 pounds or greater, based on weight gained above baseline

Creates the Livestock Risk Protection Tax Credit (Section 135.684) providing a 50% tax credit on premiums paid for federal livestock risk protection insurance on feeder cattle and fed cattle, effective January 1, 2017 through December 31, 2023

Creates the Meat Processing Facility Investment Tax Credit (Section 135.686) equal to 25% of expenses for modernization or expansion of meat processing facilities, capped at $75,000 per taxpayer per year

Limits individual taxpayers to $10,000 per year in credits under the beef and livestock insurance programs, with a maximum 3-year participation period for each

Sets a combined annual cap of $3 million for all three tax credit programs, with credits issued on a first-come basis and unused allocations expiring at year end