MO SB864

Removes December 31, 2028 sunset dates from multiple agricultural and energy tax credit programs, including the Wood Energy Producer Tax Credit ($6 million annual cap), Meat Processing Facility Investment Tax Credit ($2 million annual cap, 25% credit up to $75,000 per taxpayer), Higher Ethanol Blend Tax Credit ($5 million annual cap), Biodiesel Blend Tax Credit ($16 million annual cap), Missouri Biodiesel Producer Tax Credit ($5.5 million annual cap), Urban Farm Tax Credit ($200,000 annual cap), Freight Line Company Rolling Stock Tax Credit, and Specialty Agricultural Crops Loan Program Tax Credit ($300,000 annual cap)

Creates new Short Line Railroad Tax Credit beginning January 1, 2027, providing 50% credit for qualified railroad track expenditures (capped at $4.5 million annually) and qualified new rail infrastructure expenditures (capped at $5 million annually, with $1 million per project limit)

Allows biodiesel blend tax credits to apply to both on-road and off-road diesel vehicle use, and adds taxpayer protection from penalties and interest when tax credits are denied due to lack of available funds if balance is paid within 60 days

Makes the Meat Processing Facility Investment Tax Credit and Short Line Railroad Tax Credit transferable and assignable, while most other credits in the bill remain non-transferable

Exempts the Meat Processing Facility Investment Tax Credit from the Missouri Sunset Act and establishes a 6-year sunset (with 12-year reauthorization period) for the new Short Line Railroad Tax Credit