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MO legislators working to move MASBDA tax credits through House

Ag leaders and state legislators are ready to approve Missouri Agriculture and Small Business Development Authority tax credits in the House and move them to the Senate.

Missouri House Agriculture Policy Chairman Don Rone is in favor of the MASBDA tax credits.

“I sat on the budget [committee] for four years and I saw bad tax credits, but you know what, I never saw a bad ag tax credit,” he said.

Rone tells Brownfield the tax credit would boost corn demand in the state while saving consumers about five cents per gallon of ethanol.

“So, the state pays $5 million and our consumers in the state of Missouri save $20 million,” Rone said. “That to me, as a farm boy, that’s a pretty good bang for your buck.”

Missouri Corn Growers CEO Bradley Schad tells Brownfield the lack of the tax credits, which expired at the end of 2021, are leaving economic opportunity on the table for Missouri agriculture.

“Any new infrastructure being built, those won’t be able to be used for the tax credit,” Schad said. “So, hopefully, we can get this retroactively.”

Rone said he hopes to have an omnibus ag bill that includs the credits approved by the house this week.

Brownfield interviewed Schad at Missouri Corn’s Annual Meeting Wednesday.