SB913 Modifies provisions relating to tax credits

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SS/SB 913 - This act modifies provisions relating to tax credits.

WOOD ENERGY TAX CREDIT
A tax credit for the production of certain wood-energy processed wood products expires on June 30, 2028. This act extends such sunset date to June 30, 2033. (Section 135.305)

MEAT PROCESSING FACILITIES TAX CREDIT
The Meat Processing Facility Investment Tax Credit for the expansion or modernization of meat processing facilities expires on December 31, 2028. This act extends such sunset date to December 31, 2033. (Section 135.686)

HIGHER ETHANOL FUEL TAX CREDIT
A tax credit for the sale of higher ethanol blend fuels expires on December 31, 2028. This act extends such sunset date to December 31, 2033. (Section 135.772)

BIODIESEL RETAIL SALE TAX CREDIT
A tax credit for the sale of biodiesel fuels expires on December 31, 2028. This act extends such sunset date to December 31, 2033.

This act provides that a taxpayer shall not be liable for penalties or interest on an income tax balance due if such taxpayer is denied part or all of a tax credit to which the taxpayer has qualified due to lack of available funds, and such denial causes a balance-due notice to be generated by the Department of Revenue or any other redeeming agency. Such taxpayer shall pay the balance due within sixty days or be subject to penalties and interest pursuant to current law. (Section 135.775)

BIODIESEL PRODUCTION TAX CREDIT
A tax credit for the production of biodiesel fuels expires on December 31, 2028. This act extends such sunset date to December 31, 2033. (Section 135.778)

RAILROAD INFRASTRUCTURE TAX CREDIT
For all tax years beginning on or after January 1, 2027, this act authorizes a tax credit in the amount of fifty percent of an eligible taxpayer's qualified railroad expenditures and qualified new rail infrastructure expenditures. "Qualified railroad expenditures" are defined as gross expenditures for maintenance, reconstruction, or replacement of railroad infrastructure, as described in the act. "Qualified new rail infrastructure expenditures" are defined as gross expenditures for new rail infrastructure, as described in the act.

A tax credit for qualified railroad expenditures shall not exceed $5,000 multiplied by the number of miles of railroad track owned or leased in the state by a railroad, and the total amount of tax credits for qualified railroad expenditures authorized in a calendar year shall not exceed $4.5 million. A tax credit for qualified new rail infrastructure expenditures shall not exceed $1 million for each new rail-served customer project, and the total amount of tax credits for qualified new rail infrastructure expenditures authorized in a calendar year shall not exceed $5 million.

An eligible taxpayer shall submit a certificate of eligibility to the Department of Economic Development after the completion of the qualified railroad expenditures or qualified new rail infrastructure expenditures.

Tax credits authorized by the act shall not be refundable, but may be carried forward for five subsequent tax years. Tax credits may be transferred as described in the act.

This act shall sunset on December 31, 2032, unless reauthorized by the General Assembly. (Section 135.1210)

This provision is identical to SCS/SB 462 (2025) and is substantially similar to HCS/HB 669 (2025), SS/SCS/SB 876 (2024), HB 1824 (2024), SB 385 (2023), and HCS/HB 657 (2023), and to a provision in HCS/SS/SCS/SB 466 (2025), HCS/HB 1935 (2024), and HCS/HB 939 (2023).

URBAN FARMS TAX CREDIT
A tax credit for the establishment or improvement of urban farms expires on December 31, 2028. This act extends such sunset date to December 31, 2033. (Section 135.1610)

ROLLING STOCK TAX CREDIT
A tax credit for eligible expenses incurred in the manufacture, maintenance, or improvement of a freight line company's qualified rolling stock expires on August 28, 2028. This act extends such sunset date to December 31, 2033. (Section 137.1018)

AGRICULTURAL PRODUCTION TAX CREDITS
Tax credits for contributions to the Missouri Agriculture and Small Business Development Authority and investments in new generation cooperatives for the purpose of development of agricultural business expire on December 31, 2028. This act extends such sunset date to December 31, 2033. (Section 348.436)

SPECIALTY AGRICULTURAL CROPS
The "Specialty Agricultural Crops Act" loan program for family farmers and tax credits for lenders expires on December 31, 2028. This act extends such sunset date to December 31, 2033. (Sections 348.491 and 348.493)

This act is substantially similar to provisions in HCS/SS/SCS/SB 466 (2025).
JOSH NORBERG

Senate Substitute