Missouri lawmakers will return to Jefferson City later this year for a special session for agricultural tax credit programs. Governor Mike Parson (R) says Missouri’s commodity groups back the special session call. They include Missouri Farm Bureau, the Missouri Cattlemen’s Association and the Missouri Pork Association.
Governor Mike Parson (R) has called the special session, after vetoing House Bill 1720 that would have extended the farm tax credit programs for two years. Click here to read the governor’s veto message. The bill from State Rep. Brad Pollitt (R-Sedalia) passed the House 111-26, and the Senate approved it 28-6.
The governor wants at least a six-year extension.
“Business owners and producers often need a minimum of 24 months in order to secure the equity and private investments needed for projects,” Parson tells Capitol reporters.
The governor says state lawmakers provided longer sunsets this year for numerous other tax credit programs.
“Agriculture in Missouri is the top economic driver. It’s only right that we provide Missouri farmers and ranch families, the foundation of the economy with the same opportunities provided in these other programs,” says Parson.
Governor Parson describes two-year extensions as problematic, saying they reduce the benefit to Missouri’s farmers and ranchers.
Governor Parson also wants lawmakers to exempt certain agricultural equipment from state and local sales tax, during the special session.
Representative Pollitt and State Sen. Jason Bean (R-Holcomb) support the governor’s special session call. Bean handled the Senate version of House Bill 1720.