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Parson signs ag tax credit plan into law

Missouri Governor Mike Parson has signed a $40 million ag tax credit package into law.

At a ceremony Wednesday morning, Parson said the legislation will extend ag-related tax credits through 2028 to help biofuel producers, meat processors, urban farmers, and others in the industry.

“We are proud that we have secured six-year extensions for programs in key agriculture sectors,” the governor said.

Parson says he called for a special legislative session after vetoing a two-year extension to the Missouri Agriculture and Small Business Development Authority tax credits in July.

“I know in the beginning it was rough waters,” he said. “I disappointed them. I know that. But at the end of the day, I knew we could do better. I believed that from the beginning and here we are today.”

The Missouri Senate approved the plan on Tuesday.

POET applauded the plan saying it will increase access to biofuel savings at more fuel pumps across the state.