House committee substitute for House bill 1720 passed out of the Standing Committee on Agriculture Policy by a vote of 13 to 0 with one member voting present this past week, according to a release from District 39 Representative Peggy McGaugh.

McGaugh says this bill encompasses many priorities for those in the number one industry in Missouri- Agriculture. She says many of the tax credits affected by the bill have helped spur growth in agricultural products throughout the state and support job creation and retention in the industry. 

McGaugh- who represents residents in Carroll and Chariton Counties in the KMMO listening area- also says the tax credits have helped farmers retain ownership of their products longer and add value to those products. The new tax credits will incentivize the use of renewable fuels produced in the state, which will increase the demand for corn and soybeans across the state. 

This bill is sponsored by Representative Brad Pollitt, of Pettis County, and has the support of leading agriculture organizations such as the Missouri Soybean; Missouri Cattlemen’s; Missouri Forest Products; Missouri Pork and Mo Corn Growers Associations.