West Plains, Mo. – Representative Jason Smith of the Missouri 8th Congressional District submitted House Resolution 4854 in July of this year to help promote locally owned meat processors.
Rep. Smith spoke to Ozark Radio News about the bill:
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This bill allows an investment tax credit through 2026 for 25% of the basis of each livestock processing facility property placed in service during the taxable year. The amount of the credit may not exceed $250,000 in any taxable year and is not available to taxpayers whose gross receipts exceed $100 million in a taxable year.
The bill is cosponsored by Rep. Dusty Johnson of South Dakota.
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