Testimony: Roger Korenberg and Jim McNichols, Department of Natural Resources Charcoal producers wanted to use this credit along with the charcoal producer tax credit to help offset the costs of environmental regulations. Approximately 500-600 people are employed in the industry. Steve Flick, Show Me Energy Cooperative Expressed support for any tax credit that encouraged renewable energy. Phil Wright, Midwest Alliance for Renewable Energy Expressed support for any tax credit that encouraged renewable energy. Missouri should promote renewable energy through its tax scheme. Brian Brookshire, Missouri Forest Products Association Expressed his support and advocated for maintaining of the Wood Energy Tax Credit. Recommendation: The committee recommends that no new credits be authorized after June 30, 2010. FOXLoanz - Online Payday loans : Fast Approval Short-term credits are available in form of payday loans.
Wood Energy Tax Credit as described in Sections 135.300-135.311, RSMo. Purpose: The credit was originally enacted in 1985 to provide an incentive to sawmills to make fuel pellets from their sawdust instead of letting the sawdust pile up on sawmill property; the credit expired on June 30, 1991. The tax credit was reenacted in 1996 but was changed to extend the eligibility of the credit to include charcoal producers. The credit also encouraged the use of wood pellets as an energy source instead of natural gas. The credit is worth $5 per ton of wood pellets or wood flour produced and is worth $20 for each ton of wood char produced. The EPA has determined that four tons of wood residue is needed to produce one ton of wood char. Documentation of the sale of the processed wood is required to receive the credit. The Department of Natural Resources certifies to the Department of Revenue that a wood energy tax credit applicant qualifies as a wood energy-producing facility.