Testimony: - Peter Yronwode and Jim McNichols, Department of Natural Resources Overall, the program was successful in accomplishing its intended purpose. The Department of Natural Resources performs stack tests to determine the emissions of chemicals in the charcoal smoke as they are released into the air. The eligibility for the credit may have been too lax as some of the companies may have qualified for the credit that may not have been intended by the legislature to receive the credit. Recommendation: The committee recommends no change be made.
ENVIRONMENTAL TAX CREDITS 1. Charcoal Producer Tax Credit as described in Section 135.313, RSMo. Purpose: Charcoal smoke contains chemicals that are toxic or carcinogenic. An afterburner can destroy the harmful chemicals. To provide an incentive to implement safe and efficient environmental controls, a tax credit award of up to 50% of the purchase price for best available control technology equipment was created. The credit was set to terminate 8 years after its inception (1998). The credit could be awarded for purchases of the equipment up until the end of 2005. Credits could be redeemed through 2012 because of the 7 year carry-forward provision built into the credit. The Department of Natural Resources certified the best available technology and the cost associated with building the environmental control device. The Department of Economic Development Awards the credits and the Department of Revenue redeems the credit.