House Approves Tax and Loan Incentives for Missouri Farmers

APRIL 7, 2006 - Posted at 8:00 a.m. CST

JEFFERSON CITY, MO - Legislation giving farmers a break on the cost of loans has cleared the Missouri House on a vote of 154-0.  The bill now goes to the Senate.

House Republican Tom Loehner of Koeltztown says the incentives would help farmers increase their production and encourage more people to become farmers.

The bill would waive the first year's interest payments for a loan to buy more livestock and offer a tax credit for how much the farmer would have had to pay for interest.

Farmers would be able to get the loans only once, and only those who bring in less than $250,000 per year or less would be eligible.

(Copyright 2006 by The Associated Press.  All Rights Reserved.)