reglab/statecodes huggingface dataset:
2023 Missouri Revised Statutes › Title XXIII - Corporations, Associations and Partnerships › Chapter 348 - Authorities and Corporations for Economic and Technological Development — Small Businesses › Section 348.266 - Debts incurred not debt of the state — subject to not-for-profit corporation law.

Title XXIII CORPORATIONS, ASSOCIATIONS AND PARTNERSHIPS
Chapter 348
• Effective - 28 Aug 1995
348.266. Debts incurred not debt of the state — subject to not-for-profit corporation law. —
1. Debts incurred by the Missouri technology corporation established pursuant to the authority of sections 348.251 to 348.275 do not represent or constitute a debt of this state within the meaning of the provisions of the constitution or statutes of this state.
2. The Missouri technology corporation established pursuant to sections 348.251 to 348.275 shall be subject to all provisions of chapter 355 which do not conflict with the provisions of sections 348.251 to 348.275.
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(L. 1993 H.B. 566, A.L. 1994 H.B. 1248 & 1048, A.L. 1995 H.B. 414)
2023 Missouri Revised Statutes › Title XXIII - Corporations, Associations and Partnerships › Chapter 348 - Authorities and Corporations for Economic and Technological Development — Small Businesses › Section 348.269 - No limitation on enumerated powers — prior authorization of general assembly for sale of assets — inapplicability of sunset act — severability clause.

Title XXIII CORPORATIONS, ASSOCIATIONS AND PARTNERSHIPS
Chapter 348
• Effective - 03 Feb 2012, see footnote
348.269. No limitation on enumerated powers — prior authorization of general assembly for sale of assets — inapplicability of sunset act — severability clause. —
1. Nothing contained in sections 348.250 to 348.275 shall be construed as a restriction or limitation upon any powers that the corporation might otherwise have under chapter 355, and the provisions of sections 348.250 to 348.275 are cumulative to such powers.
2. Nothing in sections 348.250 to 348.275 shall be construed as allowing the board to sell the corporation or substantially all of the assets of the corporation, or to merge the corporation with another institution, without prior authorization by the general assembly.
3. Notwithstanding the provisions of section 23.253 to the contrary, the provisions of sections 348.250 to 348.275 shall not sunset.
4. The provisions of sections 348.250 to 348.275 shall not terminate before the satisfaction of all outstanding obligations, notes, and bonds provided for under sections 348.250 to 348.275.
5. If any provision of this act
*
or the application thereof is held invalid, the invalidity shall not affect other provisions or applications of the act
*
that can be given effect without the invalid provision or application, and to this end the provisions of this act
*
are severable. Insofar as the provisions of sections 348.250 to 348.275 are inconsistent with the provisions of any other law, general, specific or local, the provisions of sections 348.250 to 348.275 shall be controlling.
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(L. 2011 1st Ex. Sess. S.B. 7)
Contingent effective date, see § 348.280
*"This act" (S.B. 7, 1st Ex. Sess., 2011) contained numerous sections. Consult Disposition of Sections table for a definitive listing.
(2013) Provisions of SB 7 from First Extraordinary Session in 2011 are unconstitutional; section B of act as codified in section 348.280 is a violation of the single subject requirement of Article III, Section 23 and remaining provisions of bill could not be severed. Missouri Roundtable for Life, Inc. v. State, 396 S.W.3d 348 (Mo.banc).
2023 Missouri Revised Statutes › Title XXIII - Corporations, Associations and Partnerships › Chapter 348 - Authorities and Corporations for Economic and Technological Development — Small Businesses › Section 348.271 - Innovation centers to be established to develop new technology-based business duties, reports.

There are multiple enactments of 348.271
Title XXIII CORPORATIONS, ASSOCIATIONS AND PARTNERSHIPS
Chapter 348
• Effective - 28 Aug 1995, 2 histories
*348.271. Innovation centers to be established to develop new technology-based business duties, reports. —
1. In order to foster the growth of Missouri's economy and to stimulate the creation of new jobs in technology-based industry for the state's work force, the Missouri technology corporation, in accordance with the provisions of this section and within the limits of appropriations therefor is authorized to contract with Missouri not-for-profit corporations for the operation of innovation centers within the state. The primary emphasis of some, if not of all innovation centers, shall be in the areas of technology commercialization, finance and business modernization. Innovation centers operated under the provisions of this section shall provide assistance to individuals and business organizations during the early stages of the development of new technology-based business ventures. Such assistance may include the provision of facilities, equipment, administrative and managerial support, planning assistance, and such other services and programs that enhance the development of such ventures and such assistance may be provided for fees or other consideration.
2. The innovation centers operated under this section shall counsel and assist the new technology-based business ventures in finding a suitable site in the state of Missouri for location of the business upon its graduation from the innovation program. Each innovation center shall annually submit a report of its activities to the department of economic development and the Missouri technology corporation which shall include, but not be limited to, the success rate of the businesses graduating from the center, the progress and locations of businesses which have graduated from the center, the types of businesses which have graduated from the center, and the number of jobs created by the businesses involved in the center.
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(L. 1989 H.B. 249 & 47, A.L. 1993 H.B. 566, A.L. 1994 H.B. 1248 & 1048, A.L. 1995 H.B. 414)
*Revisor's Note: This section is reprinted in accordance with section 3.066. S.B. 7, First Extraordinary Session of the 96th General Assembly, 2011, amended this section. S.B. 7 was declared unconstitutional as a violation of the single subject requirement of Article III, Section 23, of the Missouri Constitution (see annotation above), rendering the repeal and reenactment of this section ineffective.
2023 Missouri Revised Statutes › Title XXIII - Corporations, Associations and Partnerships › Chapter 348 - Authorities and Corporations for Economic and Technological Development — Small Businesses › Section 348.280 - Contingent effective date.

Title XXIII CORPORATIONS, ASSOCIATIONS AND PARTNERSHIPS
Chapter 348
• Effective - 03 Feb 2012, see footnote
348.280. Contingent effective date. —
This act
*
relating to science and innovation shall not become effective except upon the passage and approval by signature of the governor only of senate bill no. 8 relating to taxation and enacted during the first extraordinary session of first regular session of the ninety-sixth general assembly.
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(L. 2011 1st Ex. Sess. S.B. 7 § B)
Effective 2-03-12
* "This act" (S.B. 7, 1st Ex. Sess., 2011) contained numerous sections. Consult Disposition of Sections table for a definitive listing.
Revisor's Note: The First Extraordinary Session of the First Regular Session of the Ninety-sixth General Assembly convened on September 6, 2011, and stood automatically adjourned sine die on November 5, 2011, in accordance with Article III, Section 20(b) of the Missouri Constitution. Senate Substitute for Senate Committee Substitute for Senate Bill No. 7 was truly agreed to and finally passed by the General Assembly on September 23, 2011, and was signed by the Governor on October 21, 2011. Senate Bill No. 8 was introduced during the special session but was not truly agreed to and finally passed by the General Assembly prior to its automatic adjournment on November 5, 2011.
(2013) Section is unconstitutional as a violation of the single subject requirement of Article III, Section 23 of the Missouri Constitution. Missouri Roundtable for Life, Inc. v. State, 396 S.W.3d 348 (Mo.banc).
2023 Missouri Revised Statutes › Title XXIII - Corporations, Associations and Partnerships › Chapter 348 - Authorities and Corporations for Economic and Technological Development — Small Businesses › Section 348.302 - Tax credit, evidenced by certificate — may be used when — limitations on credit, credits transferable.

Title XXIII CORPORATIONS, ASSOCIATIONS AND PARTNERSHIPS
Chapter 348
• Effective - 01 Jan 1999, see footnote
348.302. Tax credit, evidenced by certificate — may be used when — limitations on credit, credits transferable. —
1. Any person who makes a qualified contribution to a qualified fund shall be entitled to receive a tax credit equal to fifty percent of the amount of the qualified contribution. The tax credit shall be evidenced by a tax credit certificate in accordance with the provisions of sections 348.300 to 348.318 and may be used to satisfy the state tax liability of the owner of such certificate that becomes due in the tax year in which the qualified contribution is made, or in any of the ten tax years thereafter. No person may receive a tax credit pursuant to sections 348.300 to 348.318 unless that person presents a tax credit certificate to the department of revenue for payment of such state tax liability.
2. The amount of such qualified contributions which can be made is limited so that the aggregate of all tax credits authorized under the provisions of sections 348.300 to 348.318 shall not exceed nine million dollars. All tax credits authorized under the provisions of this section may be transferred, sold or assigned.
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(L. 1986 S.B. 591 § 2, A.L. 1992 S.B. 661 & 620, A.L. 1998 H.B. 1656)
Effective 1-01-99
CROSS REFERENCE:
Tax Credit Accountability Act of 2004, additional requirements, 135.800 to 135.830
2023 Missouri Revised Statutes › Title XXIII - Corporations, Associations and Partnerships › Chapter 348 - Authorities and Corporations for Economic and Technological Development — Small Businesses › Section 348.304 - Certificates, how issued, limitations, exchanges.

Title XXIII CORPORATIONS, ASSOCIATIONS AND PARTNERSHIPS
Chapter 348
• Effective - 18 Jun 1991, see footnote
348.304. Certificates, how issued, limitations, exchanges. —
The total amount of credit evidenced by certificates of tax credit issued to taxpayers at the request of any one qualified economic development organization shall not exceed two million dollars; except that, this two-million-dollar limitation shall not apply to certificates of tax credit issued after January 1, 1996. Prior to January 1, 1996, any qualified economic development organization may enter into a contractual agreement with any other qualified economic development organization to allocate to the latter any portion of the two million dollars of tax credits which it is authorized to issue to taxpayers under the provisions of this section. The certificate of tax credit may be issued in one aggregate certificate or in a reasonable number of multiple certificates in regard to one qualified contribution. Any issued certificate may be surrendered in exchange for new certificates not to exceed in value the value of the issued certificate. The number and denomination of multiple certificates, if issued, shall be determined by the director of the department of economic development.
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(L. 1986 S.B. 591 § 3, A.L. 1991 S.B. 185)
Effective 6-18-91
2023 Missouri Revised Statutes › Title XXIII - Corporations, Associations and Partnerships › Chapter 348 - Authorities and Corporations for Economic and Technological Development — Small Businesses › Section 348.306 - Transfer of certificates, procedure, limitations.

Title XXIII CORPORATIONS, ASSOCIATIONS AND PARTNERSHIPS
Chapter 348
• Effective - 30 May 1986, see footnote
348.306. Transfer of certificates, procedure, limitations. —
No person shall receive, by issuance, transfer or assignment, certificates of tax credit issued under the provisions of sections 348.300 to 348.318
*
in an amount in excess of one million dollars. Subject to the provisions of this section, certificates of tax credit issued in accordance with sections 348.300 to 348.318
*
may be transferred or assigned by notarized endorsement thereof which names the transferee.
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(L. 1986 S.B. 591 § 4)
Effective 5-30-86
*Words "this act" appear in original rolls. S.B. 591 (1986) also contained §§ 100.310 and 100.390.
2023 Missouri Revised Statutes › Title XXIII - Corporations, Associations and Partnerships › Chapter 348 - Authorities and Corporations for Economic and Technological Development — Small Businesses › Section 348.308 - Duties of director of economic development — issuance of certificates.

Title XXIII CORPORATIONS, ASSOCIATIONS AND PARTNERSHIPS
Chapter 348
• Effective - 30 May 1986, see footnote
348.308. Duties of director of economic development — issuance of certificates. —
1. The director of the department of economic development shall be responsible for the administration and issuance of the certificate of tax credits authorized by sections 348.300 to 348.318
*
. The director of the department of economic development shall issue a certificate of tax credit at the request of any qualified economic development organization. Each request shall include a true copy of the documents creating the qualified fund and the interest of the qualified economic development organization in the qualified fund, the name of the person who is to receive a certificate of tax credit, the type of state tax liability, as specified in subdivision (10) of section 348.300, against which the tax credit is to be used, and the amount of the certificate of tax credit to be issued to the person making the qualified contribution. Each request shall be acknowledged under oath by the person making the qualified contribution and the president of the qualified economic development organization.
2. In the event that two or more qualified economic development organizations have an interest in a qualified fund, either or both of such qualified economic development organizations may request issuance of certificates of tax credit in accordance with the provisions of sections 348.300 to 348.318
*
to persons contributing to qualified funds.
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(L. 1986 S.B. 591 § 5)
Effective 5-30-86
*Words "this act" appear in original rolls. S.B. 591 (1986) also contained §§ 100.310 and 100.390.
2023 Missouri Revised Statutes › Title XXIII - Corporations, Associations and Partnerships › Chapter 348 - Authorities and Corporations for Economic and Technological Development — Small Businesses › Section 348.310 - Acceptance of certificate in lieu of payment, reissuance of certificate for amount of unused balance.

Title XXIII CORPORATIONS, ASSOCIATIONS AND PARTNERSHIPS
Chapter 348
• Effective - 30 May 1986, see footnote
348.310. Acceptance of certificate in lieu of payment, reissuance of certificate for amount of unused balance. —
The Missouri department of revenue shall accept a certificate of tax credit in lieu of other payment in such amount as is equal to the lesser of the amount of the tax or the remaining unused amount of the credit as indicated on the certificate of tax credit; and shall indicate on the certificate of tax credit the amount of tax thereby paid, the date of such payment, and the remainder of the unused credit available to the taxpayer after such payment. The certificate of tax credit shall be returned to the director of the department of economic development. The director of the department of economic development shall issue a new certificate to the proper owner for any unused balance.
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(L. 1986 S.B. 591 § 6)
Effective 5-30-86
2023 Missouri Revised Statutes › Title XXIII - Corporations, Associations and Partnerships › Chapter 348 - Authorities and Corporations for Economic and Technological Development — Small Businesses › Section 348.312 - Construction of provisions.

Title XXIII CORPORATIONS, ASSOCIATIONS AND PARTNERSHIPS
Chapter 348
• Effective - 30 May 1986, see footnote
348.312. Construction of provisions. —
No provision of sections 348.300 to 348.318
*
shall be construed to require a qualified economic development organization to accept an interest in any fund, nor shall any provision of sections 348.300 to 348.318
*
be construed to limit or restrict the terms and conditions on which a qualified economic development organization may agree to accept an interest in any fund.
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(L. 1986 S.B. 591 § 7)
Effective 5-30-86
*Words "this act" appear in original rolls. S.B. 591 (1986) also contained §§ 100.310 and 100.390.
2023 Missouri Revised Statutes › Title XXIII - Corporations, Associations and Partnerships › Chapter 348 - Authorities and Corporations for Economic and Technological Development — Small Businesses › Section 348.316 - Report required from qualified funds, when, form, verified by affidavit, contents — duties of director of department of economic development — payment of taxes, due when.

Title XXIII CORPORATIONS, ASSOCIATIONS AND PARTNERSHIPS
Chapter 348
• Effective - 30 May 1986, see footnote
348.316. Report required from qualified funds, when, form, verified by affidavit, contents — duties of director of department of economic development — payment of taxes, due when. —
1. Each qualified fund, on or before the due date of its federal income tax return, shall make a report for a period corresponding to the qualified fund's federal income tax year. The report shall be made on a form required by the department of economic development. It shall be verified by the affidavit of the fund's president, or another authorized officer, to the department of economic development. It shall state the amount of all uninvested capital, whether distributions of equity or funds not invested in qualified investments, and it shall contain other such information as may be required by the director of the department of economic development.
2. Upon the receipt of such returns, the director of the department of economic development shall verify the same and certify the amount of tax due from the various funds to the director of revenue within sixty days from the date of the return. The director of revenue shall send each qualified fund a notice of tax due within thirty days of the date of certification by the department of economic development. The qualified fund shall pay the tax as provided in the notice within thirty days of the date of such notice.
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(L. 1986 S.B. 591 § 9)
Effective 5-30-86
2023 Missouri Revised Statutes › Title XXIII - Corporations, Associations and Partnerships › Chapter 348 - Authorities and Corporations for Economic and Technological Development — Small Businesses › Section 348.318 - Interest and penalty provisions, how determined — procedural matters, how determined.

Title XXIII CORPORATIONS, ASSOCIATIONS AND PARTNERSHIPS
Chapter 348
• Effective - 30 May 1986, see footnote
348.318. Interest and penalty provisions, how determined — procedural matters, how determined. —
Except as otherwise specifically provided in sections 348.300 to 348.318
*
, interest and penalty provisions and procedural matters under the provisions of sections 348.300 to 348.318
*
shall be determined pursuant to and in the manner prescribed in the following sections of the revised statutes of Missouri, the state income tax law, governing similar procedures thereunder: sections 143.271 to 143.301, 143.511, 143.551 to 143.571, 143.611 to 143.751, 143.771, 143.791 to 143.861, 143.881 to 143.971, and 143.986.
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(L. 1986 S.B. 591 § 10)
Effective 5-30-86
*Words "this act" appear in original rolls. S.B. 591 (1986) also contained §§ 100.310 and 100.390.
2023 Missouri Revised Statutes › Title XXIII - Corporations, Associations and Partnerships › Chapter 348 - Authorities and Corporations for Economic and Technological Development — Small Businesses › Section 348.400 - Definitions.

Title XXIII CORPORATIONS, ASSOCIATIONS AND PARTNERSHIPS
Chapter 348
• Effective - 28 Aug 2011
348.400. Definitions. —
As used in sections 348.400 to 348.415, the following terms mean:
(1)
"Agricultural business development loan"
, a loan for the acquisition, construction, improvement, or rehabilitation of agricultural property, or for the expansion, acquisition, construction, improvement, or rehabilitation of a qualifying agribusiness;
(2)
"Agricultural product"
, an agricultural, horticultural, viticultural, or vegetable product, growing of grapes that will be processed into wine, bees, honey, fish or other aquacultural product, planting seed, livestock, a livestock product, a forestry product, poultry or a poultry product, either in its natural or processed state, that has been produced, processed, or otherwise had value added to it in this state;
(3)
"Agricultural property"
, any land and easements and real and personal property, including, but not limited to, buildings, structures, improvements, and equipment which is used in Missouri by Missouri residents or Missouri-based businesses for the purpose of processing, manufacturing, marketing, exporting or adding value to an agricultural product. Agricultural property also includes any land and easements and real and personal property, including, but not limited to, buildings, structures, improvements, equipment and plant stock used for the growing of grapes which will be processed into wine;
(4)
"Authority"
, the Missouri agricultural and small business development authority;
(5)
"Eligible borrower"
, as defined in section 348.015;
(6)
"Eligible lender"
, lender as defined in section 348.015;
(7)
"Fund"
, the agricultural product utilization and business development loan guarantee fund or the agricultural product utilization grant fund;
(8)
"Grant fund"
the agricultural product utilization grant fund;
(9)
"Program fund"
, the agricultural product utilization and business development loan program fund;
(10)
"Qualifying agribusiness"
, any business whose primary customer base is producers of agricultural goods and products or any business whose function is the support of agricultural production or processing by providing goods and services used for producing or processing agricultural products.
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(L. 1997 H.B. 557, A.L. 1998 H.B. 950, A.L. 2011 S.B. 161)
2023 Missouri Revised Statutes › Title XXIII - Corporations, Associations and Partnerships › Chapter 348 - Authorities and Corporations for Economic and Technological Development — Small Businesses › Section 348.403 - Authority to develop program — rules — reject application, when.

Title XXIII CORPORATIONS, ASSOCIATIONS AND PARTNERSHIPS
Chapter 348
• Effective - 28 Aug 1997
348.403. Authority to develop program — rules — reject application, when. —
1. In addition to the duties and powers established in sections 348.005 to 348.225, the authority shall develop and implement an agricultural business development loan guarantee program as provided in sections 348.400 to 348.415. The authority shall promulgate only those rules that are necessary to carry out the stated purposes of sections 348.400 to 348.415. The rules promulgated pursuant to this section shall encourage maximum involvement and participation by lenders and financial institutions in the loan guarantee program. The authority shall implement the loan guarantee program, and may employ such persons as necessary, within the limits of appropriations for that purpose, to administer the loan guarantee program.
2. Any rule or portion of a rule promulgated pursuant to the authority of sections 348.400 to 348.415 shall become effective only if it has been promulgated in compliance with the provisions of chapter 536 as it may be amended from time to time.
3. The authority may reject any application for guaranty pursuant to sections 348.400 to 348.415.
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(L. 1997 H.B. 557)
CROSS REFERENCE:
Rulemaking authority, effective when, null and void, when, 348.426
2023 Missouri Revised Statutes › Title XXIII - Corporations, Associations and Partnerships › Chapter 348 - Authorities and Corporations for Economic and Technological Development — Small Businesses › Section 348.406 - Certificates of guaranty — fee — limitations.

Title XXIII CORPORATIONS, ASSOCIATIONS AND PARTNERSHIPS
Chapter 348
• Effective - 28 Aug 2004
348.406. Certificates of guaranty — fee — limitations. —
1. The authority, upon application, may issue certificates of guaranty covering a first loss guarantee up to but not more than fifty percent of the loan on a declining principal basis for loans to eligible borrowers, executing a note or other evidence of a loan made for the purpose of an agricultural business development loan, but not to exceed the amount of two hundred fifty thousand dollars for any eligible borrower and to pay from the fund to an eligible lender up to fifty percent of the amount on a declining principal basis of any loss on any guaranteed loan made pursuant to the provisions of sections 348.400 to 348.415, in the event of default on the loan. Upon payment on the guarantee, the authority shall be subrogated to all the rights of the eligible lender.
2. The authority shall charge for each guaranteed loan a one-time participation fee of one percent which shall be collected by the eligible lender at the time of closing and paid to the authority. In addition, the authority may charge a special loan guarantee fee of up to one percent per annum of the outstanding principal which shall be collected from the eligible borrower by the eligible lender and paid to the authority.
3. All moneys paid to satisfy a defaulted guaranteed loan shall only be paid out of the fund.
4. The total outstanding guaranteed loans shall at no time exceed an amount which, according to sound actuarial judgment, would allow immediate redemption of twenty percent of the outstanding loans guaranteed by the fund at any one time.
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(L. 1997 H.B. 557, A.L. 1999 H.B. 888, A.L. 2004 S.B. 740, et al.)
2023 Missouri Revised Statutes › Title XXIII - Corporations, Associations and Partnerships › Chapter 348 - Authorities and Corporations for Economic and Technological Development — Small Businesses › Section 348.408 - Agricultural product utilization grant fund established — limitation on grants.

Title XXIII CORPORATIONS, ASSOCIATIONS AND PARTNERSHIPS
Chapter 348
• Effective - 02 Jul 1999, see footnote
348.408. Agricultural product utilization grant fund established — limitation on grants. —
1. There is hereby established in the state treasury the "Agricultural Product Utilization Grant Fund". The fund shall consist of money appropriated to it by the general assembly and investment income on the fund. Notwithstanding the provisions of section 33.080, no portion of the fund shall be transferred to the general revenue fund.
2. The fund shall be administered by the authority.
3. The general assembly may appropriate moneys not to exceed three million dollars annually. In any given year, at least ten percent of the appropriation shall be awarded to grant requests of twenty-five thousand dollars or less. No single rural agricultural business concept shall receive more than two hundred thousand dollars in grant awards from the authority.
4. Moneys in the fund may be invested by the state treasurer, and any income therefrom shall be deposited to the credit of the fund.
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(L. 1997 H.B. 557, A.L. 1999 H.B. 888)
Effective 7-02-99
2023 Missouri Revised Statutes › Title XXIII - Corporations, Associations and Partnerships › Chapter 348 - Authorities and Corporations for Economic and Technological Development — Small Businesses › Section 348.409 - Agricultural product utilization and business loan guarantee fund established.

Title XXIII CORPORATIONS, ASSOCIATIONS AND PARTNERSHIPS
Chapter 348
• Effective - 28 Aug 1997
348.409. Agricultural product utilization and business loan guarantee fund established. —
1. There is hereby established in the state treasury the "Agricultural Product Utilization and Business Development Loan Guarantee Fund". The fund shall consist of money appropriated to it by the general assembly, charges, gifts, grants, bequests from federal, private or other sources, and investment income on the fund. Notwithstanding the provisions of section 33.080, no portion of the fund shall be transferred to the general revenue fund.
2. All moneys received by the authority for payments made on previously defaulted guaranteed loans shall be paid promptly into the state treasury and deposited in the fund.
3. The fund shall be administered by the authority.
4. Beginning with fiscal year 1997-98, the general assembly may appropriate moneys not to exceed two and one-half million dollars for the establishment and initial funding of the fund.
5. Moneys in the fund, both unobligated and obligated as a reserve, which in the judgment of the authority are not currently needed for payments of defaults of guaranteed loans, may be invested by the state treasurer, and any income therefrom shall be deposited to the credit of the fund.
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(L. 1997 H.B. 557)
2023 Missouri Revised Statutes › Title XXIII - Corporations, Associations and Partnerships › Chapter 348 - Authorities and Corporations for Economic and Technological Development — Small Businesses › Section 348.410 - Agricultural product utilization business development loan program fund established — duties of department of agriculture.

Title XXIII CORPORATIONS, ASSOCIATIONS AND PARTNERSHIPS
Chapter 348
• Effective - 02 Jul 1999, see footnote
348.410. Agricultural product utilization business development loan program fund established — duties of department of agriculture. —
1. There is hereby created in the state treasury the "Agricultural Product Utilization Business Development Loan Program Fund". The fund shall consist of money appropriated to it by the general assembly and investment income on the fund. Notwithstanding the provisions of section 33.080, no portion of the fund shall be transferred to the general revenue fund. The money in the program fund shall be used, upon appropriation, for purposes established pursuant to sections 348.400 to 348.415 and for no other purpose. Moneys necessary for this program may be transferred to this program fund from the fund established pursuant to section 348.408.
2. For purposes of this section, the department of agriculture shall, as part of the program administration, establish market promotion activities that assist grant recipients and loan applicants in the planning and marketing of value-added products. The department of agriculture is specifically authorized to employ qualified individuals to fulfill such duties.
3. The department of agriculture shall promote products derived from development facilities and renewable fuel production facilities as defined in section 348.430.
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(L. 1997 H.B. 557, A.L. 1999 H.B. 888)
Effective 7-02-99
2023 Missouri Revised Statutes › Title XXIII - Corporations, Associations and Partnerships › Chapter 348 - Authorities and Corporations for Economic and Technological Development — Small Businesses › Section 348.412 - Use of loan proceeds — eligibility — rules.

Title XXIII CORPORATIONS, ASSOCIATIONS AND PARTNERSHIPS
Chapter 348
• Effective - 28 Aug 2011, 2 histories
348.412. Use of loan proceeds — eligibility — rules. —
1. Eligible borrowers:
(1) Shall use the proceeds of the agricultural business development loan to acquire agricultural property or for the expansion, acquisition, construction, improvement, or rehabilitation of a qualifying agribusiness; and
(2) May not finance more than ninety percent of the anticipated cost of the project through the agricultural business development loan.
2. The project shall have opportunities to succeed in the development, expansion and operation of businesses involved in adding value to, marketing, exporting, processing, or manufacturing agricultural products that will benefit the state economically and socially through direct or indirect job creation or job retention.
3. The authority shall promulgate rules establishing eligibility pursuant to the provisions of sections 348.400 to 348.415, taking into consideration:
(1) The eligible borrower's ability to repay the agricultural business development loan;
(2) The general economic conditions of the area in which the agricultural property will be located;
(3) The prospect of success of the particular project for which the loan is sought; and
(4) Such other factors as the authority may establish.
4. The authority may promulgate rules to provide for:
(1) The requirement or nonrequirement of security or endorsement and the nature thereof;
(2) The manner and time or repayment of the principal and interest;
(3) The maximum rate of interest;
(4) The right of the eligible borrower to accelerate payments without penalty;
(5) The amount of the guaranty charge;
(6) The effective period of the guaranty;
(7) The percent of the agricultural business development loan, not to exceed fifty percent, covered by the guaranty;
(8) The assignability of agricultural business development loans by the eligible lender;
(9) Procedures in the event of default on an agricultural business development loan;
(10) The due diligence effort on the part of eligible lenders for collection of guaranteed loans;
(11) Collection assistance to be provided to eligible lenders; and
(12) The extension of the guaranty in consideration of duty in the Armed Forces, unemployment, natural disasters, or other hardships.
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(L. 1997 H.B. 557, A.L. 2004 S.B. 740, et al., A.L. 2011 S.B. 161)
CROSS REFERENCE:
Rulemaking authority, effective when, null and void, when, 348.426
2023 Missouri Revised Statutes › Title XXIII - Corporations, Associations and Partnerships › Chapter 348 - Authorities and Corporations for Economic and Technological Development — Small Businesses › Section 348.414 - Executive director's powers, compensation — funds and services not to be provided for projects outside state.

Title XXIII CORPORATIONS, ASSOCIATIONS AND PARTNERSHIPS
Chapter 348
• Effective - 02 Jul 1999, see footnote
348.414. Executive director's powers, compensation — funds and services not to be provided for projects outside state. —
1. The executive director of the authority shall act for the authority except that the appeal of the executive director's decisions shall be to the authority.
2. The executive director of the authority shall be paid on a level to be determined by the authority but not to exceed that of a division director of the department of agriculture.
3. The authority shall not provide services or funds for any project not located in this state.
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(L. 1999 H.B. 888)
Effective 7-02-99
2023 Missouri Revised Statutes › Title XXIII - Corporations, Associations and Partnerships › Chapter 348 - Authorities and Corporations for Economic and Technological Development — Small Businesses › Section 348.415 - Collections.

Title XXIII CORPORATIONS, ASSOCIATIONS AND PARTNERSHIPS
Chapter 348
• Effective - 28 Aug 1997
348.415. Collections. —
The authority, by rule, shall determine the policy of collections and recovery of agricultural business development loans, including the use of private collection agencies. The authority may institute action to recover any amount due the state in any loan transaction, use private collection agencies, or otherwise carry out the policy of the authority. The eligible lender making the original loan shall cooperate with the authority in the collection of the agricultural business development loan and shall use its regular collection procedures before any action taken by the authority.
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(L. 1997 H.B. 557)
CROSS REFERENCE:
Rulemaking authority, effective when, null and void, when, 348.426
2023 Missouri Revised Statutes › Title XXIII - Corporations, Associations and Partnerships › Chapter 348 - Authorities and Corporations for Economic and Technological Development — Small Businesses › Section 348.426 - Rules, effective, when — rules invalid and void, when.

Title XXIII CORPORATIONS, ASSOCIATIONS AND PARTNERSHIPS
Chapter 348
• Effective - 28 Aug 1997
348.426. Rules, effective, when — rules invalid and void, when. —
Any rule or portion of a rule promulgated pursuant to this bill
*
shall become effective only as provided pursuant to chapter 536 including but not limited to section 536.028, if applicable, after August 28, 1997. All rulemaking authority delegated prior to August 28, 1997, is of no force and effect and repealed. The provisions of this section are nonseverable and if any of the powers vested with the general assembly pursuant to section 536.028, if applicable, to review, to delay the effective date, or to disapprove and annul a rule or portion of a rule are held unconstitutional or invalid, the purported grant of rulemaking authority and any rule so proposed and contained in the order of rulemaking shall be invalid and void.
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(L. 1997 H.B. 557 § 2)
*"This bill" (H.B. 557, 1997) contained numerous sections. Consult Disposition of Sections table for a definitive listing.
2023 Missouri Revised Statutes › Title XXIII - Corporations, Associations and Partnerships › Chapter 348 - Authorities and Corporations for Economic and Technological Development — Small Businesses › Section 348.434 - Limitations on credits issued.

Title XXIII CORPORATIONS, ASSOCIATIONS AND PARTNERSHIPS
Chapter 348
• Effective - 02 Jul 1999, see footnote
348.434. Limitations on credits issued. —
1. The aggregate of tax credits issued per fiscal year pursuant to sections 348.430 and 348.432 shall not exceed six million dollars.
2. Upon July 2, 1999, and ending June 30, 2000, tax credits shall be issued pursuant to section 348.430, except that, the authority shall allocate no more than three million dollars to fund section 348.432 in fiscal year 2000. Beginning in fiscal year 2001 and each subsequent year, tax credits shall be issued pursuant to section 348.432.
3. Beginning the first day of May of each fiscal year following implementation of section 348.432, the authority may determine the extent of tax credits, pursuant to section 348.432, that will be utilized in each fiscal year. If the authority determines that:
(1) Less than six million dollars for a fiscal year is to be utilized in tax credits pursuant to section 348.432; and
(2) The assets available to the authority, pursuant to section 348.430, do not exceed twelve million dollars; then, the authority may offer the remaining authorized tax credits be issued pursuant to section 348.430.
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(L. 1999 H.B. 888 § 3)
Effective 7-02-99
Expires 12-31-28
2023 Missouri Revised Statutes › Title XXIII - Corporations, Associations and Partnerships › Chapter 348 - Authorities and Corporations for Economic and Technological Development — Small Businesses › Section 348.436 - Expiration date.

Title XXIII CORPORATIONS, ASSOCIATIONS AND PARTNERSHIPS
Chapter 348
• Effective - 02 Jan 2023, 3 histories, see footnote
348.436. Expiration date. —
The provisions of sections 348.430 to 348.436 shall expire December 31, 2028.
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(L. 1999 H.B. 888 § 4, A.L. 2008 H.B. 2058, A.L. 2016 S.B. 665, A.L. 2022 1st Ex. Sess. H.B. 3)
Effective 1-02-23
Expires 12-31-28
2023 Missouri Revised Statutes › Title XXIII - Corporations, Associations and Partnerships › Chapter 348 - Authorities and Corporations for Economic and Technological Development — Small Businesses › Section 348.438 - Departments to provide assistance.

Title XXIII CORPORATIONS, ASSOCIATIONS AND PARTNERSHIPS
Chapter 348
• Effective - 02 Jul 1999, see footnote
348.438. Departments to provide assistance. —
The department of natural resources, the department of economic development and the department of agriculture may provide to an eligible new generation cooperative any technical support necessary to assist in the operation of the facility or the marketing of its products.
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(L. 1999 H.B. 888 § 5)
Effective 7-02-99
2023 Missouri Revised Statutes › Title XXIII - Corporations, Associations and Partnerships › Chapter 348 - Authorities and Corporations for Economic and Technological Development — Small Businesses › Section 348.439 - Oversight and report on credits.

Title XXIII CORPORATIONS, ASSOCIATIONS AND PARTNERSHIPS
Chapter 348
• Effective - 28 Aug 2015
348.439. Oversight and report on credits. —
The tax credits issued in sections 348.430 to 348.439 by the Missouri agricultural and small business development authority shall be subject to oversight provisions. Effective January 1, 2000, notwithstanding the provisions of section 32.057, the authority shall annually report to the office of administration, president pro tem of the senate, and the speaker of the house of representatives regarding the tax credits authorized pursuant to sections 348.430 to 348.439 which were issued in the previous fiscal year. The report shall contain, but not be limited to, the aggregate number and dollar amount of tax credits issued by the authority, the number and dollar amount of tax credits claimed by taxpayers, and the number and dollar amount of tax credits unclaimed by taxpayers as well as the number of years allowed for claims to be made. This report shall be delivered no later than November of each year.
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(L. 1999 H.B. 888 § 6, A.L. 2015 S.B. 58)
2023 Missouri Revised Statutes › Title XXIII - Corporations, Associations and Partnerships › Chapter 348 - Authorities and Corporations for Economic and Technological Development — Small Businesses › Section 348.515 - Recognition of benefit of providing assistance to certain family farm operations.

Title XXIII CORPORATIONS, ASSOCIATIONS AND PARTNERSHIPS
Chapter 348
• Effective - 28 Aug 2008
348.515. Recognition of benefit of providing assistance to certain family farm operations. —
In recognition of the role of animal agriculture in the economic well-being of this state and in recognition that opportunities to succeed in agriculture should not be limited by the economic means of persons engaged in agriculture, the general assembly of the state of Missouri declares that state assistance in the guarantee of loans made to enable independent livestock and poultry family farm operations to succeed in the operation will benefit the state of Missouri economically and socially and is a public purpose of great importance.
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(L. 2008 S.B. 931)
2023 Missouri Revised Statutes › Title XXIII - Corporations, Associations and Partnerships › Chapter 348 - Authorities and Corporations for Economic and Technological Development — Small Businesses › Section 348.518 - Livestock feed and crop input loan guarantee program established — rulemaking authority.

Title XXIII CORPORATIONS, ASSOCIATIONS AND PARTNERSHIPS
Chapter 348
• Effective - 28 Aug 2008
348.518. Livestock feed and crop input loan guarantee program established — rulemaking authority. —
1. In addition to the duties and powers established in sections 348.005 to 348.505, the Missouri agricultural and small business development authority shall develop and implement a livestock feed and crop input loan guarantee program as provided in sections 348.515 to 348.533. The authority may promulgate rules necessary to carry out the purposes of sections 348.515 to 348.533. The rules promulgated under sections 348.515 to 348.533 shall be designed to encourage maximum involvement and participation by lenders and financial institutions in the loan guarantee program. The authority shall be the administrative agency for the implementation of the loan guarantee program, and may employ such persons as necessary, within the limits of appropriations made for that purpose, to administer the loan guarantee program.
2. Any rule or portion of a rule, as that term is defined in section 536.010, that is created under the authority delegated in this section shall become effective only if it complies with and is subject to all of the provisions of chapter 536 and, if applicable, section 536.028. This section and chapter 536 are nonseverable and if any of the powers vested with the general assembly pursuant to chapter 536 to review, to delay the effective date, or to disapprove and annul a rule are subsequently held unconstitutional, then the grant of rulemaking authority and any rule proposed or adopted after August 28, 2008, shall be invalid and void.
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(L. 2008 S.B. 931)
2023 Missouri Revised Statutes › Title XXIII - Corporations, Associations and Partnerships › Chapter 348 - Authorities and Corporations for Economic and Technological Development — Small Businesses › Section 348.521 - Authority to issue certificates of guaranty — eligible lender defined — fee authorized — limit on outstanding guaranteed loans.

Title XXIII CORPORATIONS, ASSOCIATIONS AND PARTNERSHIPS
Chapter 348
• Effective - 28 Aug 2013, 2 histories
348.521. Authority to issue certificates of guaranty — eligible lender defined — fee authorized — limit on outstanding guaranteed loans. —
1. The authority may issue certificates of guaranty covering a first loss guarantee up to but not more than fifty percent of the loan on a declining principal basis for loans to individuals executing a note or other evidence of a loan made for livestock feed and crop input, but not to exceed the amount of one hundred thousand dollars for any one individual and to pay from the livestock feed and crop input loan guarantee fund to an eligible lender up to fifty percent of the amount on a declining principal basis of any loss on any guaranteed loan made under the provisions of sections 348.515 to 348.533, in the event of default on the loan. Upon payment of the loan, the authority shall be subrogated to all the rights of the eligible lender.
2. As used in sections 348.515 to 348.533, the term
"eligible lender"
means those entities defined as lenders under subdivision (8) of section 348.015.
3. The authority shall charge for each guaranteed loan a one-time participation fee of fifty dollars which shall be collected by the lender at the time of closing and paid to the authority. In addition, the authority may charge a special loan guarantee fee of up to one percent per annum of the outstanding principal which shall be collected from the borrower by the lender and paid to the authority. Amounts so collected shall be deposited in the livestock feed and crop input loan program fund and used, upon appropriation, to pay the costs of administering the program.
4. All moneys paid to satisfy a defaulted guaranteed loan shall only be paid out of the livestock feed and crop input loan guarantee fund established by sections 348.515 to 348.533.
5. The total outstanding guaranteed loans shall at no time exceed an amount which, according to sound actuarial judgment, would allow immediate redemption of twenty percent of the outstanding loans guaranteed by the fund at any one time.
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(L. 2008 S.B. 931, A.L. 2013 H.B. 542)
2023 Missouri Revised Statutes › Title XXIII - Corporations, Associations and Partnerships › Chapter 348 - Authorities and Corporations for Economic and Technological Development — Small Businesses › Section 348.524 - Livestock feed and crop input loan guarantee fund established — use of moneys.

Title XXIII CORPORATIONS, ASSOCIATIONS AND PARTNERSHIPS
Chapter 348
• Effective - 28 Aug 2008
348.524. Livestock feed and crop input loan guarantee fund established — use of moneys. —
1. There is hereby established in the state treasury the "Livestock Feed and Crop Input Loan Guarantee Fund". The fund shall consist of money appropriated to it by the general assembly, charges, gifts, grants and bequests from federal, private or other sources. Notwithstanding the provisions of section 33.080, no portion of the fund shall be transferred to the general revenue fund.
2. All moneys received by the authority for payments made on previously defaulted guaranteed loans shall be paid promptly into the state treasury and deposited in the fund.
3. The fund shall be administered by the Missouri agricultural and small business development authority organized under sections 348.005 to 348.180.
4. Beginning with fiscal year 2008-09, the general assembly may appropriate moneys not to exceed four million dollars for the establishment and initial funding of the livestock feed and crop input loan guarantee fund.
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(L. 2008 S.B. 931)