Missouri soybean farmers will finally be receiving a portion of payments for their biodiesel under the Missouri Qualified Biodiesel Producer Incentive Fund. Governor Nixon has released $3 million to reduce the amount of $9.6 million currently owed to Missouri farmers who invested in biodiesel more than a decade ago through the fund. In response, The Missouri Soybean Association (MSA) along with the state’s soybean farmers thanked the governor.
“Biodiesel is an important driver for the soybean market in Missouri, as well as on the national and global levels,” said Missouri Soybean Association President Matt McCrate. “Missouri is a top state for biodiesel production, and benefits greatly from the renewable fuel’s economic and environmental contributions. We appreciate the support of those benefits from our elected leaders, as well as their efforts to make good on commitments to repay that outstanding debt.”
The Missouri Soybean Association’s top legislative priority during the 2016 session was securing the completion of deferred payments within the Missouri Qualified Biodiesel Producer Incentive Fund. That repayment was recommended by Governor Nixon in his 2016 State of the State address and included in HB 2006. The bill was passed during the spring session and signed by Gov. Nixon May 6, 2016 However, Gov. Nixon withheld those funds this summer and earlier this fall.