Lawmakers pre-file show me rural jobs act

If passed, the bill will allow Missouri farmers to apply for additional funds upon meeting outlined requirements. Rural bank definition There is also an application fee of $5,000, in addition to a $125 million dollar cap on capital that can be distributed. Regional rural bank meaning According to the bill’s text, the State Treasurer would be in charge of the funds and distribution. Regional rural bank definition The money is set to come from private investors who will get a tax credit in return.

“The idea of rural communities needing investment dollars and needing access to capital is very real,” said owner and operator at Millsap Farm, Curtis Millsap.

Millsap has been running Millsap Farm for 9 years with the help of his family and two full-time employees. Regional rural bank official website Millsap said all farms can have problems getting funding. Rural bank foreclosed properties “When we go to traditional lenders, most of the banks, even banks with the word farm in their name, often times look at you as if you’re from Mars when you talk about borrowing money to do things like farming,” said Millsap. Rural bank internet “I can certainly see how access to capital is an issue for people who are in rural Missouri and certainly that is not helping in the overall employment situation and what people in rural Missouri have to do to make a living.”

“As far as the actual act, concerns I would have would be we seem to be creating another level of bureaucracy,” stated Millsap. Rural bank australia “Which sometimes that could be useful, I can understand, but a lot of times it just ends in more bureaucrats employed, chasing paper trails, and it doesn’t always fulfill the intent of the laws.”

Millsap also expressed concern about who is in charge of the funds. Sugbuanon rural bank “How is this going to be managed? Is this going to be managed with existing personnel? If so, how are they going to take time from what they already do and put that into this?,” asked Millsap.

Millsap’s final concern was about the tax credits and where the money is coming from. Sekyere rural bank “Tax credits sound like a great idea in some ways, because it does seem to pull investment out of nowhere, but there is no such thing as pulling investment out of nowhere. Rural bank interest rates It’s always coming from somewhere. Regional rural bank headquarters If someone’s investing in this part, what are they now not investing in?,” said Millsap.

Millsap concluded the interview by saying, “I don’t know if extra investment will turn the tide, but I suspect it can’t hurt. Akuapem rural bank Anything we can do to get investment back into those local communities is probably going to help.”

KSPR News reached out to state representatives who will be weighing in on the bill but got no response. Adansi rural bank The 2017 legislative session starts Wednesday, January 4.