Exempts the retail sale of food from state and local sales and use tax

HB 432 exempts most retail food sales from Missouri's state and local sales taxes starting January 1, 2026, replacing a temporary 1% tax rate that previously applied to food sales through 2025. The bill defines "food" broadly to include items redeemable with SNAP benefits (like groceries), but explicitly excludes restaurants and similar establishments where over 80% of revenue comes from prepared food sold for immediate consumption. Revenue from the current 1% tax rate (through 2025) will continue to fund school district trust funds. This change directly affects grocery stores and retailers selling qualifying food items, while restaurants remain subject to existing sales taxes.