Authorizes an income tax deduction for amounts paid towards tangible personal property taxes

HB 859 creates a new income tax deduction for Missouri taxpayers who pay tangible personal property taxes (such as vehicle or equipment taxes) on their own property. Starting in 2026, eligible individuals can deduct 100% of the actual taxes paid during the tax year (excluding penalties or fees) from their Missouri taxable income. The deduction applies only to taxes not already used for other state tax benefits, and the program expires December 31, 2032, unless reauthorized by the legislature. This directly affects Missouri residents with tangible personal property tax liabilities who file state income tax returns.