HB 1774 creates a Missouri state income tax credit for individuals who donate to qualifying local hospital foundations. It allows taxpayers to claim a credit equal to 50% of their donation amount (capped at $2,500 annually per taxpayer), provided the foundation is a 501(c)(3) organization that provides financial relief for unpaid hospital bills in the donor’s area. The credit is non-refundable, cannot exceed total state income tax liability, and has a $2 million annual cap across all taxpayers. This policy directly affects Missouri residents who pay state income tax and make qualifying donations to hospital foundations, aiming to incentivize charitable support for community healthcare access.
HB 2434 establishes eligibility criteria for local governments to implement a transient guest tax (like a hotel tax) for tourism funding. It specifies detailed population and county classification requirements (e.g., cities with 2,500-3,000 residents in certain counties) that must be met for a jurisdiction to adopt such a tax. The bill does not create the tax itself but authorizes qualifying cities or counties meeting these specific demographic thresholds to impose it. It directly affects eligible local governments in Virginia, not individual residents or businesses. The tax would fund tourism-related initiatives within those qualifying jurisdictions.
SB 1485 prohibits certain professional sports entities from receiving tax credits. It directly affects professional sports teams or organizations that would otherwise qualify for state tax credit programs. The bill's key mechanism is a straightforward ban on these entities accessing existing tax credit incentives, without specifying which sports organizations are covered. This is a procedural policy change that would prevent eligible sports entities from using tax credits under current law.
This constitutional amendment resolution proposes to create a real property tax exemption for Missouri seniors meeting specific criteria. It would allow residents aged 65+ who have lived in Missouri for 10 consecutive years to qualify for a tax exemption on their primary home if their income is $100,000 or less (single) or $150,000 or less (married). Surviving spouses aged 55+ who maintain the same residence may also qualify. The General Assembly would set verification rules, exemption caps, and income limits to manage costs, with potential revenue offsets through state grants or adjusted local tax rates.
SB 1231 modifies Missouri's income tax code by adding specific federal tax adjustments to Missouri taxable income. It requires taxpayers to add back certain items excluded from federal taxable income, such as federal tax refunds related to pandemic relief, interest on some government bonds, and specific business deductions (including research-related deductions under federal Section 174 for tax years 2022+). This affects Missouri residents and nonresidents filing state tax returns who claim these federal deductions. The bill does not create new tax deductions but adjusts how existing federal tax items impact Missouri taxable income. It aligns Missouri’s tax base more closely with federal calculations for certain items, effective for tax years beginning in 2022 or later.
HB 2607 modifies Missouri's property tax assessment rules by changing how real and personal property is valued and taxed. It sets specific assessment percentages: 19% for residential property (subclass 1), 12% for commercial property (subclass 2), and 32% for other real property (subclass 3), while lowering rates for certain items like solar equipment (5%) and historic vehicles (5%). The bill includes special rules for property near commercial airports, reducing assessments by costs paid by non-government parties for improvements after 2008, and requires counties to submit annual assessment maintenance plans for approval. These changes directly affect property owners, local assessors, and counties by altering tax calculations and administrative processes for property valuation.
This constitutional amendment (SJR 74) would allow Missouri counties to impose their own local income tax if the state's income tax rate falls below 4.5%, provided voters approve the tax at a general election. It directly affects counties and their residents, as counties could add a local tax up to a combined total of 4.5% with the state rate. Key provisions require county voter approval before implementation, mandate that collected funds (minus 1% for collection costs) go to a dedicated "County Income Tax Trust Fund" for the county, and prohibit state control or appropriation of these funds. The amendment must be approved by voters in November 2026 to take effect.
HB 1621 allows public library districts in specific counties to propose a sales tax to voters for library funding. It applies to counties meeting precise population thresholds (e.g., counties with 13,200-13,300 residents or counties with a city seat of 6,000-7,000 residents), enabling them to seek voter approval for a local sales tax. The bill does not set tax rates but authorizes the process for library districts to submit such measures to the public. This directly affects residents in qualifying counties through potential new local funding for library services.
SB 872 would remove sales tax on essential infant care supplies, such as diapers, formula, and baby wipes, directly benefiting parents and caregivers who purchase these items. The bill establishes a specific exemption from state sales tax for qualifying products used in infant care. This policy change would reduce out-of-pocket costs for families buying daily necessities for newborns and young infants. The bill is currently under review by the Senate Economic and Workforce Development Committee.
SB 1118 modifies how Missouri counties and local governments (like cities, school districts, and counties) adjust property tax rates after reassessments. It requires political subdivisions to revise tax rates for each property subclass and personal property to maintain the same tax revenue as the previous year, excluding new construction and improvements. The bill sets a cap on rate increases at the lower of the consumer price index or 5% annually, while allowing adjustments for inflationary growth in property values. This directly affects local governments that set property tax rates, ensuring revenue stability during reassessment cycles without exceeding voter-approved limits.
