HB 2449 creates a tax credit for Missouri residents who pay for eligible educational expenses for their children attending qualifying schools. It directly affects parents or guardians of students enrolled in private, parochial, home, or family-paced schools (excluding public schools). The credit covers tuition, textbooks, curriculum materials, tutoring, technology, and educational therapies, but excludes basic supplies like paper/pens and costs tied to public school activities. The credit amount is limited to 100% of eligible expenses or Missouri’s state funding target for education, whichever is lower, and becomes available starting tax year 2027. Taxpayers must submit itemized expense lists and documentation with their state income tax return.
HB 1892 standardizes how local assessors calculate property taxes for business equipment (like machinery and tools) by requiring them to use a federal-based depreciation schedule. It sets specific percentages for reducing the tax value of equipment over time, based on its expected useful life (recovery period), starting from the year the equipment was placed in service. Starting January 1, 2027, the law also applies to stationary real property (such as storage tanks for liquids/gases) used in transportation or storage, requiring assessors to use a 20-year depreciation schedule for these properties. Businesses owning this equipment or property must report its original cost and year placed in service by May 1st each year to support the assessment.
HB 2111 modifies Missouri's income tax calculation by adding certain items back to federal adjusted gross income that were previously subtracted, effectively repealing specific capital gains subtractions. It directly affects Missouri taxpayers who claimed federal deductions or refunds that previously reduced their state taxable income, such as pandemic-related federal tax refunds or certain capital gains. Key provisions include adding back federal tax refunds benefiting Missouri (excluding pandemic credits), interest on specific government bonds, and excess deductions for property purchases (2002-2003) or net operating losses. The bill eliminates prior subtractions for certain capital gains, increasing taxable income for affected taxpayers under Missouri law.
HB 2210 creates a state "Matching Grants for Teachers Plan Fund" to help school districts increase teacher salaries using their own reserve funds. School districts can withdraw money from their reserves for salary increases and receive state matching funds equal to that amount, up to $1 million annually per district. To qualify, districts must maintain at least $100,000 in reserves, cannot deplete reserves below state minimums, and must use existing interest earnings from school funds to supplement salary increases (not replace them). The bill ensures unspent fund balances do not revert to general revenue and requires districts to deposit interest into reserves.
SB 1112 would remove sales tax on breast pump supplies, including items like bottles, shields, and storage containers. This exemption directly affects new mothers, caregivers, and families purchasing these essential products. The bill’s key provision is a specific tax exemption for these medical supplies, making them more affordable. Currently pending in the Senate Economic and Workforce Development Committee, it has not yet been enacted.
SB 845 authorizes a tax credit for businesses and individuals who contribute to certain youth-focused police initiatives. Donors would receive a state income tax reduction equal to their contribution amount. The credit applies only to contributions made to specific programs defined in the bill, such as community outreach or mentorship efforts. This policy change directly affects taxpayers who fund these community safety programs by reducing their tax liability.
HJR 128 proposes a constitutional amendment requiring voter approval for most state and local taxes every 25 years after their initial implementation or last rate change. It mandates that taxes must be submitted to voters at the next general election following the 25-year period, with specific timing rules for taxes already in place. The amendment excludes taxes for bond payments or existing debt, and prohibits ballot summaries from labeling such tax votes as "not a tax increase." This would directly affect taxpayers and lawmakers by making most existing taxes subject to periodic voter re-approval.
SB 1138 would exempt specific professions from paying state income tax. It directly affects individuals working in those designated professions by removing their income tax liability. The bill's key provision is a change to the state tax code to exclude certain professional income from taxable earnings. This is a substantive policy change currently pending before the Senate Economic and Workforce Development Committee. The bill's exact scope of professions is not specified in the available abstract.
HB 2467 would allow Missouri counties to create a property tax exemption for homeowners aged 62 or older who live in their primary residence (homestead). To qualify, individuals must own the property, use it as their main home, and pay the associated taxes. Counties would need to adopt a local ordinance to implement the exemption, which would cover 100% of the homestead’s tax bill starting in 2027. This exemption cannot be transferred, and recipients cannot also claim other property tax benefits or credits under state law.
SB 1096 would authorize a sales tax exemption for specific property sold at auction. It directly affects sellers and buyers of qualifying property (like personal property or certain real estate) during auction sales. The key provision removes the requirement to pay state sales tax on these qualifying auction transactions. This bill focuses on changing the tax treatment for these sales without altering broader tax structures. (Note: The bill is currently in committee review and has not yet passed.)
