Modifies provisions relating to the taxation of utility infrastructure

SB 872 updates Missouri laws regarding how utility companies and cable providers are taxed and regulated. The bill primarily affects cable operators, video service providers, and local governments by redefining key terms like "video service" and "gross revenues" to clarify what fees and charges are subject to taxation. It establishes specific rules for calculating revenue, such as excluding certain costs like equipment rentals and advertising income from taxable amounts, while also setting an expiration date for some existing regulations on wireless facilities. Additionally, the legislation modifies how Missouri calculates state income tax by adjusting the treatment of federal tax refunds received by residents.