Modifies provisions relating to elections

HB 126 prohibits Missouri public pension systems from using system funds to support or oppose ballot measures or candidates. It establishes new rules for political parties to designate "challengers" at polling places and "watchers" at ballot counting locations, requiring them to be registered voters and limiting their role to reporting suspected election law violations. The bill standardizes election dates, requiring most elections (including general elections) to be held on the first Tuesday after the first Monday in November, with presidential primaries on the first Tuesday in March, while exempting disaster-related bond votes and school tax elections. These changes directly affect pension systems, political parties, election officials, and voters by altering election observation procedures and scheduling.