HB 2882 creates a state tax credit allowing Missouri taxpayers to reduce their income tax liability by 70% of donations (up to $50,000 annually) to nonprofit organizations providing mental health services to veterans. The credit applies to contributions made to qualified 501(c)(3) organizations meeting specific criteria, including offering comprehensive mental health care through licensed professionals. Taxpayers can carry forward unused credits to the next tax year but cannot claim credits for donations under $100. The program expires after six years unless reauthorized by the legislature.
SB 1537 authorizes a tax credit for individuals who complete specific firearm safety training courses. This credit would reduce the amount of state income tax owed for residents who take qualifying courses. The bill directly affects residents who enroll in these approved training programs by lowering their tax liability. The exact course requirements and credit amount are not specified in the abstract and would be defined through implementing regulations.
HB 2941 creates a state tax credit for eligible Missouri railroads and rail infrastructure owners to offset certain track-related expenses. It allows short line railroads (Class II or III) and rail siding owners to claim a credit equal to 50% of qualified maintenance costs (up to $4.5 million annually) or new infrastructure projects (up to $10 million annually). Unused credits can be carried forward for up to five years or transferred to eligible customers or vendors. This bill directly affects rail companies and infrastructure projects meeting Missouri's specific eligibility criteria, effective for tax years beginning January 1, 2027.
HB 3118 modifies tax credit rules for business contributions to community programs. It allows up to 70% tax credits for donations to approved programs in small communities (under 15,000 residents) or distressed areas, with an annual cap of $6 million. Special provisions apply to affordable housing investments in distressed communities, offering up to 55% tax credits under separate annual limits. The bill affects businesses and financial institutions making qualifying contributions, excluding normal business activities like banking or insurance operations.
HB 2646 creates a Missouri tax credit for interest paid on new vehicle loans for qualifying cars, SUVs, trucks, or motorcycles assembled in Missouri and purchased after 2025. It directly affects Missouri residents who bought such new vehicles for personal use and paid loan interest, allowing them to claim a credit equal to the interest paid (up to $10,000 per year) against their state income tax. The credit phases out for taxpayers earning over $100,000 ($200,000 for joint filers) and excludes loans for commercial vehicles, leases, salvage-title vehicles, or loans to relatives. The credit expires after 2029 unless renewed by the legislature.
HB 3080 modifies Missouri’s historic preservation tax credit program to increase incentives for rehabilitating historic properties. It offers a 35% tax credit for eligible properties in qualifying counties (non-urban areas with high poverty rates), historic schools, or theaters, compared to a 25% credit for other properties. To qualify, rehabilitation costs must exceed 50% of the property’s basis and meet federal Secretary of the Interior standards. The bill also sets a $90 million annual cap on tax credits for non-poverty-area projects and allocates an additional $30 million yearly for projects in high-poverty census tracts.
HB 2869 creates the "Missouri Disabled Veterans Homestead Tax Credit Act," allowing Missouri counties to offer a property tax credit for eligible disabled veterans who own their primary residence. The credit covers up to 100% of real property taxes on a homestead valued at $500,000 or less, for veterans with a 100% permanent and total service-connected disability rating from the U.S. Department of Veterans Affairs. Counties must vote to adopt the program (opt-in), and veterans must own the home as their primary residence (not exceeding five acres) to qualify. The credit is non-refundable, non-transferable, and does not apply if the veteran rents part of the property or qualifies for other tax relief.
HB 3037 modifies Missouri's tax credit program for donations to scholarship organizations, allowing taxpayers to claim a 100% credit for contributions (up to 50% of their state tax liability) toward scholarships. The bill sets a $75 million annual cap on total credits, adjusted yearly based on state education funding changes, with unused credits carryable forward for up to four years. Donors cannot designate which student receives a scholarship, and the program activates only when transportation funding meets specific thresholds tied to 2021 levels. This affects taxpayers donating to educational assistance organizations seeking to fund student scholarships through state tax incentives.
HB 2981 creates a new property tax credit for eligible Missouri homeowners, primarily seniors (65+), disabled individuals, or qualifying married couples, whose property tax bills increase by more than a calculated threshold. It directly affects homeowners with combined income under $70,000 (adjusted annually) who own a homestead without significant non-disability improvements (exceeding 5% of assessed value). The credit offsets tax increases above the "homestead exemption limit" (based on prior-year tax liability changes), calculated separately from existing tax rates. Homeowners must apply annually between April 1 and October 15, providing proof of age, income, and tax payment history, with applications processed by the Department of Revenue. The credit applies only to subclass (1) real property and excludes those already claiming other property tax relief.
HB 2716 creates a Missouri state tax credit for eligible rail entities to cover certain railroad infrastructure costs. It allows short-line railroads (Class II/III), rail siding owners, or port/city rail authorities to claim a 50% credit against their state tax liability for qualified maintenance, reconstruction, or new rail infrastructure expenses like tracks, bridges, or industrial spurs. The credit is capped annually at $4.5 million for maintenance costs and $10 million for new infrastructure projects, with unused credits carryable for up to five years. Taxpayers must submit a certificate to the Missouri Department of Economic Development detailing eligible expenses and track miles, with credits allocated in the order claims are received if annual limits are exceeded.
