HB 2116 modifies Missouri's tax treatment for qualified tuition programs, primarily federal 529 college savings plans. It exempts program assets, income, and refunds for qualified education expenses from state income tax, while allowing taxpayers to deduct up to $8,000 annually (or $16,000 for joint filers) from their state taxable income for contributions. Distributions not used for education expenses or transferred per federal rules would become taxable income. This bill directly affects Missouri residents who use 529 plans for education savings, providing state tax benefits tied to federal program rules.
HB 2409 creates three new Missouri tax credit programs to support child care access. It allows taxpayers (individuals, businesses, and charitable organizations) to claim a 75% tax credit on verified contributions to licensed child care providers or approved nonprofit intermediaries, with credits ranging from $100 to $200,000 annually. To qualify, contributions must be made to providers or intermediaries that first secure approval from Missouri's Department of Economic Development. The tax credits apply to tax years beginning January 1, 2027, and are designed to incentivize financial support for child care services, particularly in underserved areas defined as "child care deserts."
This bill creates a dedicated "Division of Tourism Supplemental Revenue Fund" in Missouri's state treasury, funded primarily by a portion of sales taxes from tourism-related businesses (such as hotels, attractions, and travel services, identified by specific SIC codes). The fund's annual deposits are capped at $3 million more than the previous year's amount and are calculated using tourism sales tax revenue. Before spending from the fund, the Division of Tourism must submit a marketing strategy to legislative committees for review. The fund expires on June 30, 2020, and its money cannot be returned to the general revenue fund at the end of a biennium.
HB 2196 modifies Missouri's tax credit program for motion media productions (like films, series, and digital content) by adjusting credit percentages and adding new requirements. It allows producers to claim a base 20% tax credit on qualifying expenses (e.g., wages, equipment), with up to 5% additional credit for filming in Missouri, rural/blighted areas, hiring Missouri residents for training, or marketing locations. The bill caps annual tax credits at $8 million for film/series through 2026 and $16 million after 2026, requires minimum Missouri employment levels based on project size, and mandates economic impact reports. This directly affects production companies meeting eligibility criteria, including those filming in Missouri with qualifying expenses over $50,000 for short projects or $100,000 for longer works.
HB 1759 modifies how Missouri counties assess personal and real property taxes. It lowers the personal property assessment rate from 33.3% to 30% of current market value for most properties starting in 2027, while maintaining specific lower rates for items like solar panels (5%), historic vehicles (5%), and agricultural crops (0.5%). The bill also updates real property assessment rules, including a provision reducing assessments for airport-related properties where private parties funded improvements. These changes directly affect property owners, county assessors, and local governments managing tax assessments across Missouri.
HB 2531 creates tax credits to incentivize converting old office buildings into residential spaces in Missouri downtowns and Main Street districts. Property owners who substantially convert qualifying office buildings (over 50% residential use) to residential or mixed-use spaces can claim a 25% tax credit on eligible renovation costs, or 30% for upper-floor housing in designated Main Street districts. The credits can be transferred multiple times and carried forward up to ten years if they exceed annual tax liability. The program is capped at $50 million annually, with 50% reserved for large buildings (>750,000 sq ft) and 25% specifically for Main Street upper-floor housing projects. It directly affects developers and property owners undertaking downtown revitalization conversions.
SB 1148 repeals specific taxes that currently apply to the sale of bingo cards. This bill directly affects organizations that sell bingo cards, such as charitable groups or nonprofit entities, by eliminating the tax burden on these sales. The key provision is the removal of existing tax requirements for bingo card transactions, simplifying compliance for these sellers. The bill does not create new rules but removes current tax obligations related to this activity. It is currently pending in the Senate Appropriations Committee after initial readings.
SB 1189 modifies Missouri's laws governing juvenile detention centers, requiring counties to provide separate facilities for minors that prevent contact with adult inmates. It establishes new rules for counties to coordinate shared detention facilities across multiple counties within judicial circuits, with costs prorated based on population. The bill allows counties to impose an additional up to 1% sales tax to fund these facilities, while mandating that detention centers must provide care resembling "good homes" and be overseen by a superintendent appointed by the juvenile court. This directly affects counties (especially third and fourth class), juvenile courts, and children in detention.
This Missouri bill clarifies property tax classifications by defining key terms for residential, agricultural, and commercial property. It explicitly includes short-term rentals (under 30 days) as residential property for tax purposes, excluding them from "transient housing" like hotels. The bill also expands agricultural property to cover urban community gardens and specifies how properties used for multiple purposes (e.g., farming with a home) should be classified. These changes help ensure consistent tax assessments and provide local governments with rules to adjust levies if property classification changes affect revenue.
SB 873 proposes a tax credit for landlords or housing providers who offer shelter to victims of domestic violence. This bill directly affects housing organizations and property owners by providing a financial incentive to support survivors. The key mechanism is a tax credit that offsets the costs associated with providing safe housing, without requiring victims to pay for it directly. The bill is currently in committee review and has not yet been enacted.
