FIRSTREGULARSESSION
HOUSEBILLNO.579
102NDGENERALASSEMBLY
INTRODUCEDBYREPRESENTATIVESCHNELTING.
0440H.01I DANARADEMANMILLER,ChiefClerk
ANACT
Toamendchapter135,RSMo,byaddingtheretoonenewsectionrelatingtoataxcreditfor
veterans.
BeitenactedbytheGeneralAssemblyofthestateofMissouri,asfollows:
SectionA.Chapter135,RSMo,isamendedbyaddingtheretoonenewsection,tobe
2knownassection135.580,toreadasfollows:
135.580.1.Asusedinthissection,thefollowingtermsmean:
2 (1)"Qualifiedamount",foranyqualifiedtaxpayerinagiventaxyear,an
3amountequaltofivethousanddollarsoranamountuptotheaggregateamountofthe
4qualifiedtaxpayer'srealestateandpersonalpropertytaxburden,whicheverisgreater;
5 (2)"Qualifiedtaxpayer",anyindividualsubjecttothestateincometaximposed
6underchapter143,excludingthewithholdingtaximposedundersections143.191to
7143.265,whoisaveteranorwhoisthesurvivingspouseofsuchveteran;
8 (3)"Taxcredit",acreditagainstthetaxotherwisedueunderchapter143,
9excludingwithholdingtaximposedundersections143.191to143.265;
10 (4)"Veteran",anypersonwhoservedinanybranchoftheArmedForcesofthe
11UnitedStates,includingtheNationalGuardoranyreservecomponentoftheArmed
12Forces,andwasdischargedorreleasedfromserviceunderconditionsotherthan
13dishonorable.Notwithstandinganyotherprovisiontothecontraryandforthepurposes
14ofthissection,theterm"veteran"shallincludetheperson'ssurvivingspouse.
15 2.ForalltaxyearsbeginningonorafterJanuary1,2024,aqualifiedtaxpayer
16shallbeallowedtoclaimanonrefundabletaxcreditagainstthetaxpayer'sstatetax
17liabilityinanamountequaltothetaxpayer'squalifiedamount.
EXPLANATION—Matterenclosedinbold-facedbrackets[thus] intheabovebillisnotenactedandis
intendedtobeomittedfromthelaw.Matterinbold-facetypeintheabovebillisproposedlanguage. 18 3.Iftheamountofthetaxcreditexceedsthetaxpayer'sstatetaxliability,the
19differenceshallnotberefundable.Notaxcreditclaimedunderthissectionshallbe
20carriedforwardtoanysubsequenttaxyear.
21 4.Notaxcreditclaimedunderthissectionshallbeassigned,transferred,sold,or
22otherwiseconveyed.
23 5.Thedepartmentofrevenueshallpromulgateallnecessaryrulesand
24regulationsfortheadministrationofthissectionincluding,butnotlimitedto,rules
25relatingtotheverificationofataxpayer'squalifiedamount.Anyruleorportionofa
26rule,asthattermisdefinedinsection536.010,thatiscreatedundertheauthority
27delegatedinthissectionshallbecomeeffectiveonlyifitcomplieswithandissubjectto
28alloftheprovisionsofchapter536and,ifapplicable,section536.028.Thissectionand
29chapter536arenonseverableandifanyofthepowersvestedwiththegeneralassembly
30pursuanttochapter536toreview,todelaytheeffectivedate,ortodisapproveandannul
31arulearesubsequentlyheldunconstitutional,thenthegrantofrulemakingauthority
32andanyruleproposedoradoptedafterAugust28,2023,shallbeinvalidandvoid.
33 6.Undersection23.253oftheMissourisunsetact:
34 (1)Theprovisionsofthenewprogramauthorizedunderthissectionshall
35automaticallysunsetsixyearsaftertheeffectivedateofthissectionunlessreauthorized
36byanactofthegeneralassembly;
37 (2)Ifsuchprogramisreauthorized,theprogramauthorizedunderthissection
38shallautomaticallysunsettwelveyearsaftertheeffectivedateofthereauthorizationof
39thissection;and
40 (3)ThissectionshallterminateonSeptemberfirstofthecalendaryear
41immediatelyfollowingthecalendaryearinwhichtheprogramauthorizedunderthis
42sectionissunset.
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HB579 2