FIRSTREGULARSESSION
HOUSECOMMITTEESUBSTITUTEFOR
SENATESUBSTITUTEFOR
SENATECOMMITTEESUBSTITUTEFOR
SENATEBILLNO.100
102NDGENERALASSEMBLY
0466H.12C DANARADEMANMILLER,ChiefClerk
ANACT
Torepealsections137.100,143.121,and408.010,RSMo,andtoenactinlieuthereofsixnew
sectionsrelatingtomediumsofexchange.
BeitenactedbytheGeneralAssemblyofthestateofMissouri,asfollows:
SectionA.Sections137.100,143.121,and408.010,RSMo,arerepealedandsixnew
2sectionsenactedinlieuthereof,tobeknownassections30.266,137.100,143.121,408.010,
3408.012,and408.900,toreadasfollows:
30.266.Thestatetreasurermaykeepinthecustodyofthestatetreasuryan
2amountofgoldandsilvergreaterthanorequaltoonepercentofallstatefunds.
3Nothinginthissectionshallrequirethestatetreasurertoinvestanystatefundsina
4mannerinconsistentwithArticleIV,Section15oftheMissouriConstitution.
137.100.Thefollowingsubjectsareexemptfromtaxationforstate,countyorlocal
2purposes:
3 (1)Landsandotherpropertybelongingtothisstate;
4 (2)Landsandotherpropertybelongingtoanycity,countyorotherpolitical
5subdivisioninthisstate,includingmarkethouses,townhallsandotherpublicstructures,with
6theirfurnitureandequipments,andonpublicsquaresandlotskeptopenforhealth,useor
7ornament;
8 (3)Nonprofitcemeteries;
9 (4)Therealestateandtangiblepersonalpropertywhichisusedexclusivelyfor
10agriculturalorhorticulturalsocietiesorganizedinthisstate,includingnot-for-profit
11agribusinessassociations;
EXPLANATION—Matterenclosedinbold-facedbrackets[thus] intheabovebillisnotenactedandis
intendedtobeomittedfromthelaw.Matterinbold-facetypeintheabovebillisproposedlanguage. 12 (5)Allproperty,realandpersonal,actuallyandregularlyusedexclusivelyfor
13religiousworship,forschoolsandcolleges,orforpurposespurelycharitableandnotheldfor
14privateorcorporateprofit,exceptthattheexemptionhereingranteddoesnotincludereal
15propertynotactuallyusedoroccupiedforthepurposeoftheorganizationbutheldorusedas
16investmenteventhoughtheincomeorrentalsreceivedtherefromisusedwhollyforreligious,
17educationalorcharitablepurposes;
18 (6)Householdgoods,furniture,wearingapparelandarticlesofpersonaluseand
19adornment,asdefinedbythestatetaxcommission,ownedandusedbyapersoninhishome
20ordwellingplace;
21 (7)Motorvehiclesleasedforaperiodofatleastoneyeartothisstateortoanycity,
22county,orpoliticalsubdivisionortoanyreligious,educational,orcharitableorganization
23whichhasobtainedanexemptionfromthepaymentoffederalincometaxes,providedthe
24motorvehiclesareusedexclusivelyforreligious,educational,orcharitablepurposes;
25 (8)Realorpersonalpropertyleasedorotherwisetransferredbyaninterstatecompact
26agencycreatedpursuanttosections70.370to70.430orsections238.010to238.100to
27anotherforwhichorwhomsuchpropertyisnotexemptwhenimmediatelyaftertheleaseor
28transfer,theinterstatecompactagencyentersintoaleasebackorotheragreementthatdirectly
29orindirectlygivessuchinterstatecompactagencyarighttouse,control,andpossessthe
30property;provided,however,thatintheeventofaconveyanceofsuchproperty,theinterstate
31compactagencymustretainanoptiontopurchasethepropertyatafuturedateor,withinthe
32limitationsperiodforreverters,thepropertymustrevertbacktotheinterstatecompact
33agency.Propertywillnolongerbeexemptunderthissubdivisionintheeventofa
34conveyanceasofthedate,ifany,when:
35 (a)Therightoftheinterstatecompactagencytouse,control,andpossesstheproperty
36isterminated;
37 (b)Theinterstatecompactagencynolongerhasanoptiontopurchaseorotherwise
38acquiretheproperty;and
39 (c)Therearenoprovisionsforreverterofthepropertywithinthelimitationperiodfor
40reverters;
41 (9)Allproperty,realandpersonal,belongingtoveterans'organizations.Asusedin
42thissection,"veterans'organization"meansanyorganizationofveteranswithacongressional
43charter,thatisincorporatedinthisstate,andthatisexemptfromtaxationundersection501(c)
44(19)oftheInternalRevenueCodeof1986,asamended;
45 (10)Solarenergysystemsnotheldforresale; and
46 (11)Virtualcurrencies.Asusedinthissection,"virtualcurrency"meansany
47typeofdigitalrepresentationofvaluethat:
48 (a)Isusedasamediumofexchange,unitofaccount,orstoreofvalue;and
HCSSSSCSSB100 2 49 (b)IsnotrecognizedaslegaltenderbytheUnitedStatesgovernment.
143.121.1.TheMissouriadjustedgrossincomeofaresidentindividualshallbethe
2taxpayer'sfederaladjustedgrossincomesubjecttothemodificationsinthissection.
3 2.Thereshallbeaddedtothetaxpayer'sfederaladjustedgrossincome:
4 (1)Theamountofanyfederalincometaxrefundreceivedforaprioryearwhich
5resultedinaMissouriincometaxbenefit.Theamountaddedpursuanttothissubdivision
6shallnotincludeanyamountofafederalincometaxrefundattributabletoataxcredit
7reducingataxpayer'sfederaltaxliabilitypursuanttoPublicLaw116-136or116-260,enacted
8bythe116thUnitedStatesCongress,forthetaxyearbeginningonorafterJanuary1,2020,
9andendingonorbeforeDecember31,2020,anddeductedfromMissouriadjustedgross
10incomepursuanttosection143.171.Theamountaddedunderthissubdivisionshallalsonot
11includeanyamountofafederalincometaxrefundattributabletoataxcreditreducinga
12taxpayer'sfederaltaxliabilityunderanyotherfederallawthatprovidesdirecteconomic
13impactpaymentstotaxpayerstomitigatefinancialchallengesrelatedtotheCOVID-19
14pandemic,anddeductedfromMissouriadjustedgrossincomeundersection143.171;
15 (2)Interestoncertaingovernmentalobligationsexcludedfromfederalgrossincome
16by26U.S.C.Section103oftheInternalRevenueCode,asamended.Theprevioussentence
17shallnotapplytointerestonobligationsofthestateofMissourioranyofitspolitical
18subdivisionsorauthoritiesandshallnotapplytotheinterestdescribedinsubdivision(1)of
19subsection3ofthissection.Theamountaddedpursuanttothissubdivisionshallbereduced
20bytheamountsapplicabletosuchinterestthatwouldhavebeendeductibleincomputingthe
21taxableincomeofthetaxpayerexceptonlyfortheapplicationof26U.S.C.Section265ofthe
22InternalRevenueCode,asamended.Thereductionshallonlybemadeifitisatleastfive
23hundreddollars;
24 (3)Theamountofanydeductionthatisincludedinthecomputationoffederal
25taxableincomepursuantto26U.S.C.Section168oftheInternalRevenueCodeasamended
26bytheJobCreationandWorkerAssistanceActof2002totheextenttheamountdeducted
27relatestopropertypurchasedonorafterJuly1,2002,butbeforeJuly1,2003,andtothe
28extenttheamountdeductedexceedstheamountthatwouldhavebeendeductiblepursuantto
2926U.S.C.Section168oftheInternalRevenueCodeof1986asineffectonJanuary1,2002;
30 (4)Theamountofanydeductionthatisincludedinthecomputationoffederal
31taxableincomefornetoperatinglossallowedby26U.S.C.Section172oftheInternal
32RevenueCodeof1986,asamended,otherthanthedeductionallowedby26U.S.C.Section
33172(b)(1)(G)and26U.S.C.Section172(i)oftheInternalRevenueCodeof1986,as
34amended,foranetoperatinglossthetaxpayerclaimsinthetaxyearinwhichthenet
35operatinglossoccurredorcarriesforwardforaperiodofmorethantwentyyearsandcarries
36backwardformorethantwoyears.Anyamountofnetoperatinglosstakenagainstfederal
HCSSSSCSSB100 3 37taxableincomebutdisallowedforMissouriincometaxpurposespursuanttothissubdivision
38afterJune18,2002,maybecarriedforwardandtakenagainstanyincomeontheMissouri
39incometaxreturnforaperiodofnotmorethantwentyyearsfromtheyearoftheinitialloss;
40and
41 (5)FornonresidentindividualsinalltaxableyearsendingonorafterDecember31,
422006,theamountofanypropertytaxespaidtoanotherstateorapoliticalsubdivisionof
43anotherstateforwhichadeductionwasallowedonsuchnonresident'sfederalreturninthe
44taxableyearunlesssuchstate,politicalsubdivisionofastate,ortheDistrictofColumbia
45allowsasubtractionfromincomeforpropertytaxespaidtothisstateforpurposesof
46calculatingincomefortheincometaxforsuchstate,politicalsubdivisionofastate,orthe
47DistrictofColumbia;
48 (6)ForalltaxyearsbeginningonorafterJanuary1,2018,anyinterestexpensepaid
49oraccruedinaprevioustaxableyear,butallowedasadeductionunder26U.S.C.Section
50163,asamended,inthecurrenttaxableyearbyreasonofthecarryforwardofdisallowed
51businessinterestprovisionsof26U.S.C.Section163(j),asamended.Forthepurposesofthis
52subdivision,aninterestexpenseisconsideredpaidoraccruedonlyinthefirsttaxableyearthe
53deductionwouldhavebeenallowableunder26U.S.C.Section163,asamended,ifthe
54limitationunder26U.S.C.Section163(j),asamended,didnotexist.
55 3.Thereshallbesubtractedfromthetaxpayer'sfederaladjustedgrossincomethe
56followingamountstotheextentincludedinfederaladjustedgrossincome:
57 (1)Interestreceivedondepositsheldatafederalreservebankorinterestordividends
58onobligationsoftheUnitedStatesanditsterritoriesandpossessionsorofanyauthority,
59commissionorinstrumentalityoftheUnitedStatestotheextentexemptfromMissouri
60incometaxespursuanttothelawsoftheUnitedStates.Theamountsubtractedpursuantto
61thissubdivisionshallbereducedbyanyinterestonindebtednessincurredtocarrythe
62describedobligationsorsecuritiesandbyanyexpensesincurredintheproductionofinterest
63ordividendincomedescribedinthissubdivision.Thereductionintheprevioussentence
64shallonlyapplytotheextentthatsuchexpensesincludingamortizablebondpremiumsare
65deductedindeterminingthetaxpayer'sfederaladjustedgrossincomeorincludedinthe
66taxpayer'sMissouriitemizeddeduction.Thereductionshallonlybemadeiftheexpenses
67totalatleastfivehundreddollars;
68 (2)Theportionofanygain,fromthesaleorotherdispositionofpropertyhavinga
69higheradjustedbasistothetaxpayerforMissouriincometaxpurposesthanforfederal
70incometaxpurposesonDecember31,1972,thatdoesnotexceedsuchdifferenceinbasis.If
71againisconsideredalong-termcapitalgainforfederalincometaxpurposes,themodification
72shallbelimitedtoone-halfofsuchportionofthegain;
HCSSSSCSSB100 4 73 (3)Theamountnecessarytopreventthetaxationpursuanttothischapterofany
74annuityorotheramountofincomeorgainwhichwasproperlyincludedinincomeorgainand
75wastaxedpursuanttothelawsofMissouriforataxableyearpriortoJanuary1,1973,tothe
76taxpayer,ortoadecedentbyreasonofwhosedeaththetaxpayeracquiredtherighttoreceive
77theincomeorgain,ortoatrustorestatefromwhichthetaxpayerreceivedtheincomeor
78gain;
79 (4)Accumulationdistributionsreceivedbyataxpayerasabeneficiaryofatrusttothe
80extentthatthesameareincludedinfederaladjustedgrossincome;
81 (5)Theamountofanystateincometaxrefundforaprioryearwhichwasincludedin
82thefederaladjustedgrossincome;
83 (6)Theportionofcapitalgainspecifiedinsection135.357thatwouldotherwisebe
84includedinfederaladjustedgrossincome;
85 (7)Theamountthatwouldhavebeendeductedinthecomputationoffederaltaxable
86incomepursuantto26U.S.C.Section168oftheInternalRevenueCodeasineffecton
87January1,2002,totheextentthatamountrelatestopropertypurchasedonorafterJuly1,
882002,butbeforeJuly1,2003,andtotheextentthatamountexceedstheamountactually
89deductedpursuantto26U.S.C.Section168oftheInternalRevenueCodeasamendedbythe
90JobCreationandWorkerAssistanceActof2002;
91 (8)ForalltaxyearsbeginningonorafterJanuary1,2005,theamountofanyincome
92receivedformilitaryservicewhilethetaxpayerservesinacombatzonewhichisincludedin
93federaladjustedgrossincomeandnototherwiseexcludedtherefrom.Asusedinthissection,
94"combatzone"meansanyareawhichthePresidentoftheUnitedStatesbyExecutiveOrder
95designatesasanareainwhichArmedForcesoftheUnitedStatesareorhaveengagedin
96combat.Serviceisperformedinacombatzoneonlyifperformedonorafterthedate
97designatedbythePresidentbyExecutiveOrderasthedateofthecommencingofcombat
98activitiesinsuchzone,andonorbeforethedatedesignatedbythePresidentbyExecutive
99Orderasthedateoftheterminationofcombatantactivitiesinsuchzone;
100 (9)ForalltaxyearsendingonorafterJuly1,2002,withrespecttoqualifiedproperty
101thatissoldorotherwisedisposedofduringataxableyearbyataxpayerandforwhichan
102additionalmodificationwasmadeundersubdivision(3)ofsubsection2ofthissection,the
103amountbywhichadditionalmodificationmadeundersubdivision(3)ofsubsection2ofthis
104sectiononqualifiedpropertyhasnotbeenrecoveredthroughtheadditionalsubtractions
105providedinsubdivision(7)ofthissubsection;
106 (10)ForalltaxyearsbeginningonorafterJanuary1,2014,theamountofany
107incomereceivedaspaymentfromanyprogramwhichprovidescompensationtoagricultural
108producerswhohavesufferedalossastheresultofadisasteroremergency,includingthe:
109 (a)LivestockForageDisasterProgram;
HCSSSSCSSB100 5 110 (b)LivestockIndemnityProgram;
111 (c)EmergencyAssistanceforLivestock,Honeybees,andFarm-RaisedFish;
112 (d)EmergencyConservationProgram;
113 (e)NoninsuredCropDisasterAssistanceProgram;
114 (f)Pasture,Rangeland,ForagePilotInsuranceProgram;
115 (g)AnnualForagePilotProgram;
116 (h)LivestockRiskProtectionInsurancePlan;
117 (i)LivestockGrossMarginInsurancePlan;
118 (11)ForalltaxyearsbeginningonorafterJanuary1,2018,anyinterestexpensepaid
119oraccruedinthecurrenttaxableyear,butnotdeductedasaresultofthelimitationimposed
120under26U.S.C.Section163(j),asamended.Forthepurposesofthissubdivision,aninterest
121expenseisconsideredpaidoraccruedonlyinthefirsttaxableyearthedeductionwouldhave
122beenallowableunder26U.S.C.Section163,asamended,ifthelimitationunder26U.S.C.
123Section163(j),asamended,didnotexist;[and]
124 (12)Onehundredpercentofanyretirementbenefitsreceivedbyanytaxpayerasa
125resultofthetaxpayer'sserviceintheArmedForcesoftheUnitedStates,includingreserve
126componentsandtheNationalGuardofthisstate,asdefinedin32U.S.C.Sections101(3)and
127109,andanyothermilitaryforceorganizedunderthelawsofthisstate;and
128 (13)ForalltaxyearsbeginningonorafterJanuary1,2024,theportionof
129capitalgainonthesaleorexchangeofgoldandsilverthatareotherwiseincludedinthe
130taxpayer'sfederaladjustedgrossincome.
131 4.Thereshallbeaddedtoorsubtractedfromthetaxpayer'sfederaladjustedgross
132incomethetaxpayer'sshareoftheMissourifiduciaryadjustmentprovidedinsection143.351.
133 5.Thereshallbeaddedtoorsubtractedfromthetaxpayer'sfederaladjustedgross
134incomethemodificationsprovidedinsection143.411.
135 6.Inadditiontothemodificationstoataxpayer'sfederaladjustedgrossincomeinthis
136section,tocalculateMissouriadjustedgrossincomethereshallbesubtractedfromthe
137taxpayer'sfederaladjustedgrossincomeanygainrecognizedpursuantto26U.S.C.Section
1381033oftheInternalRevenueCodeof1986,asamended,arisingfromcompulsoryor
139involuntaryconversionofpropertyasaresultofcondemnationortheimminencethereof.
140 7.(1)Asusedinthissubsection,"qualifiedhealthinsurancepremium"meansthe
141amountpaidduringthetaxyearbysuchtaxpayerforanyinsurancepolicyprimarily
142providinghealthcarecoverageforthetaxpayer,thetaxpayer'sspouse,orthetaxpayer's
143dependents.
144 (2)Inadditiontothesubtractionsinsubsection3ofthissection,onehundredpercent
145oftheamountofqualifiedhealthinsurancepremiumsshallbesubtractedfromthetaxpayer's
146federaladjustedgrossincometotheextenttheamountpaidforsuchpremiumsisincludedin
HCSSSSCSSB100 6 147federaltaxableincome.Thetaxpayershallprovidethedepartmentofrevenuewithproofof
148theamountofqualifiedhealthinsurancepremiumspaid.
149 8.(1)BeginningJanuary1,2014,inadditiontothesubtractionsprovidedinthis
150section,onehundredpercentofthecostincurredbyataxpayerforahomeenergyaudit
151conductedbyanentitycertifiedbythedepartmentofnaturalresourcesundersection640.153
152ortheimplementationofanyenergyefficiencyrecommendationsmadeinsuchanauditshall
153besubtractedfromthetaxpayer'sfederaladjustedgrossincometotheextenttheamountpaid
154foranysuchactivityisincludedinfederaltaxableincome.Thetaxpayershallprovidethe
155departmentofrevenuewithasummaryofanyrecommendationsmadeinaqualifiedhome
156energyaudit,thenameandcertificationnumberofthequalifiedhomeenergyauditorwho
157conductedtheaudit,andproofoftheamountpaidforanyactivitiesunderthissubsectionfor
158whichadeductionisclaimed.Thetaxpayershallalsoprovideacopyofthesummaryofany
159recommendationsmadeinaqualifiedhomeenergyaudittothedepartmentofnatural
160resources.
161 (2)Atnotimeshalladeductionclaimedunderthissubsectionbyanindividual
162taxpayerortaxpayersfilingcombinedreturnsexceedonethousanddollarsperyearfor
163individualtaxpayersorcumulativelyexceedtwothousanddollarsperyearfortaxpayers
164filingcombinedreturns.
165 (3)Anydeductionclaimedunderthissubsectionshallbeclaimedforthetaxyearin
166whichthequalifiedhomeenergyauditwasconductedorinwhichtheimplementationofthe
167energyefficiencyrecommendationsoccurred.Ifimplementationoftheenergyefficiency
168recommendationsoccurredduringmorethanoneyear,thedeductionmaybeclaimedinmore
169thanoneyear,subjecttothelimitationsprovidedundersubdivision(2)ofthissubsection.
170 (4)Adeductionshallnotbeclaimedforanyotherwiseeligibleactivityunderthis
171subsectionifsuchactivityqualifiedforandreceivedanyrebateorotherincentivethrougha
172state-sponsoredenergyprogramorthroughanelectriccorporation,gascorporation,electric
173cooperative,ormunicipallyownedutility.
174 9.Theprovisionsofsubsection8ofthissectionshallexpireonDecember31,2020.
408.010.[ThesilvercoinsoftheUnitedStatesareherebydeclaredalegaltender,at
2theirparvalue,fixedbythelawsoftheUnitedStates,andshallbereceivableinpaymentof
3alldebts,publicorprivate,hereaftercontractedinthestateofMissouri;provided,however,
4thatnopersonshallhavetherighttopay,uponanyonedebt,dimesandhalfdimestoan
5amountexceedingtendollars,oroftwentyandtwenty-fivecentpiecesexceedingtwenty
6dollars]1.ThestateofMissourishallacceptgoldandsilvercoinageaslegaltender,at
7spotpriceplusmarketpremium,forpaymentofanydebt,tax,fee,orobligationowed.
8Costsincurredinthecourseofverificationoftheweightandpurityofanygoldorsilver
9coinageduringanysuchtransactionshallbebornebythereceivingentity.
HCSSSSCSSB100 7 10 2.Nopersonorentityshallberequiredtousegoldorsilvercoinageinthe
11paymentofanydebt.
12 3.Nothinginthissectionshallprohibittheuseoffederalreservenotesinthe
13paymentofanydebt.
14 4.Exceptasotherwiseprovidedinsection513.607,undernocircumstanceshall
15thestateofMissourioranydepartment,agency,politicalsubdivision,orinstrumentality
16thereofseizefromanypersonanygoldorsilverthatisownedbysuchperson.Any
17personwhohashisorhergoldorsilverseizedinviolationofthissectionshallhavea
18causeofactioninacourtofcompetentjurisdiction.Anysuccessfulcauseofactionshall
19resultinanawardofattorney'sfees.
408.012.1.ThestateofMissourishallnotrequirepaymentintheformofany
2digitalcurrency.
3 2.Forpurposesofthissection,"digitalcurrency"meansanycurrencyormoney
4thatisprimarilystored,managed,ortransferredbyelectronicmeans.
408.900.1.Forpurposesofthissection,thefollowingtermsshallmean:
2 (1)"Blockchainnetwork",agroupofcomputersworkingtogethertoruna
3consensusmechanismtoagreeuponandverifydatainadigitalrecord;
4 (2)"Digitalasset",anycryptocurrencies,nativelyelectronicassets,including
5stablecoins,nonfungibletokens,andotherdigital-onlyassetsthatconfereconomic,
6proprietary,oraccessrightsorpowers;
7 (3)"Digitalassetmining",usingelectricitytopoweracomputerforthepurpose
8ofsecuringablockchainnetwork;
9 (4)"Digitalassetminingbusiness",agroupofcomputersworkingatasinglesite
10thatconsumesmorethanonemegawattofenergyforthepurposeofgeneratingdigital
11assetsbysecuringablockchainnetwork;
12 (5)"Discriminatoryrates",electricityratessubstantiallydifferentfromother
13industrialusesofelectricityinsimilargeographicareas;
14 (6)"Homedigitalassetmining",miningdigitalassetsinareaszonedfor
15residentialuse;
16 (7)"Moneytransmitter",anyperson,asthattermisdefinedinsection361.700,
17thatissubjecttosections361.700to361.727;
18 (8)"Node",acomputationaldevicethatcontainsacopyofablockchainledger.
19 2.(1)AnypersonmayrunanodeoraseriesofnodesinMissouriforthe
20purposeofhomedigitalassetminingattheperson'sprivateresidence.
21 (2)Apersonorentitymayhaveadigitalassetminingbusinessinanyareainthis
22statethatiszonedforindustrialuse.
HCSSSSCSSB100 8 23 (3)Anypersonengagedinhomedigitalassetminingordigitalassetmining
24businessshallnotbeconsideredamoneytransmitter.
25 3.Apoliticalsubdivisionshallnot:
26 (1)Limitthesounddecibelsgeneratedfromhomedigitalassetminingother
27thanlimitssetforsoundpollutiongenerally;
28 (2)Imposeanyrequirementonadigitalassetminingbusinessthatisnotalsoa
29requirementfordatacentersinsuchpoliticalsubdivision;or
30 (3)Rezonetheareainwhichadigitalassetminingbusinessislocatedwithout
31complyingwithapplicablestateandlocalzoninglawsorrezoneanyareawiththeintent
32oreffectofdiscriminatingagainstadigitalassetminingbusiness.
33 4.Adigitalassetminingbusinessmayappealachangeinzoningpursuanttoany
34applicablestateorlocalzoninglaws.
35 5.Thepublicservicecommissionmaysetratesreflectiveofcosttoserve,but
36shallnotestablisharateschedulefordigitalassetminingthatcreatesdiscriminatory
37ratesfordigitalassetminingbusinesses.
SectionB.IfanyprovisionofsectionAofthisactortheapplicationthereofto
2anyoneortoanycircumstanceisheldinvalid,theremainderofthosesectionsandthe
3applicationofsuchprovisionstoothersorothercircumstancesshallnotbeaffectedthereby.
âś”
HCSSSSCSSB100 9