HB1713--TAXDEDUCTIONFORARMEDFORCESMEMBERS
SPONSOR: Schnelting
COMMITTEEACTION:Voted"DoPass"bytheSpecialCommitteeonTax
Reformbyavoteof9to0.
Currentlawauthorizesanincometaxdeductionforactiveand
reservemembersoftheArmedForcesforapercentageofsuch
taxpayer'sincomereceivedassalaryorcompensationasamemberof
theArmedForces.Thisbillprovidesthattheterm"salaryor
compensation"shallincludeanysigningbonus.
ThisbillissimilartoSB540(2023)
PROPONENTS: Supporterssaythatmilitarysigningbonusesareoften
usedbyanarmedservicemembertobuyafirsthouseorareliable
automobile,whichinturnhelpstosecurethesoldier'sfamily
structure. Supportersfurthersaythatsuchbonusesaremeantto
incentivizeyoungmenandwomentoenlist,orinthealternative,
toretainthosesoldierswhoarealreadyenlisted. Thisis
important,becausebothretentionandrecruitingaredownby30%in
Missouri.
TestifyinginpersonforthebillwereRepresentative Schnelting
andtheMissouriNationalGuardAssociation.
OPPONENTS: Therewasnooppositionvoicedtothecommittee.
Writtentestimonyhasbeensubmittedforthisbill.Thefull
writtentestimonyandwitnessestestifyingonlinecanbefound
underTestimonyonthebillpageontheHousewebsite.