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Missouri House Bill HB433

Missouri 2025 Regular Session

Missouri House Bill HB433 Compare Versions

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11 FIRSTREGULARSESSION
2-HOUSECOMMITTEESUBSTITUTEFOR
3-HOUSEBILLNOS.433&630
2+HOUSEBILLNO.433
43 103RDGENERALASSEMBLY
5-1527H.02C JOSEPHENGLER,ChiefClerk
4+INTRODUCEDBYREPRESENTATIVEHARDWICK.
5+1527H.01I DANARADEMANMILLER,ChiefClerk
66 ANACT
77 Torepealsections143.121and408.010,RSMo,andtoenactinlieuthereoftwonewsections
88 relatingtothesolepurposeofregulatingthetreatmentanduseofgoldandsilver.
99 BeitenactedbytheGeneralAssemblyofthestateofMissouri,asfollows:
1010 SectionA.Sections143.121and408.010,RSMo,arerepealedandtwonewsections
1111 2enactedinlieuthereof,tobeknownassections143.121and408.010,toreadasfollows:
1212 143.121.1.TheMissouriadjustedgrossincomeofaresidentindividualshallbethe
1313 2taxpayer'sfederaladjustedgrossincomesubjecttothemodificationsinthissection.
1414 3 2.Thereshallbeaddedtothetaxpayer'sfederaladjustedgrossincome:
1515 4 (1)Theamountofanyfederalincometaxrefundreceivedforaprioryearwhich
1616 5resultedinaMissouriincometaxbenefit.Theamountaddedpursuanttothissubdivision
1717 6shallnotincludeanyamountofafederalincometaxrefundattributabletoataxcredit
1818 7reducingataxpayer'sfederaltaxliabilitypursuanttoPublicLaw116-136or116-260,enacted
1919 8bythe116thUnitedStatesCongress,forthetaxyearbeginningonorafterJanuary1,2020,
2020 9andendingonorbeforeDecember31,2020,anddeductedfromMissouriadjustedgross
2121 10incomepursuanttosection143.171.Theamountaddedunderthissubdivisionshallalsonot
2222 11includeanyamountofafederalincometaxrefundattributabletoataxcreditreducinga
2323 12taxpayer'sfederaltaxliabilityunderanyotherfederallawthatprovidesdirecteconomic
2424 13impactpaymentstotaxpayerstomitigatefinancialchallengesrelatedtotheCOVID-19
2525 14pandemic,anddeductedfromMissouriadjustedgrossincomeundersection143.171;
2626 15 (2)Interestoncertaingovernmentalobligationsexcludedfromfederalgrossincome
2727 16by26U.S.C.Section103oftheInternalRevenueCode,asamended.Theprevioussentence
2828 17shallnotapplytointerestonobligationsofthestateofMissourioranyofitspolitical
29-18subdivisionsorauthoritiesandshallnotapplytotheinterestdescribedinsubdivision(1)of
3029 EXPLANATION—Matterenclosedinbold-facedbrackets[thus] intheabovebillisnotenactedandis
31-intendedtobeomittedfromthelaw.Matterinbold-facetypeintheabovebillisproposedlanguage. 19subsection3ofthissection.Theamountaddedpursuanttothissubdivisionshallbereduced
30+intendedtobeomittedfromthelaw.Matterinbold-facetypeintheabovebillisproposedlanguage. 18subdivisionsorauthoritiesandshallnotapplytotheinterestdescribedinsubdivision(1)of
31+19subsection3ofthissection.Theamountaddedpursuanttothissubdivisionshallbereduced
3232 20bytheamountsapplicabletosuchinterestthatwouldhavebeendeductibleincomputingthe
3333 21taxableincomeofthetaxpayerexceptonlyfortheapplicationof26U.S.C.Section265ofthe
3434 22InternalRevenueCode,asamended.Thereductionshallonlybemadeifitisatleastfive
3535 23hundreddollars;
3636 24 (3)Theamountofanydeductionthatisincludedinthecomputationoffederal
3737 25taxableincomepursuantto26U.S.C.Section168oftheInternalRevenueCodeasamended
3838 26bytheJobCreationandWorkerAssistanceActof2002totheextenttheamountdeducted
3939 27relatestopropertypurchasedonorafterJuly1,2002,butbeforeJuly1,2003,andtothe
4040 28extenttheamountdeductedexceedstheamountthatwouldhavebeendeductiblepursuantto
4141 2926U.S.C.Section168oftheInternalRevenueCodeof1986asineffectonJanuary1,2002;
4242 30 (4)Theamountofanydeductionthatisincludedinthecomputationoffederal
4343 31taxableincomefornetoperatinglossallowedby26U.S.C.Section172oftheInternal
4444 32RevenueCodeof1986,asamended,otherthanthedeductionallowedby26U.S.C.Section
4545 33172(b)(1)(G)and26U.S.C.Section172(i)oftheInternalRevenueCodeof1986,as
4646 34amended,foranetoperatinglossthetaxpayerclaimsinthetaxyearinwhichthenet
4747 35operatinglossoccurredorcarriesforwardforaperiodofmorethantwentyyearsandcarries
4848 36backwardformorethantwoyears.Anyamountofnetoperatinglosstakenagainstfederal
4949 37taxableincomebutdisallowedforMissouriincometaxpurposespursuanttothissubdivision
5050 38afterJune18,2002,maybecarriedforwardandtakenagainstanyincomeontheMissouri
5151 39incometaxreturnforaperiodofnotmorethantwentyyearsfromtheyearoftheinitialloss;
5252 40and
5353 41 (5)FornonresidentindividualsinalltaxableyearsendingonorafterDecember31,
5454 422006,theamountofanypropertytaxespaidtoanotherstateorapoliticalsubdivisionof
5555 43anotherstateforwhichadeductionwasallowedonsuchnonresident'sfederalreturninthe
5656 44taxableyearunlesssuchstate,politicalsubdivisionofastate,ortheDistrictofColumbia
5757 45allowsasubtractionfromincomeforpropertytaxespaidtothisstateforpurposesof
5858 46calculatingincomefortheincometaxforsuchstate,politicalsubdivisionofastate,orthe
5959 47DistrictofColumbia;
6060 48 (6)ForalltaxyearsbeginningonorafterJanuary1,2018,anyinterestexpensepaid
6161 49oraccruedinaprevioustaxableyear,butallowedasadeductionunder26U.S.C.Section
6262 50163,asamended,inthecurrenttaxableyearbyreasonofthecarryforwardofdisallowed
6363 51businessinterestprovisionsof26U.S.C.Section163(j),asamended.Forthepurposesofthis
6464 52subdivision,aninterestexpenseisconsideredpaidoraccruedonlyinthefirsttaxableyearthe
6565 53deductionwouldhavebeenallowableunder26U.S.C.Section163,asamended,ifthe
6666 54limitationunder26U.S.C.Section163(j),asamended,didnotexist.
67-HCSHBs433&630 2 55 3.Thereshallbesubtractedfromthetaxpayer'sfederaladjustedgrossincomethe
67+HB433 2 55 3.Thereshallbesubtractedfromthetaxpayer'sfederaladjustedgrossincomethe
6868 56followingamountstotheextentincludedinfederaladjustedgrossincome:
6969 57 (1)Interestreceivedondepositsheldatafederalreservebankorinterestordividends
7070 58onobligationsoftheUnitedStatesanditsterritoriesandpossessionsorofanyauthority,
7171 59commissionorinstrumentalityoftheUnitedStatestotheextentexemptfromMissouri
7272 60incometaxespursuanttothelawsoftheUnitedStates.Theamountsubtractedpursuantto
7373 61thissubdivisionshallbereducedbyanyinterestonindebtednessincurredtocarrythe
7474 62describedobligationsorsecuritiesandbyanyexpensesincurredintheproductionofinterest
7575 63ordividendincomedescribedinthissubdivision.Thereductionintheprevioussentence
7676 64shallonlyapplytotheextentthatsuchexpensesincludingamortizablebondpremiumsare
7777 65deductedindeterminingthetaxpayer'sfederaladjustedgrossincomeorincludedinthe
7878 66taxpayer'sMissouriitemizeddeduction.Thereductionshallonlybemadeiftheexpenses
7979 67totalatleastfivehundreddollars;
8080 68 (2)Theportionofanygain,fromthesaleorotherdispositionofpropertyhavinga
8181 69higheradjustedbasistothetaxpayerforMissouriincometaxpurposesthanforfederal
8282 70incometaxpurposesonDecember31,1972,thatdoesnotexceedsuchdifferenceinbasis.If
8383 71againisconsideredalong-termcapitalgainforfederalincometaxpurposes,themodification
8484 72shallbelimitedtoone-halfofsuchportionofthegain;
8585 73 (3)Theamountnecessarytopreventthetaxationpursuanttothischapterofany
8686 74annuityorotheramountofincomeorgainwhichwasproperlyincludedinincomeorgainand
8787 75wastaxedpursuanttothelawsofMissouriforataxableyearpriortoJanuary1,1973,tothe
8888 76taxpayer,ortoadecedentbyreasonofwhosedeaththetaxpayeracquiredtherighttoreceive
8989 77theincomeorgain,ortoatrustorestatefromwhichthetaxpayerreceivedtheincomeor
9090 78gain;
9191 79 (4)Accumulationdistributionsreceivedbyataxpayerasabeneficiaryofatrusttothe
9292 80extentthatthesameareincludedinfederaladjustedgrossincome;
9393 81 (5)Theamountofanystateincometaxrefundforaprioryearwhichwasincludedin
9494 82thefederaladjustedgrossincome;
9595 83 (6)Theportionofcapitalgainspecifiedinsection135.357thatwouldotherwisebe
9696 84includedinfederaladjustedgrossincome;
9797 85 (7)Theamountthatwouldhavebeendeductedinthecomputationoffederaltaxable
9898 86incomepursuantto26U.S.C.Section168oftheInternalRevenueCodeasineffecton
9999 87January1,2002,totheextentthatamountrelatestopropertypurchasedonorafterJuly1,
100100 882002,butbeforeJuly1,2003,andtotheextentthatamountexceedstheamountactually
101101 89deductedpursuantto26U.S.C.Section168oftheInternalRevenueCodeasamendedbythe
102102 90JobCreationandWorkerAssistanceActof2002;
103-HCSHBs433&630 3 91 (8)ForalltaxyearsbeginningonorafterJanuary1,2005,theamountofanyincome
103+HB433 3 91 (8)ForalltaxyearsbeginningonorafterJanuary1,2005,theamountofanyincome
104104 92receivedformilitaryservicewhilethetaxpayerservesinacombatzonewhichisincludedin
105105 93federaladjustedgrossincomeandnototherwiseexcludedtherefrom.Asusedinthissection,
106106 94"combatzone"meansanyareawhichthePresidentoftheUnitedStatesbyExecutiveOrder
107107 95designatesasanareainwhichArmedForcesoftheUnitedStatesareorhaveengagedin
108108 96combat.Serviceisperformedinacombatzoneonlyifperformedonorafterthedate
109109 97designatedbythePresidentbyExecutiveOrderasthedateofthecommencingofcombat
110110 98activitiesinsuchzone,andonorbeforethedatedesignatedbythePresidentbyExecutive
111111 99Orderasthedateoftheterminationofcombatantactivitiesinsuchzone;
112112 100 (9)ForalltaxyearsendingonorafterJuly1,2002,withrespecttoqualifiedproperty
113113 101thatissoldorotherwisedisposedofduringataxableyearbyataxpayerandforwhichan
114114 102additionalmodificationwasmadeundersubdivision(3)ofsubsection2ofthissection,the
115115 103amountbywhichadditionalmodificationmadeundersubdivision(3)ofsubsection2ofthis
116116 104sectiononqualifiedpropertyhasnotbeenrecoveredthroughtheadditionalsubtractions
117117 105providedinsubdivision(7)ofthissubsection;
118118 106 (10)ForalltaxyearsbeginningonorafterJanuary1,2014,theamountofany
119119 107incomereceivedaspaymentfromanyprogramwhichprovidescompensationtoagricultural
120120 108producerswhohavesufferedalossastheresultofadisasteroremergency,includingthe:
121121 109 (a)LivestockForageDisasterProgram;
122122 110 (b)LivestockIndemnityProgram;
123123 111 (c)EmergencyAssistanceforLivestock,Honeybees,andFarm-RaisedFish;
124124 112 (d)EmergencyConservationProgram;
125125 113 (e)NoninsuredCropDisasterAssistanceProgram;
126126 114 (f)Pasture,Rangeland,ForagePilotInsuranceProgram;
127127 115 (g)AnnualForagePilotProgram;
128128 116 (h)LivestockRiskProtectionInsurancePlan;
129129 117 (i)LivestockGrossMarginInsurancePlan;
130130 118 (11)ForalltaxyearsbeginningonorafterJanuary1,2018,anyinterestexpensepaid
131131 119oraccruedinthecurrenttaxableyear,butnotdeductedasaresultofthelimitationimposed
132132 120under26U.S.C.Section163(j),asamended.Forthepurposesofthissubdivision,aninterest
133133 121expenseisconsideredpaidoraccruedonlyinthefirsttaxableyearthedeductionwouldhave
134134 122beenallowableunder26U.S.C.Section163,asamended,ifthelimitationunder26U.S.C.
135135 123Section163(j),asamended,didnotexist;
136136 124 (12)Onehundredpercentofanyretirementbenefitsreceivedbyanytaxpayerasa
137137 125resultofthetaxpayer'sserviceintheArmedForcesoftheUnitedStates,includingreserve
138138 126componentsandtheNationalGuardofthisstate,asdefinedin32U.S.C.Sections101(3)and
139139 127109,andanyothermilitaryforceorganizedunderthelawsofthisstate;[and]
140-HCSHBs433&630 4 128 (13)ForalltaxyearsbeginningonorafterJanuary1,2022,onehundredpercentof
140+HB433 4 128 (13)ForalltaxyearsbeginningonorafterJanuary1,2022,onehundredpercentof
141141 129anyfederal,state,orlocalgrantmoneysreceivedbythetaxpayerifthegrantmoneywas
142142 130disbursedfortheexpresspurposeofprovidingorexpandingaccesstobroadbandinternetto
143143 131areasofthestatedeemedtobelackingsuchaccess; and
144144 132 (14)ForalltaxyearsbeginningonorafterJanuary1,2026,theportionof
145145 133capitalgainsonthesaleorexchangeofspecie,asthattermisdefinedinsection408.010,
146146 134thatareotherwiseincludedinthetaxpayer'sfederaladjustedgrossincome.
147147 135 4.Thereshallbeaddedtoorsubtractedfromthetaxpayer'sfederaladjustedgross
148148 136incomethetaxpayer'sshareoftheMissourifiduciaryadjustmentprovidedinsection143.351.
149149 137 5.Thereshallbeaddedtoorsubtractedfromthetaxpayer'sfederaladjustedgross
150150 138incomethemodificationsprovidedinsection143.411.
151151 139 6.Inadditiontothemodificationstoataxpayer'sfederaladjustedgrossincomeinthis
152152 140section,tocalculateMissouriadjustedgrossincomethereshallbesubtractedfromthe
153153 141taxpayer'sfederaladjustedgrossincomeanygainrecognizedpursuantto26U.S.C.Section
154154 1421033oftheInternalRevenueCodeof1986,asamended,arisingfromcompulsoryor
155155 143involuntaryconversionofpropertyasaresultofcondemnationortheimminencethereof.
156156 144 7.(1)Asusedinthissubsection,"qualifiedhealthinsurancepremium"meansthe
157157 145amountpaidduringthetaxyearbysuchtaxpayerforanyinsurancepolicyprimarily
158158 146providinghealthcarecoverageforthetaxpayer,thetaxpayer'sspouse,orthetaxpayer's
159159 147dependents.
160160 148 (2)Inadditiontothesubtractionsinsubsection3ofthissection,onehundredpercent
161161 149oftheamountofqualifiedhealthinsurancepremiumsshallbesubtractedfromthetaxpayer's
162162 150federaladjustedgrossincometotheextenttheamountpaidforsuchpremiumsisincludedin
163163 151federaltaxableincome.Thetaxpayershallprovidethedepartmentofrevenuewithproofof
164164 152theamountofqualifiedhealthinsurancepremiumspaid.
165165 153 8.(1)BeginningJanuary1,2014,inadditiontothesubtractionsprovidedinthis
166166 154section,onehundredpercentofthecostincurredbyataxpayerforahomeenergyaudit
167167 155conductedbyanentitycertifiedbythedepartmentofnaturalresourcesundersection640.153
168168 156ortheimplementationofanyenergyefficiencyrecommendationsmadeinsuchanauditshall
169169 157besubtractedfromthetaxpayer'sfederaladjustedgrossincometotheextenttheamountpaid
170170 158foranysuchactivityisincludedinfederaltaxableincome.Thetaxpayershallprovidethe
171171 159departmentofrevenuewithasummaryofanyrecommendationsmadeinaqualifiedhome
172172 160energyaudit,thenameandcertificationnumberofthequalifiedhomeenergyauditorwho
173173 161conductedtheaudit,andproofoftheamountpaidforanyactivitiesunderthissubsectionfor
174174 162whichadeductionisclaimed.Thetaxpayershallalsoprovideacopyofthesummaryofany
175175 163recommendationsmadeinaqualifiedhomeenergyaudittothedepartmentofnatural
176176 164resources.
177-HCSHBs433&630 5 165 (2)Atnotimeshalladeductionclaimedunderthissubsectionbyanindividual
177+HB433 5 165 (2)Atnotimeshalladeductionclaimedunderthissubsectionbyanindividual
178178 166taxpayerortaxpayersfilingcombinedreturnsexceedonethousanddollarsperyearfor
179179 167individualtaxpayersorcumulativelyexceedtwothousanddollarsperyearfortaxpayers
180180 168filingcombinedreturns.
181181 169 (3)Anydeductionclaimedunderthissubsectionshallbeclaimedforthetaxyearin
182182 170whichthequalifiedhomeenergyauditwasconductedorinwhichtheimplementationofthe
183183 171energyefficiencyrecommendationsoccurred.Ifimplementationoftheenergyefficiency
184184 172recommendationsoccurredduringmorethanoneyear,thedeductionmaybeclaimedinmore
185185 173thanoneyear,subjecttothelimitationsprovidedundersubdivision(2)ofthissubsection.
186186 174 (4)Adeductionshallnotbeclaimedforanyotherwiseeligibleactivityunderthis
187187 175subsectionifsuchactivityqualifiedforandreceivedanyrebateorotherincentivethrougha
188188 176state-sponsoredenergyprogramorthroughanelectriccorporation,gascorporation,electric
189189 177cooperative,ormunicipallyownedutility.
190190 178 9.Theprovisionsofsubsection8ofthissectionshallexpireonDecember31,2020.
191191 179 10.(1)Asusedinthissubsection,thefollowingtermsmean:
192192 180 (a)"Beginningfarmer",ataxpayerwho:
193193 181 a.HasfiledatleastonebutnotmorethantenInternalRevenueServiceScheduleF
194194 182(Form1040)ProfitorLossFromFarmingformssinceturningeighteenyearsofage;
195195 183 b.IsapprovedforabeginningfarmerloanthroughtheUSDAFarmServiceAgency
196196 184BeginningFarmerdirectorguaranteedloanprogram;
197197 185 c.Hasafarmingoperationthatisdeterminedbythedepartmentofagriculturetobe
198198 186newproductionagriculturebutistheprincipaloperatorofafarmandhassubstantialfarming
199199 187knowledge;or
200200 188 d.Hasbeendeterminedbythedepartmentofagriculturetobeaqualifiedfamily
201201 189member;
202202 190 (b)"Farmowner",anindividualwhoownsfarmlandanddisposesoforrelinquishes
203203 191useofallorsomeportionofsuchfarmlandasfollows:
204204 192 a.Asaletoabeginningfarmer;
205205 193 b.Aleaseorrentalagreementnotexceedingtenyearswithabeginningfarmer;or
206206 194 c.Acrop-sharearrangementnotexceedingtenyearswithabeginningfarmer;
207207 195 (c)"Qualifiedfamilymember",anindividualwhoisrelatedtoafarmownerwithin
208208 196thefourthdegreebyblood,marriage,oradoptionandwhoispurchasingorleasingorisina
209209 197crop-sharearrangementforlandfromalloraportionofsuchfarmowner'sfarmingoperation.
210210 198 (2)(a)Inadditiontoallothersubtractionsauthorizedinthissection,ataxpayerwho
211211 199isafarmownerwhosellsalloraportionofsuchfarmlandtoabeginningfarmermaysubtract
212212 200fromsuchtaxpayer'sMissouriadjustedgrossincomeanamounttotheextentincludedin
213213 201federaladjustedgrossincomeasprovidedinthissubdivision.
214-HCSHBs433&630 6 202 (b)Subjecttothelimitationsinparagraph(c)ofthissubdivision,theamountthatmay
214+HB433 6 202 (b)Subjecttothelimitationsinparagraph(c)ofthissubdivision,theamountthatmay
215215 203besubtractedshallbeequaltotheportionofcapitalgainsreceivedfromthesaleofsuch
216216 204farmlandthatsuchtaxpayerreceivesinthetaxyearforwhichsuchtaxpayersubtractssuch
217217 205capitalgain.
218218 206 (c)Ataxpayermaysubtractthefollowingamountsandpercentagespertaxyearin
219219 207totalcapitalgainsreceivedfromthesaleofsuchfarmlandunderthissubdivision:
220220 208 a.Forthefirsttwomilliondollarsreceived,onehundredpercent;
221221 209 b.Forthenextonemilliondollarsreceived,eightypercent;
222222 210 c.Forthenextonemilliondollarsreceived,sixtypercent;
223223 211 d.Forthenextonemilliondollarsreceived,fortypercent;and
224224 212 e.Forthenextonemilliondollarsreceived,twentypercent.
225225 213 (d)Thedepartmentofrevenueshallprepareanannualreportreviewingthecostsand
226226 214benefitsandcontainingstatisticalinformationregardingthesubtractionofcapitalgains
227227 215authorizedunderthissubdivisionfortheprevioustaxyearincluding,butnotlimitedto,the
228228 216totalamountofallcapitalgainssubtractedandthenumberoftaxpayerssubtractingsuch
229229 217capitalgains.SuchreportshallbesubmittedbeforeFebruaryfirstofeachyeartothe
230230 218committeeonagriculturepolicyoftheMissourihouseofrepresentativesandthecommittee
231231 219onagriculture,foodproductionandoutdoorresourcesoftheMissourisenate,orthesuccessor
232232 220committees.
233233 221 (3)(a)Inadditiontoallothersubtractionsauthorizedinthissection,ataxpayerwho
234234 222isafarmownerwhoentersaleaseorrentalagreementforalloraportionofsuchfarmland
235235 223withabeginningfarmermaysubtractfromsuchtaxpayer'sMissouriadjustedgrossincomean
236236 224amounttotheextentincludedinfederaladjustedgrossincomeasprovidedinthis
237237 225subdivision.
238238 226 (b)Subjecttothelimitationinparagraph(c)ofthissubdivision,theamountthatmay
239239 227besubtractedshallbeequaltotheportionofcashrentincomereceivedfromtheleaseor
240240 228rentalofsuchfarmlandthatsuchtaxpayerreceivesinthetaxyearforwhichsuchtaxpayer
241241 229subtractssuchincome.
242242 230 (c)Notaxpayershallsubtractmorethantwenty-fivethousanddollarspertaxyearin
243243 231totalcashrentincomereceivedfromtheleaseorrentalofsuchfarmlandunderthis
244244 232subdivision.
245245 233 (4)(a)Inadditiontoallothersubtractionsauthorizedinthissection,ataxpayerwho
246246 234isafarmownerwhoentersacrop-sharearrangementonalloraportionofsuchfarmlandwith
247247 235abeginningfarmermaysubtractfromsuchtaxpayer'sMissouriadjustedgrossincomean
248248 236amounttotheextentincludedinfederaladjustedgrossincomeasprovidedinthis
249249 237subdivision.
250-HCSHBs433&630 7 238 (b)Subjecttothelimitationinparagraph(c)ofthissubdivision,theamountthatmay
250+HB433 7 238 (b)Subjecttothelimitationinparagraph(c)ofthissubdivision,theamountthatmay
251251 239besubtractedshallbeequaltotheportionofincomereceivedfromthecrop-share
252252 240arrangementonsuchfarmlandthatsuchtaxpayerreceivesinthetaxyearforwhichsuch
253253 241taxpayersubtractssuchincome.
254254 242 (c)Notaxpayershallsubtractmorethantwenty-fivethousanddollarspertaxyearin
255255 243totalincomereceivedfromtheleaseorrentalofsuchfarmlandunderthissubdivision.
256256 244 (5)Thedepartmentofagricultureshall,byrule,establishaprocesstoverifythata
257257 245taxpayerisabeginningfarmerforpurposesofthissectionandshallprovideverificationto
258258 246thebeginningfarmerandfarmsellerofsuchfarmer'sandseller'scertificationand
259259 247qualificationfortheexemptionprovidedinthissubsection.
260-408.010.[ThesilvercoinsoftheUnitedStatesareherebydeclareda]1.Thissection
261-2shallbeknownandmaybecitedasthe"ConstitutionalMoneyAct".
260+408.010.[ThesilvercoinsoftheUnitedStatesareherebydeclareda]1.This
261+2sectionshallbeknownandmaybecitedasthe"ConstitutionalMoneyAct".
262262 3 2.Specielegaltenderandelectroniccurrencyshallbeacceptedaslegaltender[, at
263263 4theirparvalue,fixedbythelawsoftheUnitedStates,andshallbereceivablein]forpayment
264264 5ofallpublicdebts[, publicorprivate,] hereaftercontractedinthestateofMissouri[;
265265 6provided,however,thatnopersonshallhavetherighttopay,uponanyonedebt,dimesand
266266 7halfdimestoanamountexceedingtendollars,oroftwentyandtwenty-fivecentpieces
267267 8exceedingtwentydollars] andmaybeacceptedaspaymentforallprivatedebtshereafter
268268 9contractedinthestateofMissouri,inthediscretionofthereceivingentity.
269269 10 3.Thedirectorofthedepartmentofrevenueshallpromulgaterulesonthe
270270 11methodsofacceptanceofspecielegaltenderaspaymentforanydebt,tax,fee,or
271271 12obligationowed.Costsincurredinthecourseofverificationoftheweightandpurityof
272272 13anyspecielegaltenderorelectroniccurrencyduringanysuchtransactionshallbe
273273 14bornebythereceivingentity.Anyruleorportionofarule,asthattermisdefinedin
274274 15section536.010,thatiscreatedundertheauthoritydelegatedinthissubsectionshall
275275 16becomeeffectiveonlyifitcomplieswithandissubjecttoalloftheprovisionsofchapter
276276 17536and,ifapplicable,section536.028.Thissubsectionandchapter536are
277277 18nonseverableandifanyofthepowersvestedwiththegeneralassemblypursuantto
278278 19chapter536toreview,todelaytheeffectivedate,ortodisapproveandannularuleare
279279 20subsequentlyheldunconstitutional,thenthegrantofrulemakingauthorityandanyrule
280280 21proposedoradoptedafterAugust28,2025,shallbeinvalidandvoid.
281281 22 4.Exceptasexpresslyprovidedbycontract,nopersonorentityshallberequired
282282 23tousespecielegaltenderorelectroniccurrencyinthepaymentofanydebtandnothing
283283 24inthissectionshallprohibittheuseoffederalreservenotesinthepaymentofanydebt.
284284 25 5.Anyentitydoingbusinessinthisstatemay,ifrequestedbyanemployee,pay
285285 26compensationtosuchemployee,infullorinpart,inthedollarequivalentspecielegal
286286 27tendereitherinphysicalorinelectronictransferform.Anyentitychoosingto
287-HCSHBs433&630 8 28compensateitsemployeesinspecielegaltendershallberesponsibleforverifyingthe
287+HB433 8 28compensateitsemployeesinspecielegaltendershallberesponsibleforverifyingthe
288288 29weightandpurityofanyphysicalspecielegaltenderbeforecompensatingemployees.
289289 30 6.UndernocircumstanceshallthestateofMissourioranydepartment,agency,
290290 31court,politicalsubdivision,orinstrumentalitythereof:
291291 32 (1)Seizefromanypersonanyspecielegaltenderorelectroniccurrencythatis
292292 33ownedbysuchperson,exceptasotherwiseprovidedinsection513.607.Anyperson
293293 34whosespecielegaltenderorelectroniccurrencyisseizedinviolationofthissubdivision
294-35shallhaveacauseofactioninacourtofcompetentjurisdiction,withanysuccessfulsuch
294+35shallhaveacauseofactioninacourtofcompetentjurisdiction,withanysuchsuccessful
295295 36actionresultingintheawardofattorney'sfees;
296296 37 (2)Enforceorattempttoenforceanyfederalacts,laws,executiveorders,
297297 38administrativeorders,rules,regulations,statutes,orordinancesinfringingontheright
298298 39ofapersontokeepandusespecielegaltenderandelectroniccurrencyasprovidedin
299299 40thissection;
300300 41 (3)Restrictinanywaytheabilityofapersonorfinancialinstitutiontoacquire
301301 42specielegaltenderorelectroniccurrencyorusespecielegaltenderorelectronic
302302 43currencyintransactions;or
303303 44 (4)Enactanylawdiscriminatingorfavoringonemeansoflegaltenderinthe
304304 45courseofatransactionoveranothermeansoflegaltender.
305305 46 7.Forpurposesofthissection,thefollowingtermsmean:
306306 47 (1)"Bullion",refinedpreciousmetal,limitedtogoldandsilveronly,inany
307307 48shapeorform,withuniformcontentandpurity,including,butnotlimitedto,coins,
308308 49rounds,bars,ingots,andanyotherproducts,thatare:
309309 50 (a)Stampedorimprintedwiththeweightandpurityofthepreciousmetalthatit
310310 51contains;and
311311 52 (b)Valuedprimarilybasedonitsmetalcontentandnotonitsformand
312312 53function;
313313 54 (2)"Electroniccurrency",arepresentationofactualgoldandsilver,specie,and
314-55bullionheldinanaccount,whichmaybetransferredbyelectronicinstruction.Such
315-56representationshallreflecttheexactunitofphysicalspecieorgoldandsilverbullionin
316-57theaccountinitsfractionaltroyouncemeasurementasprovidedinthissection;
317-58 (3)"Legaltender",arecognizedmediumofexchangeforthepaymentofdebts,
318-59publiccharges,taxes,orduesthatis:
319-60 (a)AuthorizedbytheUnitedStatesCongressunderArticleI,Section8ofthe
320-61ConstitutionoftheUnitedStates;or
321-62 (b)AuthorizedbyMissourilawunderArticleI,Section10oftheConstitutionof
322-63theUnitedStates;
323-64 (4)"Preciousmetal",goldorsilver;
324-HCSHBs433&630 9 65 (5)"Specie",bullionfabricatedintoproductsofuniformshape,size,design,
325-66content,weight,andpuritythataresuitablefororcustomarilyusedascurrency,asa
326-67mediumofexchange,orasthemediumforpurchase,sale,storage,transfer,ordelivery
327-68ofpreciousmetalsinretailorwholesaletransactions;
328-69 (6)"Specielegaltender",includesanyofthefollowing:
329-70 (a)Speciecoinissuedbythefederalgovernmentatanytime;and
330-71 (b)Anyotherspecie,providedsuchspeciedoesnotcontainanyinsignia,
331-72symbols,orotherrecognizablelogosoftheNaziParty.
314+55bullionheldinadepositoryaccount,whichmaybetransferredbyelectronicinstruction.
315+56Suchrepresentationshallreflecttheexactunitofphysicalspecieorgoldandsilver
316+57bullioninthedepositoryaccountinitsfractionaltroyouncemeasurementasprovided
317+58inthissection;
318+59 (3)"Legaltender",arecognizedmediumofexchangeforthepaymentofdebts,
319+60publiccharges,taxes,orduesthatis:
320+61 (a)AuthorizedbytheUnitedStatesCongresspursuanttoArticleI,Section8of
321+62theConstitutionoftheUnitedStates;or
322+63 (b)AuthorizedbyMissourilawpursuanttoArticleI,Section10ofthe
323+64ConstitutionoftheUnitedStates;
324+HB433 9 65 (4)"Preciousmetal",goldorsilver;
325+66 (5)"Specie",bullionfabricatedintoproductsofuniformshape,size,design,
326+67content,weight,andpuritythataresuitablefororcustomarilyusedascurrency,asa
327+68mediumofexchange,orasthemediumforpurchase,sale,storage,transfer,ordelivery
328+69ofpreciousmetalsinretailorwholesaletransactions;
329+70 (6)"Specielegaltender",includesanyofthefollowing:
330+71 (a)Speciecoinissuedbythefederalgovernmentatanytime;and
331+72 (b)Anyotherspecie,providedsuchspeciedoesnotcontainanyinsignia,
332+73symbols,orotherrecognizablelogosoftheNaziParty.
332333 âś”
333-HCSHBs433&630 10
334+HB433 10