| 1 | 1 | | FIRSTREGULARSESSION |
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| 2 | 2 | | HOUSEJOINT |
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| 3 | 3 | | RESOLUTION NO.50 |
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| 4 | 4 | | 103RDGENERALASSEMBLY |
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| 5 | 5 | | INTRODUCEDBYREPRESENTATIVECHAPPELL. |
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| 6 | 6 | | 1728H.01I JOSEPHENGLER,ChiefClerk |
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| 7 | 7 | | JOINTRESOLUTION |
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| 8 | 8 | | SubmittingtothequalifiedvotersofMissourianamendmentrepealingSection4(d)ofArticle |
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| 9 | 9 | | XoftheConstitutionofMissouri,andadoptingonenewsectioninlieuthereof |
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| 10 | 10 | | relatingtotaxation. |
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| 11 | 11 | | BeitresolvedbytheHouseofRepresentatives,theSenateconcurringtherein: |
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| 12 | 12 | | ThatatthenextgeneralelectiontobeheldinthestateofMissouri,onTuesdaynext |
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| 13 | 13 | | 2followingthefirstMondayinNovember,2026,orataspecialelectiontobecalledbythe |
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| 14 | 14 | | 3governorforthatpurpose,thereisherebysubmittedtothequalifiedvotersofthisstate,for |
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| 15 | 15 | | 4adoptionorrejection,thefollowingamendmenttoArticleXoftheConstitutionofthestateof |
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| 16 | 16 | | 5Missouri: |
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| 17 | 17 | | SectionA.Section4(d),ArticleX,ConstitutionofMissouri,isrepealedandonenew |
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| 18 | 18 | | 2sectionadoptedinlieuthereof,tobeknownasSection4(d),toreadasfollows: |
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| 19 | 19 | | Section4(d).1.Inenactinganylawimposingataxonormeasuredbyincome,the |
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| 20 | 20 | | 2generalassemblymaydefineincomebyreferencetoprovisionsofthelawsoftheUnited |
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| 21 | 21 | | 3Statesastheymaybeorbecomeeffectiveatanytimeorfromtimetotime,whether |
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| 22 | 22 | | 4retrospectiveorprospectiveintheiroperation.Thegeneralassemblyshallinanysuchlawset |
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| 23 | 23 | | 5therateorratesofsuchtax.Thegeneralassemblymayinsodefiningincomemake |
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| 24 | 24 | | 6exceptions,additions,ormodificationstoanyprovisionsofthelawsoftheUnitedStatesso |
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| 25 | 25 | | 7referredtoandforretrospectiveexceptionsormodificationstothoseprovisionswhichare |
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| 26 | 26 | | 8retrospective. |
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| 27 | 27 | | EXPLANATION—Matterenclosedinbold-facedbrackets[thus] intheabovebillisnotenactedandis |
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| 28 | 28 | | intendedtobeomittedfromthelaw.Matterinbold-facetypeintheabovebillisproposedlanguage. 9 2.(1)ForalltaxyearsbeginningonorafterJanuary1,2028,notaxshallbe |
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| 29 | 29 | | 10imposeduponanyincomederivedfromanysourcewithinthisstate,andallrevenues |
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| 30 | 30 | | 11lostasaresultoftheprohibitiononthetaxationofincomeunderthissectionshallbe |
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| 31 | 31 | | 12replacedbythelevyandimpositionofataxuponallsales,use,orconsumptionofall |
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| 32 | 32 | | 13newtangiblepersonalproperty,rentalproperty,ortaxableservicesinthisstate,except |
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| 33 | 33 | | 14forsuchpropertysoldtothefederalgovernmentorpurchasedtobeacomponentpart |
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| 34 | 34 | | 15oringredientofthenewtangiblepersonalpropertytobesoldatretail. |
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| 35 | 35 | | 16 (2)Notaxshallbeimposedunderthissubsectiononanytaxablepropertyor |
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| 36 | 36 | | 17servicepurchasedforabusinesspurposeinatradeorbusiness,includingagriculture, |
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| 37 | 37 | | 18orpurchasedforaninvestmentpurposeandheldexclusivelyforaninvestmentpurpose. |
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| 38 | 38 | | 19Forthepurposesofthissubdivision,thefollowingtermsmean: |
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| 39 | 39 | | 20 (a)"Purchasedforabusinesspurposeinatradeorbusiness",purchasedbya |
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| 40 | 40 | | 21personengagedinatradeorbusinessandusedinthattradeorbusinessforresale,to |
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| 41 | 41 | | 22produce,provide,render,orselltaxablepropertyorservices,orinfurtheranceofother |
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| 42 | 42 | | 23bonafidebusinesspurposes; |
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| 43 | 43 | | 24 (b)"Purchasedforaninvestmentpurpose",propertypurchasedexclusivelyfor |
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| 44 | 44 | | 25purposesofappreciationortheproductionofincome. |
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| 45 | 45 | | 26 3.Therateofthetaxleviedandimposedundersubdivision(1)ofsubsection2of |
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| 46 | 46 | | 27thissectionshallbefiveandeleven-hundredthspercent.Thegeneralassemblymay |
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| 47 | 47 | | 28enactoneadjustment,subjecttothelimitationontotalstaterevenuesasprovidedunder |
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| 48 | 48 | | 29section18ofthisarticle,aftertheimpositionofsuchtaxiftherevenuelostasaresultof |
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| 49 | 49 | | 30theprohibitiononthetaxationofincomeisgreaterthanorlessthantherevenue |
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| 50 | 50 | | 31receivedfromthetaximposedinthissection.Suchadjustmentshallbecalculatedto |
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| 51 | 51 | | 32ensurethattheamountofrevenuereceivedissubstantiallyequaltotheamountof |
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| 52 | 52 | | 33revenuelostunderthissection.Localpoliticalsubdivisionsshallrecalculatelocaltax |
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| 53 | 53 | | 34rates,includinglocaltaxrevenuetobedepositedintheschooldistricttrustfund, |
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| 54 | 54 | | 35affectedbythissectiontoproducethesameorsubstantiallysimilarrevenueascollected |
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| 55 | 55 | | 36intheimmediatelypreviousfiscalyear.Thegeneralassemblymayprovidebylawfor |
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| 56 | 56 | | 37determiningthescopeoftaxableservicesandforotherwiseimplementingtheprovisions |
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| 57 | 57 | | 38ofthissection.Exemptionsfromsuchtaxmaybeprovidedbylawuponanaffirmative |
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| 58 | 58 | | 39voteofatleasttwo-thirdsoftheelectedmembersofbothchambersandapprovalbythe |
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| 59 | 59 | | 40governor. |
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| 60 | 60 | | 41 4.NotwithstandingtheprovisionsofSections43(a)and47(a)ofArticleIVofthis |
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| 61 | 61 | | 42Constitution,theratesoftaxleviedandimposedunderthosesectionsshallundergoa |
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| 62 | 62 | | 43one-timecalculation,takingintoaccountanyadjustmentinthetaxbase.This |
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| 63 | 63 | | 44recalculationshalldeterminethenewratesthatwillproduceanamountofrevenuefor |
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| 64 | 64 | | 45thefiscalyearofrecalculationsubstantiallyequaltotheamountactuallyreceivedinthe |
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| 65 | 65 | | HJR50 2 46yearofrecalculationunderthepriorratedescribedinsections43(a)and47(a)articleIV |
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| 66 | 66 | | 47ofthisconstitution.Thesenewtaxratesshallberecalculatedinthissamemannerifthe |
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| 67 | 67 | | 48rateoftaxleviedunderthissectionbereadjusted. |
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| 68 | 68 | | 49 5.Thetaxesthatarereplacedunderthissectionareasfollows: |
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| 69 | 69 | | 50 (1)Withholdingtaxesandindividualandcorporateincometaxes; |
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| 70 | 70 | | 51 (2)Corporationfranchiseandbankfranchisetaxes;and |
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| 71 | 71 | | 52 (3)Allexistingstatesalesandusetaxes. |
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| 72 | 72 | | 53 6.(1)Thedepartmentofrevenueshalldetermineamethodforprovidingan |
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| 73 | 73 | | 54annualsalestaxrebateforeachdulyregisteredqualifiedfamilyofthisstate.Thesales |
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| 74 | 74 | | 55taxrebateshallbedistributedatleastannuallytoeachqualifiedfamily.Theamountof |
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| 75 | 75 | | 56thesalestaxrebateshallbedeterminedannuallyandbeequaltotheproductoftherate |
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| 76 | 76 | | 57ofsalestaxestablishedunderthissectionandtheappropriateannualpovertyguidelines |
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| 77 | 77 | | 58updatedperiodicallyintheFederalRegisterbytheUnitedStatesDepartmentofHealth |
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| 78 | 78 | | 59andHumanServicesundertheauthorityof42U.S.C.9902(2),asamended. |
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| 79 | 79 | | 60 (2)Forthepurposesofthissubsection,theterm"qualifiedfamily"shallmean |
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| 80 | 80 | | 61oneormorefamilymembers,includingaspouse,child,stepchild,grandchild,parent, |
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| 81 | 81 | | 62grandparent,brother,sister,oranysuchrelationsofthespouseofthefamilymember, |
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| 82 | 82 | | 63sharingacommonresidence. |
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| 83 | 83 | | 64 7.Thedepartmentofrevenueshallpromulgaterulesasotherwiseprovidedby |
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| 84 | 84 | | 65lawtoimplementtheprovisionsofthissection. |
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| 85 | 85 | | 66 8.Therevisorofstatutesshallprepareandsubmittothecommitteeon |
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| 86 | 86 | | 67legislativeresearchaproposedbillrepealingthoseprovisionsoflawthataredeemed |
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| 87 | 87 | | 68unenforceableorunnecessaryundertheprovisionsofthissection. |
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| 88 | 88 | | SectionB.Pursuanttochapter116,andotherapplicableconstitutionalprovisionsand |
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| 89 | 89 | | 2lawsofthisstateallowingthegeneralassemblytoadoptballotlanguageforthesubmissionof |
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| 90 | 90 | | 3thisjointresolutiontothevotersofthisstate,theofficialsummarystatementofthis |
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| 91 | 91 | | 4resolutionshallbeasfollows: |
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| 92 | 92 | | 5 "ShouldtheMissouriConstitutionbeamendedtoeliminateindividualandcorporate |
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| 93 | 93 | | 6incometaxandstatesalesandusetax,enactasingle,revenue-neutralsalestaxonnew |
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| 94 | 94 | | 7purchasesofgoodsandserviceswithanexemptionforcertainproperty,andprovidequalified |
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| 95 | 95 | | 8familiesasalestaxrebateonstatesalestaxpaid?". |
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| 96 | 96 | | âś” |
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| 97 | 97 | | HJR50 3 |
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