(Section 143.124)

Beginning with the taxable year starting in January 1, 2011, this act creates a deduction from Missouri income tax for one-time lump sum distributions from retirement plans, if the lump sum distribution is no more than twenty percent of the amount of the retirement plan. This deduction is contingent upon the enactment of a federal deduction for one-time lump sum distributions.

This provision is similar to HB 50 (2011).

(Section 166.415)

This provision requires that the board of the Missouri Higher Education Savings Program study investment plans of other states and negotiate to provide benefit options similar to other states' plans for new contracts entered into after August 28, 2011.

(Section 408.052)

This provision exempts mortgage brokers making loans on manufactured or modular homes from restrictions on the amount of fees that lenders may charge on residential real estate loans.

(Section 443.812)

This provision allows mortgage loan brokers making loans on manufactured or modular homes to be licensed in Missouri without having to maintain a full-service office in Missouri. The broker is required to file a form consenting to be sued in Missouri and that the venue for the suit will be in Cole County. The reasonable costs of any investigation, outside the normal costs of an annual or special examination, or any other costs incurred by the division as a result of the broker not maintaining a full-service office in Missouri may be charged to the mortgage loan broker.

EMILY KALMER