SS/SB 540 - This act modifies provisions relating to members of the armed forces.ARMED FORCES MEDALLION PROGRAM
This act establishes a new medallion program, "Operation Enduring Freedom, Operation Freedom's Sentinel, and Operation Allies Refuge Program". Under the act, any veteran who served on active duty during certain dates, is a legal resident of this state or was a legal resident at the time of discharge from military service, or was a Missouri National Guard member regardless of residency, is eligible for a medal of appreciation for service. (Section 42.312)
This provision is identical to SB 611 (2023) and HB 836 (2023), and to a provision in SCS/HB 1067 (2023).
ARMED FORCES INCOME TAX DEDUCTION
Current law authorizes an income tax deduction for active and reserve members of the Armed Forces for a percentage of such taxpayer's income received as salary or compensation as a member of the Armed Forces. This act provides that the term "salary or compensation" shall include any signing bonus. (Sections 143.174 and 143.175)
These provisions are identical to provisions in SCS/HB 1067 (2023).
JOSH NORBERG
HA #1 - THIS AMENDMENT CHANGES THE TITLE TO "RELATING TO TAXATION"
HA #2, AS AMENDED - THIS AMENDMENT STRIKES THE ARMED FORCES MEDALLION PROGRAM FROM THE ACT; ADDS A PROVISION MODIFYING THE ASSESSMENT RATE OF PERSONAL PROPERTY AND THE METHOD OF ASSESSMENT OF MOTOR VEHICLES, WITH AN EMERGENCY CLAUSE; ADDS A PROVISION AUTHORIZING COUNTIES TO GRANT A PROPERTY TAX CREDIT TO SENIORS; ADDS A PROVISION MODIFYING SOURCES OF PROFIT FOR THE PURPOSES OF THE BUSINESS INCOME TAX DEDUCTION; ADDS A SALES AND USE TAX EXEMPTION FOR PERSONAL PROPERTY PURCHASED AT AN AUCTION; AND ADDS PROVISIONS AUTHORIZING TAX CREDITS FOR THE PROVISION OF CHILD CARE