SECOND REGULAR SESSION
SENATE BILL NO. 983
89TH GENERAL ASSEMBLY
INTRODUCED BY SENATOR YECKEL.
Read 1st time February 26, 1998, and 1,000 copies ordered printed.
TERRY L. SPIELER, Secretary.
S4030.01I
AN ACT
To repeal section 143.111, RSMo 1994, relating to certain income tax deductions, and to enact in lieu thereof two new sections relating to the same subject, with an effective date.
Section A. Sections 143.111, RSMo 1994, is repealed and two new sections enacted in lieu thereof, to be known as sections 143.111 and 143.119, to read as follows:
143.111. The Missouri taxable income of a resident shall be his Missouri adjusted gross income less: (1) either[:] the Missouri standard deduction or the Missouri itemized deduction[,]; (2) the Missouri deduction for personal exemptions[,]; (3) the Missouri deduction for dependency exemptions[,]; (4) the deduction for federal income taxes provided in section 143.171[.]; and (5) the deduction for tuition, attendance fees or school supplies provided in section 143.119.
143.119. In addition to the amounts to be subtracted from a resident's Missouri adjusted gross income to determine Missouri taxable income under the provisions of section 143.111, there shall be subtracted the amount the taxpayer has paid to others for each dependent in grades kindergarten through twelve, for tuition, attendance fees, or school supplies for or on behalf of each dependent in attending a school situated in Missouri, up to a maximum of one thousand dollars for each dependent.
Section B. Sections 143.111 and 143.119 shall become effective on January 1, 1999, and shall apply to all taxable years beginning after December 31, 1998.