FIRST REGULAR SESSION
SENATE COMMITTEE SUBSTITUTE FOR
SENATE BILL NO. 318
90TH GENERAL ASSEMBLY
TERRY L. SPIELER, Secretary.
S1276.03C
AN ACT
To repeal section 143.151, RSMo 1994, and section 143.161, RSMo Supp. 1998, relating to income tax exemptions, and to enact in lieu thereof two new sections relating to the same subject.
Section A. Section 143.151, RSMo 1994, and section 143.161, RSMo Supp. 1998, are repealed and two new sections enacted in lieu thereof, to be known as sections 143.151 and 143.161, to read as follows:
143.151. For all taxable years beginning before January 1, 1999, a resident shall be allowed a deduction of one thousand two hundred dollars for himself and one thousand two hundred dollars for his spouse if he is entitled to a deduction for such personal exemptions for federal income tax purposes. For all taxable years beginning on or after January 1, 1999, a resident shall be allowed a deduction of two thousand one hundred dollars for himself and two thousand one hundred dollars for his spouse if he is entitled to a deduction for such personal exemptions for federal income tax purposes.
143.161. 1. For all taxable years beginning after December 31, 1997, a resident may deduct one thousand two hundred dollars for each dependent for whom such resident is entitled to a dependency exemption deduction for federal income tax purposes. In the case of a dependent who has attained sixty-five years of age on or before the last day of the taxable year, if such dependent resides in the taxpayer's home or the dependent's own home or if such dependent does not receive Medicaid or state funding while residing in a facility licensed pursuant to chapter 198, RSMo, the taxpayer may deduct an additional one thousand dollars.
2. For all taxable years beginning before January 1, 1999, a resident who qualifies as an unmarried head of household or as a surviving spouse for federal income tax purposes may deduct an additional eight hundred dollars. For all taxable years beginning on or after January 1, 1999, a resident who qualifies as an unmarried head of household or as a surviving spouse for federal income tax purposes may deduct an additional one thousand four hundred dollars.
[3. This section shall apply to all taxable years beginning after December 31, 1997.]