FIRST REGULAR SESSION

HOUSE BILL NO. 953

91ST GENERAL ASSEMBLY

INTRODUCED BY REPRESENTATIVES THOMPSON, SELBY, HAYWOOD, BOWMAN, TROUPE,

ROSS (Co-sponsors), CURLS, BLAND, VILLA, FORD, COLEMAN AND JOHNSON (61).

Read 1st time March 8, 2001, and 1000 copies ordered printed.

TED WEDEL, Chief Clerk

2223L.01I

AN ACT

To amend chapter 135, RSMo, by adding thereto one new section relating to tax relief for veterans.



Be it enacted by the General Assembly of the state of Missouri, as follows:

Section A. Chapter 135, RSMo, is amended by adding thereto one new section, to be known as section 135.1002, to read as follows:

135.1002. 1. Beginning January 1, 2002, any veteran of any branch of the armed services of the United States who has retired from the armed services or who has reached the age of sixty-five shall be exempt from any and all taxes imposed by this state or any political subdivision thereof, whether imposed upon such person's income, property, sales or any other transactions.

2. The department of revenue shall develop rules and regulations to implement this section. No rule or portion of a rule promulgated pursuant to the authority of this section shall become effective unless it has been promulgated pursuant to chapter 536, RSMo. Such rules and regulations shall provide a procedure for the certification of veterans to receive the exemption provided by this section, and a standard form by which veterans may claim the exemption from each tax and taxing authority.

3. Any revenue lost by counties and political subdivisions as a result of the enactment of this section shall be replaced through appropriations. The general assembly shall appropriate, and the director of revenue shall credit to the "Local Revenue Replacement Fund", which is hereby created, moneys sufficient to reimburse every political subdivision of this state in the amounts necessary to replace the revenue lost by each political subdivision as a result of the exemption provided in subsection 1 of this section. Any unexpended balance at the end of each biennium shall remain in the fund, the provisions of section 33.080, RSMo, notwithstanding. Every political subdivision which loses revenue as a result of the exemption provided in subsection 1 of this section shall certify such revenue loss for calendar year 2002 to the commissioner of administration by November 1, 2003, and by each succeeding November for revenue losses incurred in the previous calendar year. The director of revenue is authorized to examine the tax records of every political subdivision to estimate the amount of revenue lost by each political subdivision as a result of the exemption provided in subsection 1 of this section.


Missouri House of Representatives