Bill > SB908

This bill: Repeals and replaces several sections of Missouri law related to taxation, including provisions on neighborhood improvement districts, community improvement districts, tax increment financing, earnings taxes, and property assessment. The bill imposes new reporting requirements on local governments establishing these types of districts or tax mechanisms, requires the state to publish notices related to these districts, and places limitations on when local governments can describe a proposed tax as not increasing taxes. The bill also provides a one-time tax credit for Missouri taxpayers who filed 2021 state income tax returns by October 17, 2022, with the credit capped at $1 billion in total. Additionally, the bill contains an emergency clause related to a provision on property assessment.