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Bill > HB1332
MO HB1332
MO HB1332Authorizes a tax on the endowments of qualifying institutions of higher education and a corresponding endowment tax revenue trigger to income tax rates
summary
Introduced
02/28/2023
02/28/2023
In Committee
05/12/2023
05/12/2023
Crossed Over
Passed
Dead
05/12/2023
05/12/2023
Introduced Session
2023 Regular Session
Bill Summary
Authorizes a tax on the endowments of qualifying institutions of higher education and a corresponding endowment tax revenue trigger to income tax rates
AI Summary
This bill authorizes a tax on the endowments of qualifying institutions of higher education and a corresponding endowment tax revenue trigger to income tax rates. Specifically, the bill imposes a 5% tax on the endowments of institutions that are affiliated with abortion providers, offer training in performing abortions, support abortion facilities, or perform gender transition procedures on minors. The revenue generated from this tax will be deposited into the state's general revenue fund. Additionally, the bill includes provisions that allow for potential reductions in the state's personal income tax rates if the endowment tax revenue meets certain thresholds.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
Referred: Ways and Means(H) (on 05/12/2023)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.house.mo.gov/Bill.aspx?bill=HB1332&year=2023&code=R |
| Analysis - Summary: Introduced | https://www.house.mo.gov/billtracking/bills231/sumpdf/HB1332I.pdf |
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