Bill > SJR24

This joint resolution proposes a comprehensive tax reform constitutional amendment for Missouri to be voted on in the 2026 general election. The resolution establishes a new "Tax Reform Fund" that would automatically deposit surplus state revenues (over $1 million) into a dedicated account, with a structured approach to gradually reduce and potentially eliminate personal and corporate income taxes. The plan includes a mechanism where tax reductions are triggered when the fund reaches specific balance thresholds, starting with a one-tenth of one percent personal income tax decrease when the fund reaches $120 million, with subsequent reductions of one-twentieth of one percent for every additional $60 million. The resolution also imposes an annual spending limit on the Missouri General Assembly that adjusts based on population changes, caps the state sales tax rate at 3.775%, and uniquely introduces a 6% sales tax on lobbying services. Additionally, the amendment provides a mechanism for using the Tax Reform Fund to supplement budget shortfalls in years following tax reductions, ensuring fiscal stability while pursuing long-term tax reduction goals.

Labor and Employment

https://www.senate.mo.gov/25info/BTS_Web/Bill.aspx?SessionType=R&BillID=289