Bill > SJR48

This joint resolution proposes a comprehensive tax reform constitutional amendment for Missouri to be voted on in the 2026 general election, with several key provisions aimed at modifying state taxation and spending. The resolution establishes a new "Tax Reform Fund" that would automatically deposit budget surpluses over $1 million into the fund, with the ultimate goal of gradually reducing and eventually eliminating personal and corporate income taxes through a triggered tax reduction mechanism. The amendment also imposes new spending limits on the state legislature, restricting annual appropriations based on population changes and requiring a two-thirds vote to exceed those limits. Additionally, the resolution caps the state sales tax rate at 3.775%, creates a new 6% sales tax specifically on lobbying services, and removes previous restrictions on expanding sales and use taxes to new services. The tax reduction triggers would be implemented automatically when certain surplus revenue thresholds are met, with personal income tax reductions occurring first, followed by corporate income tax reductions, and the Tax Reform Fund would be used to supplement budget shortfalls in years following tax reductions. The proposed changes aim to provide more fiscal predictability and gradually reduce the tax burden on Missouri residents and businesses.

Labor and Employment

https://www.senate.mo.gov/25info/BTS_Web/Bill.aspx?SessionType=R&BillID=27664