Bill > SB1191

This bill, known as the "Next Generation Family Act", provides a state income tax exemption for families with three or more children starting in the tax year 2027. Specifically, any taxpayer who is entitled to claim a dependency exemption for three or more children on their federal income tax return will be completely exempt from paying Missouri state income tax, even if the federal dependency exemption amount is zero. The bill requires the Missouri Department of Revenue to create rules to implement this tax exemption, with the stipulation that any such rules must comply with existing state administrative procedures. The law is set to take effect on January 1, 2027, and includes a provision that if any part of the rulemaking process is found unconstitutional, the entire tax exemption rule would become invalid. The bill aims to provide financial relief for larger families by eliminating their state income tax burden.

Labor and Employment

https://www.senate.mo.gov/26info/BTS_Web/Bill.aspx?SessionType=R&BillID=106