Bill > HJR189

This joint resolution proposes a constitutional amendment for the state of Missouri to create a "Show-Me Prosperity Fund," a permanent public endowment intended to achieve long-term fiscal stability and eventually eliminate state-imposed taxes. The fund would be managed by the state treasurer through a total-return investment strategy, aiming to preserve and grow its principal while generating net investment earnings, which are defined as all income, gains, and appreciation after investment fees. Moneys could only be withdrawn from the fund to replace revenue from specific state taxes – individual income tax, state sales and use tax, state corporate income tax, and other state taxes as determined by law – but only after the state treasurer notifies the general assembly that the fund's earnings are sufficient to cover these taxes, and the general assembly approves this notification via a concurrent resolution. Annual withdrawals from the fund are capped at two percent of its average market value over the preceding five years. The resolution also outlines provisions for the general assembly to enact legislation to cover state programs and expenditures if the fund fails to meet its obligations, and allows for the use of net investment earnings for replacing federal funds or issuing dividends to residents once all specified taxes are eliminated. The principal of the fund is protected from appropriation, pledging, or encumbrance for any purpose other than those outlined. The state auditor will conduct regular audits, and the fund's balance and performance will be publicly accessible online quarterly.

Government Affairs

https://house.mo.gov/Bill.aspx?bill=HJR189&year=2026&code=R