Bill > HB3444

This bill modifies Missouri's income tax by gradually reducing the top tax rate, with potential further reductions contingent on revenue growth and inflation adjustments, and introduces a new tax on the endowments of certain institutions of higher education. Specifically, starting with the 2023 tax year, the top income tax rate will be capped at 4.95%, with further reductions possible in subsequent years if state revenue targets are met and inflation is accounted for. A new tax of 1.9% will be imposed on the endowments of "qualifying institutions of higher education" beginning in 2027, defined as institutions affiliated with or providing training for abortion facilities, or otherwise supporting them. The bill also mandates annual adjustments to income tax brackets based on inflation, starting with the 2017 tax year, and clarifies definitions for terms like "net general revenue collected" and "percent increase in inflation."

https://house.mo.gov/Bill.aspx?bill=HB3444&year=2026&code=R