MO HB2254

Repeals the in-lieu watercraft tax system for federally documented vessels and reinstates liability for standard state and local sales and use taxes effective January 1, 2011.

Exempts United States Coast Guard registered vessels purchased for marine construction purposes (barges, dredges, marine cranes) from sales and use tax requirements.

Directs revenue from state and local sales and use taxes on documented vessels to the veterans' commission capital improvements trust fund established in section 313.835 instead of the Missouri state water patrol.

Requires watercraft dealers to report all watercraft sales to Missouri residents to the director of revenue, and establishes that taxes are collected using standard state and local sales tax collection procedures.

Applies to vessels purchased after August 28, 1994, but before January 1, 2011, with existing registration and renewal fee structures maintained at $7.50 certification fee plus standard certificate of number fees.