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MO HB1174

Bill

Status

Engrossed

4/22/2014

Primary Sponsor

Paul Curtman

Click for details

Origin

House of Representatives

2014 Regular Session

AI Summary

  • Adds a deduction for capital gains income from the exchange of gold or silver to Missouri taxable income calculations under section 143.111.

  • Replaces previous silver coin legal tender provisions in section 408.010 with new regulations for nonbank depositories that store federal gold and silver.

  • Requires nonbank depositories to obtain written authority from depositors for all transactions and establishes London PM fix as the method for determining gold and silver value.

  • Restricts disclosure, search, or seizure of monetary holdings in nonbank depositories to cases with judicial warrant, probable cause, and execution by county sheriff.

  • Changes employer withholding return thresholds from twenty dollars to one hundred dollars for annual filing requirements under section 143.221.

Legislative Description

Specifies that certain capital gains income from the exchange of gold and silver is exempt from Missouri adjusted gross income and changes the laws regarding nonbank depositories

Last Action

Public Hearing Held (S)

4/28/2014

Committee Referrals

Fiscal Review4/16/2014
Rules3/5/2014
Ways And Means1/9/2014

Full Bill Text

No bill text available