MO HB1399

Repeals and replaces section 144.064 of Missouri law regarding sales taxes on firearms and ammunition

Prohibits sales tax on firearms and ammunition from being levied at a higher rate than sales tax on other sporting goods, hunting equipment, or related items

Imposes an additional one cent per transaction tax on retail sales of handguns and ammunition as defined in section 571.063

Creates the "Mental Health Services Handgun and Ammunition Sales Tax Fund" to receive all revenue from the one cent transaction tax, with funds dedicated solely to mental health services for Missourians

Designates the state treasurer as custodian of the fund, allows investment of fund moneys with earnings credited back to the fund, and prevents fund balances from reverting to the general revenue fund at the end of the biennium