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MO SB98
Bill
AI Summary
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Capital gains from the exchange of gold or silver would be exempt from Missouri state income tax through a new deduction under Section 143.111
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Creates a framework for "nonbank depositories" defined as private storage firms for safekeeping federally-issued gold and silver
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Protects monetary holdings in nonbank depositories from disclosure, search, or seizure without a lawful warrant issued by a judicial officer in the county where holdings exist, supported by probable cause, and executed only by the elected county sheriff
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Requires nonbank depositories to obtain written authority from depositors for all transactions and subjects them to Secretary of State regulations
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Establishes the London PM fix as the method for determining the value of gold and silver accepted by the state
Legislative Description
Exempts capital gains on gold and silver from income tax and authorizes the storage of gold and silver in private repositories
Last Action
Hearing Cancelled S Ways and Means Committee
2/12/2015