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MO HB2631

Bill

Official Source

Status

Introduced

2/25/2016

Primary Sponsor

Andrew Koenig

Click for details

Origin

House of Representatives

2016 Regular Session

AI Summary

  • Reduces the maximum bond amount for retail sales license applicants from three times to two times the average monthly tax liability

  • Shortens the required period of satisfactory tax compliance before bond release from two years to one year from the initial bonding date

  • Applies to new applicants for retail sales licenses and licensees in default on filing returns or paying taxes

  • Maintains existing provisions allowing irrevocable letters of credit or certificates of deposit as alternatives to bonds

Legislative Description

Changes the law regarding bonds required for certain retail sales licensees

Last Action

Voted Do Pass (H)

3/31/2016

Committee Referrals

Select Committee on Financial Institutions and Taxation3/16/2016
Ways And Means3/10/2016

Full Bill Text

No bill text available