MO HB2723

Caps employer withholding tax retention at $1,500 per year (employers may retain 2% of first $5,000, 1% of next $5,000, and 0.5% of amounts over $10,000 in withheld taxes)

Caps sales tax vendor compensation at $1,500 per person per year for the 2% timely filing deduction

Creates the "Transportation Infrastructure Fund" to receive excess tax retention amounts above the $1,500 caps

Fund moneys are appropriated by the General Assembly for planning, acquiring, constructing, and maintaining state transportation infrastructure

Fund is managed by the state treasurer, earns investment interest, and cannot revert to general revenue