MO SB1040

Metropolitan school district boards may impose a sales tax up to 0.25% (one quarter of one percent) on retail sales within the district to fund special educational services

The tax requires approval by a majority of district voters at a general election before it can take effect

If approved, the tax becomes effective on the first day of the second calendar quarter after the director of revenue receives notice of adoption

The Missouri Department of Revenue will collect the tax, retaining 1% for administrative costs, with the remainder deposited in a newly created "Special Educational Services Sales Tax Trust Fund"

Revenue distributions to the metropolitan district occur by the tenth day of each month, with unused funds invested and interest credited back to the fund