MO SB1279

Removes the annual cap on Missouri state income tax deductions for contributions to 529 qualified tuition programs, which was previously limited to $8,000 per taxpayer or $16,000 for married couples filing jointly

Contributions to Missouri's education savings program, deposit programs, and any Section 529 qualified tuition programs remain fully deductible from Missouri adjusted gross income

Assets and income from 529 programs continue to be exempt from all state and local taxation when used for qualified education expenses

Distributions not used for qualified education expenses or allowable transfers must be added back to Missouri adjusted gross income for the participant or beneficiary