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MO SB1440
Bill
AI Summary
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Maintains current state income tax deduction of up to $8,000 per taxpayer ($16,000 for married couples filing jointly) for contributions to any qualified 529 tuition program through December 31, 2025
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Beginning January 1, 2026, limits the state income tax deduction to contributions made only to Missouri's deposit program or the Missouri education program (MOST 529), excluding out-of-state 529 plans
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Preserves state tax exemption on assets and income from 529 programs, including refunds from educational institutions that are recontributed within 60 days of withdrawal
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Requires distributions not used for qualified education expenses or proper transfers to be added back to Missouri adjusted gross income
Legislative Description
Modifies an income tax deduction for contributions to 529 savings accounts
Last Action
Second Read and Referred S Insurance and Banking Committee
2/5/2026