SPONSOR: Mayhew
COMMITTEE ACTION: Voted "Do Pass" by the Standing Committee on Pensions by a vote of 7 to 3 with 2 members voting present.
This bill provides that, beginning January 1, 2027, 100% of any retirement allowance from any privately funded source and 100% of retirement benefits from sources other than privately funded sources received by each taxpayer must be subtracted from their Missouri adjusted gross income.
This bill is similar to HB 426 (2025).
PROPONENTS: Supporters say that this bill is very simple and it eliminates income tax of public and private retirement income. This is similar to legislation in Iowa and Illinois.
Testifying in person for the bill were Representative Mayhew
OPPONENTS: There was no opposition voiced to the committee.
Written testimony has been submitted for this bill. The full written testimony and witnesses testifying online can be found under Testimony on the bill page on the House website.
Statutes affected: