HB1452 Exempts restitution received by victims of the Nazi Holocaust from state income tax.
Sponsor: Foley, James Michael (81) Effective Date:00/00/0000
CoSponsor: Levin, David (82) LR Number: 3698S.06T
Last Action: 06/08/2000 - Approved by Governor (G)
06/08/2000 - Delivered to Secretary of State
SS SCS HB 1452
Next Hearing:Hearing not scheduled
Calendar:Bill currently not on calendar
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Available Bill Summaries for HB1452 Copyright(c)
* Truly Agreed * Senate Committee Substitute * Perfected * Committee * Introduced

Available Bill Text for HB1452
* Truly Agreed * Senate Substitute * Senate Committee Substitute * Introduced *

BILL SUMMARIES

TRULY AGREED

SS SCS HB 1452 -- RESTITUTION TO VICTIMS OF THE NAZI HOLOCAUST

This bill allows the following as deductions for state
individual income tax and excludes them in determining
eligibility for any public assistance, benefit, entitlement, or
tax relief:

(1)  All amounts received as reparations or restitution for loss
of liberty or life or damage to health by the victims of
National Socialist (Nazi) persecution;

(2)  Returns of tangible or intangible property seized,
misappropriated, or lost as the result of Nazi actions or
policies and any cash values in replacement of the property;

(3)  Payments of insurance policies purchased prior to December
31, 1945, by the victims of Nazi persecution; and

(4)  Any accumulated or accrued interest on the above amounts,
returns, or payments.

To qualify for the income tax deduction, the taxpayer must be
the actual victim, spouse, or descendant of the victim of Nazi
persecution and be the first recipient of such amounts, returns,
or payments.

These provisions will apply to tax year 2000 and thereafter.


PERFECTED

HB 1452 -- NAZI HOLOCAUST RESTITUTION (Foley)

This bill allows the following as a deduction for state
individual income tax and allows an individual to not include
them in determining eligibility for any public assistance,
benefit, entitlement, or tax relief:

(1)  All amounts received as reparations or restitution for loss
of liberty or life or damage to health by the victims of
National Socialist (Nazi) persecution;

(2)  Returns of tangible or intangible property seized,
misappropriated, or lost as the result of National Socialist
(Nazi) actions or policies and any cash values in replacement of
the property;

(3)  Payments of insurance policies purchased by the victims of
National Socialist (Nazi) persecution; and

(4)  Any accumulated or accrued interest on the above amounts,
returns, or payments.

To qualify for the income tax deduction, the taxpayer must be
the actual victim, spouse, or descendant of the victim of
National Socialist (Nazi) persecution.

These provisions will apply to tax year 2000 and thereafter.

FISCAL NOTE:  Estimated Net Loss to General Revenue Fund of
Unknown in FY 2001, FY 2002, and FY 2003.


COMMITTEE

HB 1452 -- NAZI HOLOCAUST RESTITUTION

CO-SPONSORS:  Foley, Levin

COMMITTEE ACTION:  Voted "do pass" by the Committee on
Miscellaneous Bills and Resolutions by a vote of 11 to 0.

This bill allows the following as a deduction for state
individual income tax and allows an individual to not include
them in determining eligibility for any public assistance,
benefit, entitlement, or tax relief:

(1)  All amounts received as reparations or restitution for loss
of liberty or life or damage to health by the victims of
National Socialist (Nazi) persecution;

(2)  Returns of tangible or intangible property seized,
misappropriated, or lost as the result of National Socialist
(Nazi) actions or policies and any cash values in replacement of
the property;

(3)  Payments of insurance policies purchased by the victims of
National Socialist (Nazi) persecution; and

(4)  Any accumulated or accrued interest on the above amounts,
returns, or payments.

To qualify for the income tax deduction, the taxpayer must be
the actual victim, spouse, or descendant of the victim of
National Socialist (Nazi) persecution.

These provisions will apply to tax year 2000 and thereafter.

FISCAL NOTE:  Estimated Net Loss to General Revenue Fund is
Unknown for FY 2001, FY 2002, and FY 2003.

PROPONENTS:  Supporters say that the state should not lay claim
to restitution for the Nazi holocaust and that 11 other states
have made a similar exemption from paying income tax on this
money.

Testifying for the bill were Representatives Foley and Levin;
and Missouri Jewish Federations.

OPPONENTS:  There was no opposition voiced to the committee.

Donna Schlosser, Legislative Analyst


INTRODUCED

HB 1452 -- Taxation:  Relief for Victims of the Nazi Holocaust

Co-Sponsors:  Foley, Levin

This bill allows the following as a deduction for state
individual income tax and allows an individual to not include
them in determining eligibility for any public assistance,
benefit, entitlement, or tax relief:

(1)  All amounts received as reparations or restitution for loss
of liberty or life or damage to health by the victims of
National Socialist (Nazi) persecution;

(2)  Returns of tangible or intangible property seized,
misappropriated, or lost as the result of National Socialist
(Nazi) actions or policies and any cash values in replacement of
the property;

(3)  Payments of insurance policies purchased by the victims of
National Socialist (Nazi) persecution; and

(4)  Any accumulated or accrued interest on the above amounts,
returns, or payments.

To qualify for the income tax deduction, the taxpayer must be
the actual victim, spouse, or descendant of the victim of
National Socialist (Nazi) persecution.

These provisions will apply to tax year 2000 and thereafter.


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