HB 649 -- Supplemental Income Tax for School Funding

Sponsor:  Shields

This bill creates an option for school districts to submit to
their voters a supplemental income tax of up to 1% of Missouri
taxable income to reduce reliance on property taxes for school
funding.  The supplemental income tax would become effective
January 1 following its approval.  The statutes governing state
income tax would apply, and employers would withhold the
supplemental income tax as prescribed by existing statute.  The
Department of Revenue would adjust tax materials as necessary to
administer the tax, would promulgate necessary rules, and would
distribute to the school district the revenue generated from
residents of the district.  For each district that adopts a
supplemental income tax, the Department of Elementary and
Secondary Education would calculate a property tax rate that is
the equivalent of the revenue generated by the supplemental
income tax and include the equivalent rate as an addition to the
district's operating levy for the purposes of calculating state
aid.

Missouri House of Representatives
Last Updated September 13, 2001 at 2:03 pm