FIRST REGULAR SESSION

HOUSE BILL NO. 825

91ST GENERAL ASSEMBLY


INTRODUCED BY REPRESENTATIVE KENNEDY.

Read 1st time February 19, 2001, and 1000 copies ordered printed.

TED WEDEL, Chief Clerk

1903L.01I


AN ACT

To repeal section 144.815, RSMo 2000, relating to the exemption from taxation of bullion and investment coins, and to enact in lieu thereof one new section relating to the same subject.




Be it enacted by the General Assembly of the state of Missouri, as follows:

Section A. Section 144.815, RSMo 2000, is repealed and one new section enacted in lieu thereof, to be known as section 144.815, to read as follows:

144.815. In addition to the exemptions granted pursuant to the provisions of section 144.030, there shall also be specifically exempted from [the provisions of sections 66.600 to 66.635, RSMo, sections 67.500 to 67.545, 67.547, 67.581, 67.582, 67.671 to 67.685, 67.700 to 67.729, 67.730 to 67.739, 67.782, RSMo, sections 92.400 to 92.420, RSMo, sections 94.500 to 94.570, 94.600 to 94.655, 94.700 to 94.755, RSMo,] all local sales taxes, as defined in section 32.085, RSMo, and sections 144.010 to 144.510 and 144.600 to [144.745] 144.757, and from the computation of the tax levied, assessed or payable pursuant to [sections 66.600 to 66.635, RSMo, sections 67.500 to 67.545, 67.547, 67.581, 67.582, 67.671 to 67.685, 67.700 to 67.729, 67.730 to 67.739, 67.782, RSMo, sections 92.400 to 92.420, RSMo, sections 94.500 to 94.570, 94.600 to 94.655, 94.700 to 94.755, RSMo] all local sales taxes as defined in section 32.085, RSMo, and sections 144.010 to [144.510] 144.525 and 144.600 to [144.745] 144.811, purchases of bullion and investment coins. For purposes of this section, the following terms shall mean:

(1) "Bullion", gold, silver, platinum or palladium in a bulk state, where its value depends on its content rather than its form, with a purity of not less than nine hundred parts per one thousand; and

(2) "Investment coins", numismatic coins or other forms of money and legal tender manufactured of gold, silver, platinum, palladium or metals with a fair market value greater than the face value of the coins.



Missouri House of Representatives