Missouri State Income Tax Credit Amendment (2014)

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The Missouri State Income Tax Credit Amendment may appear on a 2014 election ballot in the state of Missouri as an initiated constitutional amendment. This measure would create an income tax credit based on amount donated to not-for-profit schools. The credit would be available to both individuals and corporations.[1]

Text of measure

Ballot summary

The official ballot title reads as follows:[2]

Shall the Missouri Constitution be amended to create an individual and corporate state income tax credit of 60% of the amount donated to Missouri not-for-profit elementary and secondary schools or school districts and Missouri not-for-profit foundations providing scholarships for Missouri secondary school graduates to attend Missouri not-for-profit higher education colleges and universities (this credit cannot exceed the donor’s state income tax liability for the year)? [3]

Fiscal note

See also: Fiscal impact statement

According the Missouri secretary of state's fiscal note:

  • Annual state government revenue may decrease by an estimated $236 million to $938 million. Annual state operating costs may increase by at least $200,000. Reduced state revenue could result in decreased state funding for local governments and public education entities. Public education entities could have an unknown increase in donation revenue.


Path to the ballot

The supporting group has until May 4, 2014, to turn in the required amount of valid signatures. Missouri law states that signatures must be obtained from registered voters equal to eight percent of the total votes cast in the 2012 governor's election from six of the state's eight congressional districts.

See also

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References

  1. 2014-022 (text)
  2. Missouri Secretary of State,"Ballot measure 2014-022," retrieved April 3, 2013
  3. Note: This text is quoted verbatim from the original source. Any inconsistencies are attributed to the original source.