Proposed $2.5 Million Funding By Missouri House Committee Announced To Target Grocery Stores In The State

Missouri House Committee’s proposal was also announced to address grocery stores in the state.

$2.5 million in tax credits is expected if the bill is approved. (Photo: KCUR)

Missouri House Committee’s Proposal

The Missouri House Committee on Economic Development will be discussing tax credits for grocery stores in food deserts on Wednesday.

The bills as proposed by the Missouri House Committee are also sponsored by Rep. Dane Diehl and Rep. Emily Weber.

The Missouri House Committee explains that the bill would provide tax credits of up to $2.5 million for establishing full-service grocery stores in areas with limited access to healthy food.

According to a published article by SmartNews, the bills as proposed by the Missouri House Committee will also address eligibility requirements, including a minimum initial expense and specific criteria for specialty crop farms.

Additionally, Rep. Brenda Shields’ bill aims to prevent taxpayers from being liable for additional fees if tax credits are denied due to lack of funds.

Flat Tax

In a published article by The Center Square, the House Committee on Taxes will vote on a bill to create a flat tax and hold a public hearing on resolutions about eliminating income and property taxes. Rep. Davidson is a sponsor of all three proposals.

The flat tax bill would replace income brackets with a 4% tax on income above $1,000 starting in 2025. There are concerns about revenue loss and opposition from the Missouri Budget Project.

The resolutions propose a “Tax Reform Fund” to trigger reductions in personal income tax and eventually eliminate it, using surplus revenue.

Another resolution suggests using the fund to reduce personal property tax. The committee will also discuss gradually reducing the current income tax rate to 4.5%.

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