SECOND REGULAR SESSION
HOUSE BILL NO. 1399
97TH GENERAL ASSEMBLY
INTRODUCED BY REPRESENTATIVES ELLINGTON (Sponsor), SMITH, NEWMAN, COLONA AND MONTECILLO (Co-sponsors).
5121L.01I D. ADAM CRUMBLISS, Chief Clerk
To repeal section 144.064, RSMo, and to enact in lieu thereof one new section relating to sales taxes on handguns and ammunition.
Be it enacted by the General Assembly of the state of Missouri, as follows:
Section A. Section 144.064, RSMo, is repealed and one new section enacted in lieu thereof, to be known as section 144.064, to read as follows:
144.064. 1. Except as provided in subsection 2 of this section, no sales tax levied under this chapter on any firearms or ammunition shall be levied at a rate that is higher than the sales tax levied under this chapter or any other excise tax levied on any sporting goods or equipment or any hunting equipment.
2. (1) In addition to any other sales tax imposed under this chapter on the retail sale of any handgun or ammunition, as such term is defined in section 571.063, a tax is hereby levied and imposed upon every retail sale of any handgun or ammunition in this state at the rate of one cent per transaction. All revenues derived from the tax imposed under this subsection shall be deposited in the mental health services handgun and ammunition sales tax fund created in this subsection, and shall be used solely to provide funds for mental health services, as such term is defined in section 208.152, for Missourians.
(2) There is hereby created in the state treasury the "Mental Health Services Handgun and Ammunition Sales Tax Fund", which shall consist of money collected under this subsection. The state treasurer shall be custodian of the fund. In accordance with sections 30.170 and 30.180, the state treasurer may approve disbursements. The fund shall be a dedicated fund and, upon appropriation, money in the fund shall be used solely as provided in this subsection. Notwithstanding the provisions of section 33.080 to the contrary, any moneys remaining in the fund at the end of the biennium shall not revert to the credit of the general revenue fund. The state treasurer shall invest moneys in the fund in the same manner as other funds are invested. Any interest and moneys earned on such investments shall be credited to the fund.