Modifies provisions relating to the calculation of income tax, establishing new progressive personal income brackets and repealing income tax subtractions for certain capital gains, with a referendum clause

Summary

The bill changes how Missouri calculates personal income tax by creating new progressive brackets and eliminating certain capital‑gain deductions. It sets a top marginal rate of 4.95% for 2023‑2026, allows limited reductions if state revenue climbs, and introduces a different bracket structure beginning in 2027. The measure failed to pass.

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