Modifies an income tax deduction for contributions to 529 savings accounts

Summary

The bill repeals the current tax provision and creates a new one that lets Missouri taxpayers deduct contributions to the state’s own education deposit and tuition programs, but not to out‑of‑state 529 plans, beginning in 2026. It keeps the $8,000 individual ($16,000 joint) deduction limit and requires any non‑qualified withdrawals to be added back to income. The change aims to encourage use of Missouri‑run college savings plans.

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