Missouri REALTORS® priority legislation crossed the legislative finish line last week and is headed to Gov. Mike Kehoe’s desk, with legislative adjournment coming this Friday, May 16, at 6:00 p.m.
SECTION 8: House Bill 595, prohibiting local governments from forcing property owners to accept Section 8 housing vouchers, cleared the House on a 103-37 vote, then passed the Senate and advanced to the governor 23-10. Before the vote, House and Senate conferees removed Senate-inserted language exempting part of the Kansas City area from the ban. HB595, sponsored by Rep. Chris Brown, D-Kansas City, was amended to include another REALTOR® priority, the model bill regarding buyer’s agent contracts. HB595 was carried in the Senate by Sen. Nick Schroer, R-St. Charles County. Sen. Schroer called it a “commonsense bill that was just limiting what political subdivisions can do when it comes to property rights.” And Rep. Brown said during the House’s final debate: “Various municipalities are trying to force landlords to put their homes into Section 8 programs … We feel like that is overstepping their authority.”
BROKERAGE SERVICES: In addition to the language amended onto HB595 that advanced to the governor, the REALTOR® priority, which requires a signed written contract with a buyer’s agent before real estate activities are performed on behalf of a client, is in another bill, HB596. That legislation also adds REALTOR®-supported language to the real estate licensing law to more closely align Missouri’s statutory definitions with software being implemented by the commission. That measure is set for a hearing Monday afternoon before the House Fiscal Review Committee and is expected to advance to the full House. HB596 is also sponsored by Rep. Chris Brown.
CAPITAL GAINS: Another REALTOR® priority, cutting the capital gains tax, cleared the legislative process and was sent to the governor. HB594, sponsored by Rep. Chad Perkins, R-Bowling Green, would allow Missourians to deduct from their state taxes all capital gains taxes reported on federal taxes. As the St. Louis Post-Dispatch reported: “Capital gains are profits made on the sale of assets — land or stocks, for example — which have increased in value over the holding period. The measure also would increase income limits and credit amounts for the property tax relief program known as ‘circuit breaker’, as well as exempt diapers and feminine hygiene products from sales tax.”
STATE BUDGET: Senate and House negotiators completed work on the $49.8 billion state budget for the fiscal year starting July 1, and both chambers approved the operating budget bills and sent them to Gov. Kehoe. The operating budget faced a constitutional deadline for passage last Friday, However, the House did not vote on Senate-approved House Bill 19, which pays for building projects. As the Missouri Independent reported: “Missouri House Republicans unexpectedly refused to allow a vote Friday on a $513 million spending bill for construction projects, citing a desire to control spending for a move that was kept secret from Democrats in the chamber and members of the state Senate. The move sank funding for major projects around the state, including National Guard facilities, Boys and Girls clubs, and community health centers, to name a few …” The proposals could be considered in a special session, or funding for projects could be delayed another year.
Last week’s victories for REALTOR® priorities were a combination of effectively playing offense and defense this session by our lobbying team and visiting REALTORS®. Legislation opposed by REALTORS® is still being actively monitored but there is no recent movement, including various proposals to impose a sales tax on services and to regulate foreign agricultural land sales.
To view additional resources and information, visit our Legislative Priorities and Updates page.