SB 0866 Provides a centralized filing system in the records of the Division of Finance
LR Number:3717S.01I Fiscal Note:3717-01
Committee:Financial and Governmental Organization
Last Action:05/12/00 - S Inf Calendar S Bills for Perfection Journal page:
Effective Date:August 28, 2000
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Current Bill Summary

SB 866 - This legislation provides a centralized filing system for financial institutions. It proposes that all official filings be kept in the public records of the Division of Finance. The legislation also modifies the definition of a "trust" for income tax purposes by requiring that at least one income beneficiary be a resident of Missouri. In addition, this legislation allows an additional tax credit to banking institutions equal to one-sixtieth of one percent of its outstanding shares and surplus.