- Introduced -

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.