SS/SCS/HB 754 - This act modifies provisions relating to certain financial organizations. TAX CREDIT FOR NEIGHBORHOOD ASSISTANCE PROGRAMS (Section 32.115) Current law authorizes a tax credit for business firms which engage in providing affordable housing assistance activities or market rate housing in distressed communities (Housing Credit), with the total amount of such tax credits not to exceed $10 million in a fiscal year. Current law also authorizes a tax credit for business firms which makes a contribution to a neighborhood organization that provides affordable housing assistance activities or market rate housing in distressed communities (Contribution Credit), with the total amount of such tax credits not to exceed $1 million in a fiscal year. This act provides that any amount of the $10 million in Housing Credits not authorized in a fiscal year may be authorized for Contribution Credits during the same fiscal year, provided that the total combined amount of Housing and Contribution credits shall not exceed $11 million during the fiscal year. This provision is identical to SB 399 (2025), SB 1175 (2024), HB 2090 (2024), and SB 661 (2023), and to a provision in SCS/HCS/HB 1775 (2024) and substantially similar to a provision in HCS/SS/SB 67 (2025) and HB 1303 (2025). TAXABLE INCOME OF TRUSTS AND ESTATES (SECTIONS 143.081 & 143.341) Beginning January 1, 2026, an income tax deduction shall be included for the amount in the Missouri taxable income of the estate or trust that would not be included as Missouri taxable income if the estate or trust were considered a nonresident estate or trust. This deduction shall only apply to the extent it is not a determinant of the federal distributable net income of the estate or trust. Additionally, current law authorizes a taxpayer to claim a tax credit for income tax paid to another state on income that is also taxable in Missouri. This act provides that such credit shall be allowed with respect to any estate or trust of which the Missouri adjusted gross income is excluded from Missouri taxable income according to this act. These provisions are identical to provisions in the truly agreed to SS/SCS/SB 98 (2025) and SCS/HCS/HB 1259 (2025). INCOME TAXATION ON GOLD AND SILVER SPECIE (Section 143.121) Current law exempts all purchases of bullion and investment coins from all state and local sales taxes. This amendment additionally exempts from state income tax the portion of capital gain on the sale or exchange of gold and silver specie that are otherwise included in the taxpayer's federal adjusted gross income. This provision is identical to a provision in SB 25 (2025). MONEY TRANSMISSION MODERNIZATION ACT OF 2024 - EXEMPTION FOR PAYROLL PROCESSING SERVICES (SECTION 361.909) The Money Transmission Modernization Act of 2024 shall not apply to any person appointed as an agent of payor for payroll processing services who would otherwise need to be licensed by the Director of the Division of Finance within the Department of Commerce and Insurance if certain conditions specified in the act apply. This provision is identical to a provision in the truly agreed to SS/SCS/SB 98 (2025) and HB 707 (2025) and substantially similar to a provision in SS/SB 61 (2025). VIRTUAL CURRENCY KIOSKS (Section 361.1100) This act creates the "Virtual Currency Kiosk Consumer Protection Act" which establishes certain requirements pertaining to and regulations governing virtual currency kiosk operators. Each virtual currency kiosk operator must meet the following requirements: • Operators must make certain disclosures upon establishing a relationship with a customer or prior to opening an account for a new customer, indicating the material risks associated with the products, services, and activities offered, as well as the terms and conditions of the services provided; • Upon completing a transaction, an operator shall provide a receipt containing specific information, as detailed in the act; • Operators shall operate live customer service weekdays between 8:00 a.m. and 10:00 p.m.; • Operators must take steps to prevent fraud, as specified in the act, including by establishing and maintaining a written anti-fraud policy and by the use of blockchain analytics; • Operators must maintain, implement, and enforce a written "Enhanced Due Diligence Policy"; • Operators must designate and employ a compliance officer with responsibilities as described in the act, and maintain, implement, and enforce written compliance policies and procedures; • Operators must designate and employ a consumer protection officer, with responsibilities as described in the act. Virtual currency kiosk operators are required to submit quarterly reports to the Division of Finance detailing the location of each virtual currency kiosk located in the state. Virtual currency kiosk operators are deemed to be money transmitters and are required to be licensed under and comply with the Money Transmission Modernization Act of 2024. The Director of the Division of Finance is permitted to request evidence showing compliance with this act as reasonably necessary or appropriate to administer the act. An operator is required to provide the Director with any records so requested. All information or reports obtained by the Division from a virtual currency kiosk operator, and all information contained in or related to an examination, investigation, operating report, or condition report are confidential and not subject to disclosure under the Sunshine Law. These provisions are identical to SB 779 (2025), certain provisions in the truly agreed to SS/SCS/SB 98 (2025), and HB 1428 (2025). ARTICLES OF AGREEMENT (Section 362.020) The act allows the articles of agreement for any bank or trust company to provide for the issuance of additional shares of capital stock or other classes of stock pursuant to the same procedures and conditions as provided under current law, provided that such terms and procedures are acceptable to the Director of Finance and provided that any notice or other approval required to be given or obtained from the State of Missouri shall be given or obtained from the Director of the Division of Finance. These provisions are identical to certain provisions in the truly agreed to SS/SCS/SB 98 (2025), SS/SCS/SB 97 (2025), and the perfected HB 707 (2025). BOARD MEETINGS (Section 362.247 and 362.275) The act allows directors to attend board meetings by phone or video unless otherwise specifically prohibited by law or by a memorandum of understanding entered into with the Director of Finances related to bank safety and soundness. Additionally, a requirement that a fourth list required to be presented at board meetings related to tracking loans to directors, officers, and employees is repealed. These provisions are identical to certain provisions in the truly agreed to SS/SCS/SB 98 (2025), SS/SCS/SB 97 (2025), and the perfected HB 707 (2025). PUBLICATION OF FINANCIAL REPORTS (Section 362.295) A provision requiring certain financial reports of a bank or trust company to be published in a newspaper is repealed and a provision is created in its place requiring a bank or trust company to provide a paper or electronic copy of any regular periodic report required to be filed with the Director of Finance to each customer that requests it. These provisions are identical to certain provisions in the truly agreed to SS/SCS/SB 98 (2025), SS/SCS/SB 97 (2025), and the perfected HB 707 (2025). TRUSTED CONTACTS (Sections 362.424 and 370.245) This act allows any bank, as that term is defined in the act, and any credit union to report suspected fraudulent activity or financial exploitation targeting any of its customers or members to a federal, state, county, or municipal law enforcement agency or any appropriate public protective agency and shall be immune from civil liability in doing so. Banks and credit unions are additionally allowed to offer a trusted contact program to its customers and members who desire to designate one or more trusted contacts for the bank to contact under certain circumstances delineated in the act. The trusted contact program is subject to restrictions as described in the act. A bank or credit union shall not be liable for the actions of a trusted contact and shall not be civilly liable for implementing or not implementing a trusted contact program or for actions or omissions related to providing or administering a trusted contact program. A person designated as a trusted contact who acts in good faith and exercises reasonable care shall be immune from liability. These provisions are identical to certain provisions in the truly agreed to SS/SCS/SB 98 (2025), SB 99 (2025), SS/SCS/SB 97 (2025), and HB 1049 (2025) and substantially similar to HB 229 (2025) and the perfected HB 707 (2025). SINGLE BANK POOLED COLLATERAL (Section 362.490) This act creates an alternative for banking institutions serving as depositaries for public funds to secure their deposits in lieu of the method provided by current law, known as the "single bank pooled method". This method allows a banking institution to secure the deposit of public funds of one or more government entities through a pool of eligible securities held in custody and safe-keeping with one or more other banking institutions or safe depositaries, to be held subject to the order of the Director of the Division of Finance or an administrator, appointed as provided in the act, for the benefit of the government entities having public funds deposited with such banking institution. The act prohibits the use of the single bank pooled method absent the appointment of an administrator for that purpose, as provided in the act. Furthermore, the administrator may be required to post a surety bond in an amount up to $100,000. The administrator of the single bank pooled method may establish such procedures and reporting requirements as necessary for depository banking institutions and their safe keeping banks or depositaries to confirm the amount of insured public fund deposits, the pledge of securities to the administrator to secure the deposit of public funds, as agent for each participating banking institution, and to monitor the market value of pledged securities as reported by the custody agents, and to add, substitute or remove securities held in the single bank pool as directed by the depository banking institution. In the event of the failure and insolvency of a banking institution using the single bank pooled method, subject to any order of the director, the administrator shall direct the safe keeping banks or depositaries to sell the pledged securities and direct proceeds to the payment of the uninsured public fund deposits or to transfer the pledged securities to that banking institution's primary supervisory agency or the duly appointed receiver for the banking institution to be liquidated to pay out the uninsured public fund deposits. These provisions are identical to certain provisions in the truly agreed to SS/SCS/SB 98 (2025), SB 657 (2025), SS/SCS/SB 97 (2025), HB 1313 (2025), and the perfected HB 707 (2025). USE OF CERTIFIED FUNDS (Section 381.410) This act modifies the definition of "certified funds" for purposes of a statute regulating the use of certain funds by real estate settlement agents and title insurance agents. This provision is identical to certain provisions in the truly agreed to SS/SCS/SB 98 (2025), SB 488 (2025), HB 1257 (2025), and to provisions in HCS#2/SS/SCS/SB 835 (2024) and substantially similar to SCS/SB 836 (2024). LEGAL TENDER (Section 408.010) The amendment creates the "Constitutional Money Act" and declares that electronic specie currency, as that term is defined in the act, shall be accepted as payment for all public debts and may be received as payment for all private debts contracted for in the state of Missouri, in the discretion of the receiving entity. The Director of the Department of Revenue is required to promulgate rules on the methods of acceptance of electronic specie currency as payment for any debt, tax, fee, or obligation owed. Except as expressly provided by contract, no person or entity shall be required to use specie legal tender or electronic currency in the payment of any debt and nothing in this act shall prohibit the use of federal reserve notes in the payment of any debt. The act permits any entity doing business in this state to, upon request by an employee, compensate its employees, in full or in part, in the dollar equivalent specie legal tender either in physical or in electronic transfer form. Any entity choosing to compensate its employees in specie legal tender shall be responsible for verifying the weight and purity of any physical specie legal tender before compensating employees. Under no circumstance shall the state of Missouri or any department, agency, political subdivision, or instrumentality thereof: • Seize from any person any specie legal tender or electronic currency that is owned by such person, except as otherwise provided by law. Any person whose specie legal tender or electronic currency is seized in violation of this provision shall have a cause of action in a court of competent jurisdiction, with any successful such action resulting in the award of attorney's fees; • Enforce or attempt to enforce any federal acts, laws, executive orders, administrative orders, rules, regulations, statutes, or ordinances infringing on the right of a person to keep and use specie legal tender and electronic currency as provided in this act; • Restrict in any way the ability of a person or financial institution to acquire specie legal tender and electronic currency or use specie legal tender and electronic currency in transactions; or • Enact any law discriminating or favoring one means of legal tender in the course of a transaction over another means of legal tender. This provision is substantially similar to SB 25 (2025), SB 194 (2025), a provision in the perfected HCS/HB 433 (2025), HB 630 (2025), HB 733 (2025), the perfected SS/SCS/SB 735 (2024), provisions in the perfected SS/SCS/SB 835 (2024), SB 866 (2024), HB 1867 (2024), HCS/HBs 1955 & 2257 (2024), and the perfected SS/SCS/SB 100 (2023). COMMERCIAL FINANCING DISCLOSURE LAW (Section 427.300) Current law contains various exemptions from the Commercial Financing Disclosure Law. This act adds commercial financing products that are premium finance agreements, as defined in current law, offered or entered into by a provider that is a registered premium finance company to that list. This provision is identical to certain provisions in the truly agreed to SS/SCS/SB 98 (2025), a provision in SS/SCS/SB 97 (2025), and the perfected HB 707 (2025). DORMANT ACCOUNTS (Section 447.200) The act repeals a provision of law relating to dormant accounts that requires certain financial institutions to notify the account holder of such dormancy. These provisions are identical to certain provisions in the truly agreed to SS/SCS/SB 98 (2025), SS/SCS/SB 97 (2025) and a provisions in the perfected HB 707 (2025). ESTATE PLANNING This act modifies provisions relating to estate planning, including notice for transfers of the principal place of administration of a trust, electronic wills, and estate planning during the COVID-19 state of emergency. PRINCIPAL PLACE OF ADMINISTRATION OF A TRUST (SECTION 456.1-108) This act provides that the notice of a proposed transfer of a trust's principal place of administration shall include a notice stating that a change in the place of administration may result in a change of the trust's governing law, which may affect the rights of any beneficiaries if the new governing law differs from the current governing law. This provision is identical to a provision in SB 289 (2025), SCS/SBs 1221 & 988 (2024), in SCS/SB 897 (2024), and in SB 569 (2023). STATUTE OF LIMITATIONS ON ACTIONS AGAINST A TRUSTEE (SECTION 456.10-1005) Currently, if a trustee has not furnished a report on potential claims or such report fails to meet the information requirements, a proceeding against a trustee for breach of trust shall be commenced within five years after the first of certain events. This act modifies the provision by providing that such action shall be commenced within the first of: (1) The removal, resignation, or death of the trustee; (2) The occurrence of the event causing a termination of the beneficiary's interest in the trust; or (3) The occurrence of the event causing a termination of the trust. This provision is identical to a provision in SB 289 (2025). MISSOURI ELECTRONIC WILLS AND ELECTRONIC ESTATE PLANNING DOCUMENTS ACT (SECTIONS 474.540 TO 474.564) This act establishes the "Missouri Electronic Wills and Electronic Estate Planning Documents Act" which provides for the execution of wills through electronic methods. An electronic will shall be a will for all purposes of the laws of this state. An electronic will is a record that is readable, and remains accessible, as text at the time of signing by the testator or by another individual in the testator's name, in the testator's physical presence, and by the testator's direction. Additionally, an electronic will shall be signed by at least two individuals in the physical or electronic presence of the testator within a reasonable amount of time after witnessing the signing of the will or acknowledgment of the will or signing. Furthermore, an electronic will that has not been executed in compliance with these requirements shall still be considered an electronic will under this act if executed in compliance with the law of the jurisdiction where the testator is physically located when the will was signed or where the testator is domiciled or resides when the will is signed or upon his or her death. The intent of the testator that the record be an electronic will may be established by extrinsic evidence. As provided in the act, an electronic will may be made self-proving by acknowledgment of the testator. An electronic will may revoke all or part of a previous will and an electronic will shall be revoked by use of: (1) A subsequent will that revokes the electronic will expressly or by inconsistency; (2) A written instrument signed by the testator declaring the revocation; or (3) A physical act, if established by a preponderance of the evidence that the testator, with the intent of revoking, performed or directed another individual to perform the act in the testator's physical presence. Additionally, if there is evidence that a testator signed an electronic will, but neither the electronic will nor a certified paper copy can be located after a testator's death, there shall be a presumption that the testator revoked the electronic will, even if no instrument or later will revoking such electronic will can be located. At any time during the administration of the estate or as determined by the court if there is no grant of administration, the court may issue an order for a custodian of an account held under a terms-of-service agreement to disclose digital assets for purposes of obtaining an electronic will from the account of a deceased user. Furthermore, this act provides that any written estate planning document, as defined in the act, may be executed electronically and no such estate planning document shall be invalid or void solely because of its electronic form or electronic signatures. Any written estate planning document that requires one or more witnesses to the signature of a principal may be witnessed by any individual in the electronic presence of the principal. Additionally, this act provides that a person who acts in reliance upon an electronically executed written estate planning document shall not be liable to any person for so relying and may assume without inquiry the valid execution of the electronically executed written estate planning document. An individual may create a certified paper copy of an electronic will or estate planning document by affirming under penalty of perjury that a paper copy of the electronic will or document is a complete, true, and accurate copy. If a provision of law or rule of procedure requires a will or document to be presented or retained in its original form or provides consequences for the failure to present or retain the will or document in its original form, a certified paper copy shall satisfy the provision or rule. This act also supersedes the federal Electronic Signatures in Global and National Commerce Act, except for certain provisions relating to consumer disclosures, and does not authorize electronic delivery of certain notices. Finally, this act shall apply to any will of a decedent who dies on or after August 28, 2025, and to any written estate planning document signed or remotely witnessed on or after August 28, 2025. These provisions are identical to provisions in SB 289 (2025), substantially similar to provisions in SCS/SB 897 (2024), in SCS/SBs 1221 & 988 (2024), in SCS/HCS#2/HB 1886 & HCS/HB 2064 (2024), in HB 2109 (2024), in CCS/HCS/SS/SCS/SB 72 (2023), in SB 569 (2023), and in HB 881 (2023). ESTATE PLANNING DURING COVID-19 (SECTION 474.600) With respect to the execution of an estate planning document, a person required for the execution of an estate planning document shall be deemed to have satisfied any physical presence requirement under Missouri law during the COVID-19 state of emergency if the following requirements were met: (1) The signer affirmatively represented that he or she was physically in this state; (2) The notary was physically located in this state and stated the county he or she was physically located in; (3) The notary identified the signers to the satisfaction of the notary and Missouri law; (4) Any person whose signature was required appeared using video conference software where live, interactive audio-visual communication between the principal, notary, and any other necessary person allowed for observation, direct interaction, and communication at the time of signing; and (5) The notary recorded in his or her journal the exact time and means used to perform the act. These requirements shall be deemed satisfied if a licensed Missouri attorney present at the remote execution signs a written acknowledgment made before an officer authorized to administer oaths and evidenced by the officer's certificate, which shall be affixed to or logically associated with the acknowledgment. This provision is identical to a provision in SB 289 (2025) and substantially similar to a provision in SCS/SB 897 (2024), in SCS/SBs 1221 & 988 (2024), in SCS/HCS/HB 2064 & HCS#2/HB 1886 (2024), HB 2109 (2024), in CCS/HCS/SS/SCS/SB 72 (2023), in SB 569 (2023), and in HB 881 (2023). SCOTT SVAGERA