Week of March 25, 2024

Back with Purpose

Greetings! The Senate is back in session after the break this last week and I for one am ready to hit the ground running.

My family also had the chance to visit the Senate Chamber, including my wife, Michelle, (far right corner) and my grandson Barrett (bottom left) who had the honor of being appointed as page for the day

My Senate Bill 1207 was heard in the Senate Chamber this week. This bill provides a tax incentive to employers who hire veterans, those with disabilities and others outlined in the federal Work Opportunity Tax Credit. I have also added the provisions outlined in my Senate Bill 725 and Senate Bill 823 in a substitute to SB 1207. 

The first bill, SB 725, aims to gradually eliminate Missourian’s personal property tax liability. It does this by lowering the percentage owed on personal property taxes by the same amount that real property revenues increase each year. This would reduce the overall tax burden and give Missourians the freedom they need to handle rising inflation. Under this bill, organizations that rely on personal property taxes will be issued a refund from the state for any loss in revenue. Easing the tax burden on Missourian’s personal property while maintaining current funding is a win we can all be happy about.

Barret did a great job and waited patiently as he served in the Senate ChamberMeanwhile, the provisions outlined in SB 823 lower the tax rate for corporations in Missouri by a quarter of a percent. As their tax burden increases they can also qualify for up to three more half-percent reductions. This will encourage companies to bring their business to Missouri and keep it here. 

I am in negotiations with other senators to ensure this updated version of SB 1207 makes it through to the House.

Senate Bill 894, which is identical to my Senate Bill 825 was also perfected this week. This bill would establish an Office of Entrepreneurship within the Department of Economic Development to help assist small business owners. It would also create the “Regulatory Sandbox Act” which would allow businesses focused on innovative products and services to avoid certain restrictive regulations and instead workI enjoyed meeting with UCM students specializing in Marriage and Family Therapy. They were accompanied by Dr. Adriatik Likcani, Program Director. on developing their business. This should help Missouri’s overall economy grow by cultivating competition and innovation across all sectors. 

I also supported the passing of Senate Bill 912. Among several other provisions, this bill creates a ban on foreign land ownership. Specifically, it aims to protect our agricultural lands. This will help fight the encroachment of our adversaries and keep our land in the hands of Missourians where it belongs. The bill now moves to the Missouri House of Representatives.

It was a pleasure to meet Compass Health officials, Donovan Bock and Donni Kuck.I will keep you updated in the second half of this session on the progress of my bills and other important legislation as well as the progress the Senate makes on the budget. 

As always, I appreciate hearing your comments, opinions and concerns. Please feel free to contact me in Jefferson City at 573-751-4302. You may also email me at denny.hoskins@senate.mo.gov.It was wonderful to welcome the Wasson family to the Capitol. L-R: Arynn, Kasen and Stephanie.