Greitens Signs 77 Bills Into Law, Including MBA Priority Measure

Legislation updating and modernizing Missouri’s public funds statute was one of several MBA-supported bills signed into law today by Gov. Eric Greitens. House Bill 1879 is intended to improve efficiencies and lower administrative costs for banks serving or bidding to serve as public depositaries. The bill, MBA's top priority this session, was based on recommendations put forward by the MBA Public Funds Task Force. The law takes effect Tuesday, Aug. 28.

Greitens signed a total of 77 bills into law today hours before his resignation, effective at 5 p.m. Lt. Gov. Mike Parson will be sworn in as governor at 5:30 p.m. today.

Other bills of interest signed into law by Greitens follows. Unless noted, all bills are effective Tuesday, Aug. 28.

  • Senate Bill 884 — lowers the corporate tax rate from 6.25 percent to 4 percent; legislation does not take effect until Jan. 1, 2020
  • House Bill 1250 — includes several provisions pertaining to trust law, including health savings accounts and uneconomic trusts; Fiduciary Access to Digital Access Act also is in this bill 
  • Senate Bill 623 — ensures the lienholder of record receives priority to the surplus of funds after a property tax foreclosure sale
  • House Bill 1832 — increases the penalty for someone who uses or possesses a card skimming device from a misdemeanor to a felony
  • House Bill 1769 — creates the offense of filing a false document with the intent to defraud or harass someone financially
  • House Bill 1880 — clarifies that electric co-operatives may use their existing right-of-way for fiber-optic cable
  • Senate Bill 590 — makes a number of changes to Missouri’s Historic Preservation Tax Credit Program
  • Senate Bill 819 — changes the laws on contracts to allow a minor who is 16 years or older and in the legal custody of the Missouri Department of Social Services Children’s Division to open a checking or savings account

Included among the bills not yet signed is Senate Bill 769, which reduces the financial institutions tax proportionally with a reduction in the corporate tax rate. The Business Premises Safety Act, First-time Homebuyer Savings Account Act and a bill that repeals a provision of law that required a landlord to keep all security deposits in a trust account are among the other bills not signed today.

Parson has until Saturday, July 14, to sign, veto or allow legislation to become law without signature.