FOR IMMEDIATE RELEASE
Wednesday, March 20, 2013
Contact: Communications Department, (573) 526-0949
Initiative Petition Relating to a State Income Tax Credit Approved for Circulation for 2014 Ballot
The official ballot title for the petition reads:
Shall Missouri law be amended to create an individual and corporate state income tax credit of 60% of the amount donated to Missouri not-for-profit elementary and secondary schools or school districts and Missouri not-for-profit foundations providing scholarships for Missouri secondary school graduates to attend Missouri not-for-profit higher education colleges and universities (this credit cannot exceed the donor's state income tax liability for the year)?
Annual state government revenue may decrease by an estimated $236 million to $938 million. Annual state operating costs may increase by at least $200,000. Reduced state revenue could result in decreased state funding for local governments and public education entities. Public education entities could have an unknown increase in donation revenue.
The petition, which would amend Article X of the Missouri Constitution, was submitted by Mr. Herman Kriegshauser, 19 Jennycliff Lane, Chesterfield, MO 63005 (636) 223-4555.
Before any constitutional changes can be brought before Missouri voters in the November2014 election, signatures must be obtained from registered voters equal to eight (8) percent of the total votes cast in the 2012 governor's election from six of the state's eight congressional districts.
Signatures on behalf of all initiative petitions for the 2014 ballot are due to the secretary of state's office by no later than 5 p.m. on May 4, 2014.
Before circulating petitions, state law requires that groups must first have the form of their petition approved by the secretary of state and attorney general. The secretary of state then prepares a summary statement of no more than 100 words and the state auditor prepares a fiscal impact statement, both of which are subject to the approval of the attorney general. When both statements are approved, they become the official ballot title.
Visit www.sos.mo.gov to learn more about the Office of the Missouri Secretary of State.
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