February 14, 2024

The Missouri General Assembly adjourned early this week for lawmakers to attend the Kansas City Chiefs Super Bowl celebration and parade today. Most hearings scheduled for Tuesday afternoon, Wednesday and Thursday were canceled. The Missouri Senate spent Monday and Tuesday debating initiative petition reform. Democrats filibustered the bill until Republican leadership adjourned for the week yesterday evening. The Senate has yet to pass a bill this session.

House Gives Initial Approval to MOBUCK$ Measure

A bill to increase the cap on the state’s MOBUCK$ program received initial approval in the Missouri House this week. House Bill 1803, which would increase the cap from $800 million to $1.2 billion, now heads to the House Fiscal Review Committee and, if approved, will likely come up for a final vote by the full House next week. MBA thanks Rep. Terry Thompson, R-Lexington, for carrying the bill.

House Approves Bill on Eviction Moratoriums

The House also approved a bill that would ban local governments from implementing their own moratorium on eviction proceedings. House Bill 2062, sponsored by Rep. Chris Brown, R-Kansas City, was approved 111-26. The bill now heads to the Senate for further debate.

Trust, Wealth Management Legislation Advances

Two separate bills relating to trusts and wealth management also moved forward this week.

House Bill 1987, which modifies Missouri’s Principal and Income Act to resemble the latest version of the Uniform Fiduciary Income and Principal Act, was heard in the House Financial Institutions Committee. The bill is sponsored by Rep. Terry Thompson, R-Lexington.

Meanwhile, House Bill 1886, sponsored by Rep. Rudy Veit, R-Wardsville, received first round approval by the House. This bill has several provisions, including the Missouri Electronic Wills and Electronic Planning Documents Act and modifications to qualified spousal trusts.

Target Banker Visits Key to Defeat CU Bill

The Missouri Credit Union Association held its advocacy day yesterday. Attendees focused primarily on advancing legislation to expand credit union field of membership in Missouri (House Bill 2452). MBA staff asks all member banks to register for MBA’s Target Banker program to discuss our opposition to these efforts with their lawmakers.