Representative JIm Neely's Capitol Report
Greetings, friends of the 8th Legislative District!
Governor Takes Final Actions on Legislation
As the July 14 deadline for the governor to take action on bills approached, Gov. Parson signed several pieces of legislation into law, and vetoed a handful of others. In total, Gov. Parson signed 63 bills after taking office. In addition to the bills signed by the previous governor, the legislature saw the majority of the 150 bills it truly agreed signed into law.
The governor vetoed only three bills and said he would reach out to House and Senate leadership to explore options and discuss efforts to address veto concerns. The governor had also issued 21 line-item vetoes in the state budget. In total, he line-item vetoed more than $12 million in funding contained in 10 different appropriations bills.
Lawmakers will now consider what, if any, actions to take with the vetoed bills. The House Budget Committee met July 17 to review the line-item vetoes in the budget. Committee members used the time to gather information to assess whether immediate action needs to be taken to address the programs that will lose funding because of the vetoes. Legislators will next meet in September for the annual Veto Session where they could decide to attempt to override some of the governor’s vetoes.
Helping First-Time Home Buyers (HB 1796)
The governor recently signed legislation that will make it easier for Missourians to save money to buy their first home. The bill establishes the First-Time Home Buyer Savings Account Act and authorizes a tax deduction for contributions to a savings account dedicated to buying a first home.
The bill would authorize an individual income tax deduction for 50 percent of the contributions to the account. It would have an annual contribution deduction limit of $1,600 per taxpayer. The bill specifies the maximum contribution limit for all tax years will be $20,000 and the maximum total amount in the savings account will be $30,000. Funds in the savings account can be used only for eligible expenses of purchasing a primary residence in this state, transferred to another first-time home buyer savings account or used to pay service fees.
Supporters say the bill will help first-time home buyers, who often find it hard to come up with a down payment and closing costs for a new home. The act will go into effect for first-time home buyers on January 1, 2019.
Yours in service,
Representative Jim Neely
Proudly Serving the 8th House District
Clinton, Caldwell, Ray, & Clay Counties
Missouri House of Representatives
573-751-0246
