Senate Bill 784, a bill sponsored by Senator Bob Onder and promoted by Associated Industries of Missouri, was approved by the Senate Ways and Means Committee this morning on a 7-2 vote, with only Senators Sifton and Schupp voting against the measure.
The bill would clarify the existing sales and use tax exemption for materials used to generate electricity should also be allowed for materials used to transmit and distribute electricity. The bill results in a savings to the state because it would block refund claims that could be filed and the exemption would apply prospectively only to state sales and use taxes under the bill. Consumers will benefit because taxes are added to rates paid for electricity.
The bill now moves to the full Senate for consideration. AIM thanks Senator Onder and Committee Chairman Senator Will Kraus for moving this bill so quickly.