NewsMarch 14, 2002
Highlights of education bills passed Wednesday: Funding The state formula that funds public elementary and secondary schools would gain: $47.7 million by raising so-called casino entrance fees to $3 from $2 for each person during each two-hour gambling period...

Highlights of education bills passed Wednesday:

Funding

The state formula that funds public elementary and secondary schools would gain:

$47.7 million by raising so-called casino entrance fees to $3 from $2 for each person during each two-hour gambling period.

$24.8 million by requiring Missouri-based businesses to pay state income taxes on revenues raised at out-of-state stores.

$23.4 million by increasing net revenue taxes on casinos to 22 percent from 20 percent.

$18.4 million by ending tax discount that Missouri businesses receive for paying employee withholding taxes in a timely fashion.

$15 million by providing a two-month period for people to pay overdue taxes without penalties or interest.

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$10 million by keeping for the state, instead of returning to businesses, unclaimed overcollected state sales taxes.

$6 million by ending the requirement for the state to pay interest on refunds under amended tax returns on which tax credits are claimed.

$5 million by ending a practice under which Missouri companies can form subsidiaries in states without income taxes to avoid Missouri income taxes.

Accountability

Allows schools with high-performing students to be exempt from some administrative rules.

Requires poor-performing schools to submit improvement plans to the state or face the loss of state funding.

Requires some teachers and administrators in poor-performing schools to undergo more training.

-- AP

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