MIBA Lobbying Report As I write this, Gov. Mike Kehoe signed both SB 98 and HB 754, two pieces of legislation that changed Missouri finance law, into law on July 9. SB 98, sponsored by Sen. Sandy Crawford, was approved and, among other issues, adds the trusted contact provisions sought by MIBA to the law and repeals the requirement that banks and trust companies publish financial reports in a newspaper. HB 754, sponsored by Philip Oehlerking, was also approved and includes the trusted contact provisions sought by MIBA, as well as several other items that were also included in SB 98. The differences in the two bills are that HB 754 changes how gold and silver are taxed and creates the “Constitutional Money Act” that allows “specie” (precious metals) to be used to pay public and private debts using a debit card tied to a precious metals deposit account. HB 754 also includes several provisions regarding trusts and estates. All of the changes in SB 98 and HB 754 will assist banks and trust companies from a management and operational perspective. Thank you to MIBA members, Executive Director Ruge and staff for your assistance this year, and we look forward to working with MIBA in the future. Andy Arnold Arnold & Associates 16 | The Show-Me Banker Magazine
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