All Roll Calls
Yes: 448 • No: 31
MissouriHB7542025 Regular SessionHouseWALLET
Modifies standards for certain financial organizations
Sponsored By: Philip Oehlerking (Republican)
Signed by Governor
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Bill Overview
Analyzed Economic Effects
26 provisions identified: 15 benefits, 4 costs, 7 mixed.
Financing brokers face fees and fines
Commercial-financing brokers must register, post a $10,000 surety bond, pay $100 initially, and renew for $50 by January 31 annually. Registration starts six months after final rules if the Division of Finance intends rulemaking; otherwise, the stated start is February 28, 2025. Commercial-financing violations carry $500 per incident, capped at $20,000 for the same transaction documents or materials. After written notice of a prior violation from the attorney general, later violations carry $1,000 each, capped at $50,000. Only the attorney general enforces these rules; they create no private lawsuit right, and violations do not invalidate financing agreements.
Financing brokers face registration and bonding
Paid commercial financing brokers in Missouri must register with the Division of Finance and maintain a $10,000 surety bond. Registration costs $100 initially, with a $50 annual renewal fee. Employees working within their jobs for a compliant broker need no separate registration or bond. Requirements begin six months after final rules if the division intends to issue rules. Otherwise, the start date is February 28, 2025.
Estate documents can use electronic signatures
Powers of attorney, health directives, trusts, beneficiary deeds, and nonprobate transfers can be signed electronically. Electronic form alone cannot invalidate them, and witnesses can attend electronically. Separately signed pages must be attached or incorporated; certified paper copies require a sworn statement that they are complete and accurate. People relying on these documents may assume valid execution without inquiry and receive liability protection for that reliance. These rules apply to documents signed or remotely witnessed on or after August 28, 2025; electronic signing remains optional.
Missouri recognizes electronically signed wills
Missouri recognizes electronic wills that are readable when signed and remain available as text. The will-maker must sign, or direct someone to sign in the will-maker's physical presence, with two witnesses observing in person or electronically. Without a self-proving affidavit signed at that time, witnesses must be state residents and physically within a state. The law also allows self-proving affidavits, including remote online notarization when fewer than two witnesses are physically present. These rules cover people dying on or after August 28, 2025; specified signing, residence, or domicile connections can allow another jurisdiction's rules.
Past emergency estate signings gain recognition
The law recognizes qualifying remote estate-document signings from April 6, 2020, through December 31, 2021. Signers had to state they were in Missouri, and the notary had to be in Missouri and identify them. Required signers had to appear through live, interactive video; the notary also had location and journal-record duties. Alternatively, a Missouri-authorized attorney present at signing can supply the prescribed written acknowledgment, certified under seal by an authorized officer.
Trust beneficiaries get advance transfer warnings
Trustees planning to move a trust's main place of administration must notify qualified beneficiaries at least 60 days ahead. The notice must explain that the move may change the governing law and affect beneficiaries' rights. Beneficiaries can object to the proposed transfer.
Banks can offer trusted fraud contacts
Banks and credit unions can voluntarily offer trusted-contact programs; they do not have to provide them. Customers and members can name contacts for emergencies, trouble reaching them, suspected exploitation, or checks on dormant accounts. Customers, members, and contacts can withdraw the designation; banks can decline contacts not acting in a customer's best interests. Both institutions can report suspected customer or member exploitation to law enforcement or public protective agencies, but reporting is optional. Reporting institutions receive civil-liability protection, and specified good-faith protections cover trusted-contact programs.
Crypto kiosk customers get clearer warnings
Before opening an account and before your first transaction, operators must explain service terms and risks in clear written English. These include unauthorized-transfer liability, privacy practices, receipt rights, and risks of losses without government backing or federal protections. Before every transaction, warnings explain irreversibility and ask you to confirm wallet control and freedom from outside pressure. Every transaction requires a receipt showing value, fees, exchange rate, time, contact details, delivery liability, and refund policy. Live toll-free support must operate Monday–Friday, 8 a.m.–10 p.m. local time, with the number displayed at the kiosk.
Stronger fraud safeguards for kiosk customers
Crypto kiosk operators must take reasonable steps to detect and prevent fraud. Written anti-fraud policies must cover risks, controls, monitoring duties, and regular reviews. A separate board-approved policy must identify customers at risk because of age or mental capacity. Operators must use blockchain-analysis software to help prevent transfers to wallets known to be linked to fraud. The Division of Finance can require proof that operators use this software.
More payment options for home closings
The law expands which payments count as certified funds at real estate closings. Wire transfers qualify when the settlement agent or its bank receives them unconditionally. Real-time payments, including RTP and FedNow, also qualify. For those payments, a financial institution must confirm in writing that collected funds reached the settlement agent's account.
Workers can request pay in specie
Employees can request some or all of their pay in specie legal tender, based on its dollar-equivalent value. Employers may pay it in physical or electronic form, but do not have to offer this option. Employers paying physical specie must verify its weight and purity.
Investors can subtract qualifying specie gains
For tax years beginning on or after January 1, 2026, taxpayers can subtract qualifying specie capital gains from Missouri adjusted gross income. The gain must come from selling or exchanging specie defined by state law and be included in federal adjusted gross income. This reduces taxable income, not taxes dollar for dollar.
Electronic specie can pay public debts
Electronic specie currency must be accepted for public debts contracted in Missouri. The custody agent or other transmitter must send payments to public entities in U.S. dollars. Private parties can choose whether to accept specie legal tender or electronic specie currency for private debts.
Specie owners gain protections against government
Missouri state and local government bodies generally cannot seize a person's specie legal tender or electronic specie currency. Seizures allowed by section 513.607 remain permitted. Government bodies also cannot restrict acquiring or using specie, infringe these rights, or discriminate among forms of legal tender. A person whose specie is unlawfully seized can sue and may receive attorney fees after winning.
Broadband grant recipients get tax subtraction
For tax years beginning on or after January 1, 2022, recipients can subtract 100% of qualifying broadband grants from Missouri adjusted gross income. Federal, state, or local grants must expressly fund broadband access or expansion in Missouri areas deemed to lack access. The tax break goes to grant recipients, not directly to households receiving internet service.
Estates gain out-of-state income tax credit
Missouri resident estates and trusts can claim a credit for qualifying income taxes paid to another state, its subdivisions, or Washington, D.C. The income must also be subject to Missouri tax. The credit applies to the extent Missouri adjusted gross income is excluded from taxable income under section 143.341(3). Its limit depends on the share of Missouri adjusted gross income derived from the other jurisdiction.
Neighborhood programs can share unused credits
Missouri can shift unused tax-credit authority between two neighborhood programs in the same fiscal year. Transfers are allowed when authorizations under section 32.111 fall below $10 million, with the unused amount available under section 32.112. Combined authorizations cannot exceed $11 million for that fiscal year. The change affects contributing businesses and neighborhood organizations, not a direct household credit.
Trust beneficiaries face claim filing deadlines
The law limits when beneficiaries can sue trustees for breach of trust. When the one-year rule applies, time runs from the later of an adequately disclosing report or notice of the filing deadline. Otherwise, the deadline is five years after the first listed event. Those events include trustee removal, resignation, or death, or termination of the beneficiary's interest or the trust.
Crypto kiosk operators face licensing requirements
Businesses owning, running, advertising, or facilitating crypto kiosks must obtain money-transmitter licenses. Unlicensed operators must apply within 60 days after the section takes effect; timely applicants can operate during review. Denied applicants must stop until licensed, and operators must maintain board-approved written compliance policies. Operators must employ qualified, full-time compliance and consumer-protection officers, each owning no more than 20% of the business. Legally required compliance work must be done by full-time employees.
Electronic wills gain access and revocation rules
Courts can order online account providers to disclose records needed to obtain a deceased person's electronic will. Without an appointed estate administrator, a court can authorize the petitioner to receive those records for that purpose. Electronic wills can cancel earlier wills and can be canceled by later wills, signed writings, or qualifying physical acts. A physical act counts only when evidence shows it was more likely than not done or directed with intent to revoke. If neither the electronic will nor a certified paper copy is found after death, the law presumes revocation.
Customers must request bank condition reports
Banks and trust companies no longer have to publish required periodic reports in newspapers or post them at the bank. Instead, a customer who asks must receive a paper or electronic copy of a required regular periodic report.
Inactive account notice protections end
The law repeals specified notices for accounts inactive at least 12 months when inactivity fees apply. It also repeals required annual statements after 12 months of inactivity, including that rule's permission for a fee up to $5 per statement. The specified requirement to transfer funds from accounts inactive for five years to the abandoned fund account also ends.
Business financing disclosures have key exemptions
Covered financing providers must give businesses cost and payment details before or when a deal closes. These include funds provided and disbursed, total payments, financing costs, payment terms, and prepayment costs or discounts. For changing payments, providers must give initial estimates and explain how later payments are set. Coverage generally requires more than five Missouri business financing deals per calendar year; banks, their subsidiaries, and affiliates are exempt. Other exemptions include deals over $500,000 and premium finance agreements from registered premium finance companies.
Kiosk oversight records get privacy limits
Crypto kiosk operators must provide records reasonably required by the Division of Finance to check compliance. These requests can cover federal banking and anti-money-laundering laws. Operator reports and related examination and investigation records are confidential and excluded from public-records disclosure. Specified business contact details, identifiers, registered-agent addresses, and final violation orders can remain public. Customers have no direct duty to submit these records.
Banks gain flexibility with less reporting
Banks and trust companies can authorize additional stock classes, subject to state procedures and required finance-director acceptance and approval. Directors can attend and vote remotely without the former top-rating requirement, unless law or safety restrictions bar participation. Minutes must document remote participants, notice, access to meeting materials, privacy, and the ability to hear discussion. Monthly reports can use a total past-due ratio, but must list loans at least 30 days late above a board-set threshold. That threshold must be at least $10,000 and no more than 5% of the legal loan limit; separate insider-debt lists end.
Banks gain pooled public-deposit security option
An authorized bank can use a single-bank securities pool to secure uninsured deposits from one or more public entities. This can replace or supplement separate pledges, using only securities allowed by state law. Eligible Missouri institutions appointed by the finance director administer pools, which must hold at least 102% of uninsured deposits. Participating banks pay administrator fees and expenses; administrators can require reports and checks of deposits and collateral values. If a bank fails and becomes insolvent, pledged securities or proceeds must go toward uninsured public deposits, subject to regulatory authority.
Sponsors & Cosponsors
Sponsor
Philip Oehlerking
Republican • House
Cosponsors
George Hruza
Republican • House
Roll Call Votes
House vote • 5/5/2025
Truly Agreed To and Finally Passed
Yes: 118 • No: 10 • Other: 15
House vote • 5/5/2025
House Adopts - SS SCS as amended
Yes: 128 • No: 8 • Other: 5
House vote • 5/5/2025
Reported Do Pass
Yes: 5 • No: 2
Senate vote • 5/1/2025
Third Read and Passed with Amendments
Yes: 20 • No: 11
House vote • 3/12/2025
Third Read and Passed
Yes: 155 • No: 0
House vote • 2/25/2025
Reported Do Pass
Yes: 9 • No: 0
House vote • 2/12/2025
Reported Do Pass
Yes: 13 • No: 0
Actions Timeline
Delivered to Secretary of State (G)
7/10/2025HouseApproved by Governor (G)
7/10/2025HouseDelivered to Governor
5/30/2025HouseSigned by President Pro Tem
5/30/2025SenateSigned by House Speaker
5/29/2025HouseHouse Message
5/5/2025HouseTruly Agreed To and Finally Passed - AYES: 118 NOES: 10 PRESENT: 15
5/5/2025HouseHouse Adopts - SS SCS as amended AYES: 128 NOES: 8 PRESENT: 5
5/5/2025HouseTaken Up
5/5/2025HouseReported Do Pass - AYES: 5 NOES: 2 PRESENT: 0
5/5/2025HouseVoted Do Pass
5/5/2025HouseExecutive Session Completed
5/5/2025HouseReferred: Fiscal Review
5/1/2025HouseReported to the House with... - SS as amended
5/1/2025HouseThird Read and Passed with Amendments - AYES: 20 NOES: 11 PRESENT: 0
5/1/2025SenateTaken Up
5/1/2025SenateReported Do Pass
5/1/2025SenateVoted Do Pass
5/1/2025SenateExecutive Session Held
5/1/2025SenateExecutive Session Scheduled - Thursday, May 1, 2025, May 1, 2025, 9:35 a.m., Senate Lounge - 3rd Floor
4/30/2025Referred: Fiscal Oversight
4/28/2025SenateSS Adopted - SA 1, SA 3, SA 4, SA 5, adopted
4/28/2025SenateSS Offered
4/28/2025SenateTaken Up for Third Reading
4/28/2025SenateSCS Reported Do Pass
4/17/2025Senate
Bill Text
Truly Agreed
5/5/2025
Perfected
3/10/2025
Committee Substitute
2/12/2025
Senate Substitute
2/12/2025
Introduced
1/8/2025
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