Legislature Approves Senior Growth & Development Fund

With just 34 minutes left in this year’s session of the Missouri General Assembly, legislation creating the Senior Growth & Development Fund was approved and will be forwarded to the Governor for his signature.

According to the text of the bill, ” There is hereby established in the department of health and senior services the “Senior Services Growth and Development Program” to provide additional funding for senior services provided through the area agencies on aging in this state. Beginning January 1, 2020, two and one-half percent, and beginning January 1, 7 2021, and each year thereafter, five percent of the premium tax collected under sections 148.320 and 148.370, excluding any moneys to be transferred to the state school moneys fund as described in section 148.360, shall be deposited in the fund created in subsection 3 of this section.”

A “Senior Services Growth and Development Program Fund” will be created and the director of the department of revenue shall collect the moneys and remit such moneys to the state treasurer for deposit in the fund, less one percent for the cost of collection. The fund shall be a dedicated fund and moneys in the fund shall be used solely by the department of health and senior services for enhancing senior services provided by area agencies on aging in this state.

The legislation was originally introduced as HB 337, but in the last hours of the legislative session, was added to provisions of SB 275 for final action and approval. The agreement to combine and approve bills was engineered by Representative Swan and Senator Sater who had both introduced early versions of the bill.

Congratulations and thanks to all who were committed to the establishment of this very important funding mechanism for Missouri senior programs.

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