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Legal counsel warns Missouri bill to cut personal property tax could hit pension revenues
Summary
Dan Schwartz of UBGreensfelder told the Overland joint pension board that pending Missouri legislation to eliminate the personal property tax could reduce local government revenue and potentially negatively affect the pension plans.
Dan Schwartz of the law firm UBGreensfelder, legal counsel to the boards, reported to trustees that there is pending legislation in the Missouri General Assembly to eliminate the personal property tax and that such a change could reduce local government revenue, "which may cause a negative impact on the plans."
The staff report also recorded that copies of HB147 compliance letters were forwarded to the Missouri General Assembly and the Joint Committee on Public Employee Retirement on Dec. 10, 2025. No formal board action was recorded at the Feb. 5 meeting in response to counsel's report; the discussion was entered into the record as a potential fiscal risk to the plans pending state action.
