143.127. Deduction for restitution received by victims of National Socialist (Nazi) persecution. - Missouri Statutes

Deduction for restitution received by victims of National Socialist(Nazi) persecution.

143.127. 1. For all tax years beginning on or after January 1, 2000,the following amounts received by an individual or returns and payments toan individual shall be subtracted from such individual's federal adjustedgross income, to the extent such amounts, returns or payments are includedin such individual's federal adjusted gross income:

(1) Amounts received as reparations or restitution for the loss ofliberty or life or damage to health by the victims of National Socialist(Nazi) persecution;

(2) Returns of tangible or intangible property seized,misappropriated or lost as a result of National Socialist (Nazi) actions orpolicies and any cash values in replacement of such property;

(3) Payments of insurance policies purchased prior to December 31,1945, by the victims of National Socialist (Nazi) persecution; and

(4) Any accumulated or accrued interest on such amounts, returns orpayments.

2. The subtraction of the amounts, returns or payments from anindividual's Missouri adjusted gross income shall only apply if suchindividual was a victim of National Socialist (Nazi) persecution, actionsor policies or is the spouse or descendant of a victim of NationalSocialist (Nazi) persecution, actions or policies, and such individual orfamily member is the first recipient of such amounts, returns or payments.

3. As used in this section, "National Socialist (Nazi) persecution,actions and policies" means persecution, actions or policies taken byGermany and other countries, or by organizations, institutions andcompanies within those countries, against the victims of the NaziHolocaust.

(L. 2000 H.B. 1452)