Initiative Petition Relating to State Income Tax Credit Approved for Circulation for 2010 Ballot

Relating to State
Income Tax Credit Approved for Circulation for
2010 Ballot

City, Missouri - Secretary of State
Robin Carnahan announced today that a new initiative petition met state
standards for circulation. The petition would amend the Missouri Constitution
relating to a state income tax credit.

The ballot title for
the petition relating to a state income tax credit reads:

Shall the Missouri Constitution be amended
to provide a 50% state income tax credit for contributions or donations made by
individuals and corporations to Missouri incorporated and operated charitable
and educational not-for-profit corporations, organizations, institutions and
foundations in addition to the deductions currently allowed for federal and
state income taxes?

The cost to state and local governmental entities is
estimated to exceed $5 billion annually.

Before any
constitutional changes can be brought before Missouri voters in the November
2010 election, signatures must be obtained from registered voters equal to eight
(8) percent of the total votes cast in the 2008 governor's election from six of
the state's nine congressional districts.

Signatures on behalf
of all initiative petitions for the 2010 ballot are due to the Secretary of
State’s office by no later than 5 p.m. on May 2, 2010.

Before circulating
petitions, state law requires that groups must first have the form of their
petition approved by the Secretary of State and Attorney General. The Secretary
of State then prepares a summary statement of no more than 100 words and the
State Auditor prepares a fiscal impact statement, both of which are subject to
the approval of the Attorney General. When both statements are approved, they
become the official ballot title.

The petition relating
to a state income tax was submitted by Mr. Herman L. Kriegshauser, 19
Jennycliffe Lane, Chesterfield, MO  63005, (636)-391-1216.

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