Department News GOVERNMENTAL RELATIONS
ECORA, ATM ‘Smash-and-Grab’ Penalty Provision Top Session Agenda By David Kent, Vice President of Legislative and Advocacy Programming
Tis the season for the legislative session!
Lawmakers are set to return to Jefferson City the first week in January to begin the 2022 state legislative session. It’s expected to be a busy year as lawmakers pre-filed more than 700 bills the first week of December. Legislators will need to tackle several major topics early in session, with redistricting and appropriating federal funds topping the list.
Te legislature will focus on redrawing Missouri’s congressional map during the first few weeks of session. Te new map must be completed by Feb. 22 — the first day candidates can file to run for office. Floor debate may get interesting because several state senators are running for Congress, including a few running in the same district.
Distributing funds from the American Rescue Plan Act and CARES Act also will need to be addressed during the early weeks of session. Other topics considered a priority for leadership include gaming machines and sports betting; agriculture policy, including several ag-tax credits; voter ID requirements; and initiative petition reform.
Two issues top MBA’s legislative agenda — a state-level ECORA bill and a penalty provision specifically for ATM “smash-and-grab” crimes.
ECORA, or Enhancing Credit Opportunities in Rural America, is a state tax deduction for banks on the net interest
income received from qualified agriculture real estate loans and from single-family residence loans in rural communities. Te savings generated from the tax exemption are intended to be passed through to customers in the form of lower interest rates, giving banks an opportunity to better compete in the ag lending space.
MBA also supports legislation to create a specific penalty provision for ATM “smash-and-grab” crimes. Tis activity oſten involves organized crime units, and individuals rip out ATM machines to remove the cash. Missouri banks have seen an increase in smash-and-grab incidents in recent months aſter Texas lawmakers made it a felony to destroy an ATM. Te Texas law has prompted criminals to target ATMs in states without strong criminal provisions for this type of crime.
With a busy session expected, we encourage everyone to participate in the MBA’s Target Banker program. Tis is an opportunity for bankers across the state to visit with their legislators face-to-face and discuss the issues that are important to you, your customers and the banking community. MBA kicks off the day with a morning briefing followed by meetings with representatives and senators in the Capitol and concludes with a debrief during lunch. You pick the date, and MBA does the rest! For more information, please contact Emily Lewis at
elewis@mobankers.com.
We wish you a happy New Year and look forward to seeing you in Jefferson City!
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