As Missouri’s Chief Financial Officer, the Missouri State Treasurer is a member of several boards, commissions, and trusts. These include:
- Missouri’s 529 Education Plan (MOST)
- Missouri Housing Development Commission (MHDC)
- Missouri State Employees’ Retirement System (MOSERS)
- Missouri Achieving a Better Life Experience Program (MO ABLE)
- Board of Fund Commissioners
- Missouri Cultural Trust Board
- Linked Deposits Review Committee
- State Historical Society of Missouri
MOST, Missouri’s qualified tuition savings program established under Section 529 of the Internal Revenue Code, is overseen by the Missouri Education Program Board. MOST is designed to help people save for the costs of education. The Missouri State Treasurer serves as chair of the board. More information can be found at www.MissouriMOST.org.
- MOST enabling statute: section 166.415, Revised Statutes of Missouri
- Open Government Information - Missouri Education Program Board
The Missouri Housing Development Commission (MHDC) administers, and provides financing for, the construction of affordable housing. The Commission also provides funding for home loans to qualified, first-time buyers through a network of certified, private mortgage lenders. Mortgage financing is facilitated through the sale of mortgage-backed securities and through the sale of tax-exempt bonds the Commission is authorized to issue.
The Commission administers the federal and Missouri Low-Income Housing Tax Credit (LIHTC) programs, the Affordable Housing Assistance Program Tax Credit (AHAP), federal HOME funds, and the direct funding of several housing assistance programs. Further, the Commission administers homeless assistance funds for permanent housing in an effort to end homelessness in Missouri. The Commission also provides advisory, consultative, training and educational services to non-profit housing organizations.
The Commission includes the Governor, Lieutenant Governor, State Treasurer, Attorney General and six persons appointed by the Governor with the advice and consent of the Senate.
The system administers retirement, life insurance, and long-term disability benefits to most state employees. Responsibility for the operation and administration of MOSERS is vested in an 11 member board of trustees, of which the State Treasurer is one.
MO ABLE allows eligible Missourians to open a tax-advantaged savings account for certain qualified disability expenses. The program is administered by a board chaired by the Missouri State Treasurer. Participants can save up to $15,000 per year without losing eligibility for federal benefits programs. Money in MO ABLE accounts can be used for expenses such as housing, transportation, education, medical care, and more. Additional information and an eligibility quiz can be found at www.moable.com.
The Board of Fund Commissioners issues, redeems and cancels state general obligation bonds and performs other administrative activities related to state general obligation debt as assigned by law. The board is composed of the Governor, Lieutenant Governor, State Treasurer, State Auditor, Attorney General, and the Commissioner of Administration. The Governor is president of the board and the State Treasurer is secretary.
The board oversees and administers the Missouri Arts Council Trust Fund, which is used solely for the promotion of the arts in Missouri and for the administrative costs of the Missouri State Council of the Arts.
The board of trustees, consisting of the State Treasurer, two members of the Senate appointed by the President Pro Tem of the Senate, two members of the House of Representatives appointed by the Speaker of the House, and the members of the Missouri Arts Council.
The committee has review and oversight capacity for all matters relating to the Missouri Linked Deposit Program. The committee may examine all aspects of the Missouri Linked Deposit Program, including but not limited to, the program's administration, operation and effectiveness.
The State Treasurer serves as a member of the Missouri State Historical Society. Founded in 1898, the organization is a private membership and state funded organization responsible for preserving and studying Missouri’s cultural heritage. They possess a large amount of art, manuscripts, newspapers, etc. pertaining to Missouri’s history.