DOUGHERTY, SELBY, MERIDETH (Co-sponsors), FRASER, KENNEDY, LAKIN, MURRAY, RELFORD, CAMPBELL, SKAGGS, BOUCHER, DAVIS (63), THOMPSON (37), KISSELL, GREEN, HOSMER, FROELKER, KELLEY (47), PARKER, SCHEVE, McLUCKIE, LADD STOKAN, FOLEY, TROUPE, CHAMPION, DAYS, McCLELLAND, GEORGE, AUER, SCHILLING, GAMBARO, GUNN,
GRAHAM (24), BOYKINS, CLAYTON, FARNEN AND CRUMP.
Pre-filed December 1, 1999, and 1000 copies ordered printed.
ANNE C. WALKER, Chief Clerk
AN ACT
Relating to earned income tax credit.
Section 1. 1. For all taxable years beginning on or after January 1, 2001, a resident individual who is allowed a federal earned income tax credit pursuant to section 32 of the Internal Revenue Code shall be allowed a credit against the tax otherwise due pursuant to chapter 143, RSMo, not including sections 143.191 to 143.265, RSMo, in an amount equal to twenty percent of the allowable federal earned income tax credit. The tax credit allowed by this section shall be claimed by such individual at the time such individual files a return and shall be applied against the income tax liability imposed by chapter 143, RSMo. Where the amount of the credit exceeds the tax liability, the difference shall be refunded to the taxpayer or carried forward into any subsequent taxable year.
2. The director of the department of revenue shall promulgate rules and regulations to administer the provisions of this section. No rule or portion of a rule promulgated pursuant to the authority of this section shall become effective unless it has been promulgated pursuant to the provisions of chapter 536, RSMo.
3. Notwithstanding the provision of subsection 4 of section 32.057, RSMo, the department of revenue or any duly
authorized employee or agent shall determine whether any taxpayer filing a report or return with the department of
revenue who has not applied for the credit allowed pursuant to subsection 1 of this section may qualify for the
credit, and shall notify any qualified claimant of his or her potential eligibility, where the department determines
such potential eligibility exists.
Missouri House of Representatives