Read 1st time January 19, 2000, and 1000 copies ordered printed.
ANNE C. WALKER, Chief Clerk
AN ACT
To repeal section 135.095, RSMo Supp. 1999, relating to tax relief for senior citizens, and to enact in lieu thereof one new section relating to the same subject.
Section A. Section 135.095, RSMo Supp. 1999, is repealed and one new section enacted in lieu thereof, to be known as section 135.095, to read as follows:
135.095. For all tax years beginning on or after January 1, 1999, but before January 1, 2005, a resident individual who
has attained sixty-five years of age on or before the last day of the tax year shall be allowed, for the purpose of offsetting
the cost of legend drugs, a maximum credit against the tax otherwise due pursuant to chapter 143, RSMo, not including
sections 143.191 to 143.265, RSMo, of two hundred dollars. An individual shall be entitled to the maximum credit
allowed by this section if the individual has a Missouri adjusted gross income of [fifteen] thirty-six thousand dollars or
less; provided that, no individual who receives full reimbursement for the cost of legend drugs from Medicare or
Medicaid, or who is a resident of a local, state or federally funded facility shall qualify for the credit allowed pursuant to
this section. If an individual's Missouri adjusted gross income is greater than [fifteen] thirty-six thousand dollars, such
individual shall be entitled to a credit equal to the greater of zero or the maximum credit allowed by this section reduced
by two dollars for every hundred dollars such individual's income exceeds [fifteen] thirty-six thousand dollars. The
credit shall be claimed as prescribed by the director of the department of revenue. Such credit shall be considered an
overpayment of tax and shall be refundable even if the amount of the credit exceeds an individual's tax
liability.
Missouri House of
Representatives