HJR 10 -- Revenue Limitation

Sponsor:  Graham

This proposed amendment to the Missouri Constitution changes the
provision commonly known as the "Hancock Amendment."  Currently,
when state revenues exceed the revenue limit by more than 1%,
the excess revenue is refunded to income taxpayers based on
their pro rata share of income tax liability.  The amendment
will require the General Assembly, when the revenue limit is
exceeded by more than 1%, to submit to the qualified voters of
the state the question of whether the excess revenues should be
refunded pro rata based on income tax liability or placed in the
State Highways and Transportation Fund.

Missouri House of Representatives
Last Updated September 13, 2001 at 2:05 pm