HS HCS HB 5, 1 & 2 -- FEDERAL INCOME TAX DEDUCTION (Kennedy) This substitute exempts from state individual income tax any federal income tax advanced refund or subsequent credit in lieu of an advanced refund received by a taxpayer under section 6428(e) of the Internal Revenue Code. (The section pertains to tax year 2001.) The substitute contains an emergency clause. FISCAL NOTE: Estimated Net Loss to General Revenue Fund of $33,687,672 in FY 2002, $0 in FY 2003, and $0 in FY 2004.Copyright (c) Missouri House of Representatives