To amend chapter 136, RSMo, by adding thereto two new sections relating to implementation of the refund required under article X, section 18 of the constitution of Missouri.

BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF MISSOURI,

AS FOLLOWS:

Section A. Chapter 136, RSMo, is amended by adding thereto two new sections, to be known as sections 136.400 and 136.405, to read as follows:

136.400. The excess revenue to be refunded shall include all revenue in excess of the limit established in article X, section 18, paragraph (a) of the Missouri constitution collected during a fiscal year. The office of administration shall certify the amount of excess revenue to be refunded.

136.405. The phrase "annual returns filed following the close of such fiscal year", as used in article X, section 18, shall mean income tax returns, of residents and nonresidents, which are filed by the following June thirtieth. Amended returns filed after June thirtieth shall not be included in calculating the pro rata distribution amounts pursuant to article X, section 18, paragraph (b). Returns filed for any part of a year shall be included.