FIRST REGULAR SESSION
SENATE BILL NO. 161
90TH GENERAL ASSEMBLY
INTRODUCED BY SENATOR MAXWELL.
Pre-filed December 8, 1998, and 1,000 copies ordered printed.
TERRY L. SPIELER, Secretary.
S0647.01I
AN ACT
To amend chapter 135, RSMo, by adding thereto one new section relating to taxation.
Section A. Chapter 135, RSMo, is amended by adding thereto one new section, to be known as section 135.760, to read as follows:
135.760. 1. For all taxable years beginning on or after January 1, 1999, a resident taxpayer shall be allowed a tax credit against the tax otherwise due under chapter 143, RSMo, in an amount equal to twenty percent of the amount which the taxpayer has claimed as an earned income credit pursuant to section 32 of the Internal Revenue Code for that taxable year. Any amount of the credit taken which exceeds the tax due shall be refunded to the taxpayer.
2. 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.