SECOND REGULAR SESSION

HOUSE BILL NO. 1147

88TH GENERAL ASSEMBLY

INTRODUCED BY REPRESENTATIVE JACOB.

Read 1st time January 17, 1996 and 1000 copies ordered printed.

DOUGLAS W. BURNETT, Chief Clerk

L2939.01I

AN ACT

Relating to taxation.

Be it enacted by the General Assembly of the state of Missouri, as follows:

Section 1. The office of administration shall provide no later than the third Monday of each year a report to the house of representatives, the senate and the governor which shall contain the following:

(1) An explanation and an estimate of the revenue effect upon this state from changes made in the federal tax code during the previous calendar year;

(2) An explanation, and if appropriate an estimate, of the revenue effect upon this state resulting from federal and state court decisions of federal or state tax issues which were made during the previous calendar year; and

(3) An estimate of the limit imposed by article X, section 18 of the Missouri Constitution, popularly known as the Hancock Amendment, for the current fiscal year, an estimate of such limit for the year succeeding the current year and a report which outlines any refunds of excess revenues which are required pursuant to article X, sections 16 to 24 of the Missouri Constitution, or required pursuant to any other tax limitation imposed by the Missouri Constitution.