HCS HB 2189, 2208, 2178 & 2333 -- FEDERAL ECONOMIC STIMULUS PAYMENTS SPONSOR: Smith (14) COMMITTEE ACTION: Voted "do pass" by the Special Committee on Tax Reform by a vote of 9 to 0. This substitute exempts any advance refund received from the federal Economic Stimulus Act of 2008 from the Missouri individual income tax. FISCAL NOTE: Estimated Cost on General Revenue Fund of $0 in FY 2009, Less than $160,200,000 in FY 2010, and $0 in FY 2011. No impact on Other State Funds in FY 2009, FY 2010, and FY 2011. PROPONENTS: Supporters say that these bills will ensure that the federal economic stimulus rebate is not state taxable encouraging citizens to spend the money and help the economy. This is a precautionary measure, and the rebate is non-taxable at the federal level. Testifying for the HB 2189 was Representative Smith (14). Testifying for HB 2208 was Representative Stream. Testifying for HB 2178 was Representative Holsman. Testifying for HB 2333 was Representative Sander. OPPONENTS: There was no opposition voiced to the committee. OTHERS: Others testifying on the bills say the rebate will not be added into the adjusted gross income and will not flow to Missourians; however, the bill will ensure no tax for Missouri taxpayers. Testifying on the bills was Department of Revenue.Copyright (c) Missouri House of Representatives