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.

Missouri House of Representatives
Last Updated October 19, 2001 at 4:30 pm