SB 561 - Ridgeway, Luann
Imposes a sunset upon tax credit programs not currently subject to a sunset provision and requires the Department of Revenue to apply any increase in revenue generated to a decrease in the personal income tax rate
Bill Details
Sponsor
LR Number
4502S.01I
Title
SB 561
House Handler
N/A
Journal Page
N/A
Effective Date
August 28, 2012
Committee
Current Status
Hearing Conducted S Ways and Means and Fiscal Oversight Committee
Quick Links
Amendments
No amendments available
CURRENT BILL SUMMARY
SB 561 - This act sunsets all tax credit programs, which are not currently subject to the Missouri Sunset Act, effective January 1, 2016. The Department of Revenue is required to apply any increase in revenue generated from ending these tax credit programs to a decrease in the personal income tax rate to begin on January 1, 2018. The Department of Revenue is required to accomplish this decrease in the personal income tax rate by rule.
EMILY KALMER