SECOND REGULAR SESSION
95TH GENERAL ASSEMBLY
INTRODUCED BY REPRESENTATIVE HOSKINS (80).
4323L.01I D. ADAM CRUMBLISS, Chief Clerk
AN ACT
To amend chapter 135, RSMo, by adding thereto one new section relating to income tax credit for the elderly.
Be it enacted by the General Assembly of the state of Missouri, as follows:
Section A. Chapter 135, RSMo, is amended by adding thereto one new section, to be known as section 135.036, to read as follows:
135.036. 1. For all tax years beginning on or after January 1, 2011, a resident taxpayer who has attained sixty-five years of age on or before the last day of the tax year and with a Missouri adjusted gross income of nine thousand five hundred seventy dollars or less for such tax year shall be allowed a credit against the tax otherwise due under chapter 143, not including sections 143.191 to 143.265, in the amount of one thousand dollars.
2. The tax credit allowed under subsection 1 of this section shall be claimed by the taxpayer at the time such taxpayer files a return. Any amount of tax credit which exceeds the taxpayer's tax liability shall not be transferable but shall be refunded to the taxpayer.
3. The director of the department of revenue is authorized to promulgate rules necessary to administer the provisions of this section. Any rule or portion of a rule, as that term is defined in section 536.010, that is created under the authority delegated in this section shall become effective only if it complies with and is subject to all of the provisions of chapter 536 and, if applicable, section 536.028. This section and chapter 536 are nonseverable and if any of the powers vested with the general assembly pursuant to chapter 536 to review, to delay the effective date, or to disapprove and annul a rule are subsequently held unconstitutional, then the grant of rulemaking authority and any rule proposed or adopted after August 28, 2010, shall be invalid and void.
4. Under section 23.253 of the Missouri sunset act:
(1) The provisions of the new program authorized under this section shall automatically sunset December 31, 2015, unless reauthorized by an act of the general assembly; and
(2) If such program is reauthorized, the program authorized under this section shall automatically sunset December 31, 2021; and
(3) This section shall terminate on September 1, 2022.
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