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MO SJR8
Joint Resolution
AI Summary
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Submits constitutional amendment to Missouri voters at the November 2012 general election (or special election called by governor)
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Adds Section 18(f) to Article X of Missouri Constitution establishing automatic revenue refund mechanism
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Triggers refund when total state revenues exceed the previous fiscal year's revenues by 5 percent or more
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Refunds 9.5 percent of revenues exceeding the prior year threshold, distributed pro rata based on individual income tax liability
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Distributions made following the close of the fiscal year based on Missouri state income tax returns filed
Legislative Description
Requires refunds to taxpayers when state revenues grow by five percent or more
Last Action
Voted Do Pass S Ways and Means and Fiscal Oversight Committee
4/14/2011