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MO HB2090
Bill
Status
3/29/2012
Primary Sponsor
Leonard Hughes
Click for details
AI Summary
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Establishes the "Missouri Supporting Families Income Tax Holiday Act" effective for tax years beginning January 1, 2013 and beyond.
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Requires the Department of Revenue to review withholding tax collections from prior tax years and identify the month with historically the lowest collection amounts.
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Exempts all Missouri state employees from withholding tax during the identified lowest-collection month, while maintaining all other required withholdings and deductions.
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Grants the Department of Revenue authority to promulgate rules implementing the act, subject to chapter 536 rulemaking procedures.
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Establishes automatic sunset provisions requiring reauthorization by the General Assembly after 6 years, with a subsequent 12-year sunset if reauthorized.
Legislative Description
Establishes the Missouri Supporting Families Income Tax Holiday Act which allows an exemption from state withholding taxes for state employees in a specified month determined by the Department of Revenue
Last Action
Referred: Ways and Means (H)
4/18/2012