MO HB3021

Appropriates $1,000,000,000 from the General Revenue Fund to the Department of Revenue for a one-time economic recovery non-refundable tax credit for the fiscal period July 1, 2022 through June 30, 2023.

Provides tax credits of $500 for individual filers or $1,000 for married couples filing jointly, limited to the lesser of the credit amount or the taxpayer's Missouri income tax due for tax year 2021.

Restricts eligibility to individuals who cannot be claimed as dependents on another taxpayer's federal return, are not estates or trusts, and filed a Missouri individual or combined income tax return for tax year 2021.

Requires tax returns to be filed by October 17, 2022, or another date set by the Director of Revenue, with all deductions and credits applied except withholding, estimated payments, or extension payments.

Appropriates an additional $2,500,000 from the General Revenue Fund for Department of Revenue administration and equipment costs, bringing the total appropriation to $1,002,500,000.