Modifies the Missouri Working Family Tax Credit Act to make the tax credit refundable starting in 2027.
This bill modifies the Missouri Working Family Tax Credit Act by making the tax credit refundable starting on January 1, 2027. It allows eligible taxpayers a credit equal to a percentage of the federal earned income tax credit. The Department of Revenue will determine eligibility and notify taxpayers. The tax credit will not be subject to certain requirements and the director of the department may create rules to administer the provisions.
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