HOUSE BILL NO. 1771 103RD GENERAL ASSEMBLY
INTRODUCED BY REPRESENTATIVE AMATO.
3880H.01I JOSEPH ENGLER, Chief Clerk
AN ACT To amend chapter 143, RSMo, by adding thereto one new section relating to certain income tax credit denials.
Be it enacted by the General Assembly of the state of Missouri, as follows:
Section A. Chapter 143, RSMo, is amended by adding thereto one new section, to be 2 known as section 143.512, to read as follows: 143.512. 1. If a tax credit limit denial is the sole cause of a taxpayer owing an 2 income tax balance due for a tax year, the taxpayer shall not be held liable for any 3 addition to tax, penalty, or interest on that amount of the income tax balance due, 4 provided that the balance is paid, or department of revenue-approved payment 5 arrangements are made, within sixty days from the initial issuance of the notice to the 6 taxpayer showing that the tax credit was fully or partially denied. A taxpayer who has 7 failed to comply with such payment arrangements in any respect shall be liable for any 8 addition to tax, penalty, or interest as if this section did not apply. 9 2. For the purposes of this section, "tax credit limit denial" means the full or 10 partial denial of the authorization, approval, issuance, or redemption of a tax credit, to a 11 taxpayer who has otherwise fully qualified for the tax credit, on the basis of insufficient 12 funds or appropriations, or on the basis that the cumulative maximum amount of such 13 tax credits set by the relevant tax credit statute has been claimed, authorized, approved, 14 issued, or redeemed for the relevant fiscal year or calendar year.
EXPLANATION — Matter enclosed in bold-faced brackets [thus] in the above bill is not enacted and is intended to be omitted from the law. Matter in bold-face type in the above bill is proposed language. HB 1771 2
15 3. This section shall apply only to income tax balances due that arise on or after 16 August 28, 2026. ✔
Statutes affected: