Bill Text: MO HJR30 | 2013 | Regular Session | Introduced
Bill Title: Proposes a constitutional amendment requiring any law creating a new tax credit or extending an existing tax credit to reduce the allowable amount of other tax credits
Spectrum: Partisan Bill (Republican 2-0)
Status: (Introduced - Dead) 2013-03-07 - Referred: General Laws(H) [HJR30 Detail]
Download: Missouri-2013-HJR30-Introduced.html
FIRST REGULAR SESSION
97TH GENERAL ASSEMBLY
INTRODUCED BY REPRESENTATIVES SOLON (Sponsor), KORMAN, SCHIEBER, CURTMAN, RHOADS, HURST, ROSS, PARKINSON AND BERRY (Co-sponsors).
1773L.02I D. ADAM CRUMBLISS, Chief Clerk
JOINT RESOLUTION
Submitting to the qualified voters of Missouri an amendment repealing section 4(d) of article X of the Constitution of Missouri, and adopting one new section in lieu thereof relating to taxation.
Be it resolved by the House of Representatives, the Senate concurring therein:
That at the next general election to be held in the state of Missouri, on Tuesday next following the first Monday in November, 2014, or at a special election to be called by the governor for that purpose, there is hereby submitted to the qualified voters of this state, for adoption or rejection, the following amendment to article X of the Constitution of the state of Missouri:
Section A. Section 4(d), article X, Constitution of Missouri, is repealed and one new section adopted in lieu thereof, to be known as section 4(d), to read as follows:
Section 4(d). 1. In enacting any law imposing a tax on or measured by income, the general assembly may define income by reference to provisions of the laws of the United States as they may be or become effective at any time or from time to time, whether retrospective or prospective in their operation. The general assembly shall in any such law set the rate or rates of such tax. The general assembly may in so defining income make exceptions, additions, or modifications to any provisions of the laws of the United States so referred to and for retrospective exceptions or modifications to those provisions which are retrospective.
2. In enacting any law creating any tax credit program, or extending the sunset date of any existing tax credit program, as that term is defined by the Tax Credit Accountability Act of 2004, the same law shall contain provisions repealing, lowering the cap on, or otherwise reducing the allowable amount of an existing state tax credit or credits in an amount equal to or greater than the amount of state revenue projected for each fiscal year to be reduced as a result of the new or extended tax credit program.
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