Modifies provisions relating to the "Missouri Working Family Tax Credit Act", making the tax credit refundable

This bill creates a state earned income tax credit for eligible residents, starting in 2023. The credit will be a percentage of the federal earned income tax credit, initially set at ten percent and potentially increasing to twenty percent if state revenue targets are met. For tax years before 2027, any credit amount exceeding tax liability will not be refunded or carried forward, but after 2027, the credits will become refundable.

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